The final quote has been received from New India Assurance for renewal of the existing Group Health Insurance Policy in 2022-23 which is very high as the claim reimbursement for the ongoing policy is very high (Almost 18 crores against premium paid of around 7 crores with one month left). The company is not showing interest to give relaxation in the Quote Price provided for renewal of the Policy. However, AIGETOA Team is taking its best efforts to negotiate down the premium further.
The group policy floated by AIGETOA from NIA with Medi Assist as TPA was definitely a smooth and hassle-free experience with no hurdles as such in claim processing or getting treatment in best hospitals of India and that too during the most difficult COVID Period. The quote received from New India Assurance for AIGETOA GHI Policy Renewal is very high and we can not agree to such hike in premium rates. The association tried it’s level best to bring a competitive rate from the insurer till last moment but insurer didn’t agreed citing high claim in the ongoing policy.
Hence we thought it appropriate to inform one and all, so that everyone can take an informed decision.
In the present circumstances, AIGETOA may not renew the policy if the premium rates do not come down to our satisfaction. So the existing members may take a decision accordingly.