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