Corporate Health Insurance Trends: Study Reveals Surging Benefits

• 19 Apr 2024

In April 2024, a Study by Plum Insurance shows 66% rise in median sum insured for group health policies.

Key Points

• Increased Sum Insured: Median sum insured in corporate group health policies rises by 66% from Rs 3 lakh to Rs 5 lakh.
• Flexible Benefits Adoption: Adoption of flexible benefits programs doubles, offering personalized insurance options for employees.
• Maternity Benefits Offered: 15% increase in companies offering maternity benefits, showcasing a growing emphasis on employee wellbeing.
• Surge in Comprehensive Healthcare: 110% increase in companies offering comprehensive healthcare, including preventive and primary care services.
• Importance of Quality Benefits: 76% of employees consider the quality of benefits when deciding to stay or leave a company, emphasizing the role of modern benefits in employee retention.
• Trends in Additional Coverage: Growing adoption of accident, disability, and term life insurance among companies, particularly in startups and unicorns, showcases a commitment to employee wellbeing.