Mumbai: Public sector insurers are relooking at their investment in Health Insurance TPA of India, a captive services company, for its inability to meet objectives.
Sources said a committee comprising former Oriental Insurance chairman Anjan Dey and other PSU officials has been set up to submit a road map. A TPA (third party administrator) is a company that undertakes back-office claims work in respect of health insurance. HITPA was incorporated in 2013 in Delhi with two key objectives to enhance customer experience and increase efficiency in the PSUs’ health insurance claims processing. A corollary benefit would be to reduce the bleeding in the health insurance portfolio of public sector insurers.
HITPA is a joint venture of five public sector insurance companies — National Insurance, Oriental Insurance, New India Assurance, United India Insurance, and GIC of India. PSU insurers had put Rs 120 crore into the TPA, which went into building up the necessary infrastructure.