Four private non-life insurance companies have tied up third-party administrators (TPAs) to help service policyholders in the health insurance segment.
In contrast, the four state-owned general insurance companies are yet to finalise their plans despite numerous presentations made to them by TPAs. Last Thursday, the Insurance Regulatory and Development Authority issued licences to 14 TPAs.
Even before the official announcement, Iffco Tokio General Insurance, ICICI Lombard General Insurance, and Reliance General Insurance tied up with Paramount Health Services. Royal Sundaram has also tied up with a TPA, said industry sources.