Through incentives like discounts and lower premiums, health insurance companies encourage policyholders to lead healthier lifestyles.
According to Rakesh Goyal, director of Probus Insurance Broker, this strategy has improved not just the health of the policyholders but also “on the general health of the population.”
The health insurance companies urge its clients to maintain a regular exercise routine, eat a healthy diet, and get frequent checkups. As a consequence, policyholders are encouraged to maintain good health, which lowers healthcare expenses.
According to Venkatesh Naidu, CEO of Bajaj Capital Insurance Broking, insurers provide wellness programmes that reward policyholders for making healthy decisions and support healthy lives in order to promote them. He continues that these initiatives may include coaching or counselling services, gym memberships, and teleconsultation services.
The wellness programmes provide policyholders the assistance they need to make significant lifestyle changes and assist them in leading a healthier lifestyle. Insurance companies want to encourage customers to develop healthy behaviours and lower their chance of developing chronic illnesses by offering incentives.
Additionally, some health insurance companies offer policyholders wearable technology or fitness tracking apps to keep track of their fitness routines. They may get reductions on their renewal rates by doing this. Another approach to encourage policyholders to be active and monitor their fitness improvement is via this.
According to experts, health insurers’ initiatives to encourage policyholders to lead healthy lifestyles are a welcome shift and may significantly improve the general public’s health and well-being.
Insurance providers must, however, make sure that any incentives and discounts are reasonable and do not unfairly target those with disabilities or pre-existing medical issues that would make it difficult for them to lead healthy lives.
On the other hand, insurance companies profit from lower healthcare expenses by rewarding healthy lives with benefits like lower premiums, while policyholders profit from increased health and cost savings.
