.png){kind=logo}
When you buy health insurance, the company decides how much your premium should be and what kind of coverage you can get. This process is called insurance underwriting.
Earlier, insurers mostly relied on forms you filled in and basic medical tests. But today, they can also use your health data, like information about your lifestyle, medical history, and even daily habits, to make more accurate decisions. If used properly, this can benefit both you and the insurance company. Let’s see how.
Your health data can give a clearer picture of your current health. This may include:
Results from medical check‑ups.
Details of treatments or medicines.
Blood test reports or scans.
Your medical history can help insurers predict possible health issues. For example, those with a family history of diabetes may be offered a plan with specific terms, such as adjusted coverage or additional screenings, based on their risk profile. Insurers like ACKO consider disclosed medical history during underwriting to assess health risks and determine suitable policy terms.
The process of buying a policy becomes much faster because you will have verified health data. The insurers will not ask you to go through different medical tests or fill out multiple forms. This makes the paperwork less stressful, and you will also not have to wait weeks for the approvals.
Health data doesn’t just help when buying insurance; it can also make claims smoother. At digitally integrated hospitals, treatment details may be shared quickly with the insurer. Claims can be approved faster when relevant medical history is already available, reducing the need for repeated document submissions. This means you’re more likely to get the support you need during a medical emergency without unnecessary stress.
With ACKO Health Insurance, claims are processed digitally, enabling faster approvals and a smoother experience for customers
Your healthy habits can be tracked through fitness apps or wearables. While this data doesn’t directly impact your premium today, some insurers in India have wellness programs that may offer you bonus benefits, reward points, or cashback vouchers for maintaining good health.
Why it is Important for You
Using your health data for insurance underwriting can benefit you in several ways:
Give you fairer pricing
Instead of charging everyone the same, insurers can use your actual health information to decide your premium. If you’re in good health and take care of yourself, you won’t end up paying the same as someone with higher health risks.
Provide better‑matched policies
Your health data can be a channel for insurance companies to recommend plans suitable for your needs. They can probably provide you with policies offering stronger heart-related coverage if your family has a history of heart disease. On the other hand, they can also help-you-young-and-healthy with plans that are cost-effective and lack unnecessary extras.
Strengthen your long-term insurability
Maintaining accurate health data can help build a positive health profile over time. This can work in your favour when renewing policies, increasing your sum insured, or buying additional health coverage later. A consistent health record signals lower risk, making it easier to qualify for future plans without additional checks or exclusions.
These were the ways in which your health data can be used to further insurance underwriting. The gist is when the insurer ensures safety in handling your health data, you will be insured better, charged a reasonable price, and served timely.
Technology is progressing day-by-day, making health insurance in India more accessible and useful. And by monitoring your health and sharing that information responsibly, you can ensure that the insurance will really work for you. Health insurance is a good decision as it is your support in times of need. But one must look after one's health to live well and keep health issues away.
