Growing preference for customised health insurance: Survey

The majority of existing and potential health insurance customers in India consider personalization as a deciding factor, with 94 percent keen to incorporate features that match their specific needs and stage of life, according to a survey by Future Generali India Insurance Company.

In fact, customers do not mind spending extra money and time to get a customized insurance product. The report noted that demand for a structured, customized and convenient policy experience is growing, especially for renewals.

The report also showed that 94 percent of respondents did their own research before buying or renewing their health insurance policy. Two-thirds used online portals to compare products, while half sought advice from family, friends and peers before choosing a service provider and plan.

“As consumer demands evolve and mature, the need for convenient, easy-to-administer policies takes center stage. We have taken a step in this direction with the launch of our new health insurance product, DIY Health, which includes a more comprehensive basic plan complemented by a suite of modular covers, designed to give strength choice for our customers,” said Anoop Rao, Managing Director and CEO, Future Generali India Insurance Company Ltd.

The survey, conducted jointly with market research agency Unomer, surveyed more than 1,500 respondents aged 25-45, including self-employed and salaried professionals in 14 Indian cities (Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru). , Pune, Ahmedabad, Lucknow, Coimbatore, Jaipur, Visakhapatnam, Nagpur, and Kota).