Third Party Administrator (TPA)

An organisation that processes insurance claims of the insurer on behalf of insurance company. It scrutinises the expenses incurred vis-à-vis coverage under the policy and ensures compliance of the policy terms and conditions and warranties and subject to the limit of sum insured. The insured needs to interact with the TPA for settlement of claims. The TPA also empanels hospitals to be part of the network to facilitate cashless settlement of claims.