Friday, January 19, 2018

India’s health segment to grow faster than motor

India’s motor insurance segment will be outstripped by the health segment, according to G Srinivasan, chairman and managing director of New India Assurance (NIA).

Srinivasan, who was interviewed after NIA’s recent IPO, said that health is set to outpace motor insurance due to the price correction that has been taking place.

He explained that because health insurance policies are voluntary in nature, the sector has the potential to grow much faster. At present, the two segments are enjoying 20% growth.

According to Srinivasan, a mere 10% of people are taking up commercial health insurance policies, so there needs to be innovation in the sector.

For example, insurers should offer more products and better partnerships with hospitals, while improving ways to reach out to clients.

Share

Related Articles

Partner Content

White Papers

Follow InsuranceAsia News

Print Edition

WINTER 2017

Defending Asia's evolving risks