The recent increases in health insurance premiums are being actively addressed by the Insurance Regulatory and Development Authority of India (IRDAI), according to IRDAI chief Debasish Panda.

Collaboration between health insurers and healthcare providers is being emphasized to establish a better understanding of medical treatment pricing.

Panda highlighted that a solution to the premium hikes will emerge through coordinated efforts among all stakeholders involved.

Price rationalization is expected as the health insurance customer base expands, with the pricing of health insurance covers being influenced by claim experience and actuarial principles.

All parties are currently working together to explore ways to make health insurance products more affordable for consumers.