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Bajaj Allianz Health Insurance - health insurance policy by Asha Nanda
Bajaj Allianz Health Insurance - health insurance policy |
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Business,Finance & Investment,Insurance
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The Insurance Regulatory and Development Authority of India (IRDA) defines TPA as a Third Party Administrator who, for the time being, is licensed by the Authority, and is engaged, for a fee or remuneration, in the agreement with an insurance company, for the provision of health services. TPA was introduced by the IRDA in 2001. The TPA acts like a claims adjuster for the insurance company. In some cases the insurance company sets up an entire department within their own company to act as TPA as opposed to hiring a commercial TPA company. In the infographic below, we detail the benefits of a company with its own in-house claims team, and why this should be an important factor when you select a health policy for yourself or your family.
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