Wednesday, December 30, 2020

COVID Impact On Global Health Insurance Market 2020-2025

COVID Impact On Global Health Insurance Market 2020-2025
The Covid-19 has induced uncertainty into the healthcare industry that it has become so much difficult to predict that whether the medical cost trends would be higher or lower in 2021.In case of employers providing health insurance to their employees have reported about 3%-4.5% increase in insurance premiums for the year 2021 from major insurers but they also worry that delayed care would lead to acute medical claims next year.

  • The market is expected to witness an exponential growth in the Asia-Pacific region due to factors such as increasing population especially middle-class, inclination towards better health care facilities and increase in the per-capita income of people in this region.

  • Advancement in technologies such as Artificial Intelligence, Data science and connected devices has accelerated a shift in the industry and is enabling insures to provide better services to their customers.

  • According to WHO estimates, life expectancy at birth rate was 72 years in 2016, 5.5  years increase as compared to 2000.Life expectancy have also increased due to the availability of better health-care facilities across the world.

  • The top health care providers are already beginning to make use of advanced technology such as Artificial Intelligence, Machine Learning  in order to assist their customers with making decisions while  about purchasing various healthcare policies.




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  • One of the major limitation that the health insurance industry suffers from is lack of transparency which is critical for building customer trust. However, in most of  scenarios, customers are unable to obtain a detailed plan about their insurance policy and whether a particular test is covered or not leading to weak brand loyalty

  • The health insurance industry needs to adopt an efficient and digitally integrated ecosystem that would enable them to provide a seamless and simplified customer experience enabling them to survive in the short term and thrive in the long run.

  • The insurance industry in general involves players whose products are similar to one another and price is the pivot around which the entire competition takes place. 

 

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COMPANY PROFILES

  •  AXA, Allianz

  •  Aviva

  • United Healthcare

  • Zurich Insurance Group 

  • AIA Insurance 

  • the Aetna Foundation

  • Blue Cross Blue Shield 

 

THIS HEALTH INSURANCE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

  1. Health Insurance Market size and Forecast (Subscribers and $Million), by region, by application
  2. Average B-2-B price for Health Insurance Market, by region, per user
  3. Technology trends and related opportunity for new Health Insurance Market tech suppliers
  4. Market share of leading vendors, by region,
  5. Coronavirus impact on Health Insurance Market earnings

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Country: India
Website: https://mobilityforesights.com/

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