3.1.

7 HEALTH INSURANCE PRODUCTS TYPE OF CONTRACT

Out of the 14 currently available health insurance products, 8 have been designed and are restricted to
groups.

Figure N0 8: Health insurance products: Type of contract

0
Groups Individuals

3.1.8 HEALTH INSURANCE PRODUCTS TYPE OF BENEFITS

Out of the total of 14 health insurance products, 9 products propose the reimbursement of hospitalisation
expenses while the other 5 have chosen to narrow down the coverage to some specific critical illnesses
(6 to 10).

Figure N0 9: Health insurance products: Type of benefits

10
8
6
4
2
0
Hospital.Exp. Critical Illn.

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3.1.9 HEALTH INSURANCE PRODUCTS LEVEL OF EXCLUSION

Most of the health insurance products specifically exclude deliveries and other pregnancy-related
illnesses. Most of these products also mention amongst their exclusion clauses: HIV/AIDS.

Figure N0 10: Health insurance products: Level of Exclusion of Maternity Protection

Maternity
Protection MP included

Products: 2

MP excluded

3.2 THE COMPANIES

3.2.1 PRODUCT DISTRIBUTION PUBLIC / PRIVATE COMPANIES

Private insurance companies have already succeeded in providing three times more products than the
public companies. Taking into account the various products mentioned as being planned, under
preparation, or waiting to be approved by IRDA, this gap should further widen in the near future.

Figure N0 11: Product distribution: Public/Private companies

Number of
Public I.C0 products:

Public ICo: 21
Private I.Co: 62

Private I.C0

17
3.2.2 PRODUCT DISTRIBUTION LIFE / NON-LIFE COMPANIES

The two sectors currently offer almost the same number of products. 42 products proposed by life
insurers, against 41 proposed by non-life insurers.

Figure N0 12: Product distribution: Life/Non-life companies

Non-Life Pr.

Life Prod.

3.2.3 RANGE OF PRODUCTS PROVIDED BY INSURANCE COMPANIES

The range of products proposed by the various companies is very wide, from one to 12 products. The
public companies still range in the top segment, but some private companies are already bridging the gap
after being entered the market no more than two years ago.

Figure N0 13: Range of products provided by insurance companies

0
1 prod. 2 prod. 3 prod. 4 prod. 5 prod. 6 prod. 7 prod. 8 prod. 9 prod. 12 prod.

18
3.2.4 RURAL SECTOR COVERAGE PUBLIC / PRIVATE INSURANCE COMPANIES

Based on the statistics provided by IRDA, the public insurance companies still play a predominant role in
the present coverage of the rural sector. In 2002 2003, 13 million new policies have been sold
compared to the 653.000 new policies sold by the private companies.

Figure N0 14: Rural sector coverage: Public / Private insurance companies (Source : IRDA)

Number of
new rural
policies :
15000
Public Co :
13.243.000 10000
Private Co:
653.000
5000

0
Public Private

3.2.5 RURAL SECTOR COVERAGE LIFE / NON LIFE INSURANCE COMPANIES

Based on the same statistics, the number of new rural policies sold by the non-life insurance companies
is already twice higher than the policies sold by life insurance companies.

Figure N0 15: Rural sector coverage: Life / Non-life insurance companies (Source: IRDA)

Number of
new rural
10 policies:
8 Life:
6 4.655.000
Non-life:
4 9.223.000
2

0
Life Non-life

19