Howden Insurance Brokers India has developed a specialised cancer group policy aimed at filling critical gaps in employer-sponsored coverage, with initial adoption by AstraZeneca India marking a significant step forward.
Howden Insurance Brokers India has created a cancer-specific group policy it says is designed to fill a gap in the Indian market, where dedicated employer-sponsored cover for the disease has been largely absent. The policy offers sum insured options ranging from ₹15 lakh to ₹30 lakh and can extend to family members, including parents, while also covering existing cancer-related claims without any waiting period. Howden says the cover is intended to sit alongside existing mediclaim policies and includes pre- and post-hospitalisation benefits as well as support for longer treatment paths, including oral medicines and newer therapies.
The move comes as cancer remains a growing health burden and insurers continue to wrestle with the high cost and long duration of treatment. Howden said its market assessment found that insurers have often been wary of launching such products because of concerns over incidence risk, pricing uncertainty and limited actuarial data. The firm says it worked with a number of insurers through several iterations to develop a model that could be sustainable while still giving employers a more tailored way to protect staff.
AstraZeneca India has become the first company to integrate the policy into its employee benefits, calling it part of a broader effort to improve access to healthcare. Praveen Rao Akkinepally, country president and managing director of AstraZeneca India, said the company wanted to begin that effort at home and hoped the initiative would encourage a wider rethink of employee wellbeing. Amit Agarwal, managing director and chief executive of Howden India, said the exercise showed that insurers could address complex health risks through collaboration and a willingness to challenge conventional approaches.
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