Medi Assist is a big deal in India’s health insurance sector. The largest third-party administrator (TPA) in the country by a considerable distance, it has been a lifeline to health insurers since its inception in 1999, nearly two decades ago. TPAs, for those unfamiliar, are organisations that help coordinate the claims settlement process for health insurers.
Medi Assist was the product of the Insurance Regulatory and Development Authority’s (IRDA) realisation that processing health insurance claims in-house was neither feasible nor sustainable for insurers. In response, it opened the door for TPAs in 2001.
Health insurance is booming, but India’s largest TPA is in a muddle
Medi Assist forged all the right alliances to become a behemoth in everything healthcare. But now the rules of the game have changed and Medi Assist is feeling the strain
Medi Assist has been looking to fund raise or sell since the beginning of 2017
It began with a valuation of 10 times its annual revenue but has dropped its expectations since
It is running against the clock as its investors want an exit
What are the reasons behind India’s largest TPA being unable to find willing buyers?