The global health insurance market is projected to expand at a CAGR of 6.90% during the forecast period (2021-2026). With the escalating costs of healthcare services and the rising prevalence of diabetes, cancer and kidney failure, there is an increase in the demand for health insurance across the globe. This, in confluence with the growing integration of health insurance with Big Data analytics, is offering lucrative opportunities to major companies operating in the industry. It is assisting them in diversifying their models and strategies to recognize and cater to the ever-evolving consumer demand. Apart from this, numerous health insurance companies are offering coverage for domiciliary treatment, wherein medical supervision is offered at home for specific diseases.
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The increasing costs of healthcare services, in confluence with the growing prevalence of diabetes, cancer, stroke and kidney failure, represent one of the key factors escalating the demand for health insurance worldwide. Moreover, governing agencies of several countries are making it necessary for employers to provide health insurance to their employees. These agencies are also enforcing laws that mandate international health insurance for tourists.
Top 10 Players in the Global Health Insurance Industry
- CVS Health Corporation
- AIA Group Limited
- Allianz Group
- Aviva Plc
- Berkshire Hathaway Inc.
- Cigna Corporation
- Sirius International Insurance Group Ltd.
- Prudential PLC
- UnitedHealth Group
- Zurich Insurance Company Ltd.
Suggested reading: How Are Health Insurance Providers Operating Post COVID-19 Outbreak?
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