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SUMMER INTERNSHIP PROJECT REPORT
UNDER THE GUIDANCE OF
Mr. Raghav Ahooja
Manager Online Sales
Religare Health Insurance Company Ltd
(A Subsidiary of Religare Enterprises Limited)
SUBMITTED BY:
Sridhar Chandran
Post-Graduate Diploma in Global Business Operations Shri Ram
College of Commerce
University Of Delhi, India
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DECLARATION
I, Sridhar Chandran, Student of Post Graduate Programme in
Global Business Operations
(PGDGBO) at Shri Ram College of Commerce, University of Delhi,
hereby declare that the project
is an original piece of work carried out by me at Religare
Health Insurance Company Limited
during the period from 1-Jun-2015 to 31-Jul-2015.
The information in the project report has been collected from
genuine and authentic sources. The
work has been submitted in partial fulfilment of the requirement
of degree to our college and has
not formed the basis for the award of any degree, diploma,
associate-ship or other similar titles.
Sridhar Chandran
Post-Graduate Diploma in Global Business Operations
Shri Ram College of Commerce
University Of Delhi, India
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CERTIFICATE
This is to certify that SRIDHAR CHANDRAN, Student of SHRI RAM
COLLEGE OF COMMERCE
UNIVERSITY OF DELHI has completed his project report and has
submitted it in partial fulfilment of
POST GRADUATE PROGRAMME IN GLOBAL BUSINESS OPERATIONS (PGPGBO)
for the academic year
2013-2015. He has worked under our guidance and direction. The
said report is based on bonafide
information.
Date: Signature:
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ACKNOWLEDGEMENT
Strive not to be a success, but rather to be of value- Albert
Einstein
The Summer Internship Training was an enriching experience that
helped me to understand the Health
Insurance Sector and products offered by various Insurers across
the Industry and the products on offer by
Religare in the market along with the marketing activities to
promote their reach to the customers.
I express my sincere gratitude to Ms. Rashi Ramani (Senior
Manager Human Resource) for providing me
with an opportunity to work with the organization. I also take
this opportunity to express a deep sense of
gratitude to my Mentor Mr. Raghav Ahooja (Manager Online Sales)
for his constant support and guidance
throughout the duration of my Project. He helped me streamline
my ideas related to understanding the
Product offered by the company and the Digital marketing and
communications and made my learning
extremely enriching.
I would like to extend my thanks to Mr. Samarth Ranjan, Ms.
Eshita Wattal and Ms. Iqbal Kaur for their
valuable help and support.
Lastly I would like to thank all employees of Religare Health
Insurance Ltd Noida who helped me in my
survey by giving me valuable information.
However, I accept the sole responsibility for any possible
errors of omission and would be extremely grateful
to the readers of this project report if they bring such
mistakes to my notice.
Sridhar Chandran
Post-Graduate Diploma in Global Business Operations Shri Ram
College of Commerce University Of Delhi, India
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CONTENTS
EXECUTIVE SUMMARY
LIST OF PROJECTS
CHAPTER 1: INTRODUCTION
CHAPTER 2: HEALTH INSURANCE INDUSTRY
CHAPTER 3: RELIGARE HEALTH INSURANCE CHAPTER 4: PRODUCT
COMPARISION & RECKONOR PREPERATION
CHAPTER 5: SEO & DIGITAL MARKETING ANALYSIS
CHAPTER 6: CANCELLATION ANALYSIS
CHAPTER 7: CONCLUSION
CHAPTER 8: BIBLIOGRAPHY
INTERNSHIP FEEDBACK FROM RELIGARE
8.1: WEBSITES
8.2: JOURNALS AND RESEARCH ARTICLES
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EXECUTIVE SUMMARY
Recent decade in India has seen the population gradually
becoming health conscious. This is
because youngsters have new ambitions, big dreams and high goals
and they have the motivation
and drive to make them all come true. Their lives are fast paced
and disease prone accompanied with
a raise in medical cost. Because of this there is an absolute
need for health care so that they are able
to overcome all the obstacles that might come their way. For the
same reasons Indians have realized
the importance of health insurance India.
Owing to this realization, the medical insurance sector is one
of the fastest growing segments
in India today. This report provides an insight into the Health
Insurance industry and the process of
online insurance and different types of health policies offered
by Religare Health Insurance which is
one among the five standalone health insurers in the market.
We will look in detail about Health insurance in India its
prospective growth and
opportunities available in the market and Religare health
insurance products and its competitiveness
with the market competitors and about projects covered during
the tenure of my internship period.
This report also attempted to discuss the vital scenario in
healthcare and Health Insurance
market in India. A brief about Indian Insurance industry and
Health Insurance industry overview are
discussed. Growth drivers and issues of the industry are also
covered. Major public and private
players are covered in terms of their products and their
features. Future outlook of the industry is
also discussed.
The report will be useful for insurance companies to understand
Religare Health Insurer its
products, marketing and promotion efforts associated with the
company in the industry and for the
students and employees in the field of Health insurance.
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List of Projects during Internships
Project 1 Product Comparison Ready Reckoner
Understanding Health insurance products offered in the market by
Religare and its competitors. Based on this preparation of a ready
reckoner for CARE, ASSURE, EXPLORE, ENHANCE and SECURE products and
compare them with the product in the market.
