Abstract
Health insurance has become a necessity for every individual in India. It provides risk coverage against expenditure which is caused by unforeseen medical emergencies. Today, when the medical inflation rates are so high, failing to hold an adequate health cover can prove costly. However, the awareness about health insurance is on the rise
in urban India. There are total 24 companies providing health insurance in India. They provide health insurance products such as med claim, topup plans, hospital cash benefit, critical illness and accidental death and disability cover. The present paper focuses on health insurance business in India. It analyses the premium collected, the
number of policies issued, number of persons covered under various classes of health insurance business and net incurred claims ratio in health insurance industry by using the financial tools such as averages, ratios etc. the paper concludes that the public sector general insurance companies have larger market share in health insurance
premium, the number of persons covered and Net Incurred Claims ratios are higher in government sponsored health insurance schemes among the various classes of health insurance business in India.
Keywords: Premium, RSBY, Net ICR, Public Sector, Private Sector, Stand -alone Co
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