How is a Health Insurance different from a Mediclaim Policy?

| February 26, 2019

article image
Difference between Health Insurance and Mediclaim Policy. Even before one can zero-down on a Health Insurance provider that they feel is best for them, it is suggested that an individual first understands the difference between a Health Insurance Policy & a Mediclaim Policy since they are very different in terms of the coverage they offer. Where a Mediclaim Policy offers coverage only for Hospitalization – whether in-patient or domiciliary; a Health Insurance is more comprehensive & extends coverage beyond basic hospitalization to include coverage for Ambulance, Day Care Treatments, OPD Expenses, Critical Illnesses, Pre & Post-Hospitalization Expenses & much more. Hospitalization coverage in case of Mediclaim policy is limited to some specific pre-defined illnesses & does not cover major critical illnesses such as cancer, major heart surgeries, liver transplant etc. Although a Mediclaim policy just like Health Insurance Policies offer family floater plans which means one could cover multiple family members in a single policy. This means parents, spouse and children, all could be covered in a single policy.

Spotlight

Anchor Insurance Holdings

At Anchor Insurance, it’s all hands on deck. It’s teamwork at its best. We’re joined together with a common mission: to be the best home insurance company around…for our policyholders, agents, each other and all those we serve.

OTHER ARTICLES

How chatbots are driving insurtech

Article | March 10, 2020

The first chatbot, called ELIZA, was built in 1966 by MIT professor Joseph Weizenbaum. It used a pattern matching system to simulate a human conversation and gave a series of scripted responses designed to have it play the role of a therapist. Today, chatbot technology is a vital part of the way that companies across a myriad of sectors interact with their customers, with applications covering everything from content delivery to conversational ecommerce. By 2025, the global chatbot market is expected to reach $1.25bn.

Read More

IoT Combined With AI? A Revolution

Article | March 10, 2020

Data is the foundation of insurance, and two emerging technologies, the Internet of Things (IoT, and artificial intelligence (AI), are making that foundation more useful than ever. IoT allows internet-connected devices to send and receive real-time data. Insurers are increasingly using IoT data to streamline operations, improve customer engagement, offer discounts for and encourage healthy behavior such as safe driving and regular exercise, calculate risks more accurately, boost competitive advantage and streamline compliance.

Read More

Three insurtech trends to watch in 2020

Article | March 10, 2020

As the technological transformation of the global business landscape continues, more and more industries are feeling the pressure to embrace the potential of digital solutions, or be consigned to the scrapheap. In the unending quest for legacy industries to stay agile and avoid disruption, leading edge technologies are fusing with existing business models to create new, tech-driven disciplines. Fintech has been one of the great success stories of this trend, as financial institutions harness the power of artificial intelligence (AI), big data and multi-platform customer experiences (CX) to meet the expectations of their customers.

Read More

5 Deep Learning Use Cases for the Insurance Industry

Article | March 10, 2020

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

Read More

Spotlight

Anchor Insurance Holdings

At Anchor Insurance, it’s all hands on deck. It’s teamwork at its best. We’re joined together with a common mission: to be the best home insurance company around…for our policyholders, agents, each other and all those we serve.

Events