COVID pandemic offers health insurers a much broader and long-term opportunity, but will they raise the premiums?

COVID-induced pandemic changed the world in more ways than one. As people came in terms with one of the biggest health disasters that the humanity has ever faced, it made them to think if their health insurance was enough to meet unforeseen challenges.

With the rapid spread of the latest Omicron subvariant of COVID-19 in some countries, it's again pertinent to see if the same will aggravate health insurance penetration in India.

As we understand, pandemic in India brought about the much desired perception change on health insurance as a need based security to manage any unforeseen hospitalization which could otherwise wipe of savings and even push individuals towards a credit support to manage expenses. This will further be accelerated, said Amjad Khan, Director Employee Benefit practice and International business at Anand Rathi Insurance Brokers Pvt. Ltd.