GENERAL INSURANCE BLOG

Quality sleep immensely affects your daily life and good health. Your sleep cycle determines everything from your mind to your physical well-being. If you lack adequate sleep, you can experience stress, fatigue, irritability, anxiety, headaches, and even depression. Things can sometimes get out of hand for you.

Lack of sleep can affect your personal as well as professional life. In a fast-paced world, getting sound sleep has become challenging. Adhering to a sleep schedule that works for you is even more difficult. There are many ways to get your sleep cycle back. From playing serene music to meditation and reading, anything can work out for you.

One such method is: sleep syncing. It is a comparatively new concept that has come in. It has been derived from sleep experts who have studied sleep patterns for decades now. With sleep syncing, you regain your regular sleep cycle. Let's learn more about sleep syncing here:

What is sleep syncing?
Sleep syncing refers to keeping your circadian cycle in check. The circadian cycle is the sleep-wake cycle of your body that takes place across the span of 24 hours. It is affected by various factors, including hormones like melatonin and even sunlight.

With sleep syncing, you give your sleep-wake cycle a gentle nudge. This way, your body will sleep when it's meant to. It will ensure better sleep, more energy, a good mood, and a healthy body.

How to practice sleep syncing?
There are many ways and means by which you can practice sleep syncing. They are as follows:

1. Fix a schedule
Having a timetable is necessary. You must set a designated time for sleeping and waking up daily. You can then align all your activities around the same. You can use a sleep tracker to find out your sleep length initially. Once you are sure, work out a schedule and set your alarm accordingly. You can also set a bedtime routine. It can include skincare, reading, meditation, light yoga, or even journaling.

2. Get sunlight
Sunlight plays a pivotal role in establishing your circadian cycle. When you wake up, ensure you get enough sunlight for your body. You can gently walk or stand in the sunlight after waking up. Pulling off your curtains and waking up to sunlight can be effective too. It helps fix your sleep cycle and even boost productivity.

3. Consume less caffeine
Do not incorporate a lot of caffeine in your daily routine. Caffeine can throw you off your circadian cycle and cause immense harm. Although caffeine effectively boosts energy, it can keep you up at night. If you consume tea or coffee late in the evening, it will keep you awake till late. You need to switch to decaf if you are addicted to caffeine.

4. Avoid gadgets
If you use your phone or laptop excessively before bed, you can find it difficult to fall asleep. It can disturb the production of sleep hormones in your body. It is advised not to use phones an hour before your sleep time.

Sleep syncing is one of the most effective tools to fix your sleep cycle. It has been proven effective for many people across the globe. You can try the aforementioned pointers for yourself to get the desired results. Also, remember you should always have online health insurance to keep you covered.

Click HERE to buy online health insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

The Indian healthcare industry is one of the biggest sectors of the Indian economy in terms of revenue and employment. Investment in the public, as well as the private healthcare sector, has shot up multiple times in recent years. This sector comprises hospitals, medical instruments, research and development, outsourcing, and health insurance.

Let us look at the possible future of the Indian healthcare system, industry growth, and the major challenges.

Opportunities
Let us first assess the opportunities in the Indian healthcare industry.

1. Excellent growth rate
The Indian healthcare industry is witnessing a buoyant growth rate in recent years because of the increase in consciousness of the Indians towards health upkeep, especially after Covid-19. Also, a rise in income levels, increasing health awareness, and growing government support in the healthcare sector contribute to a double-digit growth rate. Since 2016, the Indian healthcare industry has grown at a staggering CAGR of 22%.

2. Increase in health insurance
Health insurance in India has seen an increased penetration in recent years. After the advent of Covid -19, even the population living in Tier-II and Tier-III cities, as well as rural areas, are rushing to get health insurance policies. More youngsters are joining the workforce, boosting their disposable income and spending power. This has helped in increasing healthcare spending and is only set to grow at a higher pace.

This presents tremendous opportunities to existing health insurance companies and new entrants. They can develop new and unique policies to capture the untapped health insurance market.

