Shankar.docx

“A STUDY ON CUSTOMER AWARENESS ON AROGYA INSURANCE IN STATE BANK OF INDIA,FIVE ROADS BRANCH, SALEM”

A SUMMER TRAINING REPORT Submitted by

B.SHANKARGANESH (Reg. No: 611117631094) In partial fulfillment for the award of the degree Of

MBA IN DEPARTMENT OF MANAGEMENT STUDIES KNOWLEDGE BUSINESS SCHOOL, SALEM

ANNA UNIVERSITY: CHENNAI 600 025 JULY-2018

ANNA UNIVERSITY: CHENNAI 600 025

BONAFIDE CERTIFICATE

Certified that this project report titled “A STUDY ON CUSTOMER AWARENESS ON AROGYA INSURANCE IN STATE BANK OF INDIA,FIVE ROADS BRANCH, SALEM” is the bonafide work of Mr.B.SHANKARGANESH, Reg.No:611117631094, II-MBA, Knowledge Business School Salem, who carried out the research under my supervision. Certified further that to the best of my knowledge the work reported herein does not form part of any other project report or dissertation on the basis of which a degree or award was conferred on an earlier occasion on this or any other candidate.

Submitted for Summer Training report Viva Voce Examination held on ------------------------------

Signature of the Supervisor

Signature of the Director

DECLARATION

I affirm that the Summer training report work titled “A STUDY ON

CUSTOMER

AWARENESS ON AROGYA INSURANCE IN STATE BANK OF INDIA,FIVE ROADS BRANCH, SALEM”BRANCH, SALEM” is being submitted in partial fulfillment for the award of MBA is the original work carried out by me. It has not formed the part of any other project work submitted for award of any degree or diploma, either in this Institution or any other University.

Signature of the Candidate

(B.SHANKARGANESH) Register No: 611117631094

I certify that the declaration made by the above candidate is true.

Signature of the Guide

Company Letter Head

Date:

TO WHOMSOEVER IT MAY CONCERN

This is to certify that Mr. B.SHANKARGANESH Register No: 6111763094 a Student of Knowledge Business School, Salem has competed his Project Work on (Title) “A STUDY ON CUSTOMER AWARENESS ON AROGYA INSURANCE IN STATE BANK OF INDIA, FIVE ROADS BRANCH , SALEM”

For a period of 1 Month from 11.06.2018 to 10.07.2018

During the Period his conduct and character has been found good

Authorized Signature Name Designation

ACKNOWLEDGEMENT

I would like to express my gratitude to Thiru.T.MARAPPAN, B.Lit., B.Ed. Secretary, KIOT, Trust, for giving me an opportunity and facility to complete this project.

I would like to extend my sincere thanks to Dr.P.SURESHKUMAR, B.Sc.(Agri.), M.Sc.(Agri.),MBA.,Ph.D.,M e n t o r

Director –Research & Industrial Consultancy–

KBSS for his extraordinary guidance which helped to complete the Project successfully.

I would like to express my deep sense of gratitude to Dr.A.STEPHEN,M.A.,MBA, and M.Phil. PGDHRM., Ph.D., Director –KBSS and faculty members of the institution.

I wish to extend my sincere gratitude to my guide D r . S . M U R A L I D H A R A N , M B A , M . P h i l . , P h . D . A s s o c i a t e P r o f e s s o r , Knowledge Business School, Salem for providing his full support behind this project.

I wish to extend my sincere gratitude to my external guide Mr. VINCENT ANTONY, Vice President, Ambalal Shares and Stock Brokerage Private Limited for his guidance and help to go through my project work in his esteemed organization.

B.SHANKARGANESH

TABLE OF CONTENTS CONTENTS Title page Bonafide Certificate Executive Summary / Abstract Declaration Acknowledgement Table of Contents List of Tables (if required) List of Figures (if required)

Page Number I II III IV V VI VII VIII

Chapters i. ii. iii.

iv. v. vi. vii. viii. ix. x. xi.

xii. xiii. xiv. xv. xvi. xvii. xviii.

