1.
Personal Accident and Health Insurance in Hungary, Key
Trends and Opportunities to 2020

2.
Road Accidents Support Demand for Publicly Funded Health
Insurance in Hungary: Ken Research
• Ken research announced recent publication on, "Personal Accident
and Health Insurance in Hungary, Key Trends and Opportunities to
2020". The report provides a detailed outlook by product category
for the Hungarian personal accident and health insurance segment,
and a comparison of the Hungarian insurance industry with its
regional counterparts. It provides key performance indicators such
as written premium, incurred loss, loss ratio, commissions and
expenses, combined ratio, total assets and total investment income
during the review period (2011-2015) and forecast period (2015-
2020). The report also gives a comprehensive overview of the
Hungarian economy and demographics and provides detailed
information on the competitive landscape in the country. The
report brings togethers research, modelling and analysis expertise,
giving insurers' access to information on segment dynamics and
competitive advantages, and profiles of insurers operating in the
country. The report also includes details of insurance regulations,
and recent changes in the regulatory structure.

3.
• Hungary provides publicly funded health insurance,
meaning that health insurance is free for all its citizens. Its
health insurance coverage extends to include those non-
Hungarian citizens who are insured under the National
Health Insurance Fund. The Hungarian personal accident
and health insurance segment accounted for 3.9% of the
industry's gross written premium in 2015. The Insurance
Companies and Insurance Activities Act was introduced in
December 2014, and came into force on January 1, 2016.
Personal accident insurance accounted for 66.7% of the
segment's gross written premium in 2015. Health insurance
was the second-largest category, accounting for 27.5% of
the segment's gross written premium in 2015.

4.
• Factors such as a rise in road accidents, awareness of health
insurance benefits and expansion of the tourism industry are
expected to lead the segment's growth over the forecast period.
Hungary provides full medical coverage for residents. Foreigners
who are resident and working or studying in Hungary, as well as
refugees and their dependants, are considered insured and the
National Health Insurance (OEP) issues them with a national health
insurance card (TAJ kártya) and a health insurance number (TAJ
szám). There are also private insurance companies in Hungary,
which many people use for additional health insurance, and private
hospitals are available. Most state-employed doctors and specialists
also have private practices, which many Hungarians choose in order
to receive a better and more comfortable treatment, especially in
the case of dental treatment, gynaecology and childbirth. Doctors
very often treat their private patients in the state hospitals where
they practise.

5.
• system in Hungary is mainly provided to residents of the country
by the government. However the healthcare industry has
decentralized substantially since the fall of the Soviet Union (of
which Hungary was a part), and private healthcare in the country is
increasingly being chosen as the way that many Hungarians receive
their medical services. In the modern world, the Hungarian
healthcare system is heavily influenced by ideas from both
Germany and France with social insurance playing a large role in the
way that patients pay for their treatments. The Health Insurance
Fund (or HIF) is in place to guarantee Hungarian nationals free
access to all medically necessary treatments, and therefore there is
a high usage of these facilities throughout the country. The HIF
collects its revenue directly through the national tax system and
spends approximately US$ 600 per capita annually, and is one of
the key reasons that the Hungarian public sector deficit is running
at approximately down at 4% in 2008.

6.
• While the Hungarian healthcare insurance and private accident
system is able to provide a relatively high standard of care to its
patients there have been some major criticisms of the services. One
of the major concerns is the fact that Hungarians have the lowest
average life expectancy in Europe. One of the major factors
contributing to this is that there are large gaps in healthcare
coverage throughout the country. Despite the so-called 'free
provision' patients are required to pay out-of-pocket for dental
treatments, pharmaceuticals, and provide 'gratitude' payments to
any physician that they visit. In addition to this, specific ethnic
groups throughout the country (namely individuals of Romanian
origin) are provided services inferior to ethnic Magyars, leading to
their having an average life expectancy 10 years lower than the rest
of the nation.

7.
• Essentially Hungary is still recovering from its time as a member of
the Soviet Union and during that period, the healthcare system
became a slow, bureaucratic beast. This is a legacy that continues to
this day, and patients will often have to wait for long periods and fill
out copious amounts of paperwork before they are provided the
treatment that they need. This is a contributing factor to many
Hungarians becoming disillusioned with the service and simply
choosing not to seek medical treatment at all. It is not all doom and
gloom in Hungary however; the country is able to provide some
extremely high quality health insurance services, mainly at the
nation's top private hospitals. These medical facilities however, are
much more expensive than the average Hungarian citizen can
afford, and as such, their use is mainly the province of wealthier
citizens and foreign nationals.
•

8.
• Comparatively the top private hospitals in the country will charge
treatment costs similar to those in the USA and other top tier
European nations, making out-of-pocket payment seem a risky
proposition indeed without a Hungary health insurance plan. The
other option is to use the public health system, and despite the
governments attempt to reform this service, the long waiting times
and crowded facilities coupled with poorly trained staff lead to grim
out look of this system. The only way to truly protect yourself and
your loved ones, anywhere in the world, is with a quality
international health insurance plan. International health insurance
plans are typically globally portable and guaranteed renewable for
life, giving you the assurance that no matter what happens you will
always have access to the treatment that you deserve. Plans will
typically afford you a number of additional coverage options
including benefits for dental, maternity, outpatient treatment,
specialist consultations, alternative therapies, complimentary
medicines, and emergency evacuations. This sector is expected to
grow manifold by 2020.

9.
Topics Covered in the Report
• Global Non-life insurance industry,
• New Zealand non-life insurance market research,
• Non-Life insurance sector trends Hungary,
• Hungary General insurance regulations,
• Health insurance market research Hungary,
• Health insurance demand Hungary
• Personal Accident Insurance Industry Hungary
• Personal Accident Insurance Gross Written Premium Hungary
• Health Insurance Gross Written Premium Hungary
• Hungary Non-life insurance industry
• Hungary Non-life insurance industry research
• Hungary Non-life insurance industry growth
• Hungary Non-life insurance industry trends
• Hungary Non-life insurance industry analysis

10.
• For more coverage click on the link below:
• https://www.kenresearch.com/banking-financial-services-and-
insurance/insurance/personal-accident-health-insurance-hungary/81985-
93.html
•
• Related links:
• Life Insurance in New Zealand, Key Trends and Opportunities to 2020
• Personal Accident and Health Insurance in New Zealand, Key Trends and
Opportunities to 2020
•
• Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
• +91-124-4230204
www.kenresearch.com
•

11.
Thank you