A billion opportunities waiting in InsurTech

Credit: CBInsights

Feb 24

An industry seemingly untouched by innovation in India, health insurance is a space left wide open for the intrepid. Health insurance addresses a huge financial vulnerability, yet has a penetration of only 0.16% in India. Since privatization about a decade ago, the experience of buying health insurance has not gotten any easier or more interesting. Given that it makes sense to have a multi-payer model, why do most Indians still take the risk and incur enormous out-of-pocket expenses? Almost 70% of medical costs are still borne out of pocket. This gap...