Personal Accident and Health Insurance in India, Key Trends and Opportunities to 2018

Date: 2015-09

The Indian personal accident and health insurance segment posted significant growth during the review period. The segmentโ€™s gross written premium increased at a review-period (2009โ€“2013) compound annual growth rate (CAGR) of 21.1%, despite the global financial crisis. The robust growth was driven by increasing healthcare expenditure, favorable government initiatives for large-scale health insurance programs, and the liberalization of industry regulations. Despite the increase, penetration remains low due to a lack of consumer awareness of personal accident and health insurance โ€“ especially in rural areas, a lack of cover for many diseases, and dependence on sales of products with attached tax benefits.

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