A STUDY ON AWARENESS OF HEALTH INSURANCE PRODUCTS AND

CLAIM SETTLEMENT PROCESS WITH REFERENCE TO THE

UNITED INDIA INSURANCE COMPANY LIMITED
PROJECT REPORT

Submitted in partial fulfillment of the requirements

for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION

By
MD MUBARAK HUSSAIN
(Regd. No: 12395019)

Under the Guidance of

Dr. M. Dharmalingam, M.B.A, MCA, M.Phil, Ph.D.

Associate Professor

DEPARTMENT OF MANAGEMENT
PONDICHERRY UNIVERSITY
KARAIKAL CAMPUS
KARAIKAL – 609 605
2013-2014
 CERTIFICATE

This is to certify that Mr. MD MUBARAK HUSSAIN, Reg. No.12395019

has completed a summer project titled “A study on awareness of Health
Insurance products and claim settlement process” with reference to the
United India Insurance Company Limited in partial fulfillment of the
requirements for the award of MBA Degree in Insurance Management
of Pondicherry University, Karaikal Campus during the academic year
2012-2014 under my supervision and guidance.

(Prof. Lalitha Ramakrishnan) (Dr. M. Dharmalingam)

Head of the Department Faculty guide

Mr. MD MUBARAK HUSSAIN

Register number: 12395019

Department of Management

Pondicherry University

Karaikal Campus

Karaikal – 609605
 DECLARATION

I hereby declare that the project entitled “A study on awareness of Health

Insurance products and claim settlement process” with reference to the United
India Insurance Company Limited is carried out Pondicherry University in
partial fulfillment of the requirements for the award of the degree of Master
of Business Administration in Insurance Management carried out under the
guidance of Dr. M. Dharmalingam, Associate Professor

Department of Management from 14TH MAY to 08TH JULY 2013 is my original

work and that no part of it has been submitted for any degree, diploma or
any other similar title.

Date:

Place: Karaikal Mr. MD MUBARAK HUSSAIN

 CERTIFICATE

Submitted for viva-voce examination held at Pondicherry University on

……………………………

Internal Examiner External

Examiner

1.

2.
 ACKNOWLEDGEMENT

This project has been a great learning experience for me and I would like to
express my gratitude towards all the people who guided me throughout and
without whose guidance and support, this project would not have been
completed successfully.

I consider my privilege for giving me the opportunity to work with United

India General Insurance Company I express deep sense of gratitude to my
project guide Mr. Loveleen Awasthi(Senior Divisional Manager) for his co-
operation, assistance and guidance.

I am highly indebted to my faculty members in particular to the H.O.D Prof.

Lalitha Ramakrishnan and my guide Dr. M. Dharmalingam for their
support and encouragement.

My sincere gratitude to all of staff who helped and gives their assistant to me
during my project. Especially I want to give thanks to Mr. Rajveer Singh, Mr.
A. Hoda (General Manager) and Mrs. Asha Nair for their guidance
supervision and valuable opinion which helped me lot at the completion of
this project report.

I want to express my heartfelt thanks to Dr. S.K. Roy (Regional Manager)

who helped me to make industrial relations.

Special thanks to Mr. Shaad A Siddiqui, Mr. Syed Irfan Shafi, Syed Manzer
Ali Rizvi, and Mr. Gunjan Kumar for their support and encouragement,
which helped me lot for completion of this project report.
I also want to keep record my heart-felt thanks to my Father Late MD
Nazimuddin, my family members and friends for their moral support.

MD MUBARAK HUSSAIN
 CONTENTS
CHAPTER
NO.
INDEX PAGE NO.

1 INTRODUCTION 1-9
1.1 Executive Summary of General Insurance 2
business

1.2 Industry Profile 4

1.3 Important milestones in general insurance 6
1.4 Insurance sector reforms 6

1.5 IRDA 7

1.6 Insurance Companies operating in India 8

2 COMPANY PROFILE 10-14

2.1 About the company 11

2.2 Recent Developments 11

2.3 Profit and Performance 11

2.4 Future Plans 12

2.5 Awards and recognitions 13

2.6 Vision & Mission 13

2.7 Top Management 14
3 RESEARCH METHODOLOGY 15-17
3.1 Need of the study 16
3.2 Purpose of the study 16
3.4 Objectives of the study 16
3.5 Limitations of the study 16
3.6 Sample size 16
3.7 Data collection 17
3.8 Methods / tools of analysis 17
4 CLAIM SETTLEMENT PROCESS 18-23
4.1 Introduction 19

4.2 Appointment of Surveyor 19

4.3 Appointment of Investigator 20

4.4 Processing of Claims 20

4.5 Co Insurance 21
4.6 Close Proximity Cases 21
4.7 Rectification of policy after a loss 21
4.8 Repudiation of Claims 21
4.9 Re-opening of Claim files 22
4.10 How do I file a claim 22
4.11 Cashless Claim 22
4.12 Reimbursement Claim 22
4.13 Documents required for processing of the claim in a Health 23
Policy
4.14 Documents required for processing of the claim in a Critical 23
Care Policy
5 DATA ANALYSIS AND INTERPRETATION 24-46
5.1 Percentage Analysis 25
Correlation Analysis 33
Chi- Square 35
5.2 Findings 39
5.3 Conclusion 40
5.4 Suggestions 40
5.5 Managerial Implications 41
5.6 Bibliography 42
Appendix 43
5.7 Questionnaire 44
 List of Tables
Sr. No. Table No Page No.
1 Table No 1 25
2 Table No 2 26
3 Table No 3 27
4 Table No 4 28
5 Table No 5 29
6 Table No 6 30
7 Table No 7 31
8 Table No 8 32
9 Table No 9 33
10 Table No 10 34
11 Table No 11 35
12 Table No 12 36
13 Table No 13 37
14 Table No 14 37
15 Table No 15 38
16 Table No 16 38
 Chapter I
Introduction

