Standardisation only way to make insurance claim settlement data meaningful: Anuj Tyagi of HDFC ERGO
Moneycontrol
Anuj Tyagi of HDFC ERGO emphasizes the need for standardized claim metrics in the insurance industry to improve data analysis.Summary
Anuj Tyagi, MD and CEO of HDFC ERGO, believes that standardization is crucial for making insurance claim settlement data truly meaningful. He highlighted that the industry currently faces challenges with unresolved Input Tax Credit (ITC) anomalies, placing a significant financial burden on insurers. Tyagi suggests either allowing ITC or accepting higher costs within the ecosystem. He also noted the positive impact of the GST exemption on health insurance demand and retail conversions in 2025, with insurers passing the full GST benefit to customers despite the ITC disadvantage. The industry is now focused on establishing standardized claim metrics and achieving nearly 100% cashless healthcare transactions.
(Source：Moneycontrol)