News eDaily24 Oct 2017

India:Health insurer launches innovative health ATMs

24 Oct 2017

Max Bupa Health Insurance has launched health ATMs - the first such innovation in the country. The machines conduct non-intrusive medical tests and issue health policies for up to INR1 million (US$15,400) without manual intervention.

The health ATMs will initially be installed in branches of banks that partner Max Bupa for distribution, reported Times of India.

"This will simplify the purchase journey for health insurance products and more importantly ensure that the policy is delivered seamlessly to them. What ATMs did to banking, we should be able to do for health insurance with these machines," said Ashish Mehrotra, MD & CEO of Max Bupa.

The company will initially launch around 20 machines in Bank of Baroda within a month. This will be expanded to 100 in three to six months.

Max Bupa is working with a health startup to launch this service. To keep this simple the company has decided to restrict the medical tests to non-intrusive tests and provide simple indemnity covers instead of the company's flagship policy which requires more documentation. To buy the policy, the proposer has to key in his mobile number and enter the validation code and biometrics in the machine. The machine will then measure various parameters starting from height, weight, blood pressure, blood oxygen levels and temperature. The data will be used to calculate parameters such as body mass index, bone mass, and muscle mass. The data will be transmitted and analysed real-time to arrive at a health score. The machine will then offer suitable products.

Initially, the offering will be available to bank customers as this would take care of the “Know your customer” requirements. In future, the company is looking at using biometrics for customer authentication.

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