Park Mediclaim Insurance TPA Pvt. Ltd. is a company incorporated in 2001 under the Company’s act 1956 with main objective to act as Third party Administrator - Health Services. The Company is a licensed TPA vide License No.- 025 granted by IRDA on 28.9.2004 under Insurance Regulatory and Development Authority act, 1999 and Insurance Regulatory and Development Authority (Third Party Administrator) regulation 2001.
The advent of multi specialty Hospitals equipped with latest technology and facilities lead to inflation of cost of treatment and persistent demand by the Policy Holders for quick, hassle free and prompt settlement of Claims with initiation of direct payment to hospitals (Cashless Treatment) in an organized manner. Considering the need of the hour, the promoters, who were working for the PSU Insurance Companies for assessment and verification of claims and have so far dealt with more than two lacs medical claims since the inception of Mediclaim policy in the year 1986, incorporated “Park Mediclaim Insurance TPA Pvt. Ltd.” in 2001 with main objective to act as service provider to the Insurance Companies. The Company achieved its objective successfully by dedicated efforts. The services of the company were widely accepted, acclaimed and appreciated by the PSU Insurance Companies. In addition the company was engaged by the insurers to manage claims of no. of Corporate / Groups. Simultaneously, the Promoters of the company developed an innovative, state of art Software in conjunction with an IT Expert based on their vast professional experience and expectations of the Insurers regarding the functional procedures involved in servicing the Mediclaim and other Health Insurance Policyholders. The Software has since been demonstrated successfully before the Insurance Companies, Corporate / Groups and the IRDA.