How is acko health insurance

@MrKool_JJ @malikcool @guest_999 @BubbleBoyChickenLittle @Gulag-Survivor @AyushiiiVijay @Wontdisplaymyname @playdime @Priyanka @Rosh_0007 @Fanil 

@decideaim @kartikxxx @xxxyyyzzz @Tanmayyy @Dastro @amdoinggood123

Checking this  but could not read exclusions and max coverage cap per disease.

Also they would have given 7100 hospital list in excel, searching how many hospitals is difficult with list running into pages.

@saucap @vijkap201 @raghupro

@Chudiya

@neehesh @EkdamSastaRaju @agnivo007 @jambui @Tjs15 @EkakiAmi @bankipad

Recently found out acko doesn't even service my metro-suburban pincode! And that's just auto insurance, not health. So cannot comment... @bikidas2060

Guess what guys. I have bought the 50 lakh plan as a test drive as most of us don't have a clue. I am adding the necessary stuff in deal wiki. Just received the doc's call she ll call me again in 15 mins. The policy is subjected to be approved. I have the free look up period with me. And I guess I ll have to burn 1000-2000 rupees for medical check up fees if any otherwise I ll disclose the entire thing here.

@Chudiya @MrKool_JJ @malikcool @guest_999 @decideaim @Time_pass @playdime @EkdamSastaRaju @Tanmayyy @jambui @EkakiAmi @neehesh

I wouldn't suggest to go with such new player particularly for health insurance. 

This insurance companies can literally F*** u with their hidden T&C if their intention is not good. Even establish players are doing such tactics - We come to know abt it only when we face it. Then policy wording is like lawyer language, everyone can have their own opinion. & Then keep fighting against company. 

Real test comes after claim not buying the policy. 

@bikidas2060 Though I hope you never come to test stage.

While this is quite interesting,  i was checking with ap**lo hospitals with a known billing head to know how this is working. He does not have idea but told , hospitals with networks are providing packages which works out same ( in sleep also they dont speak truth only advertisements). He said these packages wont be part, if we come with other insurance except theirs.

I remember that when father has undergone stunt procedures i was offered a package of 2.89L in dec,2019( no insurance) and i opted for it. This otherwise costs 4.2L is what they said. 

I am not sure about monetization benefits,  but was hassle free for me that time. I felt the following

1. Next day operation appointment  this was possible only after i said i dont have HI.

2. Quick room availability of our choice.

3. Hassle free checkin date and check out date.

I am not sure if i felt it, its good to be true.

My fathers colleague who has undergone same stayed more days has been prescribed more medicine and has every dam doctor visit everday in and out. He has HI insurance. ( i know every patient is different,  health conditions different, body what not. But to my eyes both look healthy without any known complications at the time of procedure).

i wanted to share one car insurance experience.

I have national insurance policy and when i opted for insurance.

1. The parts will take 1 week to arrive.

2. The approx quote of parts was high ( ofcourse they have MRP)  and there are labour charges etc and other small stuff.

3. 1000 rs min. for claiming .

I visited another service station of same company and said i dont want to claim insurance.

Next day they called and by that evening my car was ready and to my surprise 30% lesser than the earlier service station quote.

I am still trying to understand 😕. 

The parts available outside service stations also come atleast 10% cheaper, but the service company claims they are not good.

Its big for me to understand. 

May be when companies rule over people thats how it will be. 

When step into any corporate i see monies behind every smile

You may disagree but educated are brainwashed to opt for insurances and articles will be so nice to read and adopt. 

One side healthy life style articles, otherside HI companies. So brainwashed that we have to test waters evertime 😞

@bikidas2060

Update: 

Policy has been declined due to pre-existing medical conditions. In my case it was Anal fissure. 🐒🙊

@MrKool_JJ @malikcool @guest_999 @EkdamSastaRaju @jambui @playdime

Also the Main Point - Day care procedures.  Some companies only cover 180 day care procedures  & some cover more than 500 day care procedures. 

Day Care procedure -   It is basically the nature / reason of your operation / hospitalization. 

Hence Before selecting any company one should definitely check which company has good coverage of day care procedures. 

It has been my experience some companies right away reject the claim stating that it is not included in our day care procedures. 

bikidas2060 Can you upload the terms? 

PED cover from Day 1 is a gimmick. They are not going to issue you policy if there is any PED. They rejected policy for my dad with controlled diabetes and blood pressure.

Couple of years back, I did research on Acko motor insurance and went with them after being satisfied with user experiences. Fortunately, I didn't have to file any claim myself, but I started looking for Super Topup plan and found their plan attractive. I checked IRDAI annual report for 2021-22. Here are some observations on Acko insurance (please correct me if I am mistaken on any of the points):

1. Their premium collection for health segment increased from ₹96.59cr in 2019-20 to ₹122.98cr in 2020-21 to ₹407.12cr in 2021-22. Though they are still 1/10th of other behemoths private players like HDFC Ergo, they are growing at a very healthy pace.
2. Their equity share capital in 2020-21 was ₹596.00cr and they had a fresh infusion of another ₹550.00cr (compared to only ₹50cr previous year), this I think means investors infused more equity capital which can help the company stabilize and grow faster (e.g., more money for development, marketing and launching new products)
3. Incurred Claim Ratio (ICR) went up from 21.08 (2019-20) to 84.64 (2020-21) to 103.75 (2021-22). There is a consistent increase and a rate higher than 100 means they are willing to lose money to do the right thing. They hopefully took correction actions by increasing the premium and/or updating their processes (e.g., fraud detection).
4. Claim status numbers show that 97.2% of their claims are settled with in 3m which seems to be on par with the industry.
5. Settlement Ratio is 75% (242,457/(326,199+5,246−8,830)*100) is a bit low if you compare this with HDFC Ergo which has 95.6%. I have however read that this number is quite often manipulated to show higher claims paid number and so it is more reliable to make sure repudiation rate is low and ICR is high. Repudiation rate is 2.3%, which is again not as low as HDFC Ergo (0.28%), but it may actually indicate their effectiveness in identifying frauds.
   1. NOTE: These numbers are not specific to health policy alone and they tend to be different in different segments such as motor, fire and health, so these comparisons between companies tend to be non-conclusive, unless someone with deep domain knowledge can pitch in and validate.
6. Solvency ratio is 1.68 above the recommended rate of 1.5.

I am curious to know what others think of these numbers and if they would deem Acko at least as consideration worthy. I couldn't find many reports of claim experiences on the internet (found just a couple of +ve, including one in this thread itself), but at the same time I didn't find any -ve experience. I am going to ignore the reviews on MouthShut.com as all insurance companies get banged up there.

Update: Policy wording for exclusions. Does anyone see any exclusions that is unusual?