In the heart of India, where vibrant cultures and bustling cities paint a picture of progress, a large number of families still grapple with the stark realities of healthcare access. For many, a single medical emergency can spell financial disaster, pushing them into the depths of poverty.
Amidst these challenges, health insurance stands out as a crucial lifeline, offering a safety net that promises not just financial security but also the hope of a healthier future. India, along with being the fastest-growing economy, is also one of the fastest-growing insurance markets in the world.
In the last financial year, the general insurance industry saw its total gross direct premium at Rs 2.89 lakh crore compared to Rs 2.56 lakh crore in the previous financial year-a growth of 13 percent. With a market share of 38 percent, health insurance continues to be the largest segment in non-life insurance. The premiums for health insurance stood at Rs 1.09 lakh crore in FY 2024 as against Rs 90,651 crore in FY 2023, witnessing a growth of 20.25 percent.
