Three ways to firmly control rising medical claims

SURVIVAL of the fittest in the world of Integrated Shield Plan (IP) insurers given the fast-changing landscape, be it in population demographic, lifestyle habits or advances in technology, now means they have to act quickly to cut their losses.

In the past, the IP insurer's business sustainability would predominantly hinge on whether it is able to properly underwrite the health risks, among other things. Another key factor is how much marketing muscle the IP provider is able to flex.

Now, besides having sound underwriting principles, they also need to take into consideration variables that change rather quickly and have to act to keep ahead.