Health insurance segment accounted for 24% of non-life insurance business during the first quarter of FY 2013-14, shows the latest IRDA data. The health segment has collected Rs 4588 crore in April-June 2013 against Rs 3855 crore in the corresponding period last year. Experts attribute this to increasing insurance penetration and rising cost of health insurance.
R
Chandrasekaran, Secretary General, General Insurance Council believes that
rising cost of medical treatment has catalysed the need of health insurance
among people. He points out that the government
sponsored health insurance policies like Rajiv Gandhi Health Insurance Scheme,
Jeevandayee Arogya Yojana and other such schemes have improved the penetration
of health insurance in small cities and rural areas.