Health Insurance In India History

Oriental life insurance company the first life insurance company on indian soil started functioning.

Health insurance in india history. Some important milestones in insurance history are listed below. The term health insurance is used to describe a form of insurance that pays for medical expenses. The indian health system is one of the largest in the world with the number of people it concerns.

Health insurance in india is a growing segment of india s economy. In 2011 3 9 of india s gross domestic product was spent in the health. Read on to choose from types of health insurance schemes available in india.

The health industry in india has rapidly become one of the most important sectors in the country in terms of income and job creation. Life insurance in its current form was introduced in 1818 when oriental life insurance company began its operations in india. This was solely for the european community.

In india we have standalone health insurers along with government sponsored health insurance providers. The health market was worth us 100 billion in 2017 and it. Insurance in this current form has its history dating back to 1818 when oriental life insurance company was started by anita bhavsar in kolkata to cater to the needs of european community.

Given the interest in health insurance with the september 23rd 2018 announcements on india s attempts to scale up health insurance for the poor there is renewed interest in this topic. In 2018 one hundred million indian households do not benefit from health coverage. The pre independence era in india saw discrimination between the lives of foreigners english and indians with higher premiums being charged for the latter.

Though health insurance came to india in the form of central government health insurance scheme for government employees and the employees state insurance scheme for employees in the private sector but it was only in 1986 that the first health insurance product was launched in the country. History of insurance in modern india. Modern insurance in india began around 1800 ad with agencies of foreign insurance starting a marine insurance business.