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Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020

Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Indian life insurance segment, and a comparison of the Indian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Indian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Indian personal accident and health insurance segment, including:

  • An overview of the Indian personal accident and health insurance segment
  • The Indian personal accident and health insurance segment’s growth prospects by category
  • A comprehensive overview of the Indian economy and demographics
  • A comparison of the Indian personal accident and health insurance segment with its regional counterparts
  • The various distribution channels in the Indian personal accident and health insurance segment
  • Details of the competitive landscape in the personal accident and health insurance segment in India
  • Details of regulatory policy applicable to the Indian insurance industry
Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in India:
  • It provides historical values for the Indian personal accident and health insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Indian personal accident and health insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Indian personal accident and health insurance segment with its regional counterparts
  • It provides an overview of the various distribution channels for personal accident and health insurance products in India.
  • It profiles the top personal accident and health insurance companies in India, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Indian personal accident and health insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Indian personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Indian personal accident and health segment recorded the insurance industry’s fastest growth, in terms of gross written premium, at a review-period CAGR of 15.4%.
  • The public system dominates Indian healthcare, and there are various national and state-level health insurance schemes offered to lower- and middle-income families.
  • The personal accident and health insurance combined ratio gradually increased during the review period.
  • In March 2015, the foreign direct investment (FDI) limit in the Indian insurance industry was increased from 26% to 49%.
  • In May 2015, the Prime Minister of India launched Pradhan Mantri Suraksha Bima Yojana (PMSBY) – an accident insurance scheme which provides cover for accidental death and disability.


