Introduction
1A PRESENTATION ON Customers Perception toward Health Insurance
Empirical Study in Ahmadabad Region
SUBMITTED TO Cms, GnuSUBMITTED BY-NAMEROLL NO.AARTI
ANAND13124321001GUNJAN DESAI13124321002RAHUL NISARTA13124321009MBA
FS IV (CMS, GNU) HISTORY OF HEALTH INSURANCE1907: The Indian
Mercantile Insurance Ltd. was set up which was the first company of
its type to transact all general insurance business. 1957: General
Insurance Council, an arm of the Insurance Association of India,
framed a code of conduct for guaranteeing fair conduct and sound
business patterns. 1968: The Insurance Act improved for regulating
investments and set minimal solvency levels and the Tariff Advisory
Committee was set up. 1972: The General Insurance Business
(Nationalization) Act, 1972 nationalized the general insurance
business in India. It was with effect from 1st January 1973.
2Function of Health InsuranceProviding protection The elementary
purpose of insurance is to allow security against future risk,
accidents and uncertainty. Insurance cannot arrest the risk from
taking place, but can for sure allow for the losses arising with
the risk. Insurance is in reality a protective cover against
economic loss, by apportioning the risk with others. Collective
risk bearing Insurance is an instrument to share the financial
loss. It is a medium through which few losses are divided among
larger number of people. All the insured add the premiums towards a
fund and out of which the persons facing a specific risk is paid.
Evaluating risk Insurance fixes the likely volume of risk by
assessing diverse factors that give rise to risk. Risk is the basis
for ascertaining the premium rate as well. Provide Certainty
Insurance is a device, which assists in changing uncertainty to
certainty.
34The main objective of the research is to know the customer
perception toward health insurance and there need and the see the
insurance company has completed there satisfaction level and the
customer are willing to continue the policy for a long period of
timeAnother objective that survey will make the fix target that all
the age limit and the make the awareness to all the age criteria
that how health policy is important and in the that which criteria
of age and occupation and income are preferring more policy and
from number of policy holder how many are satisfied by the company
and going to contuse the policy after ending the current policy
holdingOBJECTIVE
45The experiences in liberalizing the private health insurance
suggest that it has undesirable effects on the costs of health
care. The costs of care generally go up. Given the present system
of fee for service and current scenario of health infrastructure in
private sector, the development of insurance will need improvements
in quality and change in structure. The new investments to improve
quality will result into high cost and therefore increase in prices
of insurance products. Impact of Health insurance on structure and
quality of private provision:-Health insurance is a mechanism by
which a person protects himself from financial loss caused due to
accident and or disability. Though disability is not fixed, precise
and immutable state affected as it is by numerous influences, both
objective and subjective, its significance to society is that
condition of ill health arising from disease or injury that
prevents the individual from pursuing his normal routine of living.
The universality of the hazard of disability is everywhere
recognized; just as uncertainty is one of the fundamental facts of
life (Knight 1921).it is one of the significant drivers of
improvement in the healthcare provision by encouraging investment
and innovation. This mechanism also helps in improving the quality
and efficiency of public health care system by continually
benchmarking it (Ahuja 2005).
