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An internal study on claims data by SBI General Insurance brought forth some startling statistics.
Diabetes claims have surged over the last two years. The insurance company’s claims analysis revealed that Indians in the age group of 18-35 years are the most vulnerable to the potentially fatal disease.
On a pan-India level, the company witnessed a rise in the number of claims reported each year, with Maharashtra, Tamil Nadu and Gujarat having the highest paid claims for diabetes-related ailments.
Touted to be the world’s seventh-largest killer by 2030, diabetes is reaching epidemic proportions. According to the World Health Organization, about 8.7 per cent of people between the ages of 20-70 are diabetic in India.
Conducting an internal study on their claims data, SBI General Insurance found that diabetes-related claims have jumped to 26 per cent in 2017-18, with the maximum claims coming in from metros, at 63 per cent. Some 37 per cent claims have come in from non-metros. The study revealed 59 per cent claims were from males, and 41 per cent from females. This year, the company received maximum number of claims from Maharashtra at 22 per cent, followed by Tamil Nadu at 13 per cent, and Gujarat at 10.36 per cent.
The company said 6 per cent of all claims settled by SBI General are for diabetes, which amounts to over ₹11 crore in 2017-18. Diabetes-related claims have risen in the 18-35 age group from 7.22 per cent to 9.88 per cent over three years.
SBI General Insurance’s analysis and comparison of its internal claims data between FY2016 and FY2018 has shown a staggering 54 per cent rise in the total number of claims on year-on-year basis. Within diabetes claims, a whopping 73 per cent increase was seen in the number of claims, between the age group of 18-35 years. Similarly, the age group of 35-45 saw an increase of 32 per cent claims, whereas the 45-55 age group saw a rise of 38 per cent.
Sukhesh Bhave, Head-Accident and Health Claims, SBI General Insurance, said:“The excess blood sugar in diabetes can severely damage the eyes, kidneys, nerves, and other body parts, and double the risk of heart attack and stroke,” he said.
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