PSU General Insurers Join Hands To Form Third Party Administrator

With a view to speedy settlement of the claims and to provide cashless facilities to the beneficiaries, the four public sector general insurers, United India Insurance Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited and New India Assurance Company Limited have decided to join hands to form a Third Party Administrator (TPA).

Speaking to the reporters, Chairman-cum-Managing Director of United India Insurance, Mr. Milind Kharat said, “We will tie up with several hospitals in the country to increase the network of our services."

To make the services more hassle-free, we have joined hands, Mr. Kharat said, adding, general insurance industry has clocked a business of Rs 78,000 crore in the last fiscal by registering a growth of 12 per cent.

It is observed that there are several cases where claims are not yet settled.

Source: http://www.insuringindia.com