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Market Research Report

Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020

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Published Content info 157 Pages
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Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020
Published: September 11, 2016 Content info: 157 Pages
Description

Timetric's 'Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Indian life insurance segment, and a comparison of the Indian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Indian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Personal Accident and Health Insurance in India Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Indian personal accident and health insurance segment, including:

  • An overview of the Indian personal accident and health insurance segment
  • The Indian personal accident and health insurance segment's growth prospects by category
  • A comprehensive overview of the Indian economy and demographics
  • A comparison of the Indian personal accident and health insurance segment with its regional counterparts
  • The various distribution channels in the Indian personal accident and health insurance segment
  • Details of the competitive landscape in the personal accident and health insurance segment in India
  • Details of regulatory policy applicable to the Indian insurance industry

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 2011-2015 review period, and projected figures for the 2015-2020 forecast period.
  • It offers a detailed analysis of the key categories in the Indian personal accident and health insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Indian personal accident and health insurance segment with its regional counterparts
  • It provides an overview of the various distribution channels for personal accident and health insurance products in India.
  • It profiles the top personal accident and health insurance companies in India, and outlines the key regulations affecting them.

Reasons To Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Indian personal accident and health insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Indian personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the industry's future.
Table of Contents
Product Code: IS1267MR

Table of Contents

1. Key Facts and Highlights

2. Executive Summary

3. Economy and Demographics

4. Segment Outlook

  • 4.1. Regional Comparison
  • 4.2. Segment Indicators
    • 4.2.1. Gross written premium and penetration
    • 4.2.2. Policies sold
    • 4.2.3. Claims
    • 4.2.4. Profitability
    • 4.2.5. Assets and investments

5. Outlook by Category

  • 5.1. Personal Accident Insurance
    • 5.1.1. Premium
    • 5.1.2. Policies
    • 5.1.3. Claims
    • 5.1.4. Profitability
  • 5.2. Health Insurance
    • 5.2.1. Premium
    • 5.2.2. Policies
    • 5.2.3. Claims
    • 5.2.4. Profitability
  • 5.3. Travel Insurance
    • 5.3.1. Premium
    • 5.3.2. Policies
    • 5.3.3. Claims
    • 5.3.4. Profitability

6. Distribution Channel Outlook

  • 6.1. Analysis by Distribution Channel

7. Competitive Landscape

  • 7.1. Overview
  • 7.2. Company Profiles
    • 7.2.1. The New India Assurance Company Ltd. company overview
    • 7.2.2. National Insurance Company Ltd. company overview
    • 7.2.3. United India Insurance Company Ltd. company overview
    • 7.2.4. The Oriental Insurance Company Ltd. company overview
    • 7.2.5. ICICI Lombard General Insurance Company Ltd. company overview
    • 7.2.6. Star Health and Allied Insurance Company Ltd. company overview

8. Governance, Risk and Compliance

  • 8.1. Legislation Overview and Historical Evolution
  • 8.2. Latest Changes in Regulation
  • 8.3. Legislation and Market Practice by Type of Insurance
    • 8.3.1. Life Insurance
    • 8.3.2. Property Insurance
    • 8.3.3. Motor Insurance
    • 8.3.4. Liability insurance
    • 8.3.5. Marine, aviation and transit insurance
    • 8.3.6. Personal accident and health insurance
  • 8.4. Compulsory Insurance
    • 8.4.1. Third-party liability insurance for owner of hazardous facilities
    • 8.4.2. Motor third party liability insurance
    • 8.4.3. Professional indemnity insurance for insurance brokers and web aggregators
    • 8.4.4. Workmen's compensation insurance/employers' liability insurance
    • 8.4.5. Professional indemnity insurance for stock brokers
    • 8.4.6. Aviation carriers' liability insurance
  • 8.5. Supervision and Control
    • 8.5.1. International Association of Insurance Supervisors
    • 8.5.2. Insurance Regulatory and Development Authority of India
    • 8.5.3. The Life Insurance Council
    • 8.5.4. The General Insurance (GI) Council
  • 8.6. Non-Admitted Insurance Regulations
    • 8.6.1. Overview
    • 8.6.2. Intermediaries
    • 8.6.3. Market practices
    • 8.6.4. Fines and Penalties
  • 8.7. Company Registration and Operations
    • 8.7.1. Type of insurance organization
    • 8.7.2. Establishing. local company
    • 8.7.3. Foreign ownership
    • 8.7.4. Types of license
    • 8.7.5. Capital requirements
    • 8.7.6. Solvency margin
    • 8.7.7. Reserve requirements
    • 8.7.8. Investment regulations
    • 8.7.9. Statutory return requirements
    • 8.7.10. Fee structure
  • 8.8. Taxation
    • 8.8.1. Insurance premium or policy taxation
    • 8.8.2. Withholding taxes on premium paid overseas
    • 8.8.3. Corporate tax
    • 8.8.4. VAT
    • 8.8.5. Captives
  • 8.9. Legal System
    • 8.9.1. Introduction
    • 8.9.2. Access to court
    • 8.9.3. Alternative dispute resolution (ADR)

