Personal Accident and Health Insurance in India, Key Trends and Opportunities to 2018

Published: Oct, 2014 | Pages: 169 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into the Indian personal accident and health insurance segment, including:
The Indian personal accident and health insurance segment's growth prospects by insurance category
Key trends and drivers for the personal accident and health insurance segment 
The various distribution channels in the Indian personal accident and health insurance segment
The detailed competitive landscape of the personal accident and health insurance segment in India
Detailed regulatory policies of the Indian insurance industry
A description of the personal accident and health reinsurance segment in India
Porter's Five Forces analysis of the personal accident and health insurance segment
A benchmarking section on Indian personal accident and health insurance segment in comparison with other BRICS countries 

Summary
The Indian personal accident and health insurance segment posted significant growth during the review period. The segment's gross written premium increased at a review-period (2009-2013) compound annual growth rate (CAGR) of 21.1%, despite the global financial crisis. The robust growth was driven by increasing healthcare expenditure, favorable government initiatives for large-scale health insurance programs, and the liberalization of industry regulations. Despite the increase, penetration remains low due to a lack of consumer awareness of personal accident and health insurance - especially in rural areas, a lack of cover for many diseases, and dependence on sales of products with attached tax benefits. 
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in India:
It provides historical values for the Indian personal accident and health insurance segment for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key sub-segments in the Indian personal accident and health insurance segment, along with market forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for personal accident and health insurance products in India.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in India for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in India and its growth prospects.
It profiles the top personal accident and health insurance companies in India and outlines the key regulations affecting them. 
Reason To Buy
 Make strategic business decisions using in depth historic and forecast market data related to Indian personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within Indian personal accident and health insurance segment
Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing Indian insurance segment, and their impact on companies and the market's future 
Key Highlights
 The personal accident and health segment accounted for 5.2% of the overall insurance industry's gross written premium in 2013
During the review period (2009-2013) the Indian personal accident and health insurance segment recorded a CAGR of 21.1%.
Healthcare was one of the fastest-growing categories in India with a review-period CAGR of 22.0%, but a substantial proportion of the population is still unaware of health insurance, especially in rural areas.
In July 2013, IRDA proposed an increase in the FDI limit from 26% to 49% in order to improve, promote and develop the domestic insurance industry, which was approved by the CCEA in July 2014. The increased cap is anticipated to attract global insurers to invest in the segment, intensifying competition over the forecast period.
Health insurers used numerous prominent platforms such as print media and television, as well as organizing free health camps, to raise awareness of health insurance during the review period.

 1 Key Facts and Events
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Indian Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009-2018
4.2 Regiol Benchmarking
4.2.1 Overview
4.2.2 Market trends
4.2.3 Scale and penetration
4.2.4 Total segment gross written premium
5 Persol Accident and Health Insurance Segment Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Persol Accident and Health Insurance Growth Prospects by Category
5.5.1 Persol accident insurance
5.5.2 Travel insurance
5.5.3 Health insurance
6 Alysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-commerce
6.5 Brokers
6.6 Other Channels
7 Governce, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Legislation Trends by Type of Insurance
7.2.1 Life insurance regulatory trends
7.2.2 Property insurance regulatory trends
7.2.3 Motor insurance regulatory trends
7.2.4 Marine, aviation and transit insurance regulatory trends
7.2.5 Persol accident and health insurance regulatory trends
7.3 Compulsory Insurance
7.3.1 Motor third-party liability insurance
7.3.2 Workmen's compensation insurance/employers' liability insurance
7.4 Supervision and Control
7.4.1 Intertiol Association of Insurance Supervisors
7.4.2 Insurance Regulatory and Development Authority
7.5 Non-Admitted Insurance Regulatory Trends
7.5.1 Overview
7.5.2 Intermediaries
7.5.3 Market practices
7.5.4 Fines and pelties
7.6 Company Registration and Operations
7.6.1 Types of insurance organization
7.6.2 Establishing a local company
7.6.3 Foreign ownership
7.6.4 Types of license
7.6.5 Capital requirements
7.6.6 Solvency margins
7.6.7 Reserve requirements
7.6.8 Investment regulations
7.6.9 Statutory return requirements
7.6.10 Fee structure
7.7 Taxation
7.7.1 Insurance premium or policy taxation
7.7.2 Corporate tax
7.7.3 VAT
7.7.4 Captives
7.8 Legal System
7.8.1 Introduction
7.8.2 Access to court
7.8.3 Altertive dispute resolution (ADR)
8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in Indian Persol Accident and Health Insurance Segment
8.3 Comparison of the Top Five Insurers
8.3.1 Gross written premium
8.3.2 Net earned premium
8.3.3 Paid claims
8.3.4 Incurred loss
8.4 Leading Persol accident and health Insurers - New Product Launches
8.5 Leading Persol accident and health Insurers - Key Developments
8.6 New India Assurance Co. Ltd - Company Overview
8.6.1 New India Assurance Co. Ltd - key facts
8.6.2 New India Assurance Co. Ltd - key fincials
8.7 United India Insurance Co. Ltd - Company Overview
8.7.1 United India Insurance Co. Ltd - key facts
8.7.2 United India Insurance Co. Ltd - key fincials
8.8 tiol Insurance Co. Ltd - Company Overview
8.8.1 tiol Insurance Co. Ltd - key facts
8.8.2 tiol Insurance Co. Ltd - key fincials
8.9 ICICI Lombard General Insurance Co. Ltd - company overview
8.9.1 ICICI Lombard General Insurance Co. Ltd - key facts
8.9.2 ICICI Lombard General Insurance Co. Ltd - key fincials
8.1 Oriental Insurance Company Ltd - Company Overview
8.10.1 Oriental Insurance Company Ltd - key facts
8.10.2 Oriental Insurance Company Ltd - key fincials
8.11 Star Health and Allied Insurance Co. Ltd - Company Overview
8.11.1 Star Health & Allied Insurance Co. Ltd - key facts
8.11.2 Star Health & Allied Insurance Co. Ltd - key fincials
8.12 HDFC Ergo General Insurance Company Ltd�-Company Overview
8.12.1 HDFC Ergo General Insurance Company Ltd�- key facts
8.12.2 HDFC Ergo General Insurance Company Ltd�- key fincials
8.13 Bajaj Allianz General Insurance Co. Ltd - Company Overview
8.13.1 Bajaj Allianz General Insurance Co. Ltd - key facts
8.13.2 Bajaj Allianz General Insurance Co. Ltd - key fincials
8.14 Apollo Munich Health Insurance Company Ltd�- Company Overview
8.14.1 Apollo Munich Health Insurance Company Ltd�- key facts
8.14.2 Apollo Munich Health Insurance Company Ltd�- key fincials
8.15 Reliance General Insurance Company Ltd - Company Overview
8.15.1 Reliance General Insurance Company Ltd - key facts
8.15.2 Reliance General Insurance Company Ltd - key fincials
9 Appendix - 1
9.1 Market Capitalization Trend - Bombay Stock Exchange, India
9.2 GDP at Constant Prices (US$)
9.3 GDP per Capita at Constant Prices (US$)
9.4 GDP at Current Prices (US$)
9.5 GDP per Capita at Current Prices (US$)
9.6 Inflation Rate
9.7 Unemployment Rate
9.8 Household Consumption Expenditure (US$)
9.9 Total Population
9.1 Urban and Rural Populations
9.11 Age Distribution of the Total Population
10 Appendix - 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric's Services
10.5 Disclaimer

