Health Insurance.

INTRODUCTION OF
INSURANCE
N.M.D. College, Gondia 1

Insurance is a means of protection from financial loss. It is a form of risk management primarily
used to hedge against the risk of a contingent, uncertain loss.
An entity which provides insurance is known as an insurer, insurance company, or insurance

carrier. A person or entity who buys insurance is known as an insured or policyholder. The
insurance transaction involves the insured assuming a guaranteed and known relatively small
loss in the form of payment to the insurer in exchange for the insurer's promise to compensate
the insured in the event of a covered loss. The loss may or may not be financial, but it must be
reducible to financial terms, and must involve something in which the insured has an insurable
interest established by ownership, possession, or preexisting relationship. The insured receives a
contract, called the insurance policy, which details the conditions and circumstances under which
the insured will be financially compensated. The amount of money charged by the insurer to the
insured for the coverage set forth in the insurance policy is called the premium. If the insured
experiences a loss which is potentially covered by the insurance policy, the insured submits a
claim to the insurer for processing by a claims adjuster.
Health insurance:

Health insurance is a type of insurance coverage that pays for medical and surgical expenses
incurred by the insured. Health insurance can reimburse the insured for expenses incurred
from illness or injury, or pay the care provider directly.
Health insurance is insurance against the risk of incurring medical expenses among individuals.
By estimating the overall risk of health care and health system expenses, among a targeted
group, an insurer can develop a routine finance structure, such as a monthly premium or payroll
tax, to ensure that money is available to pay for the health care benefits specified in the insurance
agreement. The benefit is administered by a central organization such as a government agency,
private business, or not-for-profit entity. According to the Health Insurance Association of
America, health insurance is defined as "coverage that provides for the payments of benefits as a
result of sickness or injury. Includes insurance for losses from accident, medical expense,
disability, or accidental death and dismemberment"A health insurance policy is:
1. A contract between an insurance provider (e.g. an insurance company or a government)

and an individual or his/her sponsor (e.g. an employer or a community organization). The
contract can be renewable (e.g. annually, monthly)or lifelong in the case of private
insurance, or be mandatory for all citizens in the case of national plans. The type and
amount of health care costs that will be covered by the health insurance provider are
specified in writing, in a member contract or "Evidence of Coverage" booklet for private
insurance, or in a national health policy for public insurance.
2. Provided by an employer-sponsored self-funded ERISA plan. The company generally
advertises that they have one of the big insurance companies. However, in an ERISA
case, that insurance company "doesn't engage in the act of insurance", they just
administer it. Therefore, ERISA plans are not subject to state laws. ERISA plans are
governed by federal law under the jurisdiction of the US Department of Labor (USDOL).
The specific benefits or coverage details are found in the Summary Plan Description
(SPD). An appeal must go through the insurance company, then to the Employer's Plan
Fiduciary. If still required, the Fiduciary's decision can be brought to the USDOL to
review for ERISA compliance, and then file a lawsuit in federal court.
The individual insured person's obligations may take several forms:[2]

Premium: The amount the policy-holder or their sponsor (e.g. an employer) pays to the
health plan to purchase health coverage.
Deductible: The amount that the insured must pay out-of-pocket before the health insurer
pays its share. For example, policy-holders might have to pay a $500 deductible per year,
before any of their health care is covered by the health insurer. It may take several
doctor's visits or prescription refills before the insured person reaches the deductible and
the insurance company starts to pay for care. Furthermore, most policies do not apply co-
pays for doctor's visits or prescriptions against your deductible.
Co-payment: The amount that the insured person must pay out of pocket before the health
insurer pays for a particular visit or service. For example, an insured person might pay a
$45 co-payment for a doctor's visit, or to obtain a prescription. A co-payment must be
paid each time a particular service is obtained.
Coinsurance: Instead of, or in addition to, paying a fixed amount up front (a co-payment),
the co-insurance is a percentage of the total cost that insured person may also pay. For
example, the member might have to pay 20% of the cost of a surgery over and above a
co-payment, while the insurance company pays the other 80%. If there is an upper limit
on coinsurance, the policy-holder could end up owing very little, or a great deal,
depending on the actual costs of the services they obtain.
Exclusions: Not all services are covered. The insured are generally expected to pay the
full cost of non-covered services out of their own pockets.
Coverage limits: Some health insurance policies only pay for health care up to a certain
dollar amount. The insured person may be expected to pay any charges in excess of the
health plan's maximum payment for a specific service. In addition, some insurance
company schemes have annual or lifetime coverage maxima. In these cases, the health
plan will stop payment when they reach the benefit maximum, and the policy-holder must
pay all remaining costs.
Out-of-pocket maxima: Similar to coverage limits, except that in this case, the insured
person's payment obligation ends when they reach the out-of-pocket maximum, and
health insurance pays all further covered costs. Out-of-pocket maxima can be limited to a
specific benefit category (such as prescription drugs) or can apply to all coverage
provided during a specific benefit year.

