A report by Policybazaar for Business reveals that the 25-35 age group in India is filing the highest insurance claims, with maternity coverage being a significant contributor. Women account for 60% of claims, while men contribute 40%. Rising healthcare costs and corporate health benefits are driving this trend.
A recent report by Policybazaar for Business has revealed that individuals aged 25-35 are making the highest number of health insurance claims in India. The report highlights that maternity coverage is a major driver of these claims, with women accounting for 60% and men making up 40% of total claims.
Policybazaar, India’s leading online insurance aggregator, provides comparisons and services for health, life, and motor insurance. The company analyzed its internal data to identify trends in corporate insurance claims.
Maternity Coverage a Key Factor
According to the report, maternity-related expenses form a significant portion of insurance claims filed by the 25-35 age group. This trend aligns with the growing number of companies offering enhanced health benefits to employees, especially in industries with a young workforce.
The evolving trends in group health insurance claims highlight the rising cost of medical care and the need for efficient claim processing.”
Sajja Praveen Chowdary, Director at Policybazaar
Rising Healthcare Costs Impacting Claims
The report also pointed out that increasing healthcare costs, particularly in private hospitals, have contributed to the surge in insurance claims. Expensive medical procedures and inflation in healthcare services are pushing individuals to rely more on their insurance coverage.
Corporate Health Plans Adapting
As a response to these trends, companies operating in Tier 1 cities are opting for higher insurance coverage for their employees. Many businesses are customizing their group health insurance policies to offer better benefits, ensuring coverage aligns with the healthcare needs of their young workforce.
With the demand for comprehensive health coverage rising, insurers are expected to introduce more tailored plans catering to this growing segment.