Introduction of the Study Industry Analysis Company Profile a) Origin / Promoters’ Profile b) Vision, Mission, Objectives c) SWOT Objectives of the Study Statement of the Problem Limitation of the Study Organization Chart / Structure Various Functional Area Competitor Analysis Review of Literature Research Methodology a) Research Design b) Sampling Design c) Data Collection Method d) Statistical Tools Applied Data Analysis and Interpretation Finding Suggestions Conclusion Learning Outcome Appendix ( Questionnaire, Any other Supporting documents) References

1 5 10

15 16 25 26 28

30 50 51 52 53 x xi

LIST OF TABLES TABLE NO.

NAME OF THE TABLE

PAGE NO.

LIST OF CHARTS CHART NO.

NAME OF THE CHART

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ABSTRACT Health insurance as a tool to finance health care has very recently gained popularity in India. While health insurance has a long history, the upsurge in breadth of coverage can be explained by a serious effort by the Government to introduce health insurance for the poor in last four years. Objective of this study is to determine the types of health insurance prevalent in coastal Karnataka and to study its advantages in decreasing out of pocket expenditure. Methods: A cross sectional study was done among 450 patients by administering a validated questionnaire on health insurance with details, coverage amount, presence of APL or BPL card and utilization pattern with advantages to the patient from scheme. Results: Out of the 450 patients have been surveyed, 57% had availed health insurance. 35% of patients were benefited by sampoorna suraksha and 27.5% patients used KSHEMA health card. ESI and kadamba were least used. Unlimited slab was seen with aarogya bhagya and yashaswini schemes. 65% of APL category and only 35% of BPL had health insurance. 92.5% of the patients with health insurance surveyed used private hospitals for health assistance. In 25% of people, hospital visits increased due to health insurance. In 15% of patients the total expenditure on health has increased after obtaining health insurance. Conclusions: 57% of the patients had some form of health insurance. Sampoorna suraksha was the most commonly used scheme and health insurance was most commonly used for in patient care.

INTRODUCTION OF THE STUDY: Health care finance in India is largely based on Out of Pocket(OOP) expenditure and there is lack of prepayment options like medical insurance, especially in the rural sector.1 In the absence of insurance, a disease will directly increase the risk of impecuniousness

due to its high treatment costs and will adversely affect the welfare of the individuals as seen in Vietnam.2 Compared to other developing countries, India is spending about 6 percent of its GDP in healthcare sector which is considerably higher than others. Due to the failure of the system at various levels, low income people at the rural areas are not getting any of its benefits. These people are highly vulnerable for risks such as accidents, illness and injuries due to their poor socio- economic conditions compared to their urban counterparts and there is a need for providing financial protection to them.3,4 Government of India have taken serious effort in the last few years to overcome this obstacle, in the form of micro health insurances. INDUSTRY ANALYSIS INTRODUCTION TO BANKING SECTOR:

A bank is a financial institution that provides banking and other financial services to their customers. A bank is generally understood as an institution which provides fundamental banking services such as accepting deposits and providing loans. There are also nonbanking institutions that provide certain banking services without meeting the legal Banks are a subset of the financial services industry. A banking system also referred as a system provided by the bank which offers cash management services for customers, reporting the transactions of their accounts and portfolios, throughout the day. The banking system in India should not only be hassle free but it should be able to meet the new challenges posed by the technology and any other external and internal factors. For the past three decades, India’s banking system has several outstanding achievements to its credit. The Banks are the main participants of the financial system in India. Before the establishment of banks, the financial activities were handled by money lenders and individuals. At that time the interest rates were very high. Again there were no security of public savings and no uniformity regarding loans. So as to overcome such problems the organized banking sector was established, which was fully regulated by the government.

