A Study towards the Awareness and Impact of Covid-19 on Health Insurance Sector in India

Health is a basic necessity of the human beings. The middle socio-economic group do have some access to the insurance plans; however, this does not hold true to the residents of India who are suffering from poverty. During pandemic the lack of health insurance facilities have compounded the existing problem. India is a long way from providing equal healthcare services to all its citizens even though it is their basic right. Like other industries Health Insurance Industry is also affected by the COVID-19 pandemic. Many private players are giving life as well as non-life insurance cover to the citizens through a multitude of their products. They are innovating the products in such a way that they are able to fulfill the needs of majority of population. The premise of this paper is to study the impact of COVID-19 on Health Insurance sector and to understand how this industry adopted new ways and introduced new products during the pandemic which has led to increasing sales and awareness among masses. The current situation of the healthcare industry has also analyzed using primary and secondary data obtained from various sources.

Keywords:- Covid-19,Health Insurance, IRDAI,Pandemic.