ICICI Securities: Covid-19 Will Usher Growth; Though Risks Remains Unknown For India’s General Insurance Sector
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ICICI Securities Report
We hosted Dr. S Prakash, Managing Director, Star Health, to discuss the health insurance situation in India in the backdrop of Covid-19 and the opportunities and challenges for insurers in the future.
While the long-term growth potential remains big, success for health insurers will be driven by combination of technology and medical knowhow. Investment in both these areas will be critical while there are untapped opportunities like outpatient charges.
Fragile non-uniform medical infrastructure along with lack of coherent data remains a challenge for insurers. There is accelerated business growth post pandemic, but Covid-19 remains largely unknown and can pose higher claims. Average Covid-19 claim is 3 times compared to non-Covid claims for Star Health.
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