Almost all life insurers with health products continue to serve existing customers but are unable to introduce new products or promote existing products to new consumers.
MUMBAI: A senior executive of the top life insurer has stated that HDFC Life will reenter the health insurance market when allowed, but the company is not particularly interested in pursuing a composite insurance licence, for which the amendment bill is now awaiting approval from federal lawmakers.
It should be emphasized that up until 2016, life insurers belonged to the health sector, which has since surpassed the previously dominant category of motor to become the largest contributor to general insurers’ top line over the last two years. Nearly all life insurers with health products keep their current clientele but are unable to introduce new products or market their current portfolio to prospective buyers.
