Kathmandu. Swiss Riley expects asia’s health and mortality safety gap to reach $390 billion overall in 2024. This reflects low insurance coverage across the Asian region.
According to the Switch Rica report, the health safety gap (HPG) has increased by 21 percent since 2017 to $258 billion, mainly due to rising medical costs and the elderly population. China leads the chart with hpg of $143 billion. It is followed by India (Rs 432 billion) and Japan (Rs 424 billion).
The death protection gap (MPG) has reached $132 billion. It has increased by 35 percent since June 2017. More than 80 per cent of this gap comes from emerging markets. Where insurance coverage has not kept pace with income growth.
The Swiss RICO survey found strong demand for life and health insurance from more than 12,000 consumers in 12 markets, especially in emerging Asia. In most markets, the cost of treating chronic and serious illnesses has led to financial stress from khalti’s healthcare costs. Barriers to insurance adoption include pricing concerns, limited understanding, and economic uncertainty.
Swiss Relay recommends including value-added services such as life and health products and preventive care to help bridge this gap.