The organized banking sector works within the financial system to provide loans, accept deposits and provide other services to their customers. The Banking sector offers several facilities and opportunities to their customers. All the banks safeguards the money and valuables and provide loans, credit, and payment services, such as checking accounts, money orders, and cashier’s cheques. The banks also offer investment and insurance products. As a variety of models for cooperation and integration among finance industries have emerged, some of the traditional distinctions between banks, insurance companies, and securities firms have diminished. In spite of these changes, banks continue to maintain and perform their primary role—accepting deposits and lending funds from these deposits. COMPANY PROFILE: PROFILE OF STATE BANK OF INDIA ORIGIN OF STATE BANK OF INDIA: The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2nd June, Three years later the bank received its charter and was redesigned as the Bank of Bengal on 2nd January 1809. The Bank of Bombay on the 15th April 1840 and the Bank of Madras on 1st July 1843 followed the Bank of Bengal. These three banks were governed by Royal Charter, which were revised from time to time187. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right they retained until the formation of the Reserve Bank of India. The business of the banks was initially confined to discounting of bills, keeping cash accounts, receiving deposits and issuing and circulating cash notes. Loans were restricted to Rs.1 lakh and the period of accommodation confined to three months only. With the passing of the Paper Currency Act of 1861, the right of note issue of the presidency banks was

abolished and the Government of India assumed the sole power of issuing paper currency from 1 March 1862. None of the three banks had till then any branches although the charters had given them such authority. By 1876, the Bank of Bengal had eighteen branches including its head office; seasonal branches and sub agencies, the Banks of Bombay and Madras had fifteen each188. The Presidency Banks Act, which came into operation on 1st May 1876, brought the three presidency banks under a common statute and the banks. And Rs.72, 94 crore respectively and a network of 172 branches and more than 200 sub offices extending all over the country. A] origin/promoter’s profile: The Muthoot Pappachan Group has recently launched a new group health insurance scheme called ‘Health Guard’, which will be made available to all their customers. A few benefits offered under this scheme include reduced waiting periods, option to avail health checks every 2 claim-free years, over 140 day-care surgeries and treatments, education fund for children if the policyholder passes away due to an accident during the policy tenure, etc. The said policy will be available at Muthoot Fincorp branches across the country. The health scheme will be administered by Tata AIG General Insurance and has been designed by Muthoot Risk Insurance and Broking Services. It was reported that this policy provides a comprehensive coverage with a good number of features at a low premium. The revenues of the healthcare sector are expected to grow at the rate of 15% per annum, during the coming three fiscal years due to the rapid increase of health insurance coverage by way of government-sponsored schemes and products. While increasing demand will lead to expenditure, cash flow from other stable existing operations will support the credit profiles.

The number of individuals having some sort of a health insurance coverage has increased to 42 crore over the past three financial years. The increasing demand of health insurance is due to the changing lifestyles of people, rising awareness of health, and the increasing age of the population. Raghubar Das, the chief minister of Jharkhand, announced that the Chief Minister Health Insurance Scheme will be launched on 15 November in Ranchi, and state-wide on 28 November. Up to 57 lakh families are expected to be covered by this scheme. As per this scheme, Rs.50,000 will be allocated to secondary medical care, while Rs.2 lakh will be allocated to special medical care. The state government is also looking to improve the health/medical infrastructure in the state by setting up new multi-bedded hospitals and rolling out a fleet of new ambulances for the convenience of people. We understand that High Net-worth Individuals don’t like any compromise when it comes to healthcare, exclusively designed to meet special healthcare requirements of such individuals. With wider medical coverage option, HNIs can avail the best medical treatment from top medical experts.

B] VISSION, MISSION, OBJECTIVES: VISION :

Be the bank of choice for a transforming India.

MISSION: committed to providing simple, responsive and innovative Financial service.

