Milliman India

Are we prepared for the next pandemic? Past pandemics like COVID-19, H1N1 (2009) and the Great Influenza (Spanish flu) have demonstrated how quickly a health crisis can become a societal and economic shock. But what if we could assess pandemic risk before it happens? This paper, Modelling Future Pandemic Risk in R Shiny Dashboard, presents a framework for the structured analysis of pandemic impacts. It is authored by Milliman consultants - Stijn Donckers, Marie Ganon, Eve T. and Menno van Wijk. It is worth a read if you work in insurance, healthcare or analytics: https://lnkd.in/gjC_mM4i #RiskManagement #PandemicModelling #HealthInsurance

India’s health insurance market is growing rapidly, but so are the challenges. Can strategic claims auditing help insurers strengthen cost control, support compliance and improve operational efficiency? Find out how in our latest blog, Turn Health Claims Auditing into a Competitive Advantage. #HealthInsurance #IndiaInsuranceMarket #ClaimsAuditing

Critical illness: Five lessons from the US market Critical illness insurance is growing rapidly in Asia. But sustaining that growth is a challenge with limited distribution channels and restricted repricing flexibility. In our report, Landscape of Critical Illness Insurance in Asia and the United States, the authors explore five practical lessons from the US that could help Asia’s critical illness insurers build for the long term: ➡️ Scale through workplaces: Partnering with employers helps diversify risk, lower premiums, and reduce acquisition and administration costs. ➡️ Simplify products: Modular designs (core coverage + optional riders) are more adaptable than complex, all-in-one policies. ➡️ Introduce flexible pricing: This allows insurers to react to regulatory shifts and enables them to introduce/refine benefits without long-term pricing commitments. ➡️ Build internal capability: Strong in-house data and actuarial teams enable product innovation, improve risk-sharing strategy, and strengthen reinsurance outcomes. ➡️ Engage regulators: Adopting medical loss ratio (MLR) standards can improve transparency and reinforce value for consumers. To explore the five lessons in depth, download your copy of the complimentary report: https://lnkd.in/g2-zJqs3 #CriticalIllnessInsurance #AsiaInsuranceMarket #InsuranceStrategy

Delivering care is one aspect. The way we pay for care is another. In India, we currently pay for services, not outcomes. This often drives costs higher without necessarily improving quality. How do we change this trend? Health systems across the globe are recognising the value of gradually shifting from the conventional system to a value-based care (VBC) model. More pertinent to India, the Middle East market offers a few practical lessons in how Diagnosis Related Groups and payment adjusters can help turn data into real payment reform. A possible roadmap for the Indian market: ➡️ Start with standardised clinical coding ➡️ Introduce Diagnosis Related Groups and a risk-adjustment framework ➡️ Run a pilot ➡️ Monitor and adapt the model You can read more about how this worked across Abu Dhabi, Dubai, Qatar, Saudi Arabia, and the UAE here: https://lnkd.in/gy_6rG6M #ValueBasedHealthcare #IndiaHealthReform #HealthcareFinancing #DataDrivenCare 

Why do many health insurers feel capital-constrained? An analysis of eight years of UK health insurance data by Christine Fairall observes that capital pressure doesn’t come from a single source. It comes from a combination of factors: ➡️ A changing mix of business and underlying risk profile ➡️ Claims and premium earnings volatility ➡️ Medical inflation So, capital optimisation can’t be a static solvency exercise. A risk-sensitive capital optimisation framework can: ✅ Improve return on capital employed ✅ Support more sustainable pricing and underwriting ✅ Strengthen financial resilience over the long term 📜 Download the full whitepaper to get a deeper perspective and explore three effective capital optimisation techniques: https://lnkd.in/ecC2wdRc   #HealthInsurance #CapitalOptimisation #InsuranceStrategy #HealthcareFinance

India leads Asia’s Life and Health M&A wave. Each year, we study global life and health insurance M&A trends, which provide useful insights to our clients and our own teams. This year’s edition contains a review of 2025 and an outlook for 2026 and beyond, covering transactions in North America, Europe, Asia, Latin America, and Africa. For the fourth straight year, India was the most active market in the region. Activity is expected to remain healthy into 2026 and beyond, although the pace may stabilise or moderate from 2025’s highs. Across Asia, the number of life and health insurance mergers and acquisitions fell by 15% in 2025, to 22 transactions, but deal values soared by 119%, to $5.8 billion. You can read or download your complimentary copy of the full report below for a global perspective or a country-by-country breakdown of 2025 deal specifics, key players, and future projections. https://lnkd.in/g4vG7eSE #LifeAndHealth #MergersAndAcquisitions #AsiaMarkets #FDILimits #InvestmentTrends #InvestIndia 