6Literature Review Types of Research Design: -Exploratory
research design Exploratory Research: - Descriptive Data. Primary
Data: - Market survey Secondary data: - External Secondary Data: -
Private Secondary Data. Private Secondary Data: - Internet
Conclusive research: - single cross sectional, descriptive
Research. Data collection method: - Survey (Personal) surveywith
the person who has health insurance policy holder .Data collection
instrument: - Questionnaire. Sampling Design:- customer perception
towards health insurance policy
7RESEARCH METHODOLOGYTarget Population Definition: - health
insurance policy holder Target population: -Ahmadabad city health
policy holder including all company survey Sampling Elements: -
Sampling Units: - Sampling frame: - Not available. Sampling Size: -
200 Extent: - Ahamadabad city. Sampling Techniques: -
Non-Probability convenience method.8Conti9 FrequencyPercentValid
PercentCumulative
PercentValidmale18090.090.090.0female2010.010.0100.0Total200100.0100.0
1. GenderHere we se that from the total insurer 180 are male and 20
are female
Data Interpretation10 FrequencyPercentValid PercentCumulative
PercentValidless 30 years15276.076.076.030-40
years3919.519.595.540-50 years84.04.099.5above 50
years1.5.5100.0Total200100.0100.0
2.AgeIn age criteria there are76 % people has less than 30 years
and lowest is above 50 years has 0.5% health insurance
FrequencyPercentValid PercentCumulative
PercentValidsingle5527.527.527.5marrie14572.572.5100.0Total200100.0100.0
11
In marital status there are72% married has health insurance and
27% are single they has health insurance3.Marital Status:-12
FrequencyPercentValid PercentCumulative
PercentValidjoint4321.521.521.5nuclear15778.578.5100.0Total200100.0100.0
4.Type of family:-
There are 78%nuclear has highest they has insurance and only 21%
live in joint has lowest has health insurance FrequencyPercentValid
PercentCumulative
PercentValidprimary21.01.01.0Matrix84.04.05.0higher
seaconday42.02.07.0graduation10150.550.557.5post
graduction8040.040.097.5vocational52.52.5100.0Total200100.0100.0
13
5.Education:-The highest value of insurer are 50% graduated and
the lowest value 1% primary education they has health insurance
FrequencyPercentValid PercentCumulative
PercentValidEmployed4723.523.523.5self employed3718.518.542.0house
wife84.04.046.0unemployed52.52.548.5professional2512.512.561.0family
owned business7839.039.0100.0Total200100.0100.0 14
6.Occupation:-The highest value in occupation 39% family
business they has health insurance and the lowest value has 2.5
unemployed has less frequency FrequencyPercentValid
PercentCumulative PercentValidless the
500002412.012.012.050000-100000178.58.520.5100000-150000189.09.029.5150000-2000004623.023.052.5above
2000009547.547.5100.0Total200100.0100.0 15
7. Annual income:-The hugest value in 47.5% income that has
above 200000 income has preferring more health insurance and the
lowest value 8.5% there income come between 500000-100000
preferring less health insurance FrequencyPercentValid
PercentCumulative PercentValidpublic company4221.021.021.0private
company15778.578.599.5any other1.5.5100.0Total200100.0100.0 16Q.10
who is your insurer?
The high value 78% has there health insurance in private company
and 21% lowest value has health insurance in public company 17
FrequencyPercentValid PercentCumulative PercentValidindividual
health insurance13266.066.066.0group health
insurance3216.016.082.0family floater health
insurance3517.517.599.5other1.5.5100.0Total200100.0100.0
The highest value 66% has taken individual health insurance and
the lowest value 0.5 prefer in other Q.11 what type of health
insurance policy you have?18 FrequencyPercentValid
PercentCumulative PercentValidtax planning
measure136.56.56.5travelling abroad73.53.510.0employers
contribution4824.024.034.0existing illness42.02.036.0avail good
quality medical treatement4221.021.057.0risk coverage against
future illness8643.043.0100.0Total200100.0100.0
The highest value of 43% prefer health insurance for risk
covering against future illness and the lowest 2% existing illness
has taken health insuranceQ.12 what are the reasons for going in
for health insurance policy?19Q.14 what approach was adopted in
seeking health insurance coverage?
FrequencyPercentValid PercentCumulative PercentValidinsurance
agent seeked you out14472.072.072.0you seeked out insurance
agent5628.028.0100.0Total200100.0100.0
The highest value 72% has insurance agent seeked then out and
the 28% lowest value you seeked out insurance agent20Q.15 Do you
agree that the services provided by the insurance companies are
delivered effectively? FrequencyPercentValid PercentCumulative
PercentValidyes10552.552.552.5no6733.533.586.0indifferent2814.014.0100.0Total200100.0100.0
The highest value 52% has think that service has delivered and
lowest 14% has given indifferent about the health insurance
delivered21Q.16 what is the chance of renewing the service after
the health insurance expiry of present insurance policy?
