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Insurance

1
Insurance

LIC to New India, pandemic claims swamp insurers. It’s time they take care of their own health, too.

Covid-19 cases are rising, so are insurance claims. While insurers are focusing more on speeding up claims processing and cutting the time taken to give payouts, they face key challenges on multiple fronts — two months of subdued premium receipts and renewals; higher capital requirement once business regains momentum; and a rise in hospitalisation settlements after the virus outbreak is over.

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