Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Insurance / News/  Cancer and cardiovascular diseases top global claims frequency; respiratory disease ranks third: Report
BackBack

Cancer and cardiovascular diseases top global claims frequency; respiratory disease ranks third: Report

Employer-sponsored health insurance costs in India are expected to rise by 11% in 2024, marking a return to pre-pandemic levels.

Cancer and cardiovascular diseases are the top causes of the claims frequency, says reportPremium
Cancer and cardiovascular diseases are the top causes of the claims frequency, says report

Cancer and cardiovascular diseases are the top causes of the claims frequency around the world, and respiratory disease is the third highest after cancer, according to Mercer Marsh Benefits’ Mercer Marsh Health Trends Report 2024.

As per the report, several insurers are recogninsing the need for wider cancer support to reduce claim costs. 43% of insurance firms make cancer rehabilitation and return-to-work support globally.

1 in 3 Indians stressed, over 35% struggle with chronic illness, says report

Further, the report noted that employer-sponsored health insurance costs in India are expected to rise by 11% in 2024 – up from 9.6% in 2023 – marking a return to pre-pandemic levels.

High premiums prevent 3 out of 10 people from buying health insurance, survey

Transformational healthcare solutions such as digital outpatient services and virtual tools, including tele/video consultations with doctors, wearable devices, and remote patient monitoring have contributed to improved accessibility and affordability for both employees and organisations.

3 key approaches for establishing savvy personal financial planning

As many as 50% of insurers surveyed across Asia, including India, have been using teleconsultation tools to deliver greater programme efficiencies for their clients, the report added.

Further, 70% of insurers surveyed globally expect the future use of artificial intelligence for first-line diagnosis and/or navigation to have a transformative impact on employer-sponsored healthcare over the next five years.
How to enhance coverage affordability via insurance premium financing?

“By embracing outpatient primary healthcare and digital healthcare solutions, refreshing benefits strategies through flexible benefits programmes, and bridging coverage gaps, organisations in India can manage rising costs more effectively and pave the way for accessible and effective healthcare plans for all," Prawal Kalita, Employee Benefits Leader, Marsh India, said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 20 Dec 2023, 02:55 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App