Capitation: An amount paid by an insurer to a health care provider, for which the
provider agrees to treat all members of the insurer.
In-Network Provider: (U.S. term) A health care provider on a list of providers preselected
by the insurer. The insurer will offer discounted coinsurance or co-payments, or
additional benefits, to a plan member to see an in-network provider. Generally, providers
in network are providers who have a contract with the insurer to accept rates further
discounted from the "usual and customary" charges the insurer pays to out-of-network
providers.
Prior Authorization: A certification or authorization that an insurer provides prior to
medical service occurring. Obtaining an authorization means that the insurer is obligated
to pay for the service, assuming it matches what was authorized. Many smaller, routine
services do not require authorization.[3]
Explanation of Benefits: A document that may be sent by an insurer to a patient
explaining what was covered for a medical service, and how payment amount and patient
responsibility amount were determined.[3]
Prescription drug plans are a form of insurance offered through some health insurance plans. In
the U.S., the patient usually pays a copayment and the prescription drug insurance part or all of
the balance for drugs covered in the formulary of the plan. Such plans are routinely part of
national health insurance programs. For example, in the province of Quebec, Canada,
prescription drug insurance is universally required as part of the public health insurance plan, but
may be purchased and administered either through private or group plans, or through the public
plan.[4]
Some, if not most, health care providers in the United States will agree to bill the insurance
company if patients are willing to sign an agreement that they will be responsible for the amount
that the insurance company doesn't pay. The insurance company pays out of network providers
according to "reasonable and customary" charges, which may be less than the provider's usual
fee. The provider may also have a separate contract with the insurer to accept what amounts to a
discounted rate or capitation to the provider's standard charges. It generally costs the patient less
to use an in-network provider.

Objective:

1)To study the various aspects of the Health care industry in India with respect to the Marketing
segmentation, issues at hand and opportunities of growth.
2) To know Benifits of health insurance.
3)To study Various challenges
4) To find out which are the companies involved in.
5) To find out the developments in the General Insurance

HYPOTHESIS

Lack of awareness to people in india.
People unknown about benifits of health insurance.
Governments companies providing services in competitive rates.
Private companies have weak cash less network.

RESEARCH METHODOLOGY

The process used to collect information and data for the purpose of making business decisions.
The methodology may include publication research, interviews, surveys and other research
techniques, and could include both present and historical information. Methodology implies
more than simply the methods you intend to use to collect data. It is often necessary to include a
consideration of the concepts and theories which underlie the methods. For instance, if you
intend to highlight a specific feature of a sociological theory or test an algorithm for some aspect
of information retrieval, or test the validity of a particular system, you have to show that you
understand the underlying concepts of the methodology.
When you describe your methods it is necessary to state how you have addressed the research
questions and/or hypotheses. The methods should be described in enough detail for the study to
be replicated, or at least repeated in a similar way in another situation. Every stage should be
explained and justified with clear reasons for the choice of your particular methods and
materials.
There are many different ways to approach the research that fulfils the requirements of a
dissertation. These may vary both within and between disciplines. It is important to consider the
expectations and possibilities concerning research in your own field. You can do this by talking
to your tutors and looking at dissertations written by former students on your course.
TYPE OF RESEARCH
The type of research used in this project is a Descriptive research design. The major purpose of
descriptive research is a description of the state of the affairs, as it exists at present. Thus a
Descriptive study is a fact-finding investigation with adequate interpretation. It is the simplest
type of research. It focuses on particular aspects or dimensions of the problem studied. It is so
designed that it gathers descriptive information and provides information for formulating more
sophisticated studies. There is a cause effective relationship.
The criteria for selecting this particular design are that, the problem of the project must be
described and not arguable. The data collected is amenable to statistical analysis and has
accuracy and significance. It is possible to develop valid standards of comparison. It lends itself
to the verifiable procedure of collection and analysis of data.