OBJECTIVES:

     

Accept deposit Gives loans and advances Invests and borrow Deals in bill of exchange Deals in sliver and gold Deals in foreign currencies

 Underwrite issues  Housing schemes

C] SWOT ANALYSIS OF SBI : Strengths:  SBI is the largest bank in India in terms of market share, revenue and assets.  As per recent data the bank has more than 13,000 outlets and 25,000 ATM centers.  The bank has its presence in 32 countries engaging currency trade all over the world.  SBI has the first mover advantage in commercial banking service.  SBI has recently changed its vision and mission statements showing a sign of inclination towards new age banking services 127. Weakness:  Lack of proper technology driven services when compared to private banks.  Employees show reluctance to solve issues quickly due to higher job security and customers’ waiting period is long when compared to private banks.  The banks spends a huge amount on its rented buildings  SBI has the largest number of employees in banking sector; hence the bank spends a considerable amount of its income in employee’s salary compensation. Opportunities:  Mergers will result in expansion of market share to defend its number one position.

 SBI is planning to expand and invest in international operations due to good inflow of money from Asian Market.  Young and talented pool of graduates and B schools are in rise to open new horizon to so called “old government bank” 128.

Threats:  Net profit of the year has decline from 9166.05 in the year FY 2010 to 7,370.35 in the year FY2011.  This shows the reduce in market share to its close competitor ICICI.  Other private banks like HDFC, AXIS bank etc,  FDIs allowed in banking sector is increased to 49% , this is a major threat to SBI as people tend to switch to foreign banks for better facilities and technologies in banking service.  Other government banks like PNB, Andhra, Allahabad bank and Indian bank are showing.

OBJECTIVES OF THE STUDY:  To examine the awareness level of the respondents towards the health insurance companies and the health insurance policies this was provided by the health Insurers.  To find out the factors this influences the respondents in selecting particular health insurance company and health insurance policies.  To analyze the customers level of satisfaction towards the services rendered by the health insurance companies and the settlement of claims.  To find out the problems faced by the Health Insurance Policy Holders.  To offer suggestions based on the results of the study

STATEMENTS OF THE PROBLEM: The Life Insurance market in India was an under developed market that was only tapped by the state owned LIC till the entry of private insurers. Insurance industry, as on 1.4.2000, comprised mainly two players: the state insurers – Life Insurance Corporation of India and General Insurers, the General Insurance Corporation of India. In India, insurance is generally considered as a tax-saving device instead of its other implied long term financial benefits. Indian people are prone to investing in properties and gold followed by bank deposits. They selectively invest in shares also,but the percentage is very small. Even to this day, Life Insurance Corporation of India dominates Indian insurance sector.The penetration of life insurance products was 19 percent of the total 400 million of the insurable population. The state owned LIC sold insurance as a tax instrument, not as a product giving protection. Most customers were under insured with no flexibility or transparency in the products. With the entry of the private insurers the rules of the game have changed. Private sector players backed by foreign expertise have made the Indian insurance market more vibrant. The growing popularity of the private insurers shows in other ways. Twenty three private Life Insurance Companies have been registered since the year 2000 till now. They are coining money in new niches that they have introduced. The state owned companies still dominate segments like endowments and money back policies. But in the annuity or pension products business, the private insurers have already wrested over 33 per cent of the market. And in the popular unit-linked insurance schemes they have a virtual monopoly, with over 90 percent of the customers. LIMITATION OF THE STUDY: The reluctance of authorities at HEIs in India to participate &share knowledge and experiences in research of health insurance for students. Officers in Insurance Company& Third Party Administrator (TPA) were not enthusiastic to participate and provide opinions about SHIP. Responses to the questionnaire

circulated to Officers of Insurance Company and TPAs were limited. The responses for comparative study of insured and uninsured students in HEIs were obtained from the student community representing HEIs in India by recall method. The research study was concluded in a time frame of 2 years. To Make authentic recommendations further studies spanning a longer period of time may be more useful. Student Insurance plan evaluated by the researcher varied in terms of premiums and maximum benefits, with annual premiums for sum insured INR 50000 for Mediclaim and INR 100000 for Rail / Road Traffic Accident (RTA) Policy. The greatest challenge is in terms of finalizing SHIP for students in terms of sum insured amount with respect to rise in cost of health care.

