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Personal Accident and Health Insurance in India, Key Trends and Opportunities to 2019

  • September 2015
  • -
  • Timetric
  • -
  • 204 pages

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Synopsis
Timetric’s 'Personal Accident and Health Insurance in the India, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Indian personal accident and health insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Indian economy and demographics and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary
Timetric’s 'Personal Accident and Health Insurance in the India, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Indian personal accident and health insurance segment, including:

- The Indian personal accident and health insurance segment’s growth prospects by insurance category

- Key trends, drivers and challenges for the personal accident and health insurance segment

- A comprehensive overview of India's economy and demographics

- The various distribution channels in the Indian personal accident and health insurance segment

- Details of the competitive landscape in the personal accident and health insurance segment in India

- Details of regulatory policy applicable to the Indian insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in India:

- It provides historical values for the Indian personal accident and health insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Indian personal accident and health insurance segment, along with market forecasts until 2019.

- It analyses the various distribution channels for personal accident and health insurance products in India.

- It profiles the top personal accident and health insurance companies in India, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Indian personal accident and health insurance segment and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Indian personal accident and health insurance segment.

- Assess the competitive dynamics in the personal accident and health insurance segment.

- Identify the growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- In terms of gross written premium, the Indian personal accident and health insurance segment recorded the fastest growth in the country’s insurance industry at a review-period (2010–2014) CAGR of 16.3%.

- Health insurance was one of the fastest-growing categories in India, with a review-period CAGR of 16.6%, but a substantial proportion of the population is still unaware of health insurance, especially in rural areas.

- On March 12, 2015, the Indian government passed the Insurance Laws (Amendment) Bill 2015 and increased the FDI limit in the Indian insurance industry from 26% to 49%. This is expected to lead to an increase in investments over the forecast period (2014–2019).

- With India having the world’s second-largest population at 1.27 billion and with low personal accident and health insurance penetration at 0.2%, growth potential in the health insurance category over the forecast period is positive.

- Rapid urbanization and a slow rate of infrastructure development will contribute to the growth of personal accident and health insurance over the forecast period.

- IRDAI has appointed a committee to suggest a pathway for risk-based capital implementation, similar to European Solvency II margins, to bring Indian insurers in line with international operators.

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