3. Self-sufficiency and export
The Indian pharmaceuticals sector has also witnessed a tremendous pace in research and development and production of crucial medicines. India has accomplished administering over 170 crores of Covid-19 vaccine doses. Moreover, it also exported over 5 crore vaccine doses to around 70 countries.

India has made a mark for itself by achieving this feat in so little time. Vast opportunities lay ahead for Indian pharmaceutical manufacturers to take their production to global levels and cater to the world’s growing demand for medicines and healthcare equipment.

Make in India is becoming a reality. Indian companies have also started manufacturing CT scanners, ultrasound machines, ventilators, and MRI machines, which were fully imported until some time ago.

4. FDI and PPP model
India is inviting Foreign Direct Investment (FDI) to develop hospitals, healthcare centres, and medical equipment manufacturing. The foreign community is witnessing India as the next big investment destination because of the mix of skills and cost-efficiency of the Indian workforce.

To boost this sector, the government is also actively launching programs such as credit incentives, aggressive expansion through the PPP model (Public-Private partnership), setting up of new medical colleges, etc.

Challenges
Let us now look at some of the challenges in the Indian healthcare industry.

1. Doctor-patient ratio
A wide gap still exists in the doctor-patient ratio in India. Only 01 doctor is available for every 834 patients in India, which poses a huge challenge in providing medical services in a cost-effective manner.

2. Innovation and implementation of AI
The Indian healthcare industry is in a nascent stage. Innovating and producing high-quality medical equipment and medicines in India at low prices is a challenge. Also, AI-based software in various processes must be implemented as fast as possible as in other developed nations. Covering smaller cities and towns with such software can be a daunting task.

The future of the Indian healthcare industry is bright and shining, with more opportunities in view than challenges. Much is still needed to bring world-class medical services and products to India, especially in smaller cities and towns.

The Indian healthcare industry is growing rapidly, which is excellent news for health insurance as well. With increased awareness of health and fitness in the Indian population after the pandemic, health insurance in India is going through its golden phase. It is penetrating its reach across the length and breadth of the country at a rapid pace, providing ample opportunities for growth in the sector.

Click HERE to buy health insurance in India.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Medical tourism is evolving rapidly in India. Previously a hub only for cultural and religious purposes, many Indian destinations have advanced their medical services with excellent infrastructure, world-renowned doctors, and a guaranteed standard of services at about 1/10th of the cost in other developed countries. India has also been the heart of many alternative medicines, and with growing interest in the field, people are flocking to the country.

The government has also made accessing the country for medical purposes much more effortless. A distinct category of visa, made especially for this situation (a medical visa), has also been introduced. Although medical tourism is primarily concentrated in some parts of the country, there are a lot of unexplored places to be added to the list.

This blog intends to introduce you to some medical tourism destinations in India that you may have yet to hear about.

1. Alleppey, Kerala
Alleppey is the centre of Ayurvedic treatments in the country. This is the best place to visit for rejuvenation through various ayurvedic treatments from skilled Ayurvedic doctors. Along with this, Alleppey in itself is a marvel to behold.

Often called the 'Venice of the East,' this place has the famous backwaters of Kerala, where several houseboats with comfy rooms are at your service. These houseboats have been modernised to provide the comforts of a basic hotel with air conditioners, western toilets, and balconies for viewing the lush greenery dotted with coconut trees. The beaches are also must-visits when you're here for various medical treatments.

2. Ahmedabad
Another city that is quickly emerging as one of the best destinations for medical tourism is Ahmedabad. With state-of-the-art facilities, it is surprising that this city is chosen less often for medical treatments.

There are some swoon-worthy places to visit in this beautiful city as well. You can register for various sightseeing tours to get a closer look at this mesmerising city. Whether it is strolling through the Modhera Sun Temple or getting to know the full history of Mahatma Gandhi in Sabarmati Ashram, there is something for everyone here. You can even visit Gir National Park if you're a wildlife enthusiast.

3. Goa
Although Goa is the gregarious party capital of India, the hospitals are constantly upgrading their infrastructure and equipment, which helps in making it another one of the most underrated places in India for medical tourism. Doctors are well-versed in English as well as Hindi, and this makes it much more accessible than a lot of places around the country.