Reckoner Template was provided Research needs to be done on all
products in the market. And compared with Religare
this template would then be used by Religare agents in training
as well existing agents. Presentation with ppt compa
Project 2 SEO and Digital Marketing Analytics
Research on the digital marketing campaigns and ads by Religare
and understanding the effect and understand campaign related
conversion rate with suggestions.
Deep dive into Google analytics data for 2013 & 2014 (Fin
year). Shortlist the best sources on the basis of Visits/new
visits/Bounce/conversions.
Google Trend analysis (Best practices) Competitors promotion
strategies Similarweb analysis and opportunities for Health
Insurance in India.
Project 3 Cancelation Analytics
Reasons as to why customers cancel their policies.
Analyse the mails and summarize the points
Make graphs showing month on month trends
Graphs showing the points which re occur the most.
Number of cases resolved vs number of cases unresolved.
Retention Ratios Month on Month
There was a presentation at the end of each project and guidance
throughout our internship tenure.
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INTRODUCTION
How many accident you need to realize that you need Health
Cover? It takes just one visit to a hospital to
make us realize how vulnerable we are every passing second. For
the rich as well as poor, male as well as
female and young as well as old, being diagnosed with an illness
and having the need to be hospitalized can
be a tough ordeal with a heavy financial burden.
Heart problems, diabetes, stroke, renal failure, cancer the list
of lifestyle diseases just seem to get longer
and more common these days. Thankfully there are more specialty
hospitals and specialist doctors but all
that comes at a cost. The super-rich can afford such costs, but
what about an average middle class person.
For an illness that requires hospitalization/ surgery, costs can
easily run into five digit bills.
A Health insurance policy can cover such expenses to a large
extent. Health is a human right which has also
been accepted in the constitution. Its accessibility and
affordability has to be ensured by the government to
every citizen of the country. While the well-to-do segment of
the population both in rural & urban areas have
acceptability and affordability towards medical care. Same is
not the case about the people who belong to
poor segment of the society.
It is well known that more than 75% of the population utilizes
private sectors for medical care and
unfortunately medical care becoming costlier day by day and it
has become almost out of reach of the poor
people. Health insurance is an important option, which needs to
be considered by the policy makers and
planners for the benefit of our country.
The cost of Health Insurance depends on the sum assured, age,
current health condition and your previous
medical history. Higher the sum assured, higher the premium. So
what is the ideal health insurance cover
requirement? There is no standard answer or thumb rule for this.
If we agree that health insurance is
important, one has to look at his/ her own lifestyle, health
condition, age/ life stage, family history of
illnesses and affordability. Also note that many health
insurance policies provide additional benefits such as
daily allowance, ambulance charges, etc. for
hospitalization.
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Since the past two decades, there has been a phenomenal surge in
acceleration of healthcare costs. This has
compelled individuals to have a re-look on their actual monthly
expenditures, spending patterns and
simultaneously allocate a proportion of their income towards
personal healthcare. This has resulted in
individuals availing healthcare insurance coverage not only for
themselves but also for their family members
including their dependents. In short healthcare insurance
provides a cushion against medical emergencies.
The concept of insurance is closely concerned with security.
Insurance acts as a shield against risks and
unforeseen circumstances.
Some major health insurance companies in India include National
Insurance Company, New India Assurance,
United India Insurance, ICICI Lombard, Tata AIG, Royal Sundaram,
Star Allied Health Insurance, HDFC
standard life, Bajaj Allianz, Apollo AG and Religare
growing demand for affordable health cover is attracting greater
business attention, with both life and non-
life insurance companies now entering the market with innovative
new protection and savings medical
insurance products.
This intense competition for health insurance customers has only
intensified with the introduction of new
savings- linked and investment-
insurance groups.
years coverage rates across the populous South Asian country
have doubled and the domestic insurance
industry has overtaken several more developed financial markets
in the process.
accounting for almost a third of new written premiums last year.
Sales of medical insurance products have
been driven by three key factors: a low penetration rate of
about 5 percent at present, surging treatment
costs, and a lack of other social safety options across most of
India.
With total expenditure on healthcare, through both Indian
government schemes and private sector activity,
expected to exceed US$200 billion in
insurance sector will likely emerge d
still has many problems to contend with in order to match its
true potential going forward.
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The most important challenge for insurers remains the low level
of awareness concerning the value of
obtaining adequate coverage as a valuable savings and investment
tool across much of the country. This
problem is slowly being addressed as more insurers develop their
product and distribution platforms to
reach previously untapped regions and client bases with more
innovative and affordable coverage products,
including micro insurance and local bank. Indian consumers
already aware and enrolled in health insurance
schemes, the industry faces the continuing challenge of keeping
them happy.
Customer satisfaction levels for health insurance in India have
consistently ranked below comparable levels
elsewhere, with critics frequently citing the low coverage of
plans in terms of both the diseases and number
of hospitals covered. Unlike other homogenous general insurance
products, premiums for medical plans are
based on the health of an individual policyholder and this had
led to confusion and fraud in the Indian market
and increased policy cancellations from customers who do not
find any value in their health insurance
policies.
The interesting find about health insurance in India was how
people perceived health insurance in India. It is
seen as an instrument to protect savings. It is not aimed at
protecting the asset that is health. This is
probably common to developing markets, where people tend to
place wealth ahead of health. On a macro
level, very few households in India have contingency plans to
meet their health expenses.