FrequencyPercentValid PercentCumulative
PercentValid100%9547.547.547.550%4824.024.071.525%4321.521.593.00%147.07.0100.0Total200100.0100.0
The Highest value has of renew 47.5% respondence will 100% they
will renew policy and lowest value of 7% they will not going to
renew the policy22Q.18 Do you think the promotional efforts being
taken by insurance company are sufficient? FrequencyPercentValid
PercentCumulative
PercentValidyes11356.556.556.5no8743.543.5100.0Total200100.0100.0
The highest value of 56% response yes and lowest value 43% select
no for promotional efforts being taken by insurance company
23a) Name and reputation of the insurance company
FrequencyPercentValid PercentCumulative PercentValidstrong
agree11055.055.055.0agree8040.040.095.0indifferent105.05.0100.0Total200100.0100.0
Q.19
The Highest value 110 has strongly agree will the statement and
the lowest values selected indifferent is 10.
24b) Maximum customer satisfaction. FrequencyPercentValid
PercentCumulative PercentValidstrongly
agree13165.565.565.5agree6331.531.597.0indifferent63.03.0100.0Total200100.0100.0
The Highest value 131 are strongly agree with the statement and
6 are selected indifferent
25c) Minimum co-payment involved FrequencyPercentValid
PercentCumulative PercentValidstrongly
agree4723.523.523.5agree8241.041.064.5indifferent7135.535.5100.0Total200100.0100.0
The highest value has 82 are agree with the statement and the 71
lowest value selected indifferent
26d). Flexibility of policy offered FrequencyPercentValid
PercentCumulative PercentValidstrongly
agree5025.025.025.0agree12562.562.587.5indiffernt2512.512.5100.0Total200100.0100.0
The highest value 125 has agree with the statement and lowest
value 25 has selected indifferent
27e). Easy accessibility of linked hospitals
FrequencyPercentValid PercentCumulative PercentValidstrongly
agree9246.046.046.0agree4522.522.568.5indifferent6331.531.5100.0Total200100.0100.0
The highest value 92 has are strongly agree with the statement
and lowest value 45 are agree with the statement
28f). Easy availability of services in hospital
FrequencyPercentValid PercentCumulative PercentValidstrongly
agree15477.077.077.0agree4623.023.0100.0Total200100.0100.0
The highest value 154 are strongly agree with the statement and
lowest are 46 are agree with the statement
29ANOVA Test1. Age group, Occupation, Income & Customer
Satisfaction toward Health Insurance Policy. Sum of SquaresdfMean
SquareFSig.AgeBetween Groups.1482.074.231.794 Within
Groups63.032197.320 Total63.180199 OccupationBetween
Groups1.8732.936.137.872 Within Groups1348.7471976.846
Total1350.620199 IncomeBetween Groups13.09526.5473.397.035 Within
Groups379.7001971.927 Total392.795199 30H0 : There is no impact of
various age group in Customer satisfaction towards Health Insurance
Policy.H1 : There is impact of various age group in Customer
satisfaction towards Health Insurance Policy.P value of Age is
0.794 is greater than 0.05 So I accept Null Hypothesis and reject
Alternative Hypothesis.So there is no impact of various group of
Age on Customer Satisfaction towards Health Insurance Policy.H0 :
There is no impact of various Occupation group on Customer
Satisfaction Health Insurance Policy.H1 : There is impact of
various Occupation group on Customer Satisfaction towards Health
Insurance Policy.P value of occupation is 0.872 is greater than
0.05 So I accept Null Hypothesis and reject Alternative
Hypothesis.So there is no impact of various group of Occupation on
Customer Satisfaction towards Health Insurance Policy.H0 : There is
no impact of various Income group on Customer Satisfaction towards
Health Insurance Policy.H1 : There is impact of various Income
group on Customer Satisfaction towards Health Insurance Policy.P
value of income is 0.035 is lesser than 0.05 So I reject Null
Hypothesis and accept Alternative Hypothesis.So there is impact of
various group of Income on Customer Satisfaction towards Health
Insurance Policy.312. Age group, Occupation, Income &
Flexibility toward Health Insurance Policy. Sum of SquaresdfMean
SquareFSig.AgeBetween Groups.8282.4141.308.273 Within
Groups62.352197.317 Total63.180199 OccupationBetween
Groups112.108256.0548.916.000 Within Groups1238.5121976.287
Total1350.620199 IncomeBetween Groups2.28321.142.576.563 Within
Groups390.5121971.982 Total392.795199 32H0 : There is no impact of
various age group in satisfaction towards health insurance.H1 :
There is impact of various age group in satisfaction towards health
insurance.P value of Age is 0.273 is lesser than 0.05 So I reject
Null Hypothesis and accept Alternative Hypothesis.So there is
impact of various group of Age on Overall Satisfaction towards
health insurance.H0 : There is no impact of various Occupation
group on Overall Satisfaction towards health insurance.H1 : There
is impact of various Occupation group on Overall Satisfaction
towards health insurance.P value of occupation is 0.00 is lesser
than 0.05 So I reject Null Hypothesis and accept Alternative
Hypothesis.So there is impact of various group of Occupation on
flexibility towards health insurance.H0 : There is no impact of
various Income group on Overall Satisfaction towards health
insurance.H1 : There is impact of various Income group on Overall
Satisfaction towards health insurance.P value of income is 0.563 is
greater than 0.05 So I accept Null Hypothesis and reject
Alternative Hypothesis.So there is no impact of various group of
Income on flexibility towards health insurance.333. Age group,
Occupation, Income & co-payment toward Health Insurance Policy.
