New Delhi, March 26 -- India's health insurance sector witnessed a robust growth rate of around 9 percent with total health insurance premiums volume exceeding Rs 1.2 lakh crore in 2024-25, said a Ministry of Finance statement on Thursday here.
This monumental growth shows increased public awareness, improved access to healthcare financing, and rising demand for financial protection against medical expenses.
To further strengthen efficiency and timely support to policymakers, the Insurance Regulatory and Development Authority of India (IRDAI) prescribed two-tier timelines for processing of cashless health insurance claims: (i) Cashless pre-authorisation (within one hour) (ii) Final authorisation (within three hours).
According to governm...