Page 356 - Ebook health insurance IC27

The Insurance Times

Proposed Developments in
Health Insurance sector in India

H ealth Insurance is the basic necessity of every human being. Ours being a welfare
state it is the duty of the government to see that health services are equally available
to all strata of the society.

Our country will progress only when our people have a healthy physique and a healthy
mind. The health insurance delivery system in India is at nascent stage. Though many
companies are offering plethora of health insurance products, the companies are bleeding
with huge claims. Insurance works on law of average. Unless there is a large pool
consisting of healthy and ill persons the portfolio will continue to bleed.

Right now weoften find that people go for insurance once they suspect having contracting
any disease. This is the root cause of insurance companies paying huge claims. They
must cover healthy lives to offset this loss and increase the net of insurance to make this
portfolio sustainable and profitable.

Health Insurance being a basic necessity and right of every person, insurers have twin
objectives of making profit as well as of providing service to society. Here we are

360 Guide for Health Insurance