9. Databook

  • 9.1. Policies and Premium
    • 9.1.1. Claims and expenses
    • 9.1.2. Assets and investments
    • 9.1.3. Direct marketing and e-commerce
    • 9.1.4. Insurance brokers and agencies
    • 9.1.5. Bancassurance and other distribution channels
    • 9.1.6. Personal accident insurance
    • 9.1.7. Health insurance
    • 9.1.8. Travel insurance

10. Definitions and Methodology

  • 10.1. Definitions
  • 10.2. Methodology

11. About Timetric

  • 11.1. Contact Timetric
  • 11.2. About Timetric
  • 11.3. Timetric's Services
  • 11.4. Disclaimer

List of Tables

  • Table 1: Indian Personal Accident and Health Insurance - Key Facts, 2015
  • Table 2: Indian Personal Accident and Health Insurance - Segment Shares of the Top Insurers, 2015
  • Table 3: BRICS Region - Real GDP (US$ Billion), 2015
  • Table 4: Indian Government Credit Ratings
  • Table 5: Indian Travel Insurance - Number of Railway Accidental Deaths by Type, 2010-2014
  • Table 6: Indian Personal Accident and Health Insurance - Gross Written Premium (INR Billion and US$ Billion), 2011-2015
  • Table 7: Indian Personal Accident and Health Insurance - Penetration (%), 2011-2015
  • Table 8: Indian Personal Accident and Health Insurance - Gross Written Premium (INR Billion and US$ Billion), 2015-2020
  • Table 9: Indian Personal Accident and Health Insurance - Penetration (%), 2015-2020
  • Table 10: Indian Personal Accident and Health Insurance - Premium per Capita (INR and US$), 2011-2015
  • Table 11: Indian Personal Accident and Health Insurance - Premium per Capita (INR and US$), 2015-2020
  • Table 12: Indian Personal Accident and Health Insurance - Number of Policies Sold (Million), 2011-2015
  • Table 13: Indian Personal Accident and Health Insurance - Number of Policies Sold (Million), 2015-2020
  • Table 14: Indian Personal Accident and Health Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
  • Table 15: Indian Personal Accident and Health Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
  • Table 16: Indian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
  • Table 17: Indian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
  • Table 18: Indian Personal Accident and Health Insurance - Total Assets (INR Billion and US$ Billion), 2011-2015
  • Table 19: Indian Personal Accident and Health Insurance - Total Assets (INR Billion and US$ Billion), 2015-2020
  • Table 20: Indian Personal Accident and Health Insurance - Total Investment Income (INR Billion and US$ Billion), 2011-2015
  • Table 21: Indian Personal Accident and Health Insurance - Total Investment Income (INR Billion and US$ Billion), 2015-2020
  • Table 22: Indian Personal Accident and Health Insurance - Investment Portfolio (INR Billion), 2011-2015
  • Table 23: Indian Personal Accident and Health Insurance - Investment Portfolio (INR Billion), 2015-2020
  • Table 24: Indian Personal Accident and Health Insurance - Direct Written Premium by Category (INR Billion), 2011-2015
  • Table 25: Indian Personal Accident and Health Insurance - Direct Written Premium by Category (INR Billion), 2015-2020
  • Table 26: Indian Personal Accident Insurance - Direct Written Premium (INR Billion and US$ Billion), 2011-2015
  • Table 27: Indian Personal Accident Insurance - Direct Written Premium (INR Billion and US$ Billion), 2015-2020
  • Table 28: Indian Personal Accident Insurance - Number of Policies Sold (Million), 2011-2015
  • Table 29: Indian Personal Accident Insurance - Number of Policies Sold (Million), 2015-2020
  • Table 30: Indian Personal Accident Insurance - Paid Claims (INR Million and US$ Million), 2011-2015
  • Table 31: Indian Personal Accident Insurance - Paid Claims (INR Million and US$ Million), 2015-2020
  • Table 32: Indian Personal Accident Insurance - Loss Ratio (%), 2011-2015
  • Table 33: Indian Personal Accident Insurance - Loss Ratio (%), 2015-2020
  • Table 34: Indian Health Insurance - Direct Written Premium (INR Billion), 2011-2015
  • Table 35: Indian Health Insurance - Direct Written Premium (INR Billion), 2015-2020
  • Table 36: Indian Health Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
  • Table 37: Indian Health Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
  • Table 38: Indian Health Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
  • Table 39: Indian Health Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
  • Table 40: Indian Health Insurance - Loss Ratio (%), 2011-2015
  • Table 41: Indian Health Insurance - Loss Ratio (%), 2015-2020
  • Table 42: Indian Travel Insurance - Direct Written Premium (INR Million), 2011-2015
  • Table 43: Indian Travel Insurance - Direct Written Premium (INR Million), 2015-2020
  • Table 44: Indian Travel Insurance - Number of Policies Sold (Thousand), 2011-2015
  • Table 45: Indian Travel Insurance - Number of Policies Sold (Thousand), 2015-2020
  • Table 46: Indian Travel Insurance - Paid Claims (INR Million and US$ Million), 2011-2015
  • Table 47: Indian Travel Insurance - Paid Claims (INR Million and US$ Million), 2015-2020
  • Table 48: Indian Travel Insurance - Loss Ratio (%), 2011-2015
  • Table 49: Indian Travel Insurance - Loss Ratio (%), 2015-2020
  • Table 50: Indian Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2011-2015
  • Table 51: Indian Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2015-2020
  • Table 52: Indian Personal Accident and Health Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
  • Table 53: Indian Personal Accident and Health Insurance - Segment Shares of Leading Insurers (%), 2015
  • Table 54: The New India Assurance Company Ltd - Key Facts
  • Table 55: The New India Assurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Table 56: National Insurance Company Ltd - Key Facts
  • Table 57: National Insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Table 58: United India Insurance Company Ltd - Key Facts
  • Table 59: United India Insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Table 60: The Oriental Insurance Company Ltd - Key Facts
  • Table 61: The Oriental Insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Table 62: ICICI Lombard General Insurance Company Ltd - Key Facts
  • Table 63: ICICI Lombard General Insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Table 64: Star Health and Allied Insurance Company Ltd - Key Facts
  • Table 65: Star Health and Allied Insurance Company Ltd - Key Financials (INR Million), 2011-2015