ORGANISATION CHART/ STRUCTURE: This chapter provides a brief outline of the role and relevance of health insurance schemes and its implications for achieving universal health coverage by drawing evidence from global experiences. The broad and specific objectives of the study along with the data sources of the case studies have been presented. we intend to describe the design features of various health insurance schemes in the country, in terms of population coverage, benefit package, revenue collection, risk pooling and purchasing functions of various schemes. The institutional structure of different types of health insurance models is depicted. governance and regulatory issues relating to various health insurance schemes in the country. provides evidence of the underlying moral hazard, adverse selection and fraud associated with the existing insurance schemes. One of the key objectives of this study is to understand the financial sustainability and scalability of schemes. A critical view of the ongoing national and state-level schemes in respect to scalability and sustainability are presented. We conclude the study, with recommendations and forward. A snapshot of various features of health insurance schemes covered by this study.

VARIOUS FUNCTIONAL AREA: 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.Health insurance comes in a variety of types. These include traditional indemnity plans, which are becoming less common, and an array of managed care plans, including Health Maintenance Organizations and Preferred Provider Organizations. Both of the latter provide medical care on a prepaid basis, but differ in their delivery models, including by the degree of choice of provider that the member retains. Most health insurance plans have deductibles and copayments, 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.Insurance may be described as a social device to reduce or eliminate risk of life and property. 45 Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual insurance plan that exclusivelycovers healthcare costs and is called Health InsuranceSince 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 dependants. In short, healthcare insurance provides a cushion against medical emergencies.The concept of Insuranceis 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

COMPETITOR ANALYSIS In formulating business strategy, managers must consider the strategies of the firm's competitors. While in highly fragmented commodity industries the moves of any single competitor may be less important, in concentrated industries competitor analysis becomes a vital part of strategic planning. Competitor analysis has two primary activities, 1) obtaining information about important competitors, and 2) using that information to predict competitor behavior. The goal of competitor analysis is to understand:    

with which competitors to compete, competitors' strategies and planned actions, how competitors might react to a firm's actions, how to influence competitor behavior to the firm's own advantage.

Casual knowledge about competitors usually is insufficient in competitor analysis. Rather, competitors should be analyzed systematically, using organized competitor intelligence-gathering to compile a wide array of information so that well informed strategy decisions can be made. Competitor Analysis Framework Michael Porter presented a framework for analyzing competitors. This framework is based on the following four key aspects of a competitor:    

Competitor's objectives Competitor's assumptions Competitor's strategy Competitor's capabilitie

REVIWE OF Literature Imrana Qadeer (2013) written a paper “Universal Health Care in India: Panacea for Whom” in ‘Indian Journal of Public Health’. This paper examines the current notion of universal health care (UHC) in key legal and policy documents and argues that the recommendations for UHC in these entail further abdication of the State’s responsibility in health care with the emphasis shifting from public provisioning of services to merely ensuring universal access to services. Acts of commission (recommendations for public private partnership [PPPs], definition and provision of an essential health package to vulnerable populations to ensure universal access to care) and omission (silence maintained on tertiary care) will eventually strengthen the private and corporate sector at the cost of the public health care services and access to care for the marginalized. Thus, the current UHC strategy uses equity as a tool for promoting the private sector in medical care rather than health for all. Mir Parvez (2013) writes on “Satisfaction of Healthcare Professionals towards Performance Appraisal System (PAS)” in ‘Indian Journal of Applied Research’. In the current era of globalization, organizations need to focus on human resource performance appraisals to get maximum out of minimum. Research has revealed that the reliability of PAS increases if it is 65 properly linked with other HRD instruments and moreover helps in strategic decision making. The research paper tries to explore the satisfaction level of healthcare professional towards performance appraisal system. It has been found that the existing PAS needs to be re-engineered with other HRD instruments to bring the satisfaction among employees. Santoshkumar (2014) published an article entitled “Spatial Pattern of Primary Healthcare Services in Sonipat District 2012” in ‘PARIPEX: Indian Journal of Research’. The Present study covered Sonipat district (Haryana) located at 28o.98’N 77o.02’E. The study has been found out Spatial Pattern of Primary Healthcare Services in Sonipat District in 2012. Sonipat and Gohana have high primary healthcare services, Kharkhoda have moderate services and Ganaur have low primary healthcare services. There are many regions found by which the failure of referral mechanism in the public health care system.

