News From Press Medical inflation driving up ticket sizes for retail health insurers

Medical inflation driving up ticket sizes for retail health insurers

Source: BS Mar 13, 2024

The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders.

According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19. This increase is attributed to a rise in medical inflation and increased awareness about health insurance among the public post the Covid-19 pandemic.

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