Experts deliberate on the need for health insurance to secure your today and tomorrow

The Covid-19 pandemic brought about significant changes in people’s behaviour towards protecting health. To analyse the shift in public awareness about healthcare, Economictimes.com and HDFC Ergo conducted an exclusive session on
Health insurance for today and tomorrow.
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The panel comprising experts from three different domains – Doctor, Financial Expert and Health Insurance Representative – emphasised on the importance of health insurance and created awareness around how people can live a safe and healthy life in post-Covid times.

While Dr Nanda Kumar Jairam, Former CEO, Chairman and GMD, Columbia Asia Hospitals spoke about how helpful health insurance can be in case of critical illness, Ramesh Kumar Damani, Million Dollar LI advisor and GI counsel Advisor highlighted health insurance as an important tool in overall financial planning.

Both the experts shared some anecdotes from their lives to reiterate how health insurance played a major role during a medical emergency.

Dr Jairam also shared his observations about development in India’s medical capacity and its impact on cost of treatments especially in case of critical illnesses thus making health insurance even more essential in current times.

Ravi Vishwanath, President – Accident & Health Business, HDFC ERGO General Insurance brought to light the issue of rising medical inflation, especially post pandemic and stressed on the need of a trust-worthy health insurance partner.

“There was a phase when health insurance was becoming a pull product from a push product, and there was a figurative line in terms of demand for people wanting to buy insurance. After the pandemic, we have reversed back to the old levels of growth, which still is the fastest growing health insurance businesses of the world and also the fastest growing line in general insurance in India,” observed Vishwanath.

“As intermediaries and as an industry, we have to push customers (not for the product but for the awareness) about insurance and how it protects in times of need. We have to make sure that we have the right products that move them (customers) to action,” said Vishwanath during the session.

The virtual session also touched upon the need for comprehensive health insurance in a post pandemic world.
Click to watch the full session.