India has a major share of the millennial demographic — 34% of the total population — to be precise. While this might be a significant percentage, before the pandemic struck, this consumer segment seldom considered having an adequate insurance policy.
The pandemic has brought about an irreversible revolution in the insurance industry, and also accelerated the awareness level, regardless of age.
The rise in health emergencies, transcending age groups, has sounded a caution alarm for youngsters to be prepared with a safety shield as well.
Fortunately, the insurance ecosystem is working in tandem with this transition to effectively cater to millennial needs with innovative health insurance products. More modular, more consumer-centric, here’s how health insurance products are evolving to suit millennials.