Health insurance most relevant.

• Author: Haider, Ali
• Position: Akif Zia Malik

Byline: ALI HAIDER

Profile

Akif Zia Malik, HOD Business Solutions, TPL Insurance

Having a degree of Mechanical Engineering and MBA, both from the UK, Akif Malik has a diversified experience working within Manufacturing as well as Services Industry of more than 20 years.

Akif has an insurance industry experience of 15 years, both in Non-Life and Life Insurance Industry, where he has led Agency Distribution Channel, Banca Channel as well as corporate sector and is well versed with the developments happening within the insurance industry.

Mr. Akif Zia Malik, Head of Corporate Business Solutions at TPL Insurance Limited, shares his opinion and thoughts on the importance of healthcare as well as conventional and Takaful coverage

PAGE: Explain the categories in business and corporate insurance. What makes them different from other claims?

Akif Zia Malik: Business and corporate health insurance claims have some unique aspects compared to individual health insurance claims:

Group Nature: Business health insurance is provided to a group of employees, and claims are often processed collectively. This can sometimes provide the advantage of better rates and terms due to the larger risk pool.

Employer Contributions: In many cases, employers contribute to the cost of health insurance premiums, making it more affordable for employees. This is different from individual plans where individuals bear the full premium cost.

Customization: Employers can tailor health insurance plans to suit the needs of their employees. They might offer multiple plan options, such as HMO, PPO, or HDHP, allowing employees to choose what best fits their circumstances.

Regulations and Compliance: Business health insurance plans are subject to specific regulations and compliance standards, including those outlined by the Affordable Care Act (ACA) in the United States. These regulations impact plan design, coverage requirements, and reporting obligations.

Overall, the categories of business and corporate health insurance plans offer a range of options for employers to provide healthcare coverage to their employees. These plans aim to balance cost, coverage, and flexibility while addressing the unique needs of a group of individuals.

PAGE: Explain the terms and conditions of pension and health insurance claims in your company? What type of covers in the company, clients usually prefer?

Akif Zia Malik: Health insurance product are broadly categorised under:

Outpatient (OPD)

In Patient...