Tpa Infrastructure To Boost Indian Health Insurance Market
With rising penetration of health insurance in the country, the TPA industry has witnessed a healthy growth. TPAs received due recognition as valuable service providers in the health insurance services delivery chain. As the sector is witnessing a robust growth, the TPAs, as intermediaries, will continue to play a crucial role in the processing of health claims and other associated activities on behalf of insurers. During the last few years, a large number of hospitals and nursing homes were added to the network of providers by the TPAs who further expanded the network of hospitals eligible for treatment by policyholders.
According to our latest report, Booming Health Insurance in India, Indian health insurance market represents one of the fastest growing and second largest non-life insurance segments in the country. The market owes its stupendous growth rate to the rising health consciousness and concerns over scaling healthcare costs, among both the urbanities and ruralites. Thus, the segment overcame the unfavorable economic environment to sustain its double-digit growth rate during 2010-11. Moreover, with the government playing a significant role in promoting the health insurance penetration in India, the health insurance premium is expected to grow at a CAGR of 28% during (2011-12) to (2013-14).
As per our findings, public sector non-life insurers dominate the health insurance market, and less than half of the market (by premiums written) is made up by private firms. However, with the entry of new private players in the Indian health insurance market, the dominance of public non-life insurers will definitely dilute.
Our report, Booming Health Insurance in India, provides a deep insight into the Indian health insurance and evaluates its past, present, and future scenario. It discusses the key factors, which are driving the health insurance sector in the domestic market. It presents comprehensive information of each industry parameters like the key market trends, emerging sectors, and regulatory framework. Most importantly, it presents future outlook for all the important aspects of the industry considering the effects of global economic crisis on base drivers, opportunities, and challenges faced by the health insurance industry. Due consideration has been also given to the competitive landscape to enable clients with a proper understanding of the market structure and future growth prospects.
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by: Shushmul Maheshwari