Table66: India - Insurance Regulatory Framework Key Features

Table67: India - Sum Insured or Premium Limit for Electronic Policies

Table68: India - Percentage of Allowable Expenses

Table69: India - Commission Payable on Non-Life Insurance Policy

Table70: India - Life Insurance Regulatory Framework

Table71: India - Commission Payable on Single Premium Life Policy

Table72: India - Commission Payable on Regular Premium Life Policy

Table73: India - Property Insurance Regulatory Framework

Table74: India - Compulsory Cession Limits

Table75: India - Motor Insurance Regulatory Framework

Table76: India - Liability Insurance Regulatory Framework

Table77: India - Commission Payable on Health Insurance Policies Offered by Life Insurers

Table78: India - Commission Payable on Health Retail Insurance Policy

Table79: India - Commission Payable on Health Group Insurance Policy

Table80: India - Premium Rates for Third-Party (TP) Liability Insurance

Table81: India - Employee Compensation Benefits

Table82: India - Factors for Calculation of Required Solvency Margin

Table83: India - Surcharge for the Financial Year 2016

Table84: India - Other Corporate Tax Rates for the Financial Year 2016

  • Table 85: Indian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
  • Table 86: Indian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
  • Table 87: Indian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
  • Table 88: Indian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
  • Table 89: Indian Personal Accident and Health Insurance - Assets and Investments, 2011-2015
  • Table 90: Indian Personal Accident and Health Insurance - Assets and Investments, 2015-2020
  • Table 91: Indian Personal Accident and Health Insurance - Direct Marketing and E-Commerce, 2011-2015
  • Table 92: Indian Personal Accident and Health Insurance - Direct Marketing and E-Commerce, 2015-2020
  • Table 93: Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2011-2015
  • Table 94: Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2015-2020
  • Table 95: Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2011-2015
  • Table 96: Indian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2015-2020
  • Table 97: Indian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
  • Table 98: Indian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
  • Table 99: Indian Personal Accident and Health Insurance - Health Insurance, 2011-2015
  • Table 100: Indian Personal Accident and Health Insurance - Health Insurance, 2015-2020
  • Table 101: Indian Personal Accident and Health Insurance - Travel Insurance, 2011-2015
  • Table 102: Indian Personal Accident and Health Insurance - Travel Insurance, 2015-2020
  • Table 103: Insurance Industry Definitions