  • Key Facts and Highlights
    • Table Indian Personal Accident and Health Insurance - Key Facts, 2015
    • Table Indian Personal Accident and Health Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table BRICS Region - Real GDP (US$ Billion), 2015
    • Table Indian Government Credit Ratings
  • Segment Outlook
    • Table Indian Travel Insurance - Number of Railway Accidental Deaths by Type, 2010-2014
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Indian Personal Accident and Health Insurance - Gross Written Premium (INR Billion and US$ Billion), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Penetration (%), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Gross Written Premium (INR Billion and US$ Billion), 2015-2020
        • Table Indian Personal Accident and Health Insurance - Penetration (%), 2015-2020
        • Table Indian Personal Accident and Health Insurance - Premium per Capita (INR and US$), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Premium per Capita (INR and US$), 2015-2020
      • Policies sold
        • Table Indian Personal Accident and Health Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Indian Personal Accident and Health Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Indian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Indian Personal Accident and Health Insurance - Total Assets (INR Billion and US$ Billion), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Total Assets (INR Billion and US$ Billion), 2015-2020
        • Table Indian Personal Accident and Health Insurance - Total Investment Income (INR Billion and US$ Billion), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Total Investment Income (INR Billion and US$ Billion), 2015-2020
        • Table Indian Personal Accident and Health Insurance - Investment Portfolio (INR Billion), 2011-2015
        • Table Indian Personal Accident and Health Insurance - Investment Portfolio (INR Billion), 2015-2020
  • Outlook by Category
    • Table Indian Personal Accident and Health Insurance - Direct Written Premium by Category (INR Billion), 2011-2015
    • Table Indian Personal Accident and Health Insurance - Direct Written Premium by Category (INR Billion), 2015-2020
    • Personal Accident Insurance
      • Premium
        • Table Indian Personal Accident Insurance - Direct Written Premium (INR Billion and US$ Billion), 2011-2015
        • Table Indian Personal Accident Insurance - Direct Written Premium (INR Billion and US$ Billion), 2015-2020
      • Policies
        • Table Indian Personal Accident Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Indian Personal Accident Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Indian Personal Accident Insurance - Paid Claims (INR Million and US$ Million), 2011-2015
        • Table Indian Personal Accident Insurance - Paid Claims (INR Million and US$ Million), 2015-2020
      • Profitability
        • Table Indian Personal Accident Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Personal Accident Insurance - Loss Ratio (%), 2015-2020
    • Health Insurance
      • Premium
        • Table Indian Health Insurance - Direct Written Premium (INR Billion), 2011-2015
        • Table Indian Health Insurance - Direct Written Premium (INR Billion), 2015-2020
      • Policies
        • Table Indian Health Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
        • Table Indian Health Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
      • Claims
        • Table Indian Health Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
        • Table Indian Health Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Indian Health Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Health Insurance - Loss Ratio (%), 2015-2020
    • Travel Insurance
      • Premium
        • Table Indian Travel Insurance - Direct Written Premium (INR Million), 2011-2015
        • Table Indian Travel Insurance - Direct Written Premium (INR Million), 2015-2020
      • Policies
        • Table Indian Travel Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Indian Travel Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Indian Travel Insurance - Paid Claims (INR Million and US$ Million), 2011-2015
        • Table Indian Travel Insurance - Paid Claims (INR Million and US$ Million), 2015-2020
      • Profitability
        • Table Indian Travel Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Travel Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Indian Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2011-2015
      • Table Indian Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2015-2020
      • Table Indian Personal Accident and Health Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Overview
      • Table Indian Personal Accident and Health Insurance - Segment Shares of Leading Insurers (%), 2015
    • Company Profiles
      • The New India Assurance Company Ltd - company overview
        • Table The New India Assurance Company Ltd - Key Facts
        • Table The New India Assurance Company Ltd - Key Financials (INR Million), 2011-2015
      • National Insurance Company Ltd - company overview
        • Table National Insurance Company Ltd - Key Facts
        • Table National Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • United India Insurance Company Ltd - company overview
        • Table United India Insurance Company Ltd - Key Facts
        • Table United India Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • The Oriental Insurance Company Ltd - company overview
        • Table The Oriental Insurance Company Ltd - Key Facts
        • Table The Oriental Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • ICICI Lombard General Insurance Company Ltd - company overview
        • Table ICICI Lombard General Insurance Company Ltd - Key Facts
        • Table ICICI Lombard General Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • Star Health and Allied Insurance Company Ltd - company overview
        • Table Star Health and Allied Insurance Company Ltd - Key Facts
        • Table Star Health and Allied Insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table India - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
      • Table India - Sum Insured or Premium Limit for Electronic Policies
      • Table India - Percentage of Allowable Expenses
      • Table India - Commission Payable on Non-Life Insurance Policy
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table India - Life Insurance Regulatory Framework
        • Table India - Commission Payable on Single Premium Life Policy
        • Table India - Commission Payable on Regular Premium Life Policy
      • Property Insurance
        • Table India - Property Insurance Regulatory Framework
        • Table India - Compulsory Cession Limits
      • Motor Insurance
        • Table India - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table India - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
        • Table India - Commission Payable on Health Insurance Policies Offered by Life Insurers
        • Table India - Commission Payable on Health Retail Insurance Policy
        • Table India - Commission Payable on Health Group Insurance Policy
    • Compulsory Insurance
      • Third-party liability insurance for owner of hazardous facilities
      • Motor third party liability insurance
        • Table India - Premium Rates for Third-Party (TP) Liability Insurance
      • Professional indemnity insurance for insurance brokers and web aggregators
      • Workmen's compensation insurance/employers' liability insurance
        • Table India - Employee Compensation Benefits
      • Professional indemnity insurance for stock brokers
      • Aviation carriers' liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Insurance Regulatory and Development Authority of India
      • The Life Insurance Council
      • The General Insurance (GI) Council
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
        • Table India - Factors for Calculation of Required Solvency Margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table India - Surcharge for the Financial Year 2016
        • Table India - Other Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Indian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
      • Table Indian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Indian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Indian Personal Accident and Health Insurance - Assets and Investments, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Assets and Investments, 2015-2020
      • Direct marketing and e-commerce
        • Table Indian Personal Accident and Health Insurance - Direct Marketing and ECommerce, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Direct Marketing and ECommerce, 2015-2020
      • Insurance brokers and agencies
        • Table Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2015-2020
      • Bancassurance and other distribution channels
        • Table Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2015-2020
      • Personal accident insurance
        • Table Indian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
      • Health insurance
        • Table Indian Personal Accident and Health Insurance - Health Insurance, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Health Insurance, 2015-2020
      • Travel insurance
        • Table Indian Personal Accident and Health Insurance - Travel Insurance, 2011-2015
        • Table Indian Personal Accident and Health Insurance - Travel Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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