CHAPTER-IV

RESEARCH OF METHODLOGY This study on acceptability and effectiveness of community based health insurance schemes (sbi) in tamilnadu, was carried out in salem district. The Manipal Arogya Suraksha and the arogya insurance were the two sbi schemes considered for the study operating in salem district. This chapter is a detailed account on how the study was carried out. This methodology describes the analysis process to assess the financial strength of the entity, measuring its ability to settle claims on policies underwritten according to the entity’s obligations. Both qualitative and quantitative aspects are analyzed to obtain a rating. Insurance companies are one of the oldest and most diverse branches within the financial sector, focusing on providing their policyholders with adequate means to face the risks incurred. Insurance companies cover different categories or areas of operation, including life insurance products, accident and illness-related insurance products including personal accidents, major medical and health insurance, and damage insurance products including civil and professional liability, marine and transportation insurance, fire, vehicle, credit, catastrophic risks, among many others. This leads to a varied operating structure, where each type of insurance is operated specifically, responding to the needs and limitations of each product. All countries have their own bodies charged with regulating and monitoring the operation of the insurance industry, through the application of rules that foster the healthy development of the companies operating in this industry . A] RESEARECH DESIGN:

 Research can be classified into two types, basic (theoretical) research and applied (practical research) research depends on its purpose and scope. 

Theoretical research aim to study a phenomenon based on theories and hypotheses. In theoretical research, empirical data is not necessary. Data

collection process depends heavily on studies of theories and hypotheses. The aim of theoretical research is to enhance knowledge.  The result of theoretical research does not bring immediate commercial benefit but instead, set up a foundation for future practical research. Practical research aims to find a solution for a practical matter based on study on empirical data.  Data collection process of practical research is performed mostly via surveys, questionnaires, interview observations and experiments. The result of practical research can bring immediate practical benefit or apply as guidelines for future use. This thesis will take a form of practical research because it illustrates the current usage of mobile banking apps in market. This thesis targets at studying customer behavior on mobile banking apps in order to find a potential development path for banks to approach their customers. The investigative subject of this thesis will be the end-users of different banks operation. b)

Sampling Design:

C] DATA COLLECTION METHOD: There are two types of methods for data collection – Primary and Secondary.  Primary data collection method involves collecting first-hand information through observation, interviews or questionnaires. While,  Secondary data collection method includes both – raw data and published sources such as journals, database, transcripts, books, etc.

Primary Data This study involves both data collection methods. Primary data collection helped to get fresh information directly from the smartphone application users, to study their awareness of smartphone application, adoption of smartphone application, usage pattern of smartphone application, preference of smartphone application and satisfaction from use of smartphone application. Primary data for this research was collected through self-designed structured questionnaire in both the form real and virtual. Secondary Data Through smartphone application business is in its emerging stage and a very recent occurrence, the study has also been supported by secondary data which involves scholarly research studies, books, articles, journals, transcripts, white papers, Government and other official websites and various other data from reliable sources. Every secondary source is cited wherever it is used as well as in the bibliography section.

