Demand for OPD benefits on rise among health insurance policyholders

The demand for Out-Patient Department (OPD) benefits surged post-pandemic, with Policybazaar reporting a rise from 5% to 20% in FY24. Increased accessibility to consultations and diagnostics drove this trend. Siddharth Singhal of Policybazaar noted the pandemic accelerated teleconsultation demand and raised pharmacy and diagnostic costs. \r

Now, 50% of policyholders utilize OPD services. While OPD benefits were once employee-centric, retail demand rose post-pandemic. Bhaskar Nerurkar from Bajaj Allianz General cited 70% utilization in retail OPD products. Across tiers, Tier-1 cities lead in demand. \r

Rupinderjeet Singh of Acko General Insurance highlighted the need for expanding networks in smaller cities, foreseeing significant growth potential in OPD benefits, nearly 4 times that of In-Patient Department (IPD).