The report shows that health insurance awareness has increased in the past few years and more people are investing in health insurance with each passing year
Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL) unveiled The New Health Normal report. As a key player in the health ecosystem in India, ABHICL undertook the survey, designed to identify the key changes in consumer behavior from a health perspective. This research was conducted with 6600 respondents across 19 key cities covering the length and breadth of India.
The rise in uncertainty and anxiety that came hand in hand with COVID-19 has brought a strong focus on the issue of mental health. The report shows that two out of three respondents still feel hesitant in reaching out to an expert to talk about their mental health because of cost implication and society’s perception whereas 89 per cent of the respondents believe that mental health consultation should be included in their health insurance. Hence, there is an urgent need to increase awareness on mental health. The insurance sector is now getting actively involved as the scale of mental health issues in the ‘New Normal’ has never been bigger.
Speaking on the findings of the research, Mayank Bathwal, CEO, Aditya Birla Health Insurance, said, “Due to the pandemic, in the ‘New Health Normal’, people are realising the importance of a health-focused lifestyle and are actively seeking avenues that can support this healthy lifestyle – both online and offline. It has impacted their behavior as well in many ways – the technology they use, how closely they monitor their diet, do they exercise regularly etc. However, as ever, adopting a new habit is a challenge for most, and the need of the hour is to motivate and encourage people to complete the last mile in their health journey.”
The survey findings further attempt to decode people’s view towards exercising. It shows that more than half of our respondents (50 per cent) searched and watched online fitness videos whereas 69 per cent of the respondents use wearables to check their health stats and to track their targeted number of steps. However, nearly one in every three respondents (32 per cent) admit that they do not monitor health stats regularly, such as weight and blood pressure. Another interesting revelation was the attention among people toward financial preparedness. The pandemic has certainly changed the outlook toward financial readiness among people, especially regarding medical urgency.
Health insurance awareness has increased in the past few years and more people are investing in health insurance with each passing year. Around 52 per cent of respondents said that they have estimated the requirement and planned for such emergencies. Whereas 78.5 per cent of Indians believe that are actively seeking an employer that insures their family’s medical expenses.