A US$20 billion cost-saving opportunity in healthcare. What’s holding it back? Administrative gaps, operational challenges, and manual workflows! The Council for Affordable Quality Healthcare (CAQH) 2024 Index highlights the magnitude of administrative inefficiency in healthcare, with routine insurance-related transactions costing nearly US$90 billion annually and an estimated US$20 billion savings opportunity through full automation. In India, a significant opportunity for improvement exists in claims processing, where delays, errors, and inconsistent coding are common. Layering on top of this is IRDAI’s mandated timeline of cashless pre‑authorisation within one hour and final authorisation approval within three hours of the receipt of a discharge authorisation request from the hospital. The solution is clear—move claims processing from manual to automated workflows. A recent study by Dr. Nazish Nazki and Mary John Shekhar shows how claims automation can transform India’s insurance ecosystem. Tools like Milliman Health ClaimsRef are already helping Indian payers with rule-based, standardised decisioning. If you would like to know more about how your organisation can do this, contact your usual Milliman consultant or comment below. Read the study: https://lnkd.in/gB8y5j6m #ClaimsAutomation #InsuranceEfficiency #InsureTech #ClaimsProcessing #IndianInsurance

Perspectives from industry leaders: Transforming Value-Based Healthcare in Saudi Arabia.   Several of the leaders shaping Saudi Arabia’s future healthcare met at the Milliman Value-Based Healthcare Transformation Summit in Riyadh earlier in February. They explored, facilitated by Milliman consultants and data, how value-driven care can fast-track Saudi Arabia’s Vision 2030 goals, with a focus on delivering better outcomes, exceptional patient experiences, and sustainable cost control. What does it take to make Value-Based Healthcare (VBHC) a reality in the Kingdom? Here are 4 key takeaways from these discussions: ⭐ Reform 2.0: It’s redefining the roles of payers, providers, and regulators. The momentum is real. ⭐ Data-Driven Decisions: End-to-end portfolio management powered by analytics is the only way to boost VBHC performance. ⭐ Learn from the Field: Real-world case studies show us exactly what works, what fails, and why, in the transition to value-based contracts. ⭐ Combating FWA: Fraud, Waste, and Abuse are a strategic priority. We must embed advanced analytics into oversight frameworks, learning from patterns in KSA and abroad. Success requires a blend of robust analytics, aligned incentives, and strong policy support. Milliman is proud to work alongside stakeholders across the Kingdom to turn these insights into action. #ValueBasedCare #HealthcareTransformation #HealthcareInnovation #HealthAnalytics #SaudiArabiaHealthcare #Vision2030

Double-digit medical inflation at 12-13% is triple the general inflation rate in the country. How do we measure medical inflation in India? This article “Measuring Medical Inflation in India,” authored by Joanne Buckle FIA FIAI C.Act, Rachin Aggarwal, and Heena Arora, FIA, FIAI, recently published in The Actuary India magazine, outlines practical ways to define and measure medical inflation in India. It demonstrates how data and methodology shape trends used for pricing, reserving, and portfolio monitoring, covering: 1. What “medical inflation” can mean—and how benefit design, case-mix, and utilisation affect measured trends 2. Separating price changes from utilisation in claims analysis 3. Building an index to support pricing, reserving, and monitoring Read the article: https://lnkd.in/gtn8GJuN Posted with permission from The Actuary India. #Milliman #MedicalInflation #HealthInsurance #Actuarial #HealthcareAnalytics

Can you use Python as an actuarial platform? Our Life consulting practice in India has recently responded to, and supported, an increased number of requests for actuarial modelling in Python, covering: Python Model Reviews: Checking client implementation for modelling best practice and accuracy checks using parallel models. Python Model Implementations: Implement high-performance, scalable models from the ground up for various actuarial tasks, including projection models Our colleagues in Europe, wrote this thought-provoking whitepaper, "Using Python as an actuarial modeling platform". We hope it can help explore Python within an actuarial context and whether it is ready to take its place as a primary platform. https://lnkd.in/eq25mtE2 If you are considering a transition to Python, begin a conversation with one of our consultants in India. They will be able to help guide you through the decision-making process and, if necessary, implementation and transition. Our modelling experience and expertise spans across most actuarial platforms and that places us in a unique position to be able to conduct independent technical reviews.