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Health Insurance Claims Analysis 2017-18

The document shows incurred claims ratios for various private and standalone health insurers in India for 2017-18. It provides data on the net earned premium and net claims incurred for each insurer in crore, as well as an overall incurred claims ratio of 60.29% for standalone health insurers and ranges from 7.89% to 106.54% for private insurers. It also mentions that the healthcare market in India is projected to reach Rs. 8.6 trillion by 2022.

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Abhishek Kumar Sinha
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149 views5 pages

Health Insurance Claims Analysis 2017-18

The document shows incurred claims ratios for various private and standalone health insurers in India for 2017-18. It provides data on the net earned premium and net claims incurred for each insurer in crore, as well as an overall incurred claims ratio of 60.29% for standalone health insurers and ranges from 7.89% to 106.54% for private insurers. It also mentions that the healthcare market in India is projected to reach Rs. 8.6 trillion by 2022.

Uploaded by

Abhishek Kumar Sinha
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
  • Insurance Claims Ratios
  • Healthcare Market Insights and Statistics

Incurred Claims Ratio 2017-18 - Private and Standalone Health Insurers - A Comp

Incurred Claims Ratio 2017-18 - Private and Standalone Health Insurers - A Comp
Net Earned
Net Claims Incurred (in
Insurer Premium (in
Crore)
Crore)
CKO General
0.08 crore 0.05 crore
Insurance
Bajaj Allianz 1331.60 crore 1033.47 crore
Bharti Axa 99.69 crore 98.29 crore
Cholamandalam
339.16 crore 135.53 crore
MS
DHFL 16.87 crore 1.33 crore
Edelweiss 0 0
Future Generali 256.26 crore 224.03 crore
HDFC Ergo 805.11 crore 423.30 crore
Go Digit 1.76 crore 1.05 crore
ICICI Lombard 1349.32 crore 921.00 crore
IFFCO Tokio 499.08 crore 452.62 crore
Kotak Mahindra 15.10 crore 7.28 crore
Liberty General 101.25 crore 75.51 crore
Magma HDI 3.38 crore 1.18 crore
Raheja QBE
0.13 crore 0.02 crore
Insurance
Reliance 671.16 crore 715.08 crore
Royal Sundaram 251.76 crore 154.60 crore
SBI General 806.21 crore 426.76 crore
Shriram 2.27 crore 1.15 crore
Universal SOMPO 133.06 crore 138.60 crore
Standalone Health Insurance Companies
Aditya Birla 151.98 135.35
Apollo Munich 1264.34 789.88
Cigna TTK 266.14 123.2
Max Bupa 575.85 289.02
Care 679.67 353.21
Star Health 2739.6 1692.02
5677.58 3382.68

According to the
National Institute of
Cancer Prevention
and Research
(NICPR), an
estimated 2.25
million
Indian Govt spending on healthcare
$36B
Stats Source Accessed on
The healthcare market can increase three-
fold to Rs 8.6 trillion (US$ 133.44 billion) by
2022. [Link]
1-Nov-20

Health insurance is gaining momentum in


India. Gross direct premium income
underwritten by health insurance grew
17.16% y-o-y to Rs 51,637.84 crore ( US$ 7.39
billion) in FY20 [Link]
1-Nov-20
Projected amount @ 17% YOY in 2022 US$ 10.11 billion

According to the National Institute of Cancer


Prevention and Research (NICPR), an
estimated 2.25 million people in India live
with cancer [Link]
3-Nov-20
more than 1,157,294 new cancer patients are
registered every year [Link] 3-Nov-20
In 2018, 7,84,821 people (4,13,519 men and
3,71,302 women) died of cancer [Link] 3-Nov-20
India has merely 0.98 oncologists per million
population [Link] 3-Nov-20

According to the National Health Authority


(NHA), as on 15 December 2019, 4, 70,133
cancer cases have been treated under
Ayushman Bharat-PMJAY, considered to be
the world’s largest fully government-financed
health insurance scheme. [Link] 3-Nov-20
017-18 - Private and Standalone Health Insurers - A Comparison:
017-18 - Private and Standalone Health Insurers - A Comparison:

Incurred Claims ratio (in%) [Link]


1-Nov-20
65.02%

77.61%
98.50%

39.96%

7.89%
70.01%
87.42%
52.58%
60.00%
68.26%
90.69%
48.21%
74.58%
34.93%

18.19%

106.54%
61.41%
52.93%
50.83%
104.17%

89.05%
62.47%
46.29%
50.19%
51.97%
61.76%
60.29%
0

Insurer 0.08 crore 0.05 crore Bajaj Allianz 1331.60 crore 1033.47 crore Bharti Axa 99.69 crore 98.29 crore 339.16 crore 135.5
IFFCO Tokio 499.08 crore 452.62 crore Kotak Mahindra 15.10 crore 7.28 crore Liberty General 101.25 crore 75.51 crore Magma HD
Indian Govt spending on healthcare $36B Stats Source Accessed on 1-Nov-20 1-Nov-20 3-Nov-20 3-Nov-20 3-Nov-20 3-Nov-20 3-No
90.69% 48.21% 74.58% 34.93% 18.19% 106.54% 61.41% 52.93% 50.83% 104.17% 89.05% 62.47% 46.29% 50.19% 51.97% 61.76% 60.29%
0

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