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The Insurance Information Bureau (IIB) said that in 2009-10, the claims that are paid by the insurance companies rose more than 82% to Rs 7,456 crore against Rs 4,087 crore in 2008-09 since the number of policy holders rose to 68,84,687 in 2009-10 against 45,75,725 in 2008-09 as several Indians opted for health insurance policies.

Meanwhile, the health insurance sector is ready to witness higher competition as the health insurance portability is all set to be launched from July 1, 2011.

As per the norms that were issued by the Insurance Regulatory and Development Authority (Irda) for the health insurance portability, the policy holders can change their service providers without having to compromise on the terms of the policy.

Moreover, in 2009-10, the premium collection by insurers also rose to Rs 7,803 crore against Rs 3,976 crore in 2008-09. In 2009-10, around 8,16,793 policy holders between 41-60 years claimed insurance and was followed by 7,87,621 persons between 26-40 years while parents of children below the age of 1 year made 4,87,288 claims. The firms paid Rs 1,713 crore towards this.

In addition, the people who are suffering from circulatory, digestive, urology, eye and infection problems emerged as the topper in the list of health insurance claimants with a total of 32,63,597 insurance claims. 

IIB said that the data is based on information received from third party administrators (TPAs) and insurers. 

Star Health & Allied Insurance, Apollo MUNICH and Max BUPA and a several other players which include National Insurance Company, United India and Oriental Insurance and ICICI Lombard are active in this field. 

Know more about Health Insurance Policy in India.