Medi Assist not a mere proxy but a partner to the health insurance ecosystem: Chairman Vikram Chhatwal
India's underpenetrated health insurance market, currently at 16% with expectations to double by 2028, highlights substantial growth potential for the company
Medi Assist riding tailwinds of health insurance growth
Medi Assist earns 3-3.5% fees on the insurance premiums serviced by it. For FY23, the company earned nearly 75% of its revenues from group insurance schemes - the fastest growing segment in health insurance - and roughly 11% each from retail and government-sponsored schemes.
Group health policies lead the way as medical inflation, retail premiums bite
As per the 'Independent Market Assessment of Health Benefits Administrators in Indian Health Insurance Industry' report by Frost & Sullivan commissioned by Medi Assist, there has been a 31% jump in insurance penetration post-Covid aided by a significant jump in insurance penetration in group policies during the pandemic.