List of Tables
Table 1: Indian Persol Accident and Heath Insurance - Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Indian Insurance Industry - Gross Written Premium by Segment (% Shares), 2009-2018
Table 4: Indian Insurance Industry - Direct Written Premium by Segment (% Shares), 2009-2018
Table 5: India - Life Insurance Regulatory Framework
Table 6: India - Property Insurance Regulatory Framework
Table 7: India - Motor Insurance Regulatory Framework
Table 8: India - Premium Rates for Third-Party (TP) Liability Insurance
Table 9: India - Corporate Income Tax Rates for the Fincial Year 2013 - 2014
Table 10: India - Other Corporate Tax Rates for the Fincial Year 2012-2013
Table 11: India - Changes in Corporate Tax Rates on Implementation of DTC
Table 12: Shares of Key Insurers in Indian Persol Accident and Health Insurance Segment (%), 2013
Table 13: New India Assurance Co. Ltd, Key Facts
Table 14:New India Assurance Co. Ltd, Key Fincials (INR Million), 2009-2013
Table 15: United India Insurance Co. Ltd, Key Facts
Table 16:United India Insurance Co. Ltd, Key Fincials (INR Million), 2009-2013
Table 17: tiol Insurance Co. Ltd, Key Facts
Table 18:tiol Insurance Co. Ltd, Key Fincials (INR Million), 2009-2013
Table 19: ICICI Lombard General Insurance Co. Ltd, Key Facts
Table 20:ICICI Lombard General Insurance Co. Ltd, Key Fincials (INR Million), 2009-2013
Table 21: Oriental Insurance Company Ltd, Key Facts
Table 22:Oriental Insurance Company Ltd, Key Fincials (INR Million), 2009-2013
Table 23: Star Health & Allied Insurance Co. Ltd, Key Facts
Table 24:Star Health & Allied Insurance Co. Ltd, Key Fincials (INR Million), 2009-2013
Table 25: HDFC Ergo General Insurance Company Ltd, Key Facts
Table 26:HDFC Ergo General Insurance Company Ltd, Key Fincials (INR Million), 2009-2013
Table 27: Bajaj Allianz General Insurance Co. Ltd, Key Facts
Table 28:Bajaj Allianz General Insurance Co. Ltd, Key Fincials (INR Million), 2009-2013
Table 29: Apollo Munich Health Insurance Company Ltd, Key Facts
Table 30:Apollo Munich Health Insurance Company Ltd, Key Fincials (INR Million), 2009-2013
Table 31: Reliance General Insurance Company Ltd, Key Facts
Table 32: Reliance General Insurance Company Ltd, Key Fincials (INR Million), 2009-2013