Emerging Trends Post COVID Era

Year 2020 will be remembered for one big thing - bringing everything to a screeching halt - be it health or economy. September 28, 2020 saw India with over 60 lakh COVID cases and about a lakh dead. While majority is recovering from the virus, fresh cases to the tune of 80,000 to 90,000 every day is indeed a thing to worry. Life, like time and tide, waits for none and it is back on track despite the virus spreading like a wildfire.  Being a health crisis it has managed to wake the insurance sector up with a jolt - witnessing a massive surge in the number of claims for COVID-19 treatment. According to ICICI Securities, just health insurers could end up receiving COVID-19-related claims worth more than Rs 10,000 crore in 2020. A recent survey by Max Bupa, shows 71 per cent of the people are considering health insurance as a “necessity” as against 10 per cent, before the...