Health risks in India are perceived differently than the western
population. Prior planning in health issues is
yet to be a major priority and the industry is also becoming
tech-savvy with facilities to buy certain types of
insurance products online and payment of premium through
Internet. The insurance penetration level in
India is very low when compared with the global average. This
has brought about a plethora of distribution
channels such as agents, brokers, bancassurance (bank insurance
model) avenues, soliciting insurance
through Internet or direct mailing.
Many banks, financial institutions and insurance intermediaries
saw a huge opportunity in marketing
insurance products. Insurance brokers play a vital role in
bringing together insurance companies and the
insured and their role assume importance when a claim arises.
Research includes awareness of health
insurance, preference of health insurance consumption pattern,
new services offered by insurance sectors
Claim settlement procedure, and major issues of health
insurance.
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Health insurance policy does not always cover every possible
health problem someone might encounter in
the future. There are certain terms and conditions agreed to by
the insured (person who is taking the plan),
and the insurer (entity that is providing the plan) and the
entire procedure happens according to what has
been agreed to in the contract
The best time to avail a health insurance plan is when the
insured is still in a good physical condition. The
normal logic among young people is that since they are rarely
afflicted by physical ailments they do not need
such a plan. In reality people can fall prey to a disease or
other physical problem at any time nobody can be
absolutely sure of a life fully free of such issues.
Normally as someone gets older the problems increase and the
possibilities of some major disease are always
there. A problem with trying to get a medical insurance during
old age is that since there are more chances of
a medical condition the premium is often high or the insurer is
not ready to cover the individual in question.
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Medical Inflation in India
India has the highest rate of medical inflation in the world.
Medical inflation was running higher than the
salary increases, higher than the general inflation. When you
look at what's going on here, it's a concerning
trend. Our research shows that the key three elements impacting
employee growth is stress, lack of physical
activities and obesity. Looking at all these together, you know
why India is called the diabetes capital of the
world.
Many of the diseases affecting employees are lifestyle diseases
improve the lifestyle of the employee
There has been an average increase of 25% inflation in prices
related to medical care with comparing 2010
as base. In a short period there has been a tremendous raise in
Treatment and medicinal costs in India.
Below figures from Government shows the medical inflation in our
country:-
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HEALTH INSURANCE
Health insurance in a narrow sense would be an individual or
group purchasing health care coverage in
advance by paying a fee called premium. In its broader sense, it
would be any arrangement that helps to
defer, delay, reduce or altogether avoid payment for health care
incurred by individuals and households.
The health insurance market in India is very limited covering
about 10% of the total population Health
insurance guarantees payments to a person in the event of
sickness or injury and works as protection scheme.
Health insurance is protection scheme to take care of health of
a person and works by buying a policy from an
Insurance company or an insurance agent. Depending on the
premium paid the health insurance policy will
pay specified amounts for the medical expenses incurred to
overcome the health problem.
Currently the trend of some of the reputable companies seems to
be to build in a health insurance policy as a
benefit to an employee. Some countries offer free health
insurance to their citizen. In India certain sectors
like railways, army and the employees working with the central
government are covered in a health scheme
provided cover to almost 20million people in different part of
country.
The escalating cost of medical treatment today is beyond the
reach of a common man. In case of a medical
emergency, cost of hospital room rent, the doctor's fees,
medicines and related health services can work out
to be a huge sum. In such times, health insurance provides the
much needed financial relief.
An investment in health insurance scheme would be a clear and
clever decision. The health insurance scheme
could either be a personal scheme or a group scheme sponsored by
an employer.
Some of the existing health insurance schemes currently
available are individual, family, group insurance
schemes and senior citizens insurance schemes, long-term health
care and insurance cover for specific
diseases
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IMPORTANCE OF HEALTH INSURANCE
The importance of Health Insurance can never be undervalued for
the following reasons:
Provides security to human life which is of prime importance to
any individual.
Closely bonds Insurance Companies, Hospitals, Policyholders and
TPAs together for the benefit of
Indian masses.
An answer to the solution of uncertainties and risks that is
prevalent and ever-pervading in human
life.
Access to quality healthcare.
Means of savings and a safe investment option.
Provides financial stability in life.
A tax-saving instrument that significantly contributes in
reduction of tax deductions.
hospitalization.
Greatly contributes in leading a stress-free life.
Insurance may be described as a social device to reduce or
eliminate risk of life and property. Under the plan
of insurance, a large number of people associate themselves by
sharing risk, attached to individual insurance
plan that exclusively covers healthcare costs and is called
Health Insurance Since the past two decades; there
has been a phenomenal surge in acceleration of healthcare costs.
This has compelled individuals to have a re-
look on their actual monthly expenditures, spending patterns and
simultaneously allocate a proportion of
their income towards personal healthcare.
This has resulted in individuals availing healthcare insurance
coverage not only for themselves but also for
their family members including their dependents. In short,
healthcare insurance provides a cushion against
medical emergencies. The concept of Insurance is closely
concerned with security. Insurance acts as a shield
against risks and unforeseen circumstances. In general, by and
large, Indians are traditionally risk averse
rather than risk lovers by Nature.
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HEALTH INSURANCE IS DIVIDED INTO THREE TYPES IN INDIA
1) SOCIAL
a) ESIS( Employees state Insurance Scheme)
b) Central Government Health Scheme (CGHS)
c) Self-
2) COMMUNITY BASED HEALTH INSURANCE
3) PRIVATE
d) Individual policy
e) Group Mediclaim policy (also known as GMC).