Descriptive study objectives aim at identifying the various characteristics of a company problem
under study. It can reveal potential relationships between variables with exploratory research.
SAMPLING TECHNIQUE:
The sampling technique used is convenient sampling. It is also called as purposive sampling or
non-probability sampling. This sampling method involves purposive or deliberate selection of
particular units of the universe for constituting the sample, which represents the universe. When
population elements are selected for inclusion in the sample based on the ease of access, it can be
called as convenient sampling. Empirical field studies required collection of first hand
information and data pertaining to the units of study from the field.

SAMPLING DESIGN:
SAMPLING UNIT
The samples include various offices & shops in Bhandara&gondia city.
SAMPLE SIZE
The sample size for listing questionnaire of research is 100, and the sample size is broken down
in to two samples i.e. a sample size of 80 respondents from the offices and shops and the sample
size of 20 respondents from the customers.
SOURCES OF DATA COLLECTION:
Primary data:
The data was collected by using questionnaire with various coustomers and disscution with
seniors and branch manger , personal booklet which were separately conducted to know the
market awareness and market potential.
Secondary data:
The secondary data was collected from the company reports, broaches, manuals, text books and
Internet. The customer of 20 respondents was provided by the company for assessing the service
provided by a company.
RESEARCH LIMITATIONS:
This research is company- specific and confined only to bhandara city, the problem of
generalization becomes obvious Limited sample size is taken.

ANALYSIS OF DATA
1. Are you aware of Office insurance?
Table1:
Particulars No. Of respondents Percentages
Yes 67 83.75
No 0 0
Little Bit 13 16.25
Total 80 100
Source: Field Study
Interpretation:
The response given by respondents 83.75 are aware of office insurance and 16.25 know very
little about office insurance. This clearly shows that there is no proper advertisement reach to the
people.

2. If Yes, How do you come to know about Office Insurance?
Table 2:
Media No. Of Respondents Percentages
TV 40 50
News Paper 19 23.75
Agents 21 26.25
Total 80 100
Source: Field Study
Interpretation:
It is depicted from the chart that,
50% of respondents came to know through television.
23.75% of respondents came to know through newspapers.
26.25% of respondents came to know through agents
Major of the respondents came to know through television.

3. Which factor is important in your eye for purchasing insurance policy?
Table 3:
Factors No. Of Respondents Percentages
Company 43 53.75
Premium 17 21.25
Service 20 25
Total 80 100
Source: Field Study
Interpretation:
The chart depicts that 53.75% prefer company as an important factor where as 21.25%prefer for
premium and 25% prefer service as an important factor for purchase of insurance policy.

4. How many employees are there in your office?
Table 4:
Employees No. Of Respondents Percentages
More Than 5 53 66.25
More Than 10 17 21.25
More Than 20 10 12.5
Total 80 100
Interpretation:
The above chart shows that,

66.25% of respondents have more then 5,
21.25% of respondents have more then 10 and
12.5% of respondents have more then 20.

5. Would you like to have Office insurance?
Table 5:
Particulars No. Of Respondents Percentages

Yes 20 25
No 60 75
Total 80 100
Source: Field Study
Interpretation:
Out of 80 respondents, 25% of respondents want to have office insurance policy and 75% of
respondents dont want to have it. The above chart shows that there is a potential market for
office insurance products. Most of the respondents those who want to have office insurance are
of newly opened offices & shops.

