High healthcare inflation and out-of-pocket expense ratio drive health insurance market growth
Updated - November 20, 2024 at 12:02 PM.
India is an underpenetrated market when it comes to health insurance and lags behind the global average. The health insurance market, which constitutes 35-37 per cent of the non-life insurance market, is anticipated to exhibit strong growth until FY29. India’s high healthcare inflation and out-of-pocket expenses (OOPE) as a percentage of current health expenditure (CHE) are structural drivers for this growth. CHE is the sum of public and private health expenditure, excluding capital investment in healthcare infrastructure
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