Find stats on top websites
Industry Landscape
Total Assets Under Management (AUM)
in
~
( CAGR)
Total Addressable Market
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Artificial Intelligence (AI)
AI-powered personalized insurance products and services will offer tailored health plans based on individual health data and preferences, enhancing customer experience and retention.
Blockchain
Blockchain technology can streamline claim processing, reduce fraud, and improve data security, leading to more efficient operations and increased customer trust.
Telehealth & Remote Monitoring
Telehealth and remote monitoring technologies will facilitate remote consultations, continuous health monitoring, and personalized care, expanding access to healthcare services and reducing costs.
Impactful Policy Frameworks
IRDAI's Guidelines on Standardization of Health Insurance Products (2020)
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines to standardize health insurance products, ensuring uniform coverage and policy wordings across insurers to enhance transparency and customer understanding.
This may necessitate adjustments to policy offerings to ensure compliance and could drive product innovation to cater to evolving customer needs and preferences.
National Digital Health Mission (NDHM) (2020)
The National Digital Health Mission (NDHM) aims to create a digital healthcare ecosystem by integrating various digital health services, including telemedicine, electronic health records, and a unique health ID for citizens.
It will increase the demand for comprehensive health insurance plans that cover telemedicine services, thereby encouraging insurers to integrate telemedicine into their offerings.
IRDAI's Regulations on Protection of Policyholders' Interests (2017)
IRDAI's regulations focus on protecting policyholders' interests by ensuring fair treatment, transparency in policy terms, and efficient grievance redressal mechanisms for insurance consumers.
This will push for more transparent and customer-friendly insurance practices, reducing mis-selling and improving overall customer satisfaction.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
