Mexico Private Health Insurance Market - Industry Trends and Forecast to 2030

Mexico Private Health Insurance Market - Industry Trends and Forecast to 2030

Mexico Private Health Insurance Market, By Product Type (Mediclaim Insurance, Hospitalization Coverage Insurance, Critical Illness Insurance, Individual Coverage Insurance, Family Floater Coverage Insurance, Senior Citizen Coverage Insurance, Unit Linked Health Plans, Permanent Health Insurance, and Others), Business Solution (Lead Generation Solutions, Revenue Management and Billing Solutions, Robotic Process Automation, Insurance Cloud Solutions, Claims Administration Cloud Solutions, Value-Based Payments Solutions, Artificial Intelligence & Blockchain Solutions, Intelligent Case Management Solutions, and Others), Assistance/Service Type (Inpatient/Daycare, Hospital Accommodation, Medical Evacuation, Oncology, Rehabilitation Treatment, Palliative Care, Organ Transplant, Psychiatry and Psychotherapy, Laser Eye Treatment, Accidental Death Benefit, Maternity, Dental, Out-Patient, Repatriation Plan, and Others), Level Of Coverage (Bronze, Silver, Gold, and Platinum), Type Of Insurance Plans (Point Of Service (POS), Exclusive Provider Organization (EPOS), Indemnity Health Insurance, Health Savings Account (HSA), Qualified Small Employer Health Reimbursement Arrangements (QSEHRAS), Preferred Provider Organization (PPO), Health Maintenance Organization (HMO), and Others), Demographics (Adults, Minors, and Senior), Coverage Type (Lifetime Coverage and Term Coverage), End User (Family, Corporate, Individual, and Couple), Distribution Channel (Direct Sales, Financial Institutions, E-Commerce, Hospitals, Clinics, and Others), Country (Mexico) – Industry Trends and Forecast to 2030.

Market Definition

Health insurance is a type of insurance that provides coverage for all kinds of surgical expenses as well as medical treatment incurred from an illness or injury. It applies to a comprehensive or limited range of medical services covering full or partial costs of specific services. Insurance also helps the policyholder financially by covering all of their medical costs when they are admitted to the hospital for treatment. However, it covers pre as well as post-hospitalization expenses.

In the health insurance plan, several types of coverage are available: cashless or reimbursement claim. The cashless benefit is available when the policyholder takes treatment from the network hospitals of the insurance company. If the policyholder takes treatment from hospitals that are not in the list network, in that case, the policyholder meets all the medical expenses and then claims the reimbursement from the insurance company by submitting all the medical bills.

Market Segmentation

The Mexico Private Health Insurance Market is categorized into nine notable segments, which are based on the basis of product type, business solution, assistance/service type, level of coverage, type of insurance plans, demographics, coverage type, end user, and distribution channel.
• On the basis of product type, the market is segmented into mediclaim insurance, hospitalization coverage insurance, critical illness insurance, individual coverage insurance, family floater coverage insurance, senior citizen coverage insurance, unit linked health plans, permanent health insurance, and others.
• On the basis of business solution, the market is segmented into lead generation solutions, revenue management and billing solutions, robotic process automation, insurance cloud solutions, claims administration cloud solutions, value-based payments solutions, artificial intelligence & block chain solutions, intelligent case management solutions, and others.
• On the basis of assistance/service type, the market is segmented into inpatient/daycare, hospital accommodation, medical evacuation, oncology, rehabilitation treatment, palliative care, organ transplant, psychiatry and psychotherapy, laser eye treatment, accidental death benefit, maternity, dental, out-patient, repatriation plan, and others.
• On the basis of the level of coverage, the market is segmented into bronze, silver, gold, and platinum.
• On the basis of type of insurance plans, the market is segmented into point of service (POS), exclusive provider organization (EPOS), indemnity health insurance, health savings account (HSA), qualified small employer health reimbursement arrangements (QSEHRAS), preferred provider organization (PPO), health maintenance organization (HMO), and others.
• On the basis of demographics, the market is segmented into adults, minors, and senior.
• On the basis of coverage type, the market is segmented into lifetime coverage and term coverage.
• On the basis of end user, the market is segmented into family, corporate, individual, and couple.
• On the basis of distribution channel, the market is segmented into direct sales, financial institutions, e-commerce, hospitals, clinics, and others.

Market Players

Some of the major players operating in the Mexico private health insurance market are:
• AXA
• GNP Seguros (A subsidiary of SAB National Provincial Group)
• Pan- American Life Insurance Group
• Banco Bibao Vizcaya Argentaria S.A.
• Seguros Monterrey New York Life
• MetLife, Inc.
• Chub
• Guardian Insurance MX.
• Allianz
• Now Health International
• Best Doctors Insurance
• Zurich Santander Seguros México
• SA
• Bupa

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