SB COLLEGE OF MANAGEMENT STUDIES BANGALORE CENTRAL UNIVERSITY

SYNOPSIS

"GROWTH OF HEALTH INSURANCE SECTOR IN INDIA"

MASTER OF BUSINESS ADMINISTRATION

OF

BENGALURU CENTRAL UNIVERSITY

Submitted By

MIDHUN MOHAN

Reg. No. MB186671

Under the guidance of

MRS. L SREEVIDYA

SB COLLEGE OF MANAGEMENT STUDIES BANGALORE

CENTRAL UNIVERSITY
 SB COLLEGE OF MANAGEMENT STUDIES BANGALORE

Title of the study

“GROWTH OF HEALTH INSURANCE SECTOR IN INDIA"

INTRODUCTION OF THE TOPIC

Health insurance in India is a growing segment of Indian Economy. The Indian health system is one of the
largest in the world, with the number of people it concerns: nearly 1.3 billion potential beneficiaries. The
health industry in India has rapidly become one of the most important sectors in the country in terms of
income and job creation. In 2018, ten million Indian households (500 million people) do not benefit from
health coverage. In 2011, 3.9% of India's GDP was spent in the Health Sector According to the (WHO), this is
among the lowest of the (Brazil, Russia, India, China, South Africa) economies. Policies are available that
offer both individual and family cover. Out of this 3.9%, health insurance accounts for 5-10% of expenditure,
employers account for around 9% while personal expenditure amounts to an astounding 82%.In the year 2016,
the NSSO released the report “Key Indicators of Social Consumption in India: Health” based on its 71st round
of surveys. The survey carried out in the year 2014 found out that, more than 80% of Indians are not covered
under any health insurance plan, and only 18% (government funded 12%) of the urban population and 14%
(government funded 13%) of the rural population was covered under any form of health insurance.

REVIEW OF LITERATURE

ALLAHHAM (2013)
Allahham revealed that the consumer satisfaction for health services is highly depend upon price charged from
him or value delivered by health care institutions. Resea4rcher has established direct relationship with the
satisfaction level and brand loyalty in the research work done in the context of Syrian resident and Syrian health
care service providers. Healthcare organization in Syria wishing to achieve competitive advantage through
customer satisfaction must be focus on the determinants of patient's satisfaction such as service quality by
narrowing the gap between the expectations of the patients and perception.
JAIN AND LODHA (2012)
JAIN AND LODHA conducted survey about customer satisfaction for the general insurance. The study reveals
that there is good awareness regarding General Insurance products among the people of Rajasthan. Majority of
the customers were satisfied with the features and the cover provided by General insurance products to protect
against rising costs of expenses and to meet expenses related to any unexpected event. The satisfaction level of
consumers of Rajasthan is highly influenced by Quality of Service, Quality products, Knowledge of employees
& agents, Sincerity, and Promptness. The researcher is of the opinion that in the general insurance there is great
opinion of people.
FRONTISH(2012)
on conclusion of his longitudinal survey of health care insurance satisfaction concluded that overall satisfaction
with health coverage, traditional-plan of health insurance were more likely than consumer-driven health plans
or high-deductible health plans enrollees to be extremely or very satisfied with the overall plan in all years of
the survey. It is further revealed that satisfaction levels were trending up in most years of the survey among
consumer-driven health plans enrollees, and trending down among traditional-plan enrollees. Consumers or
insurers have dissatisfaction with out-of-pocket costs even after health insurance coverage or protection. Even
though main results are not matching with the observation in general as overall satisfaction rates, satisfaction
rates for out-of-pocket costs appear to be trending downward among those with traditional coverage and
upward for those with a consumer-driven health plans. Initial differences in satisfaction rates with respect to
quality of care disappeared between traditional plan and consumer-driven health plans enrollees, and there were
high satisfaction rates with respect to access to doctors regardless of plan type.
 SB COLLEGE OF MANAGEMENT STUDIES BANGALORE

NEED OF THE STUDY

The purpose of this study is to find out the Awareness, Preferences and Buying pattern of Health Insurance.
The Health insurance policies in India are achieving popularity day by day. The main objective of this study is
to identify the reasons and causes for the above said. The study addresses the awareness and buying pattern of
Health Insurance and scope of the private Health Insurance companies’ schemes. The outcome of the present
study is considered useful in guiding policy making and to help to knowing the complete process of Health
Insurance.

OBJECTIVES OF THE STUDY

 To study health insurance market and health finance in India

 To study various health insurance products available in India
 To study the growth of health insurance market the way of forward

SCOPE OF THE STUDY

This study aims to find out the reasons for growth of the Health insurance sector in India. This study also
focuses to find out the various Health insurance policies and its basic informations.

RESEARCH METHODOLOGY

Research is portrayed as human activity in light of fast application in the examination of matter.
The basic part for related research is finding, interpreting, and the change of strategies and
Structures for the improvement of human learning on a wide arrangement of dependable matters of
Our world and the universe. Research can use the keen procedure, however require not do in light
Of current conditions. Research is a systematic method of finding solutions to problems. It is
essentially an investigation, a recording and an analysis of evidence for the purpose of gaining
knowledge. According to Clifford woody, “research comprises of defining and redefining problem,
formulating hypothesis or suggested solutions, collecting, organizing and evaluating data.

SAMPLING

DATA COLLECTION:
SECONDARY DATA
Most of the information will be gathered through Secondary sources. The methods that will
be used to collect secondary data are books, research, newspapers, websites etc.

CHAPTER SCHEME

 Chapter 1- Introduction
 SB COLLEGE OF MANAGEMENT STUDIES BANGALORE

 Chapter 2- Methodology
 Chapter 3 – SWOC of research
 Chapter 4 – Outcome of the study
 Chapter 5 – Experiences, learning’s and conclusion

LIMITATITIONS OF THE STUDY

 Sometimes the respondents may not give information’s relating to my quarries.

 The most of the data collected through secondary data.
 The data collected and tabulated between four weeks, so the time is less for the research.
 The data collection is based on the topic; the research has certain limits for collecting data.
 Most of the data shared based on the topic only
 The samples are not taken by this research study.

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