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A Study on Growth of Health Insurance Sector During COVID-19 and It?s Future Prospects.
Subject area: Management and Commerce · Area of research: Finance
Abstract
COVID-19 made every human being to understand the uncertainty of life and securing the health and wealth of self and their dear one. The pandemic has created that consciousness of the need for health insurance and what impact it gives in general. There is 34.2% increase in the growth of health insurance (2022 YTD) and there is expectancy of increasing more than this in the coming months.(Jan 3, 2022) In this study the reason for the growth and the future growth prospect of health insurance is studied. The essence of health insurance are the new, innovative and consumer friendly products. From waiting for months to receive health insurance benefits to cashless insurance benefits the customers have experienced a lot. In order to provide need based health insurance IRDA (Insurance Regulatory and Development Authority of India) has framed health insurance under the section 14 (2) (e) of IRDA Act, 1999 to help consumers to deal with the current health crisis. In this entire study the future of health insurance is studied.
Keywords
Insurance, Health, RPA, Innovation, COVID-19, Health Insurance.
References
[1] Datta, M. M. (Dec 2020). Health insurance Emarald .
[2] Monica Bhatia, S. M. (June 2018). Evolution of the Indian Health Insurance Sector: A review . Journal of Management Research and Analysis,
[3] Leemore S. Dafny, Y. W. (Aug 2020 ). How Has Covid-19 Affected Health Insurance Offered by Small Businesses in the U.S.? Early Evidence from a Survey. NEJM .
[4] Bhattachrya, B. N. (Feb 2021). The Changing Narrative in the Health Insurance Industry: Wearables Technology in Health Insurance Products and Services for the COVID-19 World. IIHMR .
[5] Gina Weir Smith, T. M. (Mar 2022). National health insurance in the face of COVID-19: urban tendencies in South Africa. Published online .
[6] globaldata. (2022, june 1). General insurance industry in India to grow at 9.9% CAGR through 2026, forecasts GlobalData. Retrieved 2022, from global data: https://www.globaldata.com/media/insurance/ge neral-insurance-industry-india-grow-9-9-cagr- 2026-forecasts-globaldata/
How to cite this paper
@article{1704077,
author = {Dr. Pralhad Rathod, N S Aishwaryalaxmi},
title = {A Study on Growth of Health Insurance Sector During COVID-19 and It?s Future Prospects.},
journal = {Iconic Research And Engineering Journals},
year = {2023},
volume = {6},
number = {8},
pages = {27-30},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1704077.pdf},
abstract = {COVID-19 made every human being to understand the uncertainty of life and securing the health and wealth of self and their dear one. The pandemic has created that consciousness of the need for health insurance and what impact it gives in general. There is 34.2% increase in the growth of health insurance (2022 YTD) and there is expectancy of increasing more than this in the coming months.(Jan 3, 2022) In this study the reason for the growth and the future growth prospect of health insurance is studied. The essence of health insurance are the new, innovative and consumer friendly products. From waiting for months to receive health insurance benefits to cashless insurance benefits the customers have experienced a lot. In order to provide need based health insurance IRDA (Insurance Regulatory and Development Authority of India) has framed health insurance under the section 14 (2) (e) of IRDA Act, 1999 to help consumers to deal with the current health crisis. In this entire study the future of health insurance is studied.},
keywords = {Insurance, Health, RPA, Innovation, COVID-19, Health Insurance.},
month = {February},
}