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Even as India along with other countries in the world struggle to come out of the Covid-19 pandemic and its aftermath. Non-life insurance companies have an option to turn this crisis into an opportunity and expand their wings across the country. Even now a large Indian population in India does not have any health insurance and this is the right time for the Indian insurers to hit the ground running.
Currently, it is estimated that around 30-35 per cent of the population of India is covered under any health insurance and insurers should aspire to take it up to 50 per cent in this year itself because there is a lot of demand for health insurance from the policyholders. Additionally, things might get difficult once the lock-down 2.0 is lifted, but non-life insurance companies should aim to turn this crisis into an opportunity. In the past few weeks, there has been a surge in demand for health insurance after the breakout of the Novel Coronavirus.