6. If yes, Which Company Services do you prefer to avail?
Table 6:
Company No. Of Respondents Percentages
Iffco tokio 6 30
HDFC Chubb 0 0
NATIONAL INSURACE 7 35
NEW INDIA 3 15
United India 4 20
Total 20 100
Interpretation:
The chart depicts that, 30% of the respondents wants to avail services of Iffco tokio, 35% of
respondents want to prefer National insurace,20%of the respondents wants to prefer united India
and 15%wants to prefer services of new india. The data shows around 30% of people are
interested in taking insurance in Iffco tokio. It means there is an opportunity for company to
capture the market. Most of the respondents want to avail services in government companies.

8. Which product services you are planning to avail?
Table 8:
Product Services No. Of Respondents Percentages
Fire Insurance 10 50
Electronic Insurance 5 25
Burglary Insurance 3 15
All of Above 2 10
Total 20 100
Source: Field Study
Interpretation:
It is depicted from the chart that 50% of respondents trying to avail Fire insurance, 25% of
respondents planning to avail Electronic insurance,15% of respondents trying to avail Burglary
insurance and 10% of respondents trying to avail all Fire, Electronics and Burglary insurance
policies.

9. When you are going to have new insurance policy?
Table 9:
Within 15 Days 7 35
15 to 30 Days 13 65
30 to 60 Days 0 0
Total 20 100
Source: Field Study
Interpretation:
Out of 20 respondents, 35% of respondents wants to have insurance policy with in 15 days, 65%
of respondents wants to have with in 30 days.

10. How do you rate about services?
Table 10:
Opinion No. Of Respondents Percentages
Very Good 6 30
Good 9 45
Normal 4 20
Not Good 1 5
Total 20 100
Source: Field Study
Interpretation:
IFFCO TOKIO customers rated the services are as,
30% of respondents said very well
45% of respondents said well
20% of respondents said normal and
5% of respondents said not well.

11. How much premium are you paying now?
Table 11:
Amount No. Of Respondents Percentages
More Than 5000 4 20
More Than 10000 5 25
More Than 20000 11 55
Total 20 100
Source: Field Study
Interpretation:
The above chart depicts that

20% of respondents paying premium more then Rs.5000,
25% of respondents paying premium more then Rs.10000 and
55% of respondents paying more then Rs.20000.
Major of the respondents are paying more then Rs.20000 are of big offices and important
customers to the company.

12. Do you feel its really economical?
Table 12:
Particulars No. of Respondents Percentages
Yes 14 70
No 6 30
Total 20 100
Source : Field Study
Interpretation:
Customers believed of policy economical like this,
70% of respondents said YES.
30% of respondents said NO

13. Have you ever-contacted customer help desk?
Table 13:
Yes 16 80
No 4 20
Total 20 100
Source : Field Study
Interpretation:
The above chart depicts that
80% of respondents contacted customer help desk and
20% of respondents did not contact customer help desk.
15. For what reason you dial to our customer help desk?

Table15:
Product Related Inquiry 11 55
To Renew Policy 8 40
To Complaint 1 5
Total 20 100
Source: Field Study
Interpretation:
The customers dial up to customer help desk for the following reasons:
55% customer dial up for product related enquiry
40% customers dial up for to renew policy and
5% customers dial up for file a complaint.

4.5 Summary of findings
All respondents have awareness about office insurance.

Majority of respondents told they were come to know about office insurance through
television and agents.
Majority of respondents told employees are more then 5.
There is a market potential for office insurance products.
Majority of respondents believe in Government owned insurance companies.
There is a market potential for Iffco tokio office insurance products.
Majority of respondents told they are trying to avail Fire insurance and electronic
equipment insurance for their offices.
Most of the respondents said they are going to have insurance with in 15 to 30 days.
Majority of respondents told they have satisfaction with the service of the company. and
customer help disk.
Most of the customers told they dial to customer help disk for product related enquiry.
All general insurance policies are yearly renewal policies.
Premium amount for general insurance policy is low and it is not refundable.
Majority of respondents are frequently contacting customer help desk.
Majority of respondents told company is the main factor for purchasing insurance Policy.
Majority of respondents told their paying premium is economical.

