The insurer has launched a personal health wallet with an aim to motivate people to not only buy health insurance but also stay fit
According to Sandeep Patel, CEO and managing director, CignaTTK is working on ways to provide incentives to policyholders for fitness-related activities.
For instance, those who walk an additional distance on a particular day could get a discount on their health insurance premium. Here, the discount would be dependent on the distance covered. Patel says the company will soon approach the insurance regulator for approval to launch these initiatives.
Recently, CignaTTK had launched a product called ProHealth Accumulate. This works as ‘personal health wallet’, which serves as a reserve for future healthcare needs.
This can be used for claiming out-patient expenses such as pharmacy, doctor’s consultation, pharmacy expenses, diagnostic tests, alternative forms of medicines (AYUSH) and more.
This amount can also be utilised towards payment of any deductible/co-pay/non payable component of a claim wherever applicable including any cashless facility in case of a Hospitalization or Day Care Claim.
Patel emphasised that the focus would be to motivate healthy living. Hence, a policyholder will have Healthy Rewards where they can earn one per cent reward points on premium paid and additional upto 9 per cent can be accrued by opting for an array of online and offline CignaTTK Wellness initiatives.
All accumulated points (1 point = Re 1) can be redeemed as renewal premium up to 10 per cent discount or claim as Health Maintenance Benefit (HMB) within the policy year.
Further, any HMB amount that is unutilized plus earned Cumulative Bonus gets carried forward to the next policy year with fresh HMB allocation. This helps create a health reserve over the period to meet your future health expenses.
Apart from this, CignaTTK Health is also looking to offer facilities of wallets for health insurance.
Patel said that they are exploring arrangements with payments banks where a wallet can be used to deposit money as low as Rs 20, Rs 50 or Rs 100 to the wallet for health insurance products. Discussions are underway with the concerned stakeholders on this and the initiative will be launched soon after they get a regulatory nod.
Illustration: Uttam Ghosh/Reuters