The Health & Personal Accident Insurance segment has grown at a CAGR of 18.64% over the period 2012-13 to 2021-22.
Health Insurance comprises of around 91% of the segment. Health & Personal Accident has crossed the 80,000 Cr mark for the first time after crossing 60,000 Cr mark in 2020-21.
Chart 4.5.1GDPI - Health & Accident
Table 4.5.1Health & Accident
2021-22 | Value |
No. Of Policies | 41,869,016 |
Premium (in Cr) | 80,501 |
No. Of Claims Reported | 24,740,119 |
No. Of Paid Claims | 22,670,527 |
Amt of Paid Claims (in Cr) | 72,658 |
Source: Council Compilation as per source
data submitted by companies
The Net Incurred Claims ratio has increased significantly to 105.3% in 2021-22 from 90.2% in the previous year. Similarly, the Gross Incurred claims ratio has increased to 94.5% in 2021-22 as compared to 78.5% in the previous year.
A possible explanation could be the settlement of covid claims in the current year.
Chart 4.5.2Gross & Net Incurred Claims Ratio - Health, Personal Accident & Travel
Source: Council Compilation as per source
data submitted by companies
Chart 4.5.3Rural vs Urban Premium - Health & Accident
Source: Council Compilation as per source
data submitted by companies
Chart 4.5.4GDPI Breakup on Categories - Health & Accident
Chart 4.5.5Policies Breakup on Categories - Health & Accident
Source: Council Compilation as per source
data submitted by companies
*Number of policies indicated under Health – Government Schemes are the
number of Master Policies issued and do not represent the number of lives covered