In early March, Digit, the new kid on India’s general insurance block, was among the first to launch a Covid-19-specific insurance policy. This was before the 21-day countrywide lockdown was imposed on 24 March. The retail policy premium cost Rs 299 ($4) for a Rs 25,000 ($328) cover. In a matter of three weeks, Digit hit the Rs 50 lakh ($65,637) premium limit set by India’s insurance regulator.
In a country where only 44% of the population has health insurance, the popularity of the Covid-19 policy is a testament to how worried the public is about the unfolding pandemic.