The health insurance sector grew 9% in FY25, with premiums exceeding ₹1.2 lakh crore, driven by increased awareness and demand for medical expense coverage.
IRDAI has mandated cashless claim authorization timelines of 1 hour for pre-authorization and 3 hours for final authorization to expedite settlements.
The claims paid ratio improved to 87.5% in FY25, with 93% of insurance grievances resolved within the same financial year.