Estimates of Indian Health Insurance Market for the year ending March 31, 2013 are now available and according to it this market has touched figure of Rs.15341 Crores.
Corporate portfolio and Group Government portfolio (Schemes like RSBY,) continue to be a loss making portfolio. Retail portfolio continues to be the segment where insurance companies have been successful in reducing the claims figures by following rigid norms. May be the decision of PSU’s to go in for strictness i.e. July 1, 2010 and strengthening of PPN has resulted in good results.
Indications are that State Governments will not increase ( as it was happening 2 years back ) their budget for schemes / subsidy. As on now we are aware of that 4 PSU’s are increasing the premium in Retail segment by 30% (during 2nd half of 2013). Will it result in increase in Revenue or it can result in some of the clients not renewing their policies.
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