| 5- Future of Group Health Insurance in India |
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| At present 50% is the market share of Group Health in the premium collected by Health Insurance Companies & General Health Insurance Companies With introduction of RSBY type schemes in various states we forsee that % share of Group Health Insurance should increase. |
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| However losses being incurred by insurance companies due to claims being lodged under group policy are giving an indication that insurance companies will like more business to be booked under individual/Retail portfolio so that they can control the losses. |
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| Recently some insurance companies took the stand and hence convinced their clients to drop parents from the group policy as a result we could see that some of the individuals/senior citizens who were earlier being covered under group policy are new being compelled to go in for individual policy. |
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| Recently we also have come across intention of Delhi Government to have a group policy to cover normal citizens (who are not covered under below the poverty line) with the objective that more and more citizens should the covered under health insurance (something similar to Karnataka / Andhra example) If this trend continues we may find % of group business to increase because of following reasons. |
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- Group ratio are lower
- In most cases preexisting disease is covered.
- In most cases maternity is also covered.
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| With a view to keep proper balance of Group vs. Retail so that profitability is maintained insurance companies should improve service level to be offered to individuals/families. This is the only way to keep trend in right direction. |
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