Pvt Health Insurers are Gaining by Covering More People, but are Losing Out on Premium

65% per cent of population is covered by private players but state owned firms score over them by collecting 61% as premium. Close to 65 per cent of the population has health insurance and is covered by private players but even then they are losing out to state-owned firms as the latter account for over 61 per cent of the premium collections. Private health insurers have outperformed the public insurance companies by covering 65% of the population.

Read More

Get ₹5 Lac Health Insurance starts @ ₹200/month*
Tax Benefitup to Rs.75,000
Save up to 12.5%* on 2 Year Payment Plans
7 Lakh+ Happy Customers

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Get insured from the comfort of your home No medicals required
I am a

My name is

My number is

By clicking on ‘View Plans’ you, agreed to our Privacy Policy and Terms of use
I am a

My name is

My number is

Select Age

City Living in

    Popular Cities

    Do you have an existing illness or medical history?

    This helps us find plans that cover your condition and avoid claim rejection

    Get updates on WhatsApp

    What is your existing illness?

    Select all that apply

    When did you recover from Covid-19?

    Some plans are available only after a certain time

    However, in terms of premium it is the public insurance companies that are leading as they account for maximum share of over 61 per cent in premium arising out of health insurance.

    Private health insurance will continue to lead in terms of covering the non-vulnerable, the middle class and higher income segments of the population as they can afford to buy it.

    In case of channel-wise distribution of medical insurance, individual agents contribute majorly by providing business with 72.9 per cent share.

    However, direct business is the sole contributor in terms of premium collection with around 37 per cent share, followed by individual agents (31.6 per cent) and brokers (21.4 per cent).

    Referrals contribute a negligible 0.1 per cent in terms of both the numbers of policies sold as well as the medical insurance premiums collected.

    The population residing outside the metros and Tier-I is a bigger challenge for the industry as it results in huge cost of customer acquisition and operations.

    It added that reducing the coverage gap is a major challenge for the insurance industry as the public spending on health is quite less and also high levels of informal or unorganized labor, a greater dispersed rural population, high levels of poverty and fewer providers serving the poor make the problem more severe.

    It has been found through a study that government priorities for healthcare financing are such that they cover the basic goals of affordability, reach and quality of services.

    Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

    Health insurance articles

    Recent Articles
    Popular Articles
    List of Diseases Covered by Bharti AXA Health Insurance Plans

    27 May 2022

    The COVID-19 pandemic gave everyone a first-hand experience of the...
    Read more
    List of Diseases Covered by Oriental Health Insurance Plans

    26 May 2022

    Health is the biggest wealth that you can earn. With so many new...
    Read more
    What is Recharge Benefit Under Star Health Insurance Plans?

    26 May 2022

    Star Health Insurance plans cover the insured against a range of...
    Read more
    List of Diseases Covered by Digit Health Insurance Plans

    26 May 2022

    The COVID-19 pandemic has reminded everybody why taking care of...
    Read more
    List of Diseases Covered by Tata AIG Health Insurance Plans

    24 May 2022

    Anyone can get ill anytime. If you are diagnosed with a disease...
    Read more
    PMJAY Scheme: Ayushman Bharat Yojana Eligibility & Registration Online
    Prime Minister Shri Narendra Modi announced the launch of (PMJAY) Ayushman Bharat Yojana in his Independence...
    Read more
    Best Health Insurance Plans in India 2022
    Finding the best health insurance plan from so many different health insurance companies can get confusing for many...
    Read more
    Best Maternity Insurance Plans
    Maternity insurance offers comprehensive coverage for medical expenses incurred during pregnancy, including the cost...
    Read more
    10 Major Benefits of Ayushman Bharat Yojana
    Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the second component under Ayushman Bharat Scheme. PM Narendra Modi...
    Read more
    Best Health Insurance Plans for Senior Citizens in 2022
    Considering the increase in medical inflation in India, buying adequate health insurance for your loved ones has...
    Read more
    Download the Policybazaar app
    to manage all your insurance needs.