List of Figures

  • Figure 1: Indian Real GDP (INR Trillion), 2011-2020
  • Figure 2: Indian Consumer Price Inflation (%), 2011-2020
  • Figure 3: Indian Current Account Balance as Percentage of GDP (%), 2011-2020
  • Figure 4: INR-US$ Exchange Rate, 2011-2020
  • Figure 5: Indian Unemployment Rate (%), 2011-2020
  • Figure 6: Indian Population by Age Group, 1991-2025
  • Figure 7: Indian Personal Accident Insurance - Number of Road Accidents, 2011-2015
  • Figure 8: Indian Personal Accident Insurance - Fatalities in Road Accidents, 2011-2015
  • Figure 9: Indian Personal Accident Insurance - Road Accidents by State - 2015
  • Figure 10: Indian Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2015
  • Figure 11: Indian Insurance Industry Direct Written Premium Shares - Regional Comparison (%), 2015
  • Figure 12: Indian Personal Accident and Health Insurance - Gross Written Premium (INR Billion), 2011-2020
  • Figure 13: Indian Personal Accident and Health Insurance - Penetration (%), 2011-2020
  • Figure 14: Indian Personal Accident and Health Insurance - Premium per Capita (INR), 2011-2020
  • Figure 15: Indian Personal Accident and Health Insurance - Number of Policies Sold (Million), 2011-2020
  • Figure 16: Indian Personal Accident and Health Insurance - Paid Claims (INR Billion), 2011-2020
  • Figure 17: Indian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2020
  • Figure 18: Indian Personal Accident and Health Insurance - Total Assets (INR Billion), 2011-2020
  • Figure 19: Indian Personal Accident and Health Insurance - Total Investment Income (INR Billion), 2011-2020
  • Figure 20: Indian Personal Accident and Health Insurance - Investment Portfolio (INR Billion), 2011-2020
  • Figure 21: Indian Personal Accident and Health Insurance - Investment Portfolio Dynamics by Category, 2011-2020
  • Figure 22: Indian Personal Accident and Health Insurance - Direct Written Premium by Category (INR Billion), 2011-2020
  • Figure 23: Indian Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2011-2020
  • Figure 24: Indian Personal Accident Insurance - Direct Written Premium (INR Billion), 2011-2020
  • Figure 25: Indian Personal Accident Insurance - Number of Policies Sold (Million), 2011-2020
  • Figure 26: Indian Personal Accident Insurance - Paid Claims (INR Billion), 2011-2020
  • Figure 27: Indian Personal Accident Insurance - Earned Premium, Incurred Loss and Loss Ratio (INR Billion and %), 2011-2020
  • Figure 28: Indian Health Insurance - Direct Written Premium (INR Billion), 2011-2020
  • Figure 29: Indian Health Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2020
  • Figure 30: Indian Health Insurance - Paid Claims (INR Billion), 2011-2020
  • Figure 31: Indian Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (INR Billion and %), 2011-2020
  • Figure 32: Indian Travel Insurance - Direct Written Premium (INR Million), 2011-2020
  • Figure 33: Indian Travel Insurance - Number of Policies Sold (Thousand), 2011-2020
  • Figure 34: Indian Travel Insurance - Paid Claims (INR Billion), 2011-2020
  • Figure 35: Indian Travel Insurance - Earned Premium, Incurred Loss and Loss Ratio (INR Billion and %), 2011-2020
  • Figure 36: Indian Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
  • Figure 37: Indian Personal Accident and Health Insurance - Segment Shares of Leading Insurers (%), 2015
  • Figure 38: India - Insurance Supervision and Control at Various Levels
  • Figure 39: India - Insurance Regulatory Frameworks for Company Registration and Operation
  • Figure 40: India - Judiciary System
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