India’s insurance sector is on the cusp of potentially significant regulatory changes. The Indian insurance market has been historically segmented into distinct health and life insurance sectors, each with specialised products and regulatory frameworks. But now the Insurance Regulatory and Development Authority of India is contemplating allowing life insurance companies to sell health indemnity insurance products. We discuss nine key capabilities life insurers will need to develop to successfully venture into the health sector, including: 

• Product design and pricing
• Underwriting management
• Policy administration
• Claims management
• Actuarial and analytics
• Management of the provider network, portfolio, and distribution channel
• Care management function