Originally published: March 11, 2008
Source: Allianz
CARE International and Allianz have partnered to offer community health insurance in the 2004 tsunami affected areas of southern India. The community-based health insurance scheme offers packages which protect people against natural catastrophes or accidents for well under 10 cents a month. Within a year, CARE and Bajaj Allianz, Allianz’s Indian joint-venture partner, expect to reach out to 200,000 customers, aged 18 to 70.
With technical advice from Bajaj Allianz and CARE, the villagers set up a community fund, known as a Mutual, into which they pay their monthly insurance premiums. The fund retains 65% of that income, while the balance amount is passed on to Bajaj Allianz which uses the sum to cover expenses for excess payments.
In case of illness, a doctor ,appointed by Bajaj Allianz and CARE treats the villagers and if necessary, sends them to partner hospitals in the region. Most medical treatment is covered by Mutual up to a ceiling amount agreed in advance by the community. Bajaj Allianz covers any costs above that amount, such as surgery or other complex procedures.
To read the complete article, please click here.