Aditya Birla Health Insurance Report Unveils India’s New Health Normal
· 85% of the population prefer cutting down on some luxury items and spend more on health insurance
· 89% of the respondents believe that mental health consulting should be included in their health insurance
· 35% believed that people were hesitant of reaching out to mental health experts because of the cost implication
· 84% of people believe their awareness of health and wellness-related issues has increased post-COVID
· More than half of the respondents (52%) in our survey claim to have set aside money to use in case of medical emergencies.
· Nearly one in every three respondents (32%) admit that they do not monitor health stats regularly, such as weight and blood pressure
Bangalore, February 10, 2023: Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), a significant non-bank financial services conglomerate, 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% 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, Mr. 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%) searched and watched online fitness videos whereas 69% 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%) 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% of respondents said that they have estimated the requirement and planned for such emergencies. Whereas 78.5 % of Indians believe that are actively seeking an employer that insures their family’s medical expenses.
“As a brand, we, at Aditya Birla Health Insurance, believe in the concept of ‘HealthFirst’. We want our offerings to be aligned with the same idea as we constantly invest in the innovation and designing of new products which are backed by cutting-edge technologies. Our aim is to reward our customers for practicing a healthy lifestyle and drive them to remain vigilant about their health,” Mr. Mayank Bathwal said.
The Covid-19 pandemic has brought about a drastic change in nearly every aspect of consumer behaviour. ABHI New Health Normal Report shows an evident behaviour transformation in the way Indians look at health and wellness. Consumers are more cautious about their overall health and more prepared for financial emergencies.