Reinsurance Companies Investing in the Indian Health Insurance Industry

 

Contact Information
Author
G-199,, Sector-63
Noida
Uttar Pradesh - 201301
India
+911204224700
press@rncos.com
 
The health insurance industry in the country has evolved significantly in past decade with the digitalization, increasing FDI limits, and trending combination plans. The embracing of technology has brought in revolutionary changes in the industry as industry players are now assigning chat bots to better manage the operations. Health insurance is the fastest growing sector with the CAGR of around 17% during the period 2011-12 to 2015-16 as per RNCOS analysis.

The country is witnessing advent of global reinsurance companies such as SCOR and Axa Re of France that would benefit the primary insurers in terms of reduced volatility of underwriting results, capital relief and flexible financing, access to reinsurer’s expertise and services etc. At present, seven global players — Swiss RE, Munich Re, Hannover Re, Lloyd’s, XL Catlin, RGA and Gen Re have already received approvals from insurance regulator IRDAI, while two prominent global reinsurers, SCOR and Axa Re of France, have initiated the process of setting up operations in the country.

According to our report, “Health Insurance Market - The Changing Dynamics”, the group health insurance schemes have a dominating share of around 48% followed by individual health insurance schemes and government sponsored health insurance scheme. While government sponsored health scheme continued to lose its share, Individual health insurance schemes continued to grow the fastest at a CAGR of 21% during the period of 2011-12 to 2015-16.

The health insurance industry in the country has undergone a transition with digitalisation, emergence of Internet of Things (IoT). The transition offers an opportunity to the industry stakeholders by a large underinsured population to tap the industry that has witnessed low penetration in the past on account of low consumer awareness. However, the health insurance industry is expected to propel in the future on account of the increasing healthcare cost, rising consumer awareness and improved initiatives by the government.

For FREE SAMPLE of this report visit: http://rncos.viewpage.co/Health-Insurance-Market

Check Related REPORTS on: http://www.rncos.com/Banking&Insurance.htm

ABOUT RNCOS

RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
For more information, visit: http://www.rncos.com


Health Insurance Market - The Changing Dynamics, Health Insurance, Healthcare, Health Insurance Sector, Indian Insurance Industry, Life Insurance Industry, Non-Life Insurance Industry, Indian Health Insurance Industry, Public Sector Health Insurance, Priv

 

If you have any questions regarding information in this press release, please contact the person listed in the Contact / Company information box of this page. Please do not attempt to contact Market Press Release. We will be unable to assist you with any information regarding this release. Market Press Release disclaims any content contained in this press release.