Low insurance take-up should cap insured losses, but the event may add scrutiny to the net retention strategy cedents have pursued in response to rising reinsurance costs.
Persistent underwriting losses and high distribution costs weigh on India’s general insurers, with direct models and customer ownership seen as key to improving economics.
The insurer says much of the impact will fall on households, with unpaid care projected at 123 million hours and 42% of treatment costs paid out of pocket by 2030.
