Cookies on the Economic Times website

Economic Times has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings,we'll assume that you are happy to receive all cookies on the Economic Times website. However, you can change your cookie setting at any time by clicking on our Cookie Settings at any time.You can also see our Privacy Policy

Demand rises for adding home care, outpatient costs in health insurance

BCCL

Irdai data shows that health insurance has grown by 16% for the industry in FY21 till October even as most other segments such as motor and liabilities have contracted.

Synopsis

Experts say the industry is moving towards its next leg of growth, where traditional ‘all illness’ medical covers would soon be replaced with customisable products that cover all aspects of the treatment and not just the costs specified by the hospitals.

Mumbai: The pandemic could mark a significant shift in how health insurance products in India are designed by insurers and purchased by consumers.Experts say the industry is moving towards its next leg of growth, where traditional ‘all illness’ medical covers would soon be replaced with customisable products that cover all aspects of the treatment and not just the costs specified by the hospitals.According to Sanjay Datta, chief underwriting at

To Read the Full Story, Become an ET Prime Member

Access the exclusive Economic Times stories, Editorial and Expert opinion

Why

  • Sharp Insight-rich, Indepth stories across 20+ sectors

  • Access the exclusive Economic Times stories, Editorial and Expert opinion

  • Clean experience with
    Minimal Ads
  • Comment & Engage with ET Prime community
  • Exclusive invites to Virtual Events with Industry Leaders
  • A trusted team of Journalists & Analysts who can best filter signal from noise