Origin, Growth Pattern And Trends: A Study Of Indian Health Insurance Sector

Abstract

This paper reviews performance and progress of health insurance business that has evolved over the past 25 years in India. The objectives of the study are to find origin of health insurance in India and abroad and to examine the growth pattern and trends of public and private health insurers in post liberalization period. The data used to achieve the objectives were secondary in nature and covers a period from 2002-03 to 2011-12. The tabular analysis technique was used to present the findings. The study analyses the performance of health insurance sector on the basis of contribution to GDP, health insurance portfolio share percentage in total non life insurance business, sector and company wise analysis of public and private health insurers. The study found that the market trend and penetration level of health insurance business are changing over a period of time. The premium level and index of aware about the benefits of health insurance has been steadily increasing. The growth rate and market share of private health insurance has been increasing and public health insurers has been decreasing, due to number of increasing private health insurers , competition compulsions and coverage of rural areas with new and innovative products.