Empower my brand
Empower my brand

Summary of Insights

The buzz around insurance was dominated by the launch of the public insurance policy by the Government of India, i.e., Ayushman Bharat, the equivalent of Obamacare in the USA. The launch coincided with several policymakers and influencers expressing their opinion on this policy. The response has been mixed, but overall positive.

Within life, health and auto insurance, health insurance related discussions were the most frequent, driven in part by the announcement of the Ayushman Bharat scheme. Delhi NCR region saw the highest buzz followed by the Mumbai region. The volume of buzz in Delhi NCR was almost twice that in Mumbai.

A low net promoter score (NPS) marked the insurance industry as indicated from the buzz from the period July through September 2018. This should be a cause of concern for all industry participants. High premiums, denial or rejection of claims are the cause of the consumer anguish. Some industry participants such as HDFC and Religare had an overall negative NPS which is particularly worrisome.

Important initiatives and launches, for example, the announcement by ICICI Lombard using AI, Apollo Munich’s new product announcement related to a cancer-specific product and TTK’s replacement by Manipal in the health insurance JV with Cigna in India were important themes in the quarter.

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