Insurance regulator Tuesday made a strong case for reducing expenses to make health insurance affordable for everyone.
Addressing the ‘Health Insurance Summit 2022’ here, Insurance Regulatory and Development Authority of India (Irdai) chairman Debasish Panda said that high operating and distribution costs, and hospital expenses as indirect costs could be the reasons affecting the insurance pricing.
Pricing is probably very high leaving insurance cover unaffordable to many sections of society, Panda said. “We have to look at ways of reducing the expenses in order to make insurance affordable,” he said, adding that it should not be too burdensome for insurers either.