Growth in health insurance segment slows as fear of Covid-19 subsides

After recording impressive growth in the initial months of the pandemic outbreak, the growth in the health insurance segment of non-life insurers appears to be slowing as the fear of Covid subsides.
 
“The initial euphoria for health products during the Covid period is dying down now because that was knee-jerk reaction to buy insurance immediately looking at the hospital cost for Covid,” said Gurdeep Singh Batra, head – retail underwriting, Bajaj Allianz General Insurance.
 
Within health insurance, it was the retail segment that recorded impressive growth. In the April-November period of financial year 2020-21 (FY21), general insurers recorded