Commercial health insurance in india at FinGad.com

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Categorie: Emerging Markets
Submitted 8 months ago by

Vipinlara

In my opinion, commercial health insurance in India is still in its infancy, having started in 1986 with Mediclaim, the first hospitalization cover introduced by four public-sector non-life insurance companies. Point to be noted here is that Mediclaim and its private sector look-alikes make up whopping 95 per cent of the total policies sold at this moment of time. In terms of statistic, total health premiums rise 44 per cent to Rs 3,198.83 crore in 2006-7 from Rs 2,222.09 crore in 2005-06. According to sources, the growth has accelerated last year to more than 50 per cent. Most of the experts that I have chatted with are of the opinion that health insurance along with motor insurance is one of the two fastest growing businesses. This is mainly because of the booming retail market for individual policies. At present, insurance contributes only about 2 per cent of India’s health expenditure. According to recent study, less than 15 per cent of Indians enjoy some form of ‘third-party payment system’ for their health spends. In ... More...

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