Indian Health Insurance can also be primarily classified into 2
categories:
Cashless Hospitalization
Medical Reimbursement
a) Cashless Hospitalization Cashless hospitalization is a
specialized service provided by an insurer wherein an individual is
not required to
pay the hospitalization expenses at the time of discharge from
the concerned hospital. The settlement is done
directly by the insurance company (or insurer).
Planned hospitalization: This is a planned hospitalization
wherein the insured is aware of the hospitalization in
advance. This duration period may vary from case to case.
Examples include: FTND (Full Term Normal
Delivery), Chemotherapy treatment for carcinoma (cancer), for
cataract surgery, tonsillectomy
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(removal of tonsils).
Emergency hospitalization: It is a sudden hospitalization that
may be either an emergency or due to
unforeseen circumstances. In short, hospitalization is not
anticipated in advance. Examples include RTA (Road
Traffic Accident), Myocardial infarction (heart attack), Acute
Appendicitis.
b) Medical Reimbursement
Re-imbursement means to repay or to compensate. Thus, Medical
Re- imbursement means to repay the
products/services availed during hospitalization more
importantly after the completion of the treatment.
Under this procedure, the insured has to bear the entire
expenses incurred during hospitalization. After
getting discharged from hospital, the insured/policy holder can
claim medical reimbursement.
The primary function of Health Insurance is to pay those covered
expenses, as outlined in the policy, incurred
as a result of an accident or illness. It often has two
elements, one being hospitalization expenses and the
other being for the medical care rendered by a physician or
other health care professional. The vast majority
of health insurance is employer-based, meaning that people have
access to it through their employment. Not
all employers offer it, and for those whose employers do not,
they are free to obtain individual/family policies
on their own.
Most health insurance plans have deductibles and co-payments,
although different terminology may be used.
A deductible is an amount that the insured/member must pay
before the insurer's liability for payment is
triggered. A co-payment is a form of cost-sharing such that the
insurer pays a percentage of a covered
expense, and the insured pays the remainder. The size of the
deductible and co-payment has an impact on
premium.
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DIFFERENT KINDS OF HEALTH INSURANCE
Individual Mediclaim Policy
This is the plain vanilla Mediclaim or health insurance policy
for an individual protecting this person from the
expenses incurred due to disease or injury.
Floater Policy
A floater health insurance policy covers your entire family
under one policy with one sum insured and one
premium. It covers all the expenses as covered under Mediclaim
only the cover is now extended to the family
instead of one person. This cover can be used by any member of
the family any number of times. The
advantage of this policy is that saves money by spreading the
cover across family members.
Critical Illness Policy
Insurance companies define certain specified illness or diseases
as
policy, then the insurance company will pay you a lump sum
payment if you are diagnosed with a critical
illness as defined by the insurance company. Some of the
diseases/conditions which are usually deemed
critical are Cancer, Heart Attack, Kidney Failure, Major Organ
Transplant, Stroke, Paralysis and Heart Valve
Replacement Surgery.
Overseas Mediclaim Policy
An Overseas Mediclaim Insurance policy provides cover for
medical expenses incurred abroad for treatment
of illness and diseases contracted or injury sustained during
the insured period of overseas travel. Anyone
who is travelling abroad for business or pleasure or for
educational purposes should have this policy.
Student Medical Insurance
Student Medical insurance covers the cost of health care while
studying abroad. It is an essential requirement
of many foreign universities for its overseas students. Students
are generally advised to buy it in India as it is
substantially cheaper than buying it abroad.
Tax Saver
This is a new class of insurance launched to take full advantage
of the income tax benefit under section 80 D
of the Income Tax Act 1961. The premium is fixed at Rs 15,000
for all plans. For Senior Citizens aged 65 and
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Network
Hospital
Non
network
Hospital
Step 1- Filling all the
required claim
documents within 60
days of the date of
happening of the
event with relevant
document
above, the premium is Rs. 20,000 This plans include
reimbursement of OPD expenses upto Rs. 10,000. This
includes diagnostics tests, dental treatment and related
expenses. This insurance is suitable for people who
are looking to cover all their medical expenses in a tax free
manner
STRUCTURAL AND OPERATIONAL WORKING OF HEALTH INSURANCE
Operational Health Insurance procedure
Source:www.assocham.org
Operational and Surgical related
Expenses Critical Illness Related
Step1- Claims needs to be
confirmed by a registered
practitioner including a
Relevant specialist
acceptable to the company
(The cost of which shall be
borne by the policy Holder)
Step1- Complete Pre
authorization form
and send to TPA Step 2- Life Insured
should have survived
for at least 28 days after
happening of the Event
Step 2-Cashless
Hospitalization Step 2-Receive benefits
as applicable (Payout
may be reduced by 20
to 30% in case of
hospitalization or
undergoing surgery in a
network Hospital
Step 3- Filling all the
required claim
documents within 60
days of the date of
happening of the event
http://www.assocham.org/
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HOW TO CHOOSE BEST HEALTH INSURANCE PLAN?
Ever since the new ideas and new techniques have been witnessed
in the market, health insurance has gained
real importance. It is very important to choose the right kind
of plan not only for
as well. The basic idea of the insurance companies is to bring
more and more plans which would suit your
needs the best way. And hence, there are innumerable unique
plans made available in the market by the
insurance companies. The only thing you need to know is the
right kind of criteria while choosing any plan.
