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Rising Demand to Assist Personal Accident Insurance in South Africa: Ken Research

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Personal Accident and Health Insurance in South Africa Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the South African personal accident and health insurance segment. – PowerPoint PPT presentation

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Title: Rising Demand to Assist Personal Accident Insurance in South Africa: Ken Research


1
Rising Demand to Assist Personal Accident
Insurance in South Africa Ken Research
2
A health insurance policy basically covers all
essential health care like- all injuries,
accidents weather they occur in workplace, while
travelling or at home. Other benefits depend on
the type of health insurance policy one takes.
Also premium services and benefits are provided
if paid more for services.
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  • Due to rises in medical costs day by day, people
    go for health and personal accident insurance
    policy and many companies provide innovative and
    diverse schemes that are affordable enough by the
    people. Some people take a limited coverage for
    major and serious conditions that may happen in
    future. Some insurance policy covers a major
    percentage of the claim and the remaining is paid
    by the consumer or policyholder.
  • Discovery Health has prolonged to be the largest
    medical insurer in South Africa with about 1.5
    million members. It is very competitive for other
    players in the industry of personal accident and
    health insurance in South Africa.
  • According to the report, Personal Accident and
    Health Insurance in South Africa, Key Trends and
    Opportunities to 2020, South Africa healthcare
    industry is significantly impacted by the
    accident and health

4
  • insurance sector. In terms of total written
    premium, the personal accident and health
    insurance is a small segment in whole insurance
    industry of South Africa and NHI will
    considerably enlarge the segment.
  • In 2014, with 90 insurers, the personal accident
    and health segment was seen to be overcrowded.
    Guard risk Insurance Company, Rand mutual
    Assurance Company Limited, Monarch Insurance
    Company Limited, Constantia insurance Company
    Limited and Holland Insurance Company Limited had
    been the top 5 companies which dealt with
    personal accident and health insurance in South
    Africa.
  • In 2015, the segment of personal accident and
    health insurance has been observed to account for
    about 4 in insurance gross written premium in
    South Africa. The personal accident and health
    insurance

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leading distribution channel in South Africa are
the brokers. They have been the bridge between
the final consumer and the insurance company.
They play a vital role which helps both the party
and in return brokers get commission. Before
informing consumer about the insurance policy,
broker needs to be fully educated regarding the
policy and they need to keep themselves up to
date. In 2015, the five leading companies of
personal and health insurance segment in South
Africa accounted for about 70.3 total gross.
In insurance industry of South Africa, personal
accident and health insurance will remain and
important driver as the non-insured population
are insured with the launch of HIV/AIDS insurance
which covers health insurance as well as life
insurance companies.
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  • The health insurance segment category has been
    the largest contributor of insurance industry and
    will continue to remain at top because of its
    excessive demand. Many people in South Africa
    have at least health insurance since every person
    suffers from some health problems in their old
    age health insurance thus becomes a supportive
    hand at the crucial time.
  • Key Topics Covered in the Report
  • South Africa Personal Accident Insurance Market
    Research Report
  • South Africa Health Insurance Industry Analysis
  • South Africa Health and Life Insurance Market
    Demand
  • South Africa Personal Accident Insurance Policy
    Developments
  • South Africa Insurance Sector Growth
    Opportunities
  • Global Personal Accident and Health Insurance
    Industry Research
  • South Africa Personal Accident Cover and
    Insurance Market Size
  • South Africa Health Insurance Upcoming Trends

7
  • South Africa Non-Life Insurance Sector Growth
    Potential
  • South Africa Life Insurance Industry Future
    Outlook
  • South Africa General Insurance Industry
  • To know more about the research report
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/insurance/personal-accident-hea
    lth-insurance-south-africa-key-trends/111701-93.ht
    ml
  • Related reports
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/insurance/governance-risk-qatar
    i-insurance-industry/3444-93.html
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/insurance/governance-risk-burun
    dian-insurance-industry/3899-93.html

8
Contact Ken Research Ankur Gupta, Head
Marketing Communications query_at_kenresearch.com
91-124-4230204
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