4. Vellore, Tamil Nadu
With the Tamil Nadu government actively promoting medical tourism in Vellore, this city has promising alternative medical options. The variety of alternative medicine in this place makes it attractive for a select group of people interested in fields like acupuncture, Ayurveda, Homeopathy, and Unani.

5. Mumbai
The "City of Dreams" is becoming a popular choice of visitors approaching for various treatments - thanks to the city's advanced medical and research centres. People visiting Mumbai for medical reasons enjoy a fun time exploring the vibrant hotspots and getting adapted to the fast-paced life. Places like Marine drive, Victoria terminus, Haji Ali Mosque, Elephanta caves, Sanjay Gandhi National Park, and others are among the top picks to dive into the city's culture, heritage, and abundant nature.

Medical tourism in India is cost-effective and can be an excellent instrument for promoting the local economy. The above destinations make perfect packages of premium medical services and pleasant places to enjoy and boost positivity. Once you feel positive, you heal faster! With the rapid globalisation of services, getting an online health insurance plan suited to your specific requirements is equally important.

Click HERE to know more about online health insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Artificial Intelligence (AI) has transformed several sectors, and the insurance sector is no exception. AI has proven its value in the insurance sector, from speeding up claims processing to providing personalised policy recommendations. However, its potential extends far beyond claim settlements. This blog will provide insights into how AI can do much more than claim settlement for the insurance sector, especially in buying insurance policies online.

1. Chatbots for personalised recommendations
Buying an insurance policy online has become a preferred option for many people. It is fast, convenient, and often cheaper than buying a policy through a traditional agent. However, it can be overwhelming for customers who are unfamiliar with the insurance industry. This is where AI can play a crucial role in simplifying the process and making it easier for customers to find the right policy for their needs.

Chatbots are computer programs that use AI to automate customer conversations and address their queries via text or text-to-speech. They can answer questions, provide recommendations, and help customers purchase policies. For example, if a customer is looking for car insurance, the chatbot can ask them questions about their vehicle, driving habits, and other relevant information. Using this data, the chatbot can recommend policies tailored to the customer's needs. Chatbots can be integrated into insurance company websites and mobile apps, making them easily accessible to customers.

2. AI for risk assessment
AI can also help with risk assessment, a crucial part of the insurance industry. Traditional risk assessment methods rely on historical data and statistical models. While these methods are effective, they are limited in predicting future risks. AI can help overcome this limitation by analysing various data sources, including social media, weather reports, and satellite images.

For example, AI can analyse social media data to determine if a customer is at risk of a health issue. Suppose a customer frequently posts about unhealthy eating habits or lack of exercise. In that case, AI algorithms can flag them as high-risk customers and recommend health insurance policies that provide coverage for preventative care. This benefits the customer by providing them with the right policy from the best insurance companies by reducing the risk of costly claims.

3. Fraud detection with AI
Traditional fraud detection methods rely on manual processes and statistical models, which can be slow and ineffective. AI can analyse customer data and identify behaviour patterns consistent with fraudulent claims. This could include a customer who frequently submits claims for the same type of damage or a customer with a history of submitting claims at the end of the policy term. By flagging these patterns, AI can help insurance companies identify potential fraud and take action to prevent it.

4. Improving customer service with AI
AI can also help insurance companies provide better customer service. By analysing customer data, AI algorithms can identify customer behaviour and preference patterns. This information can be used to personalise customer service interactions and provide a more positive experience for customers.

5. AI as a tool to enhance human expertise
Suppose a customer frequently contacts customer service with questions about their policy. In that case, AI algorithms can identify this pattern and recommend that the customer be transferred to be contacted by a human agent for a more in-depth conversation. Doing this makes the customer feel heard and understood, while the human agent can provide more personalised assistance.

Overall, the potential of AI in the insurance industry is vast, and the benefits are clear. By embracing AI and incorporating it into their operations, insurance companies can stay ahead of the curve and provide better customer service. The process of how you can buy insurance policy online may have seemed daunting in the past, but with the help of AI, it can become a fast, convenient, and personalised experience for everyone involved.

Click HERE to learn more about how you can buy insurance policy online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.