Lets know in detail about Health Insurance Companies operating in India.
1. Apollo Munich Health Insurance Company Limited
It is a joint venture between Asias largest integrated healthcare provider Apollo hospitals Group
and Germany based Munich Health. The company works upon the thought of Lets
Uncomplicated and offers tailor-made mediclaim policies to individuals, family, senior citizen
and corporate.
Know More about: Apollo Munich Health Insurance
2. Star Health and Allied insurance Co Ltd
It is Indias first stand-alone health insurance company, dealing in personal accident, mediclaim
and travel insurance Due to its hassle-free and customer-friendly direct claim settlement, the

company was bestowed with "Claims Service Company of the year 2014 award among 28
General Insurance Companies who were also competing for the same title.
Know More about: Star Health and Allied Insurance
3. Future Generali India Insurance Company Ltd
Future Generali is a joint venture between Indias leading retailer Future Group and Italy-based
Generali Group. Catering to divergent needs of life and non-life insurance customers, the
company works towards imparting superior customer service through innovative insurance
products and services.
Know More About: Future Generali India Insurance
4. Bajaj Allianz General Insurance Co Ltd
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv
Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Bajaj Finserv Limited
holds 74% and the remaining 26% is held by Allianz, SE.
Know More About: Bajaj Allianz General Insurance Company
5. ICICI Lombard General Insurance Co. Ltd
ICICI Lombard General Insurance Co. Ltd. is a joint venture between ICICI Bank Limited,
Indias second largest bank and Fairfax Financial Holdings Limited, a Canada based diversified
financial services company engaged in general insurance, reinsurance, insurance claims
management and investment management. Since its inception, the company has been working
towards providing utmost satisfaction to its customers by offering customized insurance
solutions. In 2013, ICICI Lombard received the highest rating in terms of overall customer
satisfaction and was conferred with the title The Most Recommended Company in 2013
survey, which was organized by Dept. of Consumer Affairs, Ministry of Consumer Affairs to
assess customer satisfaction and quality of health insurance in India,

Know More about: ICICI Lombard General Insurance
6. Cigna TTK
Cigna TTK is established as a joint venture between Cigna, a global insurance company and
TTK Group, an Indian conglomerate. Incepted in 2012, Cigna TTK offers health insurance plans
to meet both individual and family health insurance needs.
Know More About: Cigna TTK Insurance
7. National Insurance Co Ltd
It is a government controlled undertaking and provides a wide gamut of insurance products,

including motor, health, personal and fire insurance.
Know More About: National Insurance
8. Iffco Tokio General Insurance Co Ltd
It is a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and its associates
and Tokio Marine and Nichido Fire Group, the largest listed insurance group in Japan.
Incorporated in 2000, Iffco Tokio General Insurance Co Ltd offers a wide array of non-life
insurance products that give complete coverage in those times when you need it most.
Know More About: IFFCO Tokio General Insurance
9. The New India Assurance Co Ltd
Headquartered in Mumbai, The New India Assurance Co. Ltd. is a nationalized general
insurance company operating in 22 nations. Founded in 1919, Indian operations of the country
today span across all Indian territories through 2097 offices..
Know More About: New India Assurance

10. The Oriental Insurance Co. Ltd
Incorporated in 1947, Oriental Insurance Co. Ltd. is a pioneer in laying down systems for smooth
functioning of the insurance sector. Headquartered in New Delhi, Oriental Insurance Co. Ltd. has
formulated various insurance products to cater needs of both urban and rural India. It is a central
government undertaking providing general insurance and has operations in Nepal, Kuwait and
Dubai.
Know More About: Oriental Insurance
11. Reliance General Insurance Co Ltd
It is one of the leading private insurance companies in India, with a market share of over 8%.
The company is offering insurance products for motor, health, travel and commercial.
Know More About: Reliance General Insurance
12. United India Insurance Co Ltd
After the nationalization of the business of United India Insurance Co. Ltd., the company has
grown by leaps and bounds and currently providing insurance coverage to over 1 crore
policyholders. The company has extensive insurance cover to offer from bullock carts to
satellites.
Know More About: United India Insurance
13. Royal Sundaram Alliance Insurance Co Ltd
It is a joint venture between Sundaram Finance, one of the most respected non-banking financial
institutions in India, and RSA, one of the oldest and the second largest general insurer in UK.
Royal Sundaram Alliance Insurance takes pride to be the first insurer to introduce cashless mode
of settlement for health claims in India. It is a preferred insurer of renowned automobile
manufacturing companies.
Know More About: Royal Sundaram General Insurance

