Global Hospital Daily Cash Benefit Insurance Market Trends And Strategies Of Major Players In The Hospital Daily Cash Benefit Insurance Market 2021-2030
12 Nov, 2021
The hospital daily cash benefit insurance market consists of sales of hospital daily cash benefit insurance by entities that are engaged in directly underwriting daily hospital cash plans that provide a lump sum amount in case of hospitalization and this amount can be used as per the liberty of the insured.
Global Hospital Daily Cash Benefit Insurance Market Size And Drivers:
The global hospital daily cash benefit insurance market is expected to grow from $34.68 billion in 2020 to $35.26 billion in 2021 at a compound annual growth rate (CAGR) of 1.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The hospital daily cash benefit insurance market is expected to reach $59.79 billion in 2025 at a CAGR of 14.1%. Rising out of the pocket health care expenditure is expected to drive the hospital's daily cash benefit insurance market.
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Trends In The Global Hospital Daily Cash Benefit Insurance Market
Companies are collaborating with the digital payment platforms for providing hospital daily cash benefits to provide a simple and hassle-free claim process to policyholders for faster reimbursement. For instance, in July 2020, ICICI Lombard partnered with Phone Pe for offering hospital daily cash benefits to phone pe users. Similarly, in October 2019, Religare Partnered with Ola and started the OlaMoney-Religare Hospicash Policy which offers the policyholder to avail the compensation of $70 per day of hospital cash for plans above $7000.
Global Hospital Daily Cash Benefit Insurance Market Segments:
The global hospital daily cash benefit insurance market is further segmented –
By Type Of Plan: Rider, Standalone Cover, Part Of Health Insurance
By Term Of Coverage: Lifetime Coverage, Term Insurance
By Benefit: Emergency Admission, Accident, Medical Treatment, Surgery
By Service Provider: Public, Private
By Geography: The global hospital daily cash benefit insurance market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/hospital-daily-cash-benefit-insurance-global-market-reportHospital Daily Cash Benefit Insurance Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hospital daily cash benefit insurance market overviews, analyzes and forecasts market size and growth for the global hospital daily cash benefit insurance market, hospital daily cash benefit insurance market share, hospital daily cash benefit insurance market players, hospital daily cash benefit insurance market segments and geographies, hospital daily cash benefit insurance market’s leading competitors’ revenues, profiles and market shares. The hospital daily cash benefit insurance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.