What is health insurance policy advisory in India?

A service helping policyholders understand coverage gaps, exclusions, and claims processes before undergoing elective procedures like LASIK. Advisors audit policies against actual treatment costs and help customers negotiate claims or appeal denials. Growing demand driven by IRDA's 2025 transparency directive requiring clearer policy disclosures.

How much does it cost to start this business in India?

₹15–25 lakh for MVP: Insurance advisory team (₹6 lakh), policy database build (₹5 lakh), IRDAI compliance and legal (₹2 lakh), marketing (₹3–4 lakh). Scale-up to licensed broker (₹25–50 lakh additional) after 6–12 months of proof of concept.

Is this business profitable in India?

Yes. Subscription-based model scales to ₹150–500 crore with 500K users at ₹299–999/year. Insurance referral commissions (2–4% per policy) can generate ₹50–200 crore with 10K+ policy sales annually. B2B corporate licensing adds ₹20–50 crore. Unit economics: CAC ₹150–300, LTV ₹1,500–3,000 (strong 5:1 ratio).

What regulations apply to this business in India?

Insurance Regulatory and Development Authority (IRDA) Act 1999 governs intermediaries; register as agent (₹10–15K fee) or broker (₹25 lakh + net worth ₹2 crore). Comply with Protection of Policyholders' Interests Regulations 2017 on disclosure and fair dealing. GST 18% applies. Consumer Protection Act 2019 Section 4 enforces liability for advisory accuracy.

Health Insurance Policy Advisory India 2026 — LASIK & Elective Procedures

AI SummaryHealth insurance policy advisory is a ₹8,000–12,000 crore untapped opportunity in India targeting 450+ million insured customers confused by elective procedure exclusions like LASIK. The 2026 timing is critical: IRDA's recent transparency mandates and new labour/tax rule changes (April 2026) are forcing corporates to audit employee health benefits, creating demand for third-party clarity. CAs, insurance brokers, health entrepreneurs, and wellness consultants should pursue this as a high-margin, scalable service business.