14. Tata AIG General Insurance Co. Ltd.
Tata AIG General Insurance Company Limited is a joint venture between Tata Group and
renowned American International Group, Inc. Incepted in 2001, Tata AIG General Insurance
blends the Tata Groups leadership position in India and AIGs global presence as the worlds
eminent insurance and financial service organization. At present, Tata AIG General Insurance
Company is offering a wide range of general insurance products including health insurance,
motor insurance, travel insurance, lifestyle insurance as well as different specialized financial
lines.
Know More About: Tata AIG General Insurance
15. Cholamandalam MS General Insurance Co Ltd
Cholamandalam MS General Insurance Company Ltd. is a joint venture between Murugappa

Group and Mitsui Sumitomo Insurance Group of Japan. Cholamandalam MS is a private
company offering a wide range of insurance products including accident, engineering, health,
liability, marine, motor, property, travel and rural insurance for both individuals and corporate.
The company has over 105 branches and 9000 agents pan India.
Know More About: Cholamandalam MS General Insurance
16. HDFC ERGO General Insurance Co Ltd
HDFC ERGO General Insurance Company Limited is a 74:26 joint venture between HDFC
Limited, Indias leading Housing Finance Institution and ERGO International AG, the primary
insurance entity of Munich Re Group. The company is offering a complete range of general
insurance products varying from health, travel, motor, home and personal accident in retail
segment and customized products like liability insurance, marine and property in corporate
segment.
Know More About: HDFC ERGO General Insurance

17. Universal Sompo General Insurance Co Ltd
It is a joint venture of four Indian companies (with three banks and a FMCG company) and
Japanese general insurance provider, Sompo Japan Nipponkoa Insurance Inc. It is the largest
property and casualty insurance company in Japan and holding 26% stake in Universal Sompo
General Insurance Co. Ltd. The product range of the company is quite extensive which offers
insurance coverage for health, motor and commercial purpose.
Know More About: Universal Sompo General Insurance
18. Bharti AXA General Insurance Co Ltd
It is a joint venture between Bharti Enterprises of India, a pivotal Indian business group and
AXA group of Europe, a world leader in financial protection. Started its operations in 2008, the
company currently has 59 branch offices throughout the country. Moreover, it is the first general
insurance company to get dual certifications of ISO 9001:2008 and ISO 27001:2005 within first
year of its operations in 2009.
Know More About: Bharti AXA General Insurance
19. SBI General Insurance Company Ltd
SBI General Insurance Company Limited is a joint venture between State Bank of India and
Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG the remaining
26%. SBI General follows a viable multi-distribution model, encompassing broking & retail
direct channels, agency and bancassurance. Currently, SBI Generals distribution family includes
more than 10,000 IRDA certified SBI & associate bank employees and over 4800 agents. At
present, SBI General Insurance Company covers travel, health, motor, personal accident and
home insurance for individuals and group personal accident, group health, marine package,
construction & engineering for businesses.
Know More About: SBI General Insurance

