STANDALONE HEALTH INSURANCE COMPANIES (SAHI) IN INDIA THE GAME CHANGER IN HEALTH INSURANCE

Health Insurance business in India has witnessed a steady growth since 2013-14 with an annual average growth rate of around 20 percent. It indicates the role and relevance of prevailing marketing practices though a long way to go. Hence, it becomes essential to present and analyze the performance of health insurance business in India since the inception of First ever specialist health insurance company; Star health in the year 2006-07 followed by 06 more health insurers till date. The primary objective of the study is to evaluate the role and contribution of Standalone Health Insurance (SAHI) Companies in India in promoting health insurance services. This study is exclusively made on the basis of secondary data collected from different sources mostly from various reports issued by IRDA from time to time. This study is exclusively made on the basis of secondary data collected from different sources mostly from various reports issued by IRDA from time to time. Growth rate, amount of premium collection, number of policies issues, lives covered, agents recruited, offices established and a good percentage of incurred claim ratio are the key indicators witnessed the growth of a SAHI in the insurance market. On the basis of all these observation, it would not be wrong to consider SAHI companies as the “Game Changer” in the field of health insurance.