Executive Summary of General Insurance

business

 Industry Profile

 Important milestones in general insurance

industry

 Insurance sector reforms

IRDA
Insurance Companies operating in India

1
Executive Summary of General Insurance business

The service industry is one of the fastest growing sectors in India today. The upcoming
sectors which are really showing the graph towards upwards are - Telecom, Banking, and
Insurance. These sectors really have a lot of responsibility towards the economy. Amongst the
above-mentioned areas insurance is one sector, which took a lot of time in positioning itself.

Insurance in India had its origins in the United Kingdom with the establishment of a
British firm, the Oriental Life Insurance Company in 1818 in Calcutta, followed by the Bombay
Life Assurance Company in 1823, the Madras Equitable Life Insurance Society in 1829 and the
Oriental Life Assurance Company in 1874. However, till the establishment of the Bombay
Mutual Life Assurance Society in 1871, Indians were charged an extra premium of up to 20% as
compared to the British. The first statutory measure in India to regulate the life insurance
business was in 1912 with the passing of the Indian Life Assurance Companies Act, 1912 (“Act
of 1912”) (which was based on the English Act of 1909). Other classes of insurance business
were left out of the scope of the Act of 1912, as such kinds of insurance were still in rudimentary
form and legislative controls were not considered necessary.

General insurance on the other hand also has its origins in the United Kingdom. The
first general insurance company Triton Insurance Company Ltd. was promoted in 1850 by
British nationals in Calcutta. The first general insurance company established by an Indian was
Indian Mercantile Insurance Company Ltd. in Bombay in 1907. Eventually, with the growth of
fire, accident and marine insurance, the need was felt to bring such kinds of insurance within the
purview of the Act of 1912. While there were a number of attempts to introduce such legislation
over the years, non-life insurance was finally regulated in 1938 through the passing of the
Insurance Act, 1938 (“Act of 1938”). The Act of 1938 along with various amendments over the
years continues till date to be the definitive piece of legislation on insurance and controls both
life insurance and general insurance. General insurance, in turn, has been defined to include “fire
insurance business”, “marine insurance business” and “miscellaneous insurance business”,
whether singly or in combination with any of them.

On January 19, 1956, the management of life insurance business of two hundred and
forty five Indian and foreign insurers and provident societies then operating in India was taken
over by the Central Government. The Life Insurance Corporation (“LIC”) was formed in Sept
2
ember 1956 by the Life Insurance Corporation Act, 1956 (“LIC Act”) which granted LIC the
exclusive privilege to conduct life insurance business in India. However, an exception was made
in the case of any company, firm or persons intending to carry on life insurance business in India
in respect of the lives of “persons ordinarily resident outside India”, provided the approval of the
Central Government was obtained. The exception was however not absolute and a curious
prohibition existed. Such company, firm or person would not be permitted to insure the life of
any “person ordinarily resident outside India”, during any period of their temporary residence in
India. However, the LIC Act, 1956 left outside its purview the Post Office Life Insurance Fund,
any Family Pension Scheme framed under the Coal Mines Provident Fund, Family Pension and
Bonus Schemes Act, 1948 or the Employees' Provident Funds and the Family Pension Fund Act,
1952.

The general insurance business was also nationalized with effect from January 1,
1973, through the introduction of the General Insurance Business (Nationalisation) Act, 1972
(“GIC Act”). Under the provisions of the GIC Act, the shares of the existing Indian general
insurance companies and undertakings of other existing insurers were transferred to the General
Insurance Corporation (“GIC”) to secure the development of the general insurance business in
India and for t he regulation and control of such business. The GIC was established by the
Central Government in accordance with the provisions of the Companies Act, 1956 (“Companies
Act”) in November 1972 and it commenced business on January 1, 1973. Prior to 1973, there
were a hundred and seven companies, including foreign companies, offering general insurance in
India. These companies were amalgamated and grouped into four subsidiary companies of GIC
viz. the National Insurance Company Ltd. (“National Co.”), the New India Assurance Company
Ltd. (“New India Co.”), the Oriental Insurance Company Ltd. (“Oriental Co.”), and the United
India Assurance Company Ltd. (“United Co.”). GIC undertakes mainly re-insurance business
apart from aviation insurance. The bulk of the general insurance business of fire, marine, motor
and miscellaneous insurance business is under taken by the four subsidiaries.

3
Industry Profile:

The concept of insurance has been prevalent in India since ancient times. Overseas
traders practiced a system of marine insurance. The joint family system, particular to India, was a
method of social insurance of every member of the family on his life. The law relating to
insurance has gradually developed, undergoing several phases from nationalization of the
insurance industry to the recent reforms permitting entry of private players