Health Insurance Plans in India: Get tests done, buy medical insurance policy in just 3 minutes; here’s how

Buying a health insurance policy has always been a cumbersome process, especially for 45-plus people, as they have to undergo various medical tests before they are considered fit for taking a health cover. Thereafter also, getting one’s policy documents can take even weeks in some cases, if bought offline. However, from now on it may take only a few minutes. For, in a bid to propel health insurance penetration in the country, Max Bupa has announced the launch of Max Bupa AnyTimeHealth (ATH) machines, a technology-based solution, that will allow customers to run instant health assessment and buy a health insurance cover in just 180 seconds. According to Max Bupa, ATH machines will let customers initiate their health assessment, choose the right health insurance plan for themselves and walk away with the policy document within three minutes.

According to the company, looking at the severe under-penetration of health insurance in India, the ATH machines have been designed for customers who find health insurance buying either too complicated, or do not find the time or motivation to insure something as important as their health. As per the Max Bupa Pulse survey conducted in early 2017, people are moving towards digital mediums and platforms for buying and renewing health insurance. While 47% of the respondents confirmed opting for online platforms for renewing health insurance, 13% said they would go to online platforms for purchasing health insurance.

How ATH Works

While buying a policy, the 5 simple steps a first-time user needs to follow are as follows:

1. Registration using email ID and phone number

2. Non-intrusive health assessment

3. Automated health insurance policy recommendation based on details entered and test output

4. Instant payment

5. Instant policy issuance

Talking about Max Bupa’s latest innovation, Ashish Mehrotra, MD & CEO, Max Bupa said, “The Indian health insurance industry needed something disruptive to ensure health cover reaches every Indian. With the Max Bupa ATH machines, we aim to democratize health by addressing the key issues and challenges faced by Indians on their buying journey. While we anticipate greater penetration for health insurance overall with the innovation, we also expect the Max Bupa ATH machines to increase our Bancassurance throughput by 2.5X and become an independent sales channel in the next 3- 5 years, comprising 15%-20% of our total digital sales.”

At this stage, customers will be able to perform non-intrusive health assessment covering Body Mass Index, Blood Pressure, Body Type & Fat %, Muscle %, Bone Mass, Body Temperature, Hydration level and Blood Oxygen %; and buy a policy instantly.