DUBLIN--(BUSINESS WIRE)--The "Health Insurance Market in India 2022" report has been added to ResearchAndMarkets.com's offering.

Market insights

Nearly 950 million individuals (or 215 million families) are eligible for health insurance. However, the actual coverage is low since not all households eligible for government-subsidized insurance are covered at present. Also, there are overlaps between different health insurance schemes.

The health insurance market was valued at INR 1,886.25 Bn in FY 2021. It is expected to reach INR 2,517.90 Bn by FY 2027, expanding at a CAGR of ~5.12% during the FY 2021 - FY 2027e period. Since government-subsidized schemes are expected to cover the eligible population, the potential health insurance coverage is of 70% (based on the existing landscape).

Technology insights:

Technology can help in optimizing processes, reducing costs, and expanding the customer base of market players. Health insurance firms have invested in innovative technologies such as automation, AI, and big data. Internet of Things (IoT) helps in deriving extensive data and insights to curate risk management tools and systems. Furthermore, it helps in strengthening customer information repository, enabling firms to offer timely and pertinent coverage based on individual needs. As IoT can generate large volumes of client data, brokers also offer additional value-added services through data analysis and management.

Competitive insights:

Emerging health insurance companies occupy the highly competitive health insurance space. With high demand, at present public and private players are aiming at increasing their offers and improve the quality of service, to dominate the market. The players are focusing on scaling up their businesses and portfolios to address the high potential of the market.

Key Topics Covered:

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure

Chapter 4: Health Insurance in India- Industry Analysis

4.1. Health insurance in India- Industry analysis

4.2. Non-life insurance penetration and density in India

4.3. Regulatory body for the insurance sector

Chapter 5: Health Insurance Market in India- An Overview

5.1. Market size and growth forecast- Based on gross direct premium income (FY 2019 - FY 2027e)

5.2. Operating Model

5.3. Major services provided by brokers in India

5.4. Future growth prospects

5.5 Operating model of insurance brokers in India

Chapter 6: Impact of COVID-19

6.1. Impact on the health insurance industry

6.2. Post-pandemic scenario of the industry

Chapter 7: Market trends

7.1. Market trends

Chapter 8: Market influencers

8.1. Market drivers

8.2. Market challengers

Chapter 9: Competitive landscape

Chapter 10: Recent developments

10.1. Recent developments

Chapter 11: Appendix

Companies Mentioned

• Aditya Birla Health Insurance Limited
• Bajaj Alliance General Insurance Limited
• Care Health Insurance
• Edelweiss General Insurance Limited
• IFFCO Tokio General Insurance Company Limited
• ICICI Lombard General Insurance Company Limited
• Magma HDI General Insurance Co Ltd.
• Niva Bupa Health Insurance Company Limited
• Reliance General Insurance Company Limited
• Tata AIG General Insurance Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/3t2yy1

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