Latest news with #Indians
News18
2 hours ago
- Business
- News18
India's Insurance Penetration Below 5%: Perception, Not Price, Is The Hurdle, Say Experts
Not only does insurance penetration remain abysmally low in India, but also density too. India's insurance density—which reflects the average insurance premium paid per person—stood at USD 95 in 2023-24. In comparison, the global average insurance density was significantly higher at USD 889, with USD 361 from life insurance and USD 528 from non-life insurance Despite rapid digitisation and regulatory push, the overall penetration remains very low. On this National Insurance Awareness Day, experts from across the insurance ecosystem point to deeper roadblocks beyond just low awareness—ranging from affordability and access to trust deficits and product complexity. While the cost of insurance is often cited as a deterrent, industry leaders argue that the bigger challenge lies in how insurance is perceived. Many Indians continue to view insurance not as a risk buffer but as an investment or a tax-saving tool. 'Affordability is more of a perception issue than an actual financial hurdle," said Udayan Joshi, Chief Operating Officer at SBI General Insurance. 'The real need is for protection-oriented products at reasonable price points that people can relate to and see value in." Healthcare inflation further complicates this picture, argued Amitabh Jain, Chief Operating Officer of Star Health and Allied Insurance. Even though, he added, some health plans cost as little as Rs 13 a day, rising hospitalisation costs and fraud-related premiums add to the affordability anxiety. The average consumer remains unsure about the utility of buying insurance unless faced with a crisis. The Complexity Conundrum Even when consumers are ready to buy, they often find insurance policies hard to navigate. 'Lengthy policy documents, jargon, and technical terms deter many, especially in rural and semi-urban India," pointed out an insurance industry veteran. Saurabh VijayVergia, Founder and CEO of insurtech platform CoverSure added that insurance is still being 'sold as a one-time product", with minimal post-sale engagement. As a result, trust remains elusive. 'We need to move from policy selling to supporting people throughout their insurance journey—transparently and consistently." Can Micro Products Solve Macro Problems? Advertisement Sachet insurance and pay-as-you-use (PAYU) models have been seen as innovative ways to extend coverage to low-income and rural users. When done well, they are simple, affordable, and easily distributed through mobile wallets or mobility platforms. However, not everyone is convinced of their long-term value. Critics argue that these micro-covers sometimes offer the illusion of protection without truly addressing risk. 'Unless we shift the focus from affordability to adequacy, sachet insurance may remain a tick-box exercise, not a real safety net," noted VijayVergia. Still, when designed right and bundled with local services like agri-inputs or daily commute platforms, sachet insurance has the potential to bring first-time users into the fold. Narendra Bharindwal, President of the Insurance Brokers Association of India (IBAI), believes sachet insurance and usage-based models are promising—especially for Bharat (rural and low-income India). 'When bundled with mobile wallets or agri-tech platforms, these models can reach deep into underserved populations. But they must come with robust claims support and simple communication." Embedded Insurance: A Bridge with Conditions advetisement One solution gaining momentum is embedded insurance—cover that's built into consumer journeys like loan applications, e-commerce purchases, or travel bookings. 'Embedded insurance reduces decision fatigue. It meets people at the right moment, in a context they understand," noted Amitabh Jain. Travel insurance is already seeing success this way. But the success of embedded insurance hinges on clarity and usefulness, not upselling. Bharindwal warned that many consumers still ignore embedded insurance because they don't understand what's covered or how to make a claim. 'Transparency and education are vital. Without them, embedded insurance becomes just another passive feature." Where Do We Go From Here? If India is to close the insurance gap meaningfully, it must focus not just on selling more policies but on building trust, simplifying products, and integrating insurance meaningfully into people's lives.
