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States » EastPosted at: Dec 7 2020 5:31PM


ICICI Lombard and PLUM partner to provide India’s first technologically powered group health insurance products

Kolkata, Dec 07 (UNI) ICICI Lombard General Insurance, India’s leading private sector non-life insurance company has partnered with Plum, India’s fastest growing employee health insurance startup, to re-imagine and co-create India’s first technologically backed group health insurance products.
With the use of latest technologies, ICICI Lombard and Plum intend to solve four major areas of group health insurance – real time pricing, onboarding, policy management and claims.
The penetration of health insurance across India is abysmally low, with 0.29% of GDP being spent on the health sector. Not surprisingly, India witnesses one of the highest out-of-pocket expenditures. There is an enormous unmet demand for healthcare, with only 2% of the total healthcare expenditure being currently covered by insurance providers.
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