Health Insurance - SAHIs, Securing The Population: Motilal Oswal

Motilal Oswal Report

For FY23/FY22, standalone health insurers reported a market share of 28.1%/27.3% in overall health and 54%/51% in retail health (versus 19%/37% in overall/retail health in FY19).

The market share gain is primarily driven by the advantage derived in terms of individual agent hiring. To put things into perspective, the total number of agents for 24 multi-line general insurers (public sector plus private) at end-FY23 stood at 676,774 versus 1,158,676 for five SAHIs.

The number of products that SAHIs offer in health insurance is relatively higher than that of the private multi-line insurance players. Besides, with insurance brokers and corporate agents being allowed to have tie-ups with SAHIs, the agents choose to sell health insurance products of SAHIs and other general insurance products of multi-line players.

These advantages are structural in nature and are here to stay. Hence, we believe that SAHIs will continue to lead the retail health market for a longer period.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.