Financing India's Healthcare needs - https://lnkd.in/fw2wtkz There is a need for a paradigm shift to making #healthcare more accessible and affordable. Hence, Govt. of India’s recognition and commitment towards universal health coverage through initiatives such as ‘Ayushman Bharat’ is encouraging. But with public healthcare spending at just 1.4% of GDP it is hard to see how universal health coverage could be achieved in any meaningful way in the medium term. Currently, private healthcare spending accounts for more than 70% of India’s overall health expenditure. Even if we increase our public spending to 2.5% of GDP, as envisioned, private spending will still constitute the lion’s share of the healthcare spending. With high out-of-pocket expenses, low #health #insurance penetration and high costs, financing India’s healthcare needs represents a significant opportunity for insurance companies & innovative #fintech #startups like  Affordplan . Gross Written Premiums of Non-Life Insurance segment, of which Health is the biggest contributor, has grown at a CAGR of 13% between 2013 and 2017 to INR 1,280 Billion. With India’s healthcare inflation at 15%, ~3X of Consumer Price Index (#CPI) inflation, this trend is only set to accelerate. …see more