There are certain tips which would surely help you choose the
right kind of plans;
While choosing a plan, the first priority for is to acknowledge
your needs and then act accordingly while
choosing the kind of plan you need.
Check out the prices of the various policies available in the
market.
Compare them and buy the plan as per your paying capacity.
Search for the individual or family policies available, as are
much more economical and provides higher
coverage for all the members of your family.
Normally a broker is the best option when buying a policy cover
as he can review all the terms of the
.
Preferably, avoid insurance policies which have tie-ups with any
particular hospitals or have specific
conditions for buying the plans.
The most important thing is to be truthful with the broker or
the insurance company and give them all the
proper details required for their procedures.
Rest will depend upon the insurance policy taken by you and the
way it would be helpful in the near future.
The better way is to maintain utmost care in your well-being and
your eating habits. This would keep you
away from the germs as well as harmful diseases.
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RELIGARE HEALTH INSURANCE
Religare Health Insurance Company Limited is a specialist health
insurer engaged in the distribution &
servicing of health insurance products. Its shareholders
comprise three strong entities: Religare Enterprises
Limited, a leading diversified financial services group based
out of India, Union Bank of India & Corporation
Bank.
Religare is promoted by the founders of Fortis Hospitals, which
owns or manages 68 hospitals in India; SRL
Di
Wellness, a nationwide chain of stores offering pharmacy and
wellness products. This association enables us
with an in-depth understanding of consumer behavior and
healthcare delivery, thus making us capable of
superior claims servicing to our customers.
Therefore their expertise in the spectrum of financial services,
healthcare delivery and preventive health
solutions, coupled with a robust distribution model, offers us a
unique edge to deliver and excel in a
business environment that is driven by serviceability &
scale.
Religare Health Insurance (RHI), the health insurance arm of
Religare Enterprises Limited (REL), is a
specialized Health Insurer offering health insurance services to
employees of corporates, individual
customers and for financial inclusion as well.
and is already operating out of 54 offices with employee
strength of 1200, servicing more than 2.6 million
lives across 300+ locations, including over 1100 corporates.
Besides REL, the other shareholders of Religare Health Insurance
are Union Bank of India & Corporation
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company has consistently invested in the effective application
of technology to deliver excellence in
customer servicing, product innovation and value-for-money
services.
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Religare Health Insurance currently offers products in the
retail segment for Health Insurance, Critical
Illness, Personal Accident, Top-up Coverage, International
Travel Insurance and Maternity along with Group
Health Insurance and Group Personal Accident Insurance for
corporates.
Religare Health Insurance brings to a distinct set of benefits
that make it an obvious choice as your
preferred health insurer -
Legacies in healthcare - Its promoters are also the founders of
Fortis hospitals, SRL
Diagnostics and Religare Wellness
excellence in healthcare among us, they are the best at what
they do!
Wide hospital network - Offer you the option of availing quality
treatment at more than 4100+ leading
hospitals across the country.
Just you & us - Should you file a claim, Religare will
attend to your request personally, no 3rd party in
between. Our processes leave no room for chance. So, when you
need us the most, you will find us right
beside you.
Best-of-breed products - Religare products have been designed
keeping only one aspect in mind -
-up
that ensures your sustained good health Religare have it
all!
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PRODUCT COMPARISION & RECKONOR PREPERATION
Religare offers many medical plans that are designed to meet
special health care needs of the customers. It
provides assurance when you need it the most. It offers a
complete range of health protection that includes
maternity plan, personal accident insurance, instant health
care, etc. It comes at affordable prices that make it
more attractive.
Health plans by Religare offers comprehensive health coverage to
you and your family. Religare health
insurance offers you a number of benefits such as nursing care,
surgeries, consultation fees, cashless
hospitalization for more than 24 hours, consultation fees,
diagnostic tests, hospital accommodation etc.
Plans by Religare Health Insurance Company
Assure: It is a type of comprehensive health insurance plan that
provides complete coverage on as many as 20
Critical Illnesses along with Personal Accident cover. As its
name defines, this plan provides complete
protection to make you feel secure.
Secure: a personal accident insurance plan that takes care of
your health with a broad range of features. This
plan also provides coverage on child education, surgical cover,
permanent disability, etc. it also provides
compensation for accidental death.
Enhance: it is basically a top up cover that will provide
additional health coverage to your existing health
insurance plan. You will get extra health safety with this
plan.
Care: This is a special health plan which offers unique features
such as auto recharge, cashless treatment,
health check-ups to insured persons and much more, this plan
believes in taking complete care of you and
your family.
Joy: Again a special cover that provides joyful experiences.
This plan is designed to cover hospitalization
expenses during pregnancy, maternity expenses and health care
needs as well.
Apart from health insurance plans, Religare Health Insurance
Company also provides travel insurance plans.
During the internship we prepared formulated excel sheets for
the use of Agents and new joiners easy access
and comparison of select competitors with Religare products easy
to access excel sheet which reduces the
search time and lag in answering the clients
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MAIN IMPORTANT FEATURES OF HEALTH INSURANCE:
Though the features may vary from insurer to insurer, some basic
features are:
Reimbursement for Hospitalization due to illness/disease/
surgery.
