The Private Health Insurance Market in India10 Jun 2011 • by Natalie Aster
“A severe lack of data on consumers and disease patterns has prevented insurers from offering the same type of innovative policies that are available in developed markets. A high claims ratio, combined with problems in the supply chain, has made it difficult for health insurers to make a profit in the short term.”
The report “The Private Health Insurance Market in India” by Business Insights presents a detailed examination of India’s nascent private health insurance sector, exploring the market structure, the key trends and the main opportunities. In doing so, it sets the private health insurance sector in the context of the wider health insurance market, which is relevant because privately-owned insurance companies often participate in both the private and social sectors.
USE THE REPORT TO:
- Gain an insight into how India's private health insurance sector relates to the wider social insurance sector;
- Understand the mechanics of the healthcare delivery chain, from insurers to third party administrators (TPAs) to healthcare provider networks;
- Identify key health insurance competitors (which include both private and state-owned companies);
- Understand the latest trends in terms of pricing and procurement, and thereby avoid the pitfalls that have befallen a number of insurers;
- Gain an awareness of the main challenges that must be overcome in order for private insurance companies to achieve their full potential.
ANSWER QUESTIONS LIKE:
- What percentage of the population is covered by the various health insurance schemes (both private and social) that operate in India?
- What are the prospects for future growth in India's private health insurance market?
- Who are the main players in India's private health insurance market?
- What are the main pitfalls for companies operating in India's private health insurance market?
- How do the mechanics of the market work?
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Published: May 2011
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Despite the rapid expansion of the private health insurance market in recent years, it covers less than 3% of the population, and many consumers remain unaware of the benefits of private health insurance. India's private health insurance market is poised to grow at a CAGR of 25-30% over the next five years.
The market is likely to become much more competitive in future, with a growing number of foreign insurance companies likely to form joint-ventures with Indian partners.
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