Why become a health insurance agent in India?

 Despite its large geographic area and teaming population, the health insurance coverage in India is at a nascent stage. Less than 15 percent of the total population of the same is covered by insurance. 

On the other hand, motor insurance in the nation is growing exponentially. The same has contributed to a high CAGR due to the growing popularity of cab services in the nation. The same is favored by a government policy that mandates compulsory vehicle insurance for those running in public places. If the report of the BlueWave consulting group is noted, then it is revealed that the vehicle insurance market is expected to grow at a CAGR of 8 percent for 2022 and 2028.

Why choose insurance as a career?

India's insurance penetration is dismal at 4.2 percent as of FY 2021. The penetration of life insurance policy India is a mere 3.2%. Further, the lion's share of these covers merely the public sector employees.

India's insurance sector needs young people to drive awareness and understanding of insurance coverage benefits. With 40-50 million people on medications for major sickness and public financing for the healthcare sector at a sheer 1 percent of GDP, become a health insurance agent is much more than a career. It is a step towards social growth and attention.

The sector is lucrative and untapped. The growth opportunities are limitless.

The winds of change are here 

With the rise in the middle class, growing awareness regarding healthcare, higher hospitalization, increasing hospital and medication costs, expensive aftercare, digitization, increase in awareness levels, etc. Moreover, since the insurance coverage deals with skyrocketing hospitalization costs, the demand to save on this exorbitant cost is critical.

Thus, pushing health insurance in India has become easy compared to previous years. Similarly, with the rising number of youth seeking such services, marketing health insurance has never been easy and lucrative.