Reimbursement for Domiciliary Hospitalization expenses in lieu
of Hospitalization
Pre-hospitalization Expenses
Post-hospitalization Expenses
Ambulance Charges
Cashless Access
Income Tax Benefit etc
The main features to be considered in each of these policies are
highlighted below:
Care Religare Care health insurance is an insurance plan for
individuals and families that offer protection against
numerous ailments and diseases with auto-recharge option and no
limit on certain expenses. This is a basic
health insurance plan that offers the policyholder an affordable
way to meet health care costs. It provides a
lifetime cover for individuals and their families.
Features & Benefits of Religare Care:
Entry Age 91 days upwards; no maximum entry age.
Basis Individual / Family floater
Policy Period One/ Two or Three Years, Grace period: 30 days
Renewability Lifelong
Sum Assured Starting from Rs. 3 lakh to Rs. 60 lakh
Discount 10%discount on 3 year policy term and 7.5% Discount on
2 year policy terms.
Co-
Payments
Co-payment applicable is the person is more than 61 yrs at the
time of 1st buy of a policy less
than Rs. 3 lakh.
Coverage
Pre and Post-hospitalization: 30 days before you get admitted to
a hospital and 60 days after.
Ambulance expenses covered.
Organ donor medical expenses covered.
Domiciliary hospitalization covered.
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Daily allowance of Rs. 500 in policies of 3 lakh/4 lakh
Treatment anywhere for policies of 50 lakh/60 lakh
Benefits
170 day care treatments, plus hospitalization expenses if it
exceeds a day. Cashless treatment at
any of 4100+ network hospitals.
Auto-recharge of the entire sum insured of your policy.
Complimentary comprehensive health check-ups for primary policy
holder and members covered
as adult every year.
Super increase of 50% bonus in your sum insured every year for
each claim free year in addition
to 10%. Bonus keeps building up, up to 100% of your sum
insured.
30 days pre and 60 days post-hospitalization expenses
covered.
No cap on expenses like operation theatre, doctor/surgeon fees
& allied charges, to name a few.
Policies of Rs. 5 lakh onwards carry no room rent upper
limit.
Exclusions
Within 30 days of policy commencement, any / undergoing of
surgery / diagnosis of diseases,
occurrence of event, whose symptoms first occur.
Drug or alcohol use/misuse/abuse rehab therapy
Treatment of AIDS and HIV
Treatment arising from or traceable to pregnancy and childbirth,
miscarriage, abortion and its
consequences.
Self-inflicted injuries
Hospitalization due to war, riot, strike, nuclear weapons.
Congenital diseases.
Fertility treatments and IVF.
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Enhance Religare Enhance is a super top-up health insurance
policy that pays any additional claim amount beyond a certain
basic sum paid by customer out of his own finances. This
provides an additional safety net in the case of rising
prices of healthcare. This serves as a top-up policy to a basic
health plan. Coverage under a basic health policy may
not be adequate and a holder may not wish to take on a new
policy to supplement his requirement. In this case, a
top-up allows customers the option of enhancing protection
without adversely affecting his/her personal finances.
Features & Benefits of Religare Enhance
Entry Age 1 day upwards; no maximum entry age
Basis Individual / Family floater
Policy Period One/ Two or Three Years
Renewability Lifelong
Sum Assured
Enhance 1: Rs.1 lakh to Rs.25 lakhs Enhance 2: Rs.6 lakhs to
Rs.30 lakhs (chosen sum assured can be enhanced on renewal)
Sum assured is arrived as a multiple of the chosen
deductible.
Medical Screening
Required for entrants over 45 yrs. for coverage options of Rs.15
lakhs and above.
Deductible Enhance 1: Rs.1, 2, 3, 4 or 5 lakhs Enhance 2: Rs. 6,
7, 8, 9 or 10 lakhs
Discount 10% discount on 3 year policy term and 7.5% Discount on
2 year policy terms.
Co-Payments Co-payment applicable is the person is more than 61
yrs at the time of 1st buy of a policy less than Rs. 3 lakh.
Variants Enhance has the following variants: Variant 1: Sum
insured from Rs. 1 lakh to 25 lakh Deductible: Existing sum assured
or up to Rs. 1-5 lakh Variant 2: Sum insured from Rs. 6 lakh to 30
lakh
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Deductible: Existing sum assured or up to Rs. 6-10 lakh
Coverage
Pre and Post-hospitalization: 30 days before you get admitted to
a hospital and 60 days after. Ambulance expenses covered. Organ
donor medical expenses covered. Domiciliary hospitalization
covered. Single private room No limit on hospitalization expenses
upto sum insured Organ donor cover
No-claim based premium loading
Benefits
170 day care treatments, plus hospitalization expenses if it
exceeds a day. Cashless treatment at any of 4100+ network
hospitals. Complimentary comprehensive health check-ups for primary
policy holder and members covered as adult every year. 30 days pre
and 60 days post-hospitalization expenses covered.
No cap on expenses like operation theater, doctor/surgeon fees
& allied charges, to name a few.
- Covers treatment globally - Option to convert to Comprehensive
Health Insurance Plan, which
Exclusions
Within 30 days of policy commencement, any / undergoing of
surgery / diagnosis of diseases, occurrence of event, whose
symptoms first occur. Drug or alcohol use/misuse/abuse rehab
therapy Treatment of AIDS and HIV Treatment arising from or
traceable to pregnancy and childbirth, miscarriage, abortion and
its consequences. Self-inflicted injuries Hospitalization due to
war, riot, strike, nuclear weapons. Congenital diseases.
Fertility treatments and IVF.
