Indian Personal Accident and Health Insurance

The Indian personal accident and health insurance segment posted significant growth. This growth was achieved despite the global financial crisis and was driven by increasing healthcare expenditure, more road traffic accidents, favorable government initiatives on large-scale health insurance programs and the liberalization of industry regulations. Despite the increase, the market remains largely under-penetrated due to limitations such as a limited awareness of personal accident and health insurance products among consumers, low penetration rates in rural areas, a lack of coverage for many existing diseases and a poor distribution network. 

Key highlights 

The Indian personal accident and health insurance segment posted significant growth during the review period.
The health insurance category is expected to increase its share of the overall Indian personal accident and health insurance segment.
The Insurance Development and Regulatory Authority (IRDA) has proposed a decrease in the capital requirements for standalone health insurance companies from INR1 billion to INR500 million.

The increasing number of outbound tourists was responsible for driving the growth of the travel insurance segment in India during the review period.

Greater awareness of the benefits of insurance coverage among the working population has resulted in a growth in the sales of personal accident and health insurance policies. 

Reasons to buy Make strategic business decisions using historic and forecast market data related to the Indian personal accident and health insurance market and each sector within it Understand the demand-side dynamics, key market trends and growth opportunities within the Indian personal accident and health insurance market Assess the competitive dynamics in the personal accident and health insurance market, along with the reinsurance segment Identify the growth opportunities and market dynamics within key product categories Gain insights into key regulations governing the Indian insurance market and its impact on companies and the market's future