E-commerce marketplace Flipkart has partnered with ICICI Lombard to offer Hospicash insurance to consumers.
Compared to the standard indemnity health insurance policies, Hospicash is a benefit offering that allows consumers to avail a fixed amount for each day of hospitalization. The fixed daily amount enables consumers to pay for incidental medical or emergency expenses. The insurance is affordably priced, paperless, and flexible, covering both accidental hospitalizations or planned surgeries/ treatment.
Sanjeev Mantri, executive director,“ Our Hospicash insurance is an affordable and convenient offering that can help consumers meet their daily incidental expenses during hospitalization. This is in line with our brand ethos of Nibhaye Vaade to go the extra mile to handhold customers during their hour of need.''
Ranjith Boyanapalli, head – Fintech and Payments Group, Flipkart, said, “As consumers increasingly understand the importance of health insurance, we want to ensure that Flipkart is their one stop solution to provide them services for a holistic health protection plan.”
Indians incur significant expenses during hospitalization. According to research , the direct average out-of-pocket expenditure during hospitalization in India ranges between Rs 4,452 to Rs 31,845 for a person, whereas the average loss of income due to hospitalization is estimated to be around Rs 8,164. The Hospicash insurance policy offered by ICICI Lombard provides consumers an extra allowance to not just cover emergency medical expenses’ but also travel and post-discharge costs and compensation for loss of income during hospitalization.