20. Raheja QBE General Insurance Co Ltd
Raheja QBE General Insurance Company Limited is a joint venture general insurance company
promoted by Prism Cement Limited, India and QBE Holdings (AAP) Pty Limited, a wholly
owned subsidiary of QBE Insurance Group Limited, Australia. Raheja QBE General Insurance
Company offers a complete array of personal line products which are specifically designed to
meet bourgeoning needs of families and individuals. The companys divergent corporate
insurance solutions safeguard a business from unforeseen circumstances.
Know More About: Raheja QBE General Insurance
21. MAX Bupa Health Insurance Company Ltd
MAX Bupa Health Insurance Company is formed after a joint venture between Max India
Limited and UK based Bupa Finance PLC, UK. The perfect combination of both global expertise
and local knowledge in healthcare and insurance makes MAX Bupa the right choice when it
comes to safeguarding the health of your family.
Know More About: Max Bupa Health Insurance
22. L & T General Insurance Co Ltd
L & T General Insurance Company Limited (L & T Insurance) is a wholly owned subsidiary of
Larsen & Toubro Limited. The product range of L & T Insurance is quite wide which includes
motor insurance, health insurance, home insurance, SME insurance and corporate insurance.
Know More About: L&T General Insurance
23. Religare Health Insurance Co Ltd
It is a specialist health insurance provider engaged in distribution of health insurance products.

The Religare enterprises, Corporation Bank and Union Bank of India are strong shareholders of
the company. Promoted by founders of Fortis Hospitals, Religare Health Insurance Co. Ltd. is
excelling in a business environment that is driven by serviceability.

24. Liberty Videocon General Insurance
The company comes in existence after the joint venture between Videocon Group and the US-
based Liberty Mutual Insurance Group. The personal insurance segment includes two wheeler,
private car and health insurance, while corporate policies liabilities insurance, engineering,
property and fleet insurance.
Know More About: Liberty Videocon General Insurance
25. Export Credit Guarantee Corporation of India Ltd. (ECGC)
Export Credit Guarantee Corporation of India Ltd. (ECGC) is an enterprise managed and owned
by the Indian Government. It is a provider credit risk insurance covers to exporters against the
losses they incur in export of goods and services. It also offers Export Credit Insurance covers to
banks and financial institutions or India and Overseas Investment Insurance to Indian companies
investing in joint ventures abroad.
Know More About: Export Credit Guarantee Corporation
26. Agriculture Insurance Co. of India Ltd.
Incorporated on 20th December, 2002 under the Indian Companies Act 1956, Agriculture
Insurance Co. of India Ltd. was set up with a vision to accelerate economic momentum of the
nation by bringing financial stability in the rural areas and launch farmer-friendly insurance
plans to cover all the agricultural and related risks. Improve delivery and service of agricultural
insurance to bring the poorest farmers of remote areas under the umbrella of insurance in an
economic manner.
Know More About: Agriculture Insurance
27. Shriram General Insurance Company
Established in 1974, Shriram General Insurance Company is a joint venture between Shriram
Group and South Africa based Sanlam Limited. Shriram Groups holds a 74% stake in the

company while the remaining 26% shares are held by Sanlam Limited. With over 9.5 million
customers and more than 45,000 employees across 2400 branches in India, the company earns a
net profit of over Rs. 15 billion and worth Rs. 60,000 crores of assets under management.
Know More About: Shriram General Insurance
28. Magma HDI General Insurance Company Limited
Magma HDI General Insurance Co Ltd. is a joint venture between Magma Fincorp Ltd, Kolkata
and HDI-Gerling Industrie Versicherung AG Germany. Magma HDI General Insurance offers
various kinds of insurance such as Fire Insurance, Motor Insurance, Liability Insurance, Marine
Insurance, Engineering insurance, and a lot more.
Know More About: Magma HDI General Insurance
Health insurance promotion

Simple Health insurance leaflets in hindi.
Posters/ Banners etc
Policy details, comparisons, premium charts, claim procedure.
Documentation Assistance
Insurance Help Desk.

Health insurance market in india:
Faster growing segment (avg 20% growth)

Growth expectedby 2017 40,000cr
28 companies offering health insurance
100+ types of medical insurance policies
Potential market: semi-urban area.
Second largest service sector employer in the country.

Issues for insurance companies:
High claim ratio -around 140%

Low level of consumer awerness
Limited knowledge for staff/agents.
Issues for insurance PROVIDERS:
Lack of proper communication between TPA'S & Hospital.

