Bajaj Allianz health card rewards healthier living

Health insurance has never been an economically viable option for non-life insurance companies.

Now to reduce the claims burden, the industry and the intermediaries are trying to go the preventive healthcare way.

The reason is simple — better health ensures lesser claims.

On Thursday, Bajaj Allianz General Insurance along with Yes Bank and Visa launched its Jiyo Fit programme, whereby one can opt for a Health Debit Card along with his medical policy.

With this card, one can get discounts at gymnasiums, beauty and skin clinics, spas, retail chains and chemists. The health card will be offered by Yes Bank on a zero-balance savings account and point collection and redemption will be powered by Visa’s network.

“Health Card members earn loyalty points each time they exercise. Buying healthy food and beverages at partner restaurants or medicines from the partner chain of chemists will also get them discounts,” said Hemant Kaul, MD & CEO at Bajaj Allianz General Insurance.

Some of tie-ups include retail-chain More, VLCC, Make me Healthy, Hetero, Talwalkar’s, premara, Clear Trip, Gold’s Gym, Dr Batra’s, La Belles Slimming Centre, Sayaji Hotels, Cholayil Sanjeevanam, etc.

Customers can also get discounts on diagnostic tests and if any improvement is found in the patient’s report they will get loyalty points which can be redeemed.

Insurance intermediaries such as Medimanage Insurance Broking are also mooting an online-cum-distant way of helping people keep illnesses at bay.

“People can give a health test and access their health score online free of cost. After that, our team can suggest ways of improving customers’ health and track whether they are following the programme over phone calls. Many people do not have the time to go to a dietician or a consultant. This programme will cost Rs6,000-8,000 per annum,” says Sudhir Sarnobat of Medimanage Insurance Broking, which will launch the programme in a couple of months. 

“We can then tell insurance companies that these customers have been following a health regime,” he said.

In another similar effort, the Indian Health Organisation (IHO) offers a health card which gives discounts on preventive health check-ups where the first two consultations are free of cost.

The above moves and promotions will help reduce the loss-making health portfolio of non-life insurance companies. “The industry is not making money on mediclaim,” said Kaul.

Life insurers offering health insurance products are also making an effort in identifying healthy customers. ICICI Prudential Life offers different premiums for those who consume tobacco from those who don’t.