India Market Health Insurance Update - December 2011

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A quarterly publication that provides updates on developments in the health insurance industry in India.

December 2011 Issue

We are pleased to circulate our quarterly newsletter on the health insurance industry in India, covering developments in the period September to November 2011.

The health insurance sector continues to grow at a healthy pace. As per statistics released by the Insurance Regulatory and Development Authority (IRDA), the industry recorded 21.3 per cent growth in gross premium written in the first half of FY2011-12, as compared to the same period in the previous financial year.

The health insurance portability facility, which was earlier scheduled to become operational from July 2011, was finally implemented starting October. Portability will allow health insurance policyholders to switch companies while retaining their no-claims benefit. It is likely that consumers can now expect a slew of innovative health insurance plans as insurers compete to attract and retain customers. Insurers, however, say that the cost of health insurance is unlikely to come down.

The central and the state governments are taking a number of initiatives to revamp and expand the network of existing government health schemes. The central government plans to introduce a universal health insurance scheme with premiums linked to income levels. The Planning Commission has suggested a government funded health insurance plan, covering all the citizens of India, by 2017.

We hope you continue to find the newsletter interesting and informative, and welcome your comments and feedback.

Towers Watson Risk Consulting, India

• Cover page
• Industry Statistics
• Market Update
• Products
• Regulatory Update
• Other updates