Archive · 8 Dec 2025
Health-tech and insurance sectors grow
India's big IT sector is facing some tough times with slower demand, but health-tech companies are doing really well.
Companies like Sagility, Indegene, and IKS are growing because they help with healthcare and insurance services in the US.
They make software that helps hospitals and doctors manage patients and handle administrative tasks.
The US is spending more on healthcare, which is good for these companies.
Even though other parts of the IT sector are struggling, health-tech is doing great because they are good at dealing with new rules and helping clients save money.
Meanwhile, the insurance sector in India is also growing because the government made health and life insurance premiums exempt from GST, making them more affordable for customers.
This has led to a surge in demand for health insurance policies, with some companies seeing significant growth in premiums.
Health-tech companies like Sagility, Indegene, and IKS are growing despite a sluggish IT demand environment.
These companies reported significant revenue growth in the July-September quarter and the first six months of FY26.
Their growth is driven by adaptation to US regulatory challenges and increasing reliance on software platforms for healthcare services.
The health insurance industry in India saw a 24.1% year-on-year growth in gross direct premium income (GDPI) in November 2025.
Standalone health insurers (SAHIs) reported a robust 35.8% year-on-year growth, supported by the GST exemption on retail health insurance.
- Who
- Health-tech companies (Sagility, Indegene, IKS) and insurance companies (LIC, Axis Max Life, Bajaj Allianz, ICICI Lombard, Star Health)
- What
- Growth in health-tech and insurance sectors
- When
- July-September quarter, first six months of FY26, and November 2025
- Where
- Primarily in the US healthcare sector and India
- Why
- Adaptation to US regulatory challenges, increasing reliance on software platforms, and GST exemption on health and life insurance premiums
- Health-tech Growth (Q2)
- 4.2%
- US Healthcare Spending Growth
- 7.8% CAGR (2023-2028)
- Industry GDPI Growth (November 2025)
- 24.1% YoY
- Standalone Health Insurers (SAHIs) Growth (November 2025)
- 35.8% YoY
- Private Multi-line Insurers Growth (November 2025)
- 35.5% YoY
- Public Multi-line Insurers Growth (November 2025)
- -0.4% YoY
- Bajaj Allianz General Insurance (BAGIC) Growth (November 2025)
- 1.9 times YoY
- ICICI Lombard General Insurance (ICICIGI) Growth (November 2025)
- 7.4% YoY
- Star Health Insurance Growth (November 2025)
- 19% YoY