Indian Health Insurance Market set for Tremendous Growth

According to our research report “Booming Health Insurance in India”, Indian health insurance market has emerged as a new and lucrative growth avenue for both existing players as well as new entrants. Though the life insurance continued to dominate the market, some of the non-life insurance segments like health insurance witnessed strong growth during the past couple of years. Moreover, as per our estimations, health insurance gross premium is expected to grow at a CAGR of around 26% during FY 2011 to FY 2014.

Our ongoing analysis found that, the health insurance market in India still remains largely under penetrated and offers huge growth potential. The premium is expected to get more than doubled during the next four years. Therefore, the large foreign as well as domestic conglomerates are eagerly eying Indian health insurance market. However, the market is dominated by public sector insurers, and all the private health insurers collectively account for less than half of the total health insurance premium written in the country.

Besides, we have done extensive research on the industry trends and it was found that, customers are shifting towards health cum life insurance products. Further, the concept of telemedicine is emerging in the country. We have also figured out some critical shortcomings including low awareness, non-coverage of out-patient care & existing diseases, inefficient cost management, product reach in rural areas, and weak retail distribution model.

“Booming Health Insurance in India” provides relevant statistics and in-depth analysis on Indian health insurance market. It highlights all the emerging trends including the key factors driving the market growth and the key challenges confronted by the industry. The report also identifies possible growth areas for expansion and provides a detail overview of the competitive landscape.

Moreover, the report presents industry forecast based on correlation of past drivers, challenges, and opportunities for expansion. In this way, the report provides a comprehensive and coherent analysis of the Indian health insurance market that will certainly prove decisive for clients.

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