Delay in settlements of claim.
Lack of traning support from insurers as well as TPA'S.
PRE-EXISTING diseases disputes between consumer &tpa's.
Different insurance companies different policy,term etc.
Challenges:
Lack of awareness
Lack of Trust among People
Lack of regulations
Expensive Products

Benifits of health insurance:

FINDINGS

People are conscious of health care but mostly unaware of health insurance.
Hospital are right place to creating awerness.

SUGGESTION

Attract more FDI investment
Student exchange programmers
More special medical schemes
Branding Healthcare Industry
Preserve and promote Ayurvedic Medical System
Telemarketing and social marketing
Seminars and workshop (build awareness)
Tele calling: Converting all the leads given by Manager in appointments.
To make presentations with clients.
Collection previous policy details, so that we can give competitive quotation.
Preparation of customer feedback report about our companys products and

services.

Essentials of Marketing Reddy and Appaniah
Insurance institute of india
India Today
Business World and Money Regulator.
Insurance information
News Papers
The Times of India

The Economic Times
The Business Standards
INTERNET
www.google .com
www.irda.com
www.iib.com
www.wikipedia.com

Health Insurance.

Diunggah oleh

Informasi Dokumen

Hak Cipta

Format Tersedia

Bagikan dokumen Ini

Bagikan atau Tanam Dokumen

Opsi Berbagi

Apakah menurut Anda dokumen ini bermanfaat?

Apakah konten ini tidak pantas?

Hak Cipta:

Format Tersedia

Health Insurance.

Diunggah oleh

Hak Cipta:

Format Tersedia

INTRODUCTION OF

N.M.D. College, Gondia 1

An entity which provides insurance is known as an insurer, insurance company, or insurance

N.M.D. College, Gondia 2

1. A contract between an insurance provider (e.g. an insurance company or a government)

The individual insured person's obligations may take several forms:[2]

N.M.D. College, Gondia 3

N.M.D. College, Gondia 4

N.M.D. College, Gondia 5

N.M.D. College, Gondia 6

2) To know Benifits of health insurance.

3)To study Various challenges

4) To find out which are the companies involved in.

5) To find out the developments in the General Insurance

N.M.D. College, Gondia 7

N.M.D. College, Gondia 8

N.M.D. College, Gondia 9

N.M.D. College, Gondia 10

N.M.D. College, Gondia 11

N.M.D. College, Gondia 12

SOURCES OF DATA COLLECTION:

N.M.D. College, Gondia 13

1. Are you aware of Office insurance?

Source: Field Study

N.M.D. College, Gondia 14

N.M.D. College, Gondia 15

N.M.D. College, Gondia 16

The above chart shows that,

N.M.D. College, Gondia 17

Particulars No. Of Respondents Percentages

N.M.D. College, Gondia 18

N.M.D. College, Gondia 19

N.M.D. College, Gondia 20

N.M.D. College, Gondia 21

Opinion No. Of Respondents Percentages

N.M.D. College, Gondia 22

The above chart depicts that

N.M.D. College, Gondia 23

Particulars No. of Respondents Percentages

N.M.D. College, Gondia 24

Particulars No. Of Respondents Percentages

N.M.D. College, Gondia 25

N.M.D. College, Gondia 26

All respondents have awareness about office insurance.

N.M.D. College, Gondia 27

1. Apollo Munich Health Insurance Company Limited

Know More about: Apollo Munich Health Insurance

2. Star Health and Allied insurance Co Ltd

N.M.D. College, Gondia 28

Know More about: Star Health and Allied Insurance

3. Future Generali India Insurance Company Ltd

Know More About: Future Generali India Insurance

4. Bajaj Allianz General Insurance Co Ltd

Know More About: Bajaj Allianz General Insurance Company

5. ICICI Lombard General Insurance Co. Ltd

N.M.D. College, Gondia 29

Know More About: Cigna TTK Insurance

7. National Insurance Co Ltd

It is a government controlled undertaking and provides a wide gamut of insurance products,

Know More About: National Insurance

8. Iffco Tokio General Insurance Co Ltd

Know More About: IFFCO Tokio General Insurance

9. The New India Assurance Co Ltd

Know More About: New India Assurance