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

Within health insurance, it was the retail segment that recorded impressive growth

Insurance, digital
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The government health and foreign medical portfolios have seen massive contraction

Subrata Panda Mumbai
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

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