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

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

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• 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

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• 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

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