BENGALURU: As of September, Covid now forms 40% of total health claims for the general insurance industry. It has been steadily increasing from 8% in May to 23% in July to 34% in August — as cases rise and reliance on private healthcare increases.
“This is scary — Covid claims now nearly form half of total health industry claims. And one must remember that non-Covid claims have also been increasing. In March and April when the lockdown was severely enforced, we saw people postponing planned surgeries like a cataract operation or knee-cap surgery. But in September, non-Covid claims had risen because of the pile-up; caused by people postponing necessary treatment in the first half of the lockdown,” says Amit Chhabra, business head – health, Policybazaar.com.
Analysts also worry rising Covid claims could put more pressure on the books of insurers, particularly the three PSUs.