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Assure Religare Assure health insurance is a critical insurance
plan for individuals that provide a lump sum benefit against
diagnosis of any of the 20 critical illnesses covered along with
accidental death benefits. Another variant of the health
insurance plans on offer; this provides additional coverage
targeting events generally excluded under basic plans i.e.
Critical Illnesses. Treatment of these ailments can prove to be
very expensive, going beyond the amounts due under a
regular health policy.
Features & Benefits of Religare Assure
Entry Age 18 years to 65 years
Basis Individual / Family floater
Policy Period One/ Two or Three Years
Renewability Lifelong
Sum Assured Starting from Rs. 3 lakh to Rs. 1.20 crore
Premium Starting from Rs. 1,522 for 5 lakh sum assured for 18-25
year old male
Discount 10%discount on 3 year policy term and 7.5% Discount on
2 year policy terms.
Co-Payments
No co-payment since lump sum benefit is paid on diagnosis
Coverage
Critical illness cover is a benefit plan where you get a lump
sum amount when diagnosed or operated for any of the below
specified critical illness: Cancer, Heart Valve Replacement,
Coronary Artery Bypass Graft, Bacterial Meningitis, Aplastic
Anemia, End Stage Renal Failure, Multiple Sclerosis, Benign Brain
Tumor, Major Organ Transplant Stroke, Paralysis, Myocardial
Infarction, Major Burns, Coma,
Accidental death cover Zero day survival period
Benefits A lump sum 10% of Benefit 1 or Benefit 2 Sum Insured
towards the education of your child (of age 24 years or less) if
you suffer from any Claim is payable under Benefit 1 or Benefit 2
Benefit 1: Payout of sum assured in case of diagnosis of any of 20
critical illnesses anytime during
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policy term Benefit 2: Death or permanent disability benefit if
within 12 months of injury No TPA; direct claim settlement Second
doctor opinion of an expert/doctor can be availed at no extra cost.
Tax exemption under laws of the Income Tax Act, 1961 (u/s 80D).
Exclusions
Any pre-existing illness. Any diagnosis of undergoing of surgery
/ diseases / occurrence of event, whose signs or symptoms first
occurs within 90 days of Policy Period Start date. Self-inflicted
injury (resulting from suicide, attempted suicide) Cosmetic &
aesthetic and obesity related treatment Tests and treatment
relating to infertility and in vitro fertilization. Expenses
arising out of or attributable to alcohol or drug use/misuse/abuse
Treatment of HIV/AIDS Miscarriage, Abortion, Pregnancy and
childbirth and its consequences Congenital disease
War, riot, strike, nuclear weapons induced hospitalization.
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Secure Personal Accident Insurance Religare Secure is an
accident insurance product from Religare Health Insurance that
provides a broad range of
features and benefits with top of the line service. Injury or
ailments can arise due to accidental fallouts, in which
case, the proposer or his/her family can run into a financial
crisis. To provide protection to insured members in case
of death or permanent disability caused by an accident, the
company offers this plan, made affordable through a
variety of coverage options.
Entry Age 18 years to 70 years for proposer. 91 days old to 24
years for children.
Renewability Lifetime
Sum Assured Rs.15, 20, 25, 30 or 50 lakhs or Rs.1, 2 or 3 crores
up to Rs.25 crores
Coverage
- Accidental Death: Chosen sum assured - Permanent Disablement
(Total/Partial) - Fractures: Rs.1 lakh to Rs.3 lakhs depending on
chosen coverage - Child Education: 10% of the chosen sum assured -
Major Diagnostic Tests: Rs.15,000 to Rs.50,000 - Disappearance
(min.1 yr.): Chosen sum assured - Mobility Cover: Rs.15,000 to
Rs.50,000 depending on chosen coverage - Burns: Rs.10 lakhs to
Rs.25 lakhs depending on chosen coverage - Daily Cash Allowance:
Rs.500 (max. 5 days) - Compassionate Visit - Rs.15,000 to Rs.50,000
- The following are covered only under coverage options of Rs.50
lakhs and above: Ambulance costs: Up to Rs.5,000 Nursing Care:
Rs.1,000 to Rs.1,500 per day (max.15 days) depending on chosen
coverage Reconstructive Surgery: Rs.10 lakhs to Rs.20 lakhs
depending on chosen coverage
Repatriation of Mortal Remains: Rs.2% of chosen sum assured up
to Rs.1 lakh.
Benefits Child Education in case of Death/Permanent
Disablement
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Joy Health Insurance Religare Joy offers parents with financial
assurance during one of the most important journeys of their lives
- the
birth of a new-born baby. Religare Joy offers new parents with a
product that tends to their maternity and health
needs. It not only covers hospital expenses during pregnancy but
also stand by their customers during the most
crucial phase of their lives. A comprehensive health insurance
package that targets pregnant women - giving them a
shield against hospitalization expenses through pregnancy and
also, addressing the varied maternity and health
related expenditures through this delicate duration. This policy
also has the new-born covered, from birth till the
baby is 90 days old.
Minimum Entry Age Maximum Entry Age
Adult- 18 years, Child- 1 day, New Born Baby- 1 day
Adult- 65 years, Child- 24 years, New Born Baby- 90 days
Policy Period 3 years
Renewability Lifetime
Sum Assured Rs. 3 lakhs to 5 lakhs
Cover Type Individual or Family Floater
Co-Payment 20% of the claim amount per the policy, for entrants
over the age of 61. The rest will be paid by the company.
