NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/12/28 - Health insurance premium in India is projected to grow at a CAGR of 28% during 2011-12 to 2013-14, says RNCOS in its latest research report.
According to our latest report,“Booming Health Insurance in India”, Indian health insurance market represents one of the fastest growing and second largest non-life insurance segments in the country. The market owes its stupendous growth rate to the rising health consciousness and concerns over scaling healthcare costs, among both the urbanities and ruralites. Thus, the segment overcame the unfavorable economic environment to sustain its double-digit growth rate during 2010-11. Moreover, with the government playing a significant role in promoting the health insurance penetration in India, the health insurance premium is expected to grow at a CAGR of 28% during the forecast period 2011-12 to 2013-14.
As per our findings, the Third Party Administrator (TPA) industry has witnessed healthy growth due to rising penetration of health insurance in the country. TPAs received due recognition as valuable service providers in the health insurance services delivery chain. During the last few years, a large number of hospitals and nursing homes have been added to the network of providers by the TPAs. As a result, it is anticipated that TPAs, as intermediaries, will continue to play a crucial role in the processing of health claims along with other associated activities on insurers’ behalf, as the sector is witnessing growth.
Our report covers an extensive research and prudent analysis on the Indian health insurance market that will help to understand the factors that will continue to serve as the drivers for the industry in the coming years. We have identified various factors that have been propelling growth in the market over the past few years.
Our report,“Booming Health Insurance in India”, provides a deep insight into the Indian health insurance and evaluates its past, present, and future scenario. It discusses the key factors, which are driving the health insurance sector in the domestic market. It presents comprehensive information of each industry parameters like, key market trends, emerging sectors, and regulatory framework. Most importantly, the report presents future outlook for all the important aspects of the industry considering the effects of global economic crisis on base drivers, opportunities, and challenges faced by the health insurance industry. Due consideration has also been given to the competitive landscape to enable clients understand the market structure and future growth prospects.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.