Hyderabad, the fifth largest city in India, has seen an increase in health insurance coverage in recent times. The city is home to many of India’s leading medical and healthcare institutions, and the rising demand for health insurance has led to an increase in the number of insurance companies offering coverage in the city.
According to a report from the Insurance Regulatory and Development Authority of India (IRDAI), the number of health insurance policies issued in Hyderabad has gone up by over 10 percent in the last three years. The report states that the number of policies issued in the city increased from 1.36 million in 2017 to 1.52 million in 2020.
The rise in health insurance coverage in Hyderabad is attributed to several factors. First, the city’s growing population has led to an increased demand for health insurance. Second, the city’s high cost of living and medical care have made health insurance coverage a necessity for many. Finally, the increasing awareness among the people of the city about the importance of health insurance has also contributed to the rise in health insurance coverage.
The growth of health insurance coverage in Hyderabad has been a boon for the city’s healthcare industry. With more people having access to health insurance, hospitals and healthcare providers have seen an increase in their patient volume. This, in turn, has resulted in an increase in the number of jobs in the healthcare sector and better healthcare services for the people of Hyderabad.
The increase in health insurance coverage in Hyderabad is a positive development and will benefit the citizens of the city in the long run. It is hoped that the trend will continue and that the city will continue to see an increase in the number of health insurance policies issued in the coming years.