Hindustan Times
2 hours ago
- Health
- Hindustan Times
Orthopedic surgeons explain how obesity is actually linked to increased risk of fractures
Does obesity influence fracture risk? In an interview with HT Lifestyle, Dr Rajesh Srinivas, consultant, orthopedic surgeon, Manipal Hospital Varthur Road and Dr Harekrushna Sahu, consultant, orthopedics and spine surgery, Manipal Hospital Bhubaneswar, spoke about the unexpected obesity and fracture link you might not have considered. Also read | Spine surgeon warns Indians not to ignore back pain until it's too late, reveals who all 'should be extra careful' Does being overweight make you more prone to some kinds of fractures? Here's what you need to know. (Freepik) According to them, maintaining a healthy lifestyle, eating well, and exercising regularly are essential for good bone health and effective weight management, and thereby reducing fracture risk and complications. Dr Srinivas said, 'Obesity and fracture risk have a complicated relationship. It was long believed that a person's bones would be stronger based on their body fat percentage. However, newer research shows that central obesity and abdominal obesity are linked to a higher risk of fractures. Other spinal disorders, like degenerative diseases of the spine and osteoarthritis of the knees and ankles, can worsen in obese individuals.' Dr Sahu added, 'Obesity, defined as a body mass index (BMI) of more than 30 kg/m2, has become more and more prevalent in the last few decades. Obese individuals usually have more fat distribution in the abdomen or waist area. Earlier it was thought that obese individuals have stronger bones due to more body weight and it is protective for some fractures like hip fracture due to cushioning effect of waist fat but recent research suggests that the relationship between obesity and fracture is not that much straight forward and may vary with regards to age, sex, ethnicity and for different fracture types.' Dr Srinivas further shared that 'more than 40 percent of adults worldwide are overweight or obese'. 'Unfortunately, obesity among children and middle-aged people is rising due to several problems, including metabolic disorders, mainly thyroid issues, growth hormone issues, etc.,' he said. Many obese individuals have body posturing and balancing issues, leading to a higher incidence of falls, which can cause fractures. (Freepik) Factors influencing fracture risk According to Dr Sahu, many studies have found that obese individuals are more prone to ankle and shoulder fractures as these areas lack the cushioning effect of body fat, and the higher body weight of obese individuals leads to higher impact on these areas during a fall. 'Many obese individuals have body posturing and balancing issues, leading to a higher incidence of falls, which can cause fractures,' he said. Dr Sahu shared that 'obese individuals usually have lower vitamin D levels in their bodies', which also impacts bone health and increases fracture risk. 'Spine fractures are also very common in many obese individuals, although some studies have contradictory results on this aspect. Many obese individuals have associated metabolic syndrome (diabetes, hypertension, hyperlipidemia), causing difficulty in the management and treatment of their fractures,' he said. Dr Sahu added, 'Recently, due to the increased prevalence of childhood obesity, there has also been an increased risk of some fractures in children. Obese adolescents are also at high risk of developing slipped capital femoral epiphysis, a condition causing the spontaneous slippage of the femoral head of the thigh bone.' The bones weaken rapidly after menopause, and obesity increases stress on them, leading to a higher risk of hip, spinal, and wrist fractures. (Freepik) Obesity and bone health in women Women, who face obesity after menopause, encounter significant challenges due to osteoporosis, according to Dr Srinivas. He said, 'The bones weaken rapidly after menopause, and obesity increases stress on them, leading to a higher risk of hip, spinal, and wrist fractures. Obesity not only raises the chances of fractures but also slows down recovery.' Dr Sahu said that obese post-menopausal women have also been associated with osteoporosis, defined as decreased bone mineral density, causing weak bones that easily fracture during a fall. Importance of lifestyle modifications Dr Srinivas said that efforts to combat obesity primarily focus on figuring out its causes, whether they are metabolic, genetic, or related to diet: 'We need to find the root cause and address it directly. Managing obesity requires teamwork. We also involve an endocrinologist to assess and address the issue. Our main goal is to prevent obesity, with lifestyle being the key factor.' According to the WHO, a person needs to walk briskly for 40 to 45 minutes to stay healthy. Dr Srinivas said, 'This is in addition to doing exercises or workouts like strength training. It's important to track calorie intake and calorie loss, as this provides a clear way to manage one's lifestyle. We should also understand lifestyle changes well. These changes mainly focus on keeping a daily exercise routine and eating a healthy diet.' Dr Sahu said fractures in obese individuals are challenging to treat surgically because of weak bones, more fat, and possible postoperative wound complications. 'Rehabilitation after surgically or conservatively treated fractures in obese individuals can also be problematic due to high body weight and balancing issues, sometimes leading to prolonged non-weight-bearing status and making them bedridden,' he said. 'There is always a high risk of fracture incidence in obese individuals, which is difficult to manage and rehabilitate, leading to poorer outcomes for many. So it's always better to prevent getting overweight or obese by regulating our food habits and doing regular exercise. Obese individuals should take adequate vitamin D supplements if they have lower levels and do regular exercise, and should be aware of fall prevention strategies to reduce the incidence of fractures in them,' he added. Obese individuals should take adequate vitamin D supplements if they have lower levels. (Freepik) Exercise recommendations for obese individuals Dr Srinivas said, 'If the patient is obese, we recommend avoiding activities that put a lot of stress on the body. For example, running or jumping adds significant pressure on the legs and spine. Until they lose weight, we suggest they avoid these activities and switch to low-impact options like cycling, swimming, and walking, which can be increased gradually.' For elderly patients who are somewhat obese, Dr Srinivas recommended using assistance when walking, such as a stick or a walker, to help prevent falls: 'At home, we suggest adding supports in necessary areas and using non-slip clothing, especially in the bathroom, to reduce the risk of falls.' Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.
