Increasing demand for affordable health insurance among women

A survey has revealed that there is a n increasing demand for low-cost health insurance plans among women across India, demonstrating a growing focus on financial security and health awareness.

The new survey by digital insurance aggregator RenewBuy highlights the increasing role women play in prioritising their health and financial well-being. The survey, analysing RenewBuy’s proprietary low-cost health insurance plan, RB Health, reveals that women make up a significant 30% of policyholders. This underscores a growing trend of women taking charge of their health and finances, particularly in smaller markets.

The survey, conducted across a sample representing 1.5% of RenewBuy’s total 5.5m policyholders, demonstrates a strong demand for accessible and budget-friendly health insurance, especially beyond Tier 1 cities. Women, driven by increasing financial independence and a greater awareness of health issues, are leading this charge. Notably, the strongest adoption is seen among women aged 31-40, a demographic often juggling career and family responsibilities. This highlights the importance of affordable health insurance options tailored to their specific needs. RenewBuy has also observed a 10-12% y-o-y growth in women policyholders.

RenewBuy co-founder Indraneel Chatterjee said that these findings offer valuable insights to enhance consumer experience and accelerate growth for low-cost insurance in the untapped markets. “The rapid success of this low-cost product has been driven by digital adoption, transparency, and the seamless policy purchase experience,” he said.

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