There will be a direct proportionality of this increase to healthcare spending parity. There is a clear indication that seekers ( annual income between INR 2,00,000 and 04,99,999) and strivers ( annual income between INR 5,00,000 and 10,00,000) population is significantly increasing in the next future. The average annual household consumption in healthcare (discretionary spending ) is expected to double between 20. The prospering middle class in India supports this spending environment.
UNITED INDIA INSURANCE RESULT 2015 DRIVERS
Market Drivers (Cont…) The spending on Healthcare is increasing YOY from 2005 to 2025. trend of upward revision in respect of Group Health policies) In order to encourage foreign health insurers to enter the Indian market the government has recently proposed to raise the foreign direct investment (FDI) limit in insurance from 26% to 49%, Government initiatives are always supportive to Healthcare Insurance Environment. Market Drivers Current Impact (2008-2011) Future Impact (2011-2014) 0 5 10 0 5 10 Increasing awareness of Health Insurance Rising healthcare costs have increased need for health insurance Supporting Demographic Profiles (Prospering Middle Class, increasing disease state, population) Detariffing of the general insurance industry (which has increased emphasis and efforts by insurance companies towards health insurance and other personal lines of business) Rationalization of premium rates (e.g. According to World Bank Report, 99% of Indians will face financial crunch in case of any critical illness. The main factors of growth are increased awareness. The market penetration is will be 3 folds higher in 2015. Market Size & Forecasts Total Revenue Forecast for Indian Healthcare Insurance Market - 2008-2015 The Indian healthcare insurance industry is worth INR 60,497 crores with a compounded annual growth rate of approximately 42.3 percent between 20. The Health Insurance Industry is one of the fastest growing segments among other non-life insurance segments. The market penetration is only around 2 percent of the total population in India. Market Size & Forecasts India Health Insurance Market (2002-2008) Source:IRDA The Indian healthcare insurance industry was worth INR 5,125crores with a compounded annual growth rate of approximately 37 percent between 20. The Topics covered in this study are Market size – future forecast (reasons for the fc) Key drivers/resistors of the market Split between public and private healthcare insurance markets in India Competitive landscape – w.r.t private players How does public healthcare insurance work in India How does public healthcare insurance affect the healthcare scenario in India The healthcare insurance value chain – private compared with public Impact of healthcare insurance sector’s growth on the pharmaceutical market in India Strategic recommendations The study covers all the fundamental aspects of the healthcare insurance market in India. Introduction Healthcare Insurance Market in India in unique and has a strong growth potential than the other insurance markets.
UNITED INDIA INSURANCE RESULT 2015 FREE
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