Product Design: Critical Inputs

INCHES Consult/ Advisory

Team INCHES offers critical, intellectual inputs in:

DeRisk a new concept

Given the huge upfront investments in an insurance product launch, it is imperative each product consumes intellectual capital before significant outside capital and effort is invested and new products are rolled out only after testing assumptions & validating proxies. We De-risk your products before you implement your expansion strategy, convert assumptions into knowledge of riders & loop-holes that help launch your product with lower risk, decreased assumptions that increase value and provide unprejudiced opinion on how the product will make you succeed or fail quickly - all this with Indian perspective.

  • Assistance in fine-tuning of Product offerings/ deliverable
  • Designing documents pertaining to medical process
  • Review of policy documents
    • Health
    • CI & other riders
  • Digital sourcing & associated fraud
  • Pre-filing policy documents to the regulator
  • Review of policy documents to identify future areas of customer grievance / specific concerns to compliance, legal and claims
  • Periodic review of products vis a vis projections at launch and suggest modifications/ other actionable
  • Underwriting
    • Creating/ Evaluating the SOP/ Manual
    • Medical matrix
  • Claims
    • Establishing end-to-end Claims Manual
    • Claims process with levels of escalation
    • Decision matrix, as well as
    • Amedical adjudication process
Claims Consultancy

We understand the Consumer mindset especially when perpetrating a medical fraud and have used it extensively in establishing our services. It helps improve both the efficiency and effectiveness of your underwriting/ claims decisions.

We empower your team through:

  • Continuous claims team education
  • Claims assessment and control
  • Process compliance
The Process

Each claim case undergoes a defined process where the team:

  • Scrutinizes the claim
  • Creates a hypothesis
  • Plans the investigation
  • Analyses the findings
  • Makes the final recommendation

Our Services offerings have been structured into:

  • Medical Record Review and Interpretation: Medical records (details furnished at policy issuance, claims and procured during investigations) are reviewed by our Medical team and a summary prepared. Consultation with our physicians/ CEO is also available.
  • Case Management: We facilitate and direct the investigation of insurance claim or litigation cases. Investigations, work done by outside investigators is reviewed by X-CLAIM team. Large sum cases are handled from intimation stage to analysis, directing/ monitoring investigation to final recommendation and opinion.
  • Opinions to support repudiation and/ or to justify paying of an early claim.