List Of Health Insurance Companies In India Wikipedia
Health insurance page gives information about the list of health insurance companies in india health insurance policies and medical insurance plan to overcome health care expenses.
List of health insurance companies in india wikipedia - National insurance new india assurance united india insurance and oriental insurance. The insurance sector has gone through a number of phases by allowing private companies to solicit insurance and. The health industry in india has rapidly become one of the most important sectors in the country in terms of income and job creation.
Insurance in india refers to the market for insurance in india which covers both the public and private sector organisations. The indian health system is one of the largest in the world with the number of people it concerns. Out of these 24 are general insurance companies offering health insurance plans and 7 are standalone health insurance companies.
It is listed in the constitution of india in the seventh schedule as a union list subject meaning it can only be legislated by the central government only. The list is based on a few factors such as their. Health insurance is an insurance that covers the whole or a part of the risk of a person incurring medical expenses spreading the risk over numerous persons by estimating the overall risk of health risk and health system expenses over the risk pool an insurer can develop a routine finance structure such as a monthly premium or payroll tax to provide the money to pay for the health care.
Health insurance in india is a growing segment of india s economy. Following is the list of insurance companies in india which have been approved by the insurance regulatory and development authority of india irdai which is a statutory body regulating and promoting the insurance and re insurance industries in india. In 1752 benjamin franklin founded the first american insurance company as philadelphia contributionship in 1820 there were 17 stock life insurance companies in the state of new york many of which would subsequently fail.
Started in 1986 in india the health insurance industry has seen exponential growth in the country. There are few important features that help it to rate the insurance companies such as their performances incurred claim ratio and overall benefits offered to their customers. Every year a list of top health insurance companies in india is declared which helps in taking the right insurance decision.
Nearly 1 3 billion potential beneficiaries. As of now there are 31 insurance companies in the country that offer health insurance products. Based on the incurred claim ratio 2017 18 the national insurance company 115 55 is at the top other factors are important to keep in mind before purchasing as mentioned above.
