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.
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.
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.
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.
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