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Instant Authorisation for Health Insurance Cashless Claims Now Just a Card Swipe Away!
~ Medicash Card – a Pre-paid Card for Instant Authorisation of Claims & Immediate Payments ~

Mumbai, June 25, 2013: HDFC General Insurance Limited partners with E-Meditek Global to launch an innovative product called MediCash Card to facilitate Instant Cashless Claim Authorization. The interface of the innovative technology has been configured over Visa Prepaid Card under an exclusive alliance between Ratnakar Bank, Visa and E-Meditek Global. Designed to change the course of health insurance approvals with the option of payment to hospitals, MediCash Card will go a long way in ensuring quality healthcare and adding to customer convenience.

Currently it takes over 4 hours’ time for our corporate group health customers on an average, for a customer to receive the Cashless Approval after entering the Hospital. Sometime this delay can lead to unexpected and unpleasant situation especially in case of emergency and critical cases. To overcome this challenge E-Meditek Global has designed a world-class platform, which is integrated with its claim application.

This platform provides instant cashless approval based on the eligibility. The unique technology just requires a swipe of the MediCash Card at the Point of Sale (POS) terminal, followed by filling of requisite information on the POS machine itself; and then a small wait much like your experience at a retail store for credit card payments; and you have your Cashless Authorization Slip containing all the information any standard cashless authorization carries. This is followed by a confirmation call to the customer. At the time of discharge, communication regarding the approved amount is shared through SMS and email, with the customer to enable immediate refund of security deposit by the hospital.

Speaking at the launch, Mr. Joydeep Roy, CEO & Wholetime Director, L&T Insurance, said, “At L&T Insurance, we are committed to a philosophy of making the process of Health Insurance fast and seamless for our customers with innovative use of technology. We were the first insurance company in India to offer the 6-hour service response guarantee for our retail customers and now we are the first insurance company in India to offer an instant cashless approval solution for our group medical insurance customers. The MediCash Card allows instant authorization and on-the-spot payment, making the crucial period of wait almost negligible. So, help and health are only a swipe away.”

Mr. Gopal Verma, Chairman, E-Meditek Global said,At E-Meditek we constantly endeavor to enhance the customer experience through technology and overcoming the gaps in the processes. The “E” in E-Meditek signifies our approach and vision of concentrating on excellence in using technology to the advantage of every stakeholder including the end customer.”

“The card also enables insurers to introduce the Out Patient Insurance Plans rather than just the hospitalization insurance. This will pave the way for launch of genuine OPD or Dental insurance plans in the country”, he further added. 

Mr Vishwavir Ahuja, MD & CEO, Ratnakar Bank, shared “We are pleased to be an integral part of this first of its kind medical prepaid card solution in India. MediCash Card provides the cardholder with an easy-to-use, extremely secure and hassle free product. Our focus and endeavor is to launch innovative products like these which help build efficiency, convenience through electronic payments system.”

Mr. Uttam Nayak, Group Country Manager India and South Asia, Visa, said “At Visa we recognize that many customers are discouraged from buying insurance due to the anticipated complexity involved in settlement of claims. The Medicash Visa Prepaid Card provides tremendous value to insurance companies seeking a more efficient way to collect  and make payments to health care recipients or channelize  direct payments to the hospitals,  in facilitating medical treatment to policy holders.  Visa is proud to partner Ratnakar Bank, L&T General Insurance and E-Meditek Global to bring a very effective and low cost solution to improve healthcare in India.”

About L&T
Larsen & Toubro is a USD 14 billion technology, engineering and construction group, with global operations. It is one of the largest and most respected companies in India’s private sector. A strong, customer – focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.

About L&T Insurance
L&T General Insurance Company Limited (L&T Insurance) is a wholly owned subsidiary of Larsen & Toubro Limited. The Company provides a complete range of Retail and Institutional insurance solutions catering to the needs of Individuals, Small and Medium Enterprises and Corporates across urban and rural India. Visit us at

About E-Meditek Global
E-Meditek Global started operations in 2005. The company was formed with an objective of creating a financial ecosystem in healthcare Industry. E-Meditek Global is a holding company of E-Meditek Group, which includes E-Meditek Technology, E-Meditek Wellness, E-Meditek Assist and E-Meditek TPA. The core focus of E-Meditek Global is to improve the payment mechanism in healthcare financing system ensuring quality healthcare treatment at affordable price by adding to convenience of end users. 
The company has already created an integrated network of more than 2000 medical service providers which include hospitals, physicians, diagnostic centers, dentists and chemists in 12 cities to begin with.

About Ratnakar Bank

Ratnakar Bank is a scheduled commercial bank and was established in 1943. It has its registered office at Kolhapur and has a rich business legacy in the region serving the trading, agriculture  manufacturing sectors through a network of 127 licensed branches spread across Maharashtra, Gujarat, Delhi, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Karnataka, Andhra Pradesh, Tamil Nadu, Goa and the Union Territory of Daman and Diu. It has business volume of around Rs. 15000 crores as of March 31, 2013. The Bank's leadership includes a highly experienced team with strong credentials. For more information, please visit

About Visa Inc.

Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit

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