Sum of SquaresdfMean SquareFSig.AgeBetween Groups.0702.035.109.897
Within Groups63.110197.320 Total63.180199 OccupationBetween
Groups39.436219.7182.963.054 Within Groups1311.1841976.656
Total1350.620199 incomeBetween Groups23.079211.5396.149.003 Within
Groups369.7161971.877 Total392.795199 34H0 : There is no impact of
various age group in satisfaction towards health insurance.H1 :
There is impact of various age group in satisfaction towards health
insurance.P value of Age is 0.897 is greater than 0.05 So I accept
Null Hypothesis and reject Alternative Hypothesis.So there is no
impact of various group of Age on Overall Satisfaction towards
health insurance .H0 : There is no impact of various Occupation
group on Overall Satisfaction towards health insurance .H1 : There
is impact of various Occupation group on Overall Satisfaction
towards health insurance P value of occupation is 0.054 is greater
than 0.05 So I accept Null Hypothesis and reject Alternative
Hypothesis.So there is no impact of various group of Occupation on
co-payment towards health insuranceH0 : There is no impact of
various Income group on Overall Satisfaction towards health
insurance.H1 : There is impact of various Income group on Overall
Satisfaction towards health insurance.P value of income is 0.003 is
lesser than 0.05 So I reject Null Hypothesis and accept Alternative
Hypothesis.So there is impact of various group of Income on
co-payment towards health insurance.FINDINGIn research project we
find that male has higher adopting insurance policy and female Are
has less number that has health insurance policy only 20
respondence are female and male are180 in 200 respondence and
single are more and they has insurance policy In research the age
of 30 and less then 30 has are 157 respondence and above 50 year of
age they has less number of insurer they has health insurance In
research we found that employed and self employed respondence are
less they the family business respondents are has health insurance
and the respondence they are selecting more private then public
company as preference are given more to the private .In research we
see that more ever the policy holder are take there on policy
either selective the family police or then group policy.In research
we found the company are has delivery 105 are positive in 200
sample that are satisfied with the health insurance and from that
95 respondences will renew the policy againCustomer perception the
health insurance policy to purchase from good reputation of company
and flexibility and strongly satisfaction and linked hospital
required and they select that kind of company that they provide the
service.
35CONCLUSIONHere in health insurance more ever the single are
selecting the less health insurance and the to approach single are
more important and the importance of health insurance has to give
the knowledge and the research says that female are has less
preferring health insurance they are also equal that they must take
health insurance and they age are not more important in the health
insurance policy that they all age criteria are importance they can
take the insurance policy and they select of the policy we see in
research that the adopting of individual policy scheme are
selecting more they must select they policy with the family they
will cover the hole family and they are also all are equal
important and they renew of the policy are also important that In
future that will help to cover and they can live risk free life
that some of amount will be collected from the insurance company
and the at will make the help in the hand in all the time and the
some of hug amount will pay by the company in less payment in the
year as instalment Customer is selecting the high reputation
company they must provide the flexibility to the customer and that
will make customer attraction and satisfaction power will
increase.
36Options, Futures, and Other Derivatives, 7th Edition,
Copyright John C. Hull 200837Thank You