Policybazaar partners with Young Ophthalmologist Society of India

Policybazaar for Business (PBFB) has partnered with the Young Ophthalmologist Society of India (YOSI) to offer customised insurance solutions to young eye care professionals. This initiative seeks to address the growing need for risk management support for doctors under the age of 40, who often face high litigation risks and lack the resources to navigate complex legal challenges.

PBFB has observed a significant rise in demand for professional indemnity (PI) insurance among eye specialists in India. Since March 2024, PI queries have increased by 75 per cent in Tier-I cities and 100 per cent in Tier-II and Tier-III cities combined, indicating the growing awareness and necessity for tailored insurance plans.

Through this collaboration, PBFB will provide YOSI members with specialised offerings, including competitive premium rates and coverage options through its partnerships with major insurance companies. The core product in this initiative is the Doctor’s Professional Indemnity Insurance, designed to protect medical practitioners from unexpected professional risks.

Key benefits for YOSI members include:

• Doctor’s Professional Indemnity Insurance: Coverage options ranging from ₹50 lakh to ₹3 crore, with annual premiums starting at ₹963 for non-surgeons and ₹1,181 for surgeons.
• Dedicated Medico-Legal Support Panel: Expert legal guidance available within four hours of any incident.
• 24/7 Claims and Legal Assistance: Round-the-clock support for claim resolution and medico-legal issues.
• Enhanced Pricing and Instant Policy Issuance: Competitive premiums with instant delivery of policy documents.
• Tailored Risk Analysis: Personalised evaluations to identify specific vulnerabilities and recommend optimal coverage.

Sajja Praveen Chowdary, Director and Head of PBFB, said, “Doctors face unique challenges in balancing their demanding roles with the legal and financial risks of their profession. PBFB will provide a dedicated relationship manager for all professional and personal insurance needs of members of YOSI, thereby providing them with 360-degree coverage. It is a milestone in our mission to empower medical professionals across India with essential insurance solutions.”

Dr Aditya Sethi, a Gurgaon-based ophthalmologist and YOSI member, added, “Young surgeons do not have deep pockets but are at a high risk of litigation. It helps younger professionals to be more confident, more precise, and can help us become better doctors.”

This collaboration marks a significant effort to improve insurance accessibility and awareness for young eye care professionals in India. PBFB aims to continue empowering medical practitioners with solutions that allow them to focus on patient care without the burden of financial or legal concerns.