RATIONALE FOR PROHEALTH PREMIUM REVISION

 

ManipalCigna ProHealth Prime Insurance(UIN: MCIHLIP26036V022526)

 

ManipalCigna Health Insurance (MCHI) has observed rapid deterioration in claim ratio for its retail product due to increase in hospitalization incidences as well as outpatient expense utilization. The ultimate incurred claim ratio observed for “ManipaCigna ProHealth Prime Insurance” product during the financial year 2024-25 is 64.1%. The Company expects the claim experience to further deteriorate in the near future due to portfolio becoming more mature (which reflects high claim outgo) and the medical trend (estimated at ~12%-13% per annum in India). In order to keep this product financially viable and self-sustainable, MCHI has increased the premium rates for this product, for the first time since it’s launch in April 2022.

ManipalCigna ProHealth Prime Insurance product with revised premium will be effective from 2^nd June’24.