D] STATISTICAL TOOLS APPLIED To arrange and interpret the collected data the following statistical tools were used. Chi-square method Chi-square analysis between of smart phone and mobile banking. Ho=there is no smart phone in mobile banking for uses mobile app. H1=there is smart phone in mobile banking for uses mobile app.

Table shows the data of smart phone in bank accounts of mobile banking of aspects.

TABLE-1 Who is your insurer?

INSURER

NO.OF.RESPONDENTS

%OF RESPONDENTS

PUBLIC COMPANY

40

40%

PRIVATE COMPANY

60

60%

TOTAL

100

100%

CHART-1 Who is your insurer?

INSURANCE

RELATIVES 29% INSURANCE OFFICAL’S 71%

TABLE-2 What type of Health Insurance Policy you have?

HEALTH INSURANCE POLICY

NO.OF.RESPONDENTS

% OF RESPONDENTS

INDIVIDUAL HEALTH INSURANCE

65

65%

GROUP HEALTH INSURANCE

20

20%

FAMILY FLOATER HEALTH 15 INSURANCE

15%

TOTAL

100%

100

CHART-2 What type of Health Insurance Policy you have?

HEALTH INSURANCE POLICY 50% 40% 30% 20% 10%

0% INSURANCE OFFICAL’S

RELATIVES FRIENDS

TABLE-3 What are the reasons for going in for health insurance policy? Rank from the following in the order of priority assigning 1 to most important and 6 to the least important? REASONS

NO.OF.RESPONDENTS

%OF RESPONDENTS

TAX PLANNING MEASURE

25

25%

TRAVELLING ABROAD

20

20%

EMPLOYER’S CONTRIBUTION

30

30%

AVAIL GOOD MEDICAL TREATMENT

25

25%

TOTAL

100

100%

CHART-3 What are the reasons for going in for health insurance policy? Rank from the following in the order of priority assigning 1 to most important and 4 to the least important

REASONS 50%

20%

20% 10%

INSURANCE OFFICAL’S

RELATIVES

FRIENDS

ADVERTISEMENTS

TABLE-4 Who persuaded you to purchase the policy? PURCHASE THE POLICY

NO.OF.RESPONDENTS

% OF THE RESPONDENTS

INSURANCE OFFICAL’S

50

50%

RELATIVES

20

20%

FRIENDS

10

10%

ADVERTISEMENTS

20

20%

TOTAL

100

100%

CHART -4 Who persuaded you to purchase the policy?

PURCHASE THE POLICY 60% 40% 20% 0% %OF RESPONDENTS

TABLE-5 What approach was adopted in seeking health insurance coverage?

HEALTH INSURANCE

NO.OF.RESPONDENTS

%OF RESPONPONDENTS

COVERAGE INSURANCE AGENT SEEKED YOU OUT YOU SEEKED OUT INSURANCE AGENT TOTAL

CHART-5

60

60%

40% 40 100

100%

What approach was adopted in seeking health insurance coverage

HEALTH INSURANCE COVERAGE

50% 25%

100%

50%

TABLE-6 Do you agree that the services provided by the insurance companies are delivered effectively?

INSURANCE COMPANIES

NO.OF.RESPONDENTS

%OF THE RESPONDENTS

YES

80

80%

NO

20

20%

TOTAL

100

100%

CHART-6 Do you agree that the services provided by the insurance companies are delivered effectively?

INSURANCE COMPANIES 50% 40% 30% 20%

10% 0% 100%

50%

TABLE-7 What is the chance of renewing the service after the expiry of present insurance policy?

PRESENT INSURANCE POLICY

NO.OF.RESPONDENTS

%OF THE RESPONDENTS

100%

50

50%

50%

25

25%

25%

25

25%

0%

0

0

TOTAL

100

100%

CHART-7 What is the chance of renewing the service after the expiry of present insurance policy?

PRESENT INSURANCE POILCY 100% 80% 60% 40% 20% 0% 1

2

3

4

TABLE-8 Are you willing to pay more for additional services, which can be included in your health insurance package?