Waiting Period
30 days for any illness (except accidents). 9 months waiting for
maternity. 2 years for specific treatments/illness. 4 years in
cases of pre-existing diseases.
30 days duration from policy expiry to renewal.
Benefits
Avail cashless hospitalization at 4100+ network hospitals across
India. Access combined benefits of hospitalization and maternity
insurance. Just 9 Months waiting period for maternity claims. Enjoy
100% inc - -born baby. Tax benefits & free look period of 15
days.
Benefits Plan offers the option of no-claim bonus equal to 100%
of the basic sum assured for policy durations of 3 years.
Only 9 month waiting period for maternity related claims.
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Day care treatment
In-patient care for hospitalisation with durations of at least
24 hours.
Cashless Treatment
Tax benefits offered with payment of premiums
Exclusions
Diagnosis of any pre-existing ailment or injury that was
diagnosed or contracted around 48hours before the issue of the
policy, non- allopathic treatment, expenses arising from
self-inflicted injury, attempted suicide, alcohol or drug use,
AIDS, congenital diseases, diseases contracted within the first
month of the start of the policy (except accidents), treatments
relating to infertility and in-vitro
fertilization, cost of spectacles/contact lenses, dental
treatment etc.
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Screenshot of comparison excel:-
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SEO & DIGITAL MARKETING ANALYSIS
The power of the Internet to help consumers discover, evaluate,
and purchase products has changed the way
they shop for almost everything from books and Appliances to
vacations and cars. The consumerization of
healthcare industry
A marketing plan is not a list of marketing ideas from which you
randomly select different concepts to test or
combine for trial-and-error experimentation. During our
Internship we were given tasks including analytics
data analysis and Similarweb analysis of Religare and its
competitors.
Google Analytics Data
Google Trends Analysis
Adwords & Banners
SimilarWeb Analysis
Google Analytics Data: -
Google Analytics is a freemium web analytics service offered by
Google that tracks and reports website
traffic. Google launched the service in November 2005 after
acquiring Urchin. Google Analytics is now the
most widely used web analytics service on the Internet.
Integrated with AdWords, users can now review
online campaigns by tracking landing page quality and
conversions (goals). Goals might include sales, lead
generation, viewing a specific page, or downloading a particular
file.
On the basis of Google analytics data excel sheets derived from
the Google Ad campaign was provided to us.
Based on which we were able to retrieve Top 5 sources for
Religare based on the no of Visits, new leads,
bounce rate and conversion rate for each of the organic and
Inorganic search for Religare.
Google Cost per Click being the most efficient and reliable
source since most customers use google to
search for the products
These sources are inclusive of paid searches and organic
searches were left out for the study to
understand the effectiveness of ad campaigns and return on ad
expenses.
https://en.wikipedia.org/wiki/Freemiumhttps://en.wikipedia.org/wiki/Web_analyticshttps://en.wikipedia.org/wiki/Googlehttps://en.wikipedia.org/wiki/Urchin_(software)https://en.wikipedia.org/wiki/AdWordshttps://en.wikipedia.org/wiki/Conversion_(marketing)
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Google Trends Analysis: -
Google Trends is a public web facility of Google Inc., based on
Google Search that shows how often a
particular search-term is entered relative to the total
search-volume across various regions of the world, and
in various languages. Google Trends also allows the user to
compare the volume of searches between two or
more terms. An additional feature of Google Trends is in its
ability to show news related to the search-term
overlaid on the chart, showing how new events affect search
popularity.
For the purpose Health and Travel related keywords were used in
google trends to understand the trends in
searches over the past year.
Looking at this trend it is clear that people use the keywords
such as Health Insurance, Policy, and Mediclaim
etc. most during the quarter Jan- Mar which is mainly due to Tax
filing and last minute rush to buy a health
insurance policy to save tax under section 80D of Income
tax.
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Data from Tourism India published by Indian government
Source: - Tourism.Gov.In
As per the Tourism department we could see an influx of tourist
Inbound and Outbound in India during April
September based on this we proposed to Religare to increase
their Spends in September mainly because
during this season Indian travelers are inclined to travel to
foreign destinations due to low tariffs and less
crowd in foreign destinations during this period.
Similarly peak season for Travel insurance has been during the
holiday season of May, September and
December where there has been an increase in searches for Travel
related searches in google. Based on this
data we can align our marketing spends and campaign on these
keywords and during the particular season.
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SimilarWeb Analysis: -
Similarweb Compare website traffic with SimilarWeb.com's
advanced traffic estimator tool. See any website's
traffic sources & uncover their online marketing strategies.
The SimilarWeb extension instantly reveals site
analytics data, including traffic and engagement stats with a
single click.
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Google Adwords & Banners Analysis: -
Google AdWords is an online advertising service that enables
advertisers to compete to display
brief advertising copy to web users, based in part on keywords,
predefined by the advertisers that might link
the copy to the content of web pages shown to users. Web pages
from Google and from partner websites are
designed to allow Google to select and display this advertising
copy. Advertisers pay when users divert their
browsing to seek more information about the copy displayed, and
partner websites receive a portion of the
income they generate. AdWords has evolved into Google's main
source of revenue.
Based on the Analysis of Google Trends, Google Analytics and
Similarweb keywords are chosen to get the best
out of Google Adwords to get the better results than the
competitors.
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Examples of Banner Ads of various competitors &
Religare:-