Time of India
4 hours ago
- General
- Time of India
Right angled wrong
Bhopal sets a new standard for weird bridges Make sure it's at the right angle, architects to civil engineers to builders are wont to say. This provides safety and durability to so much construction. Like walls have to be at 90° to the floor. But throughout human history, roads have been different. They are curve-loving creatures. As are their cousins, from rail lines to bridges. So when a new bridge in the heart of Bhopal neared inauguration on June 15, and its 90° bend came to public light, it drew shocked gasps, angry questions, and fearful worries. But the numerous parties, public and private, involved in the bridge's making since its design was sanctioned in 2018, have a hardier constitution, evidently. They share it with all those who last year delivered to Mumbai a bridge with a 6-foot vertical gap with the adjacent flyover. Amul girl was left fretting, Pul ko push kaun karega? Who will make the connections? Govts are never as disconcerted as the public. They simply roll out more trucks of crores and concrete. Problem fixed. The Arkadiko stone bridge in Greece has survived since 1300 BC. Once it carried chariots, today it tolerates cars. Such enduring public infra Indians do not even dream of. We have also been conditioned not to expect Golden Gate like beauty. All we now ask for is basic functionality. Instead of Ripley's Believe It or Not horror stories. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Times of India.
India Gazette
5 hours ago
- Politics
- India Gazette
"Why Modi government has failed to take swift action to bring back our missing citizens from Russia?": Congress
New Delhi [India], June 28 (ANI): Congress on Friday demanded government reveal data on the number of Indian citizens stranded in Russia amid conflict with Ukraine in the region. Addressing a press conference at the AICC headquarters, Punjab Congress president Amarinder Singh Raja Warring claimed that 126 Indian citizens, including young men from Punjab, Uttar Pradesh, Jammu-Kashmir, and Maharashtra, were 'trafficked into the Russian Army to fight the war'. He said, among them, 'at least 14 remain missing.' 'These men were tempted by agents who promised them employment in Singapore, Malaysia, or Italy, but instead sent them to Russia, where they were handed rifles to fight after 15 days of training, pushing them into a brutal conflict, despite a few of them having physical disabilities,' he said. Warring said that their families have only received assurances from the government of India, and 'they were forced to find out the truth by themselves'. 'The Indian Embassy officials in Moscow didn't help him at all, they refused to provide even the address of the Russian External Ministry office,' he said. Warring claimed that agents charged around Rs 35 lakh for sending people to their preferred countries, but 'instead pushed them into Russia's war'. 'Despite multiple appeals to the Ministry of External Affairs, no concrete help has been extended,' he said, adding it raises serious questions. The Punjab Congress president asked, 'why the Modi government has failed to take swift action to bring back our missing citizens. Why was Russia allowed to recruit Indian civilians in its Army without due permission?' he asked, adding, 'Why have families not received official updates?' The senior Congress leader demanded updated information from the MEA on the status of all missing Indians in Russia. He also demanded action against agents who have already been named by the victims' families. (ANI)
Business Standard
6 hours ago
- Business
- Business Standard
Former Oura CEO, Harpreet Singh Rai, Joins Loop to Accelerate Preventive Health Innovation
NewsVoir Mumbai (Maharashtra) [India], June 27: Loop, the insurance and healthcare company on a mission to add 20 healthy years to the lives of working Indians, has announced that Harpreet Singh Rai, former CEO of health-tracking pioneer Oura and an early investor in Loop, has joined Loop as President, Healthcare. Harpreet brings a decade of experience in building and scaling preventive health solutions that merge science, data, and human behavior. As CEO of Oura from 2018 to 2021, he led the launch of the company's 2nd and 3rd generation rings, selling over 1 million units. In his new role, Harpreet will lead the development of Loop's healthcare products, working closely with Loop's medical, product, and engineering teams. His focus will be on creating seamless, engaging experiences that help people take charge of their health. "India's workforce loses 20 years compared to global peers; not because of destiny, but because our system profits from sickness rather than health. Harpreet has built consumer health products that people actually use and love. That's exactly the leadership we need to scale prevention beyond corporate walls," said Mayank Kale, Co-founder and CEO at Loop. Before Oura, Harpreet spent nine years as a technology portfolio manager at Eminence Capital, focusing on healthcare and technology investments. He began his career in Morgan Stanley's M & A group and holds a degree in electrical engineering from the University of Michigan. His rare blend of engineering, investing, and health leadership uniquely equips him to accelerate Loop's prevention-first approach. "Loop is building something fundamentally different--Mayank and the team have a unique lens to improve healthcare for India. I'm excited to help make healthcare more accessible, engaging, and measurable for millions of working Indians. This is how we add decades to lives--one person, one family, one company at a time," said Harpreet Singh Rai. Loop is on a mission to add 20 healthy years to the Indian workforce. By combining best-in-class insurance with unlimited primary care and data-led prevention, Loop empowers over 850,000 employees at 1,200+ companies to live longer, healthier lives. Backed by global investors including Y Combinator, Khosla Ventures, Elevation Capital, and General Catalyst, Loop is redefining corporate healthcare by making prevention profitable, outcomes measurable, and vibrant health possible for every team in India.
