The Insurtech company EGI has announced the launch of “Out-of-Network Cash Advance” facility to help customers with monetary support at any hospital which is not part of EGI’s network. Usually, one would need to pay out of their own pocket to avail treatment at non-network hospitals. However, under the new "Cash Advance" facility, customers will receive money up to Rs. 10000 to take care of admission charges or other expenses during the hospitalization. The advance is then adjusted at the time of claim. 

The launch of this service has been based on the insights gained from qualitative research conducted by EGI across 4 cities of Mumbai, Delhi, Bengaluru & Kolkata. The research was undertaken for a deeper understanding of pain points of customers during medical emergencies. The findings revealed that customers are demanding real cashless benefits, not just reimbursements.  

Speaking on the development, Shanai Ghosh, Executive Director & CEO, Edelweiss General Insurance, said, “Based on our in-depth research, we observed that in an emergency, customers are expecting their insurance provider to support them when and where they need it. With an endeavour to provide innovative solutions to our customers, we launched our instant cashless facility in March 2022. Aligning with our vision to make insurance easy, friendly, and transparent, we are attempting to take this one step ahead through our Out-of-Network Cash Advance.”