The report provides detailed market analysis, information and insights into the Indian health insurance industry, including:
- The Indian health insurance industrys growth prospects with focus on key trends, drivers and challenges faced by the industry
- The future outlook of various distribution channels in the Indian health insurance industry
- The current competitive landscape in the Indian health insurance industry and the future outlook
- The customer targeting strategies and the product innovation strategies followed in the industry
- The profiles of the major companies in the industry
Since the liberalization in 2000, the insurance industry in India has been growing considerably driven by multiple favorable economic and demographic factors. The Indian health insurance market grew at a CAGR of 34.00% during the review period and is expected to grow at a CAGR of 23.51% over the forecast period to register the fastest growth among all the insurance sectors. Factors such as robust economic growth, changing demographic patterns such as the rise in double-income no kids families, increased FDI limits and the expansion of distribution channels are expected to contribute to the market growth in the forecast period.
Of the overall healthcare expenditure in India, only 26% comes from the local, state and central government authorities, while nearly 71% is paid by the patients family. Insurance accounts for just 3% of overall healthcare expenditure in India, indicating a substantial opportunity for the health insurance sector. The health insurance market is dominated by public-sector companies, while the private sector has made gradual progress in the sector.
This report provides a comprehensive analysis of the health insurance market in India:
- It provides historical values for Indias health insurance industry for the reports 20072011 review period and forecast figures for the 20122016 forecast period
- It offers a detailed analysis of the key sub-segments in Indias health insurance industry, along with market forecasts until 2016
- It covers an exhaustive list of parameters, including premium per capita, incurred loss, loss ratio and paid claims
- It details the competitive landscape in the Indian health insurance industry along with the product innovation and customer targeting strategies followed
- It analyses the various distribution channels for health insurance products in India
- It profiles the top health insurance companies in India along with snapshots of their major products and services
Reasons To Buy
- Assess the overall healthcare sector in India with focus on key trends such as medical tourism and telemedicine
- Make strategic business decisions using top-level historic and forecast market data related to the Indian health insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Indian health insurance industry
- Assess the competitive dynamics in the health insurance industry and the future outlook
- Gain insights into the key regulations governing the Indian insurance industry
- Understand the product innovation strategies and the customer targeting strategies followed in the industry
- The Indian health insurance market accounted for only 3.2% of the overall insurance industry in 2011. The driving factors for the health insurance sector are rising healthcare expenditure, increasing disposable income and the rise in the number of people with affluent lifestyles.
- During the review period, the penetration of Indian health insurance products increased from 0.07% in 2007 to 0.19% in 2011, as many new policies were sold in rural India.
- Although the health insurance market is currently dominated by public-sector companies, the top six private health insurance companies increased their cumulative market share from 17.2% to 29.1% during the review period
- One of the key challenges for the health insurance market is the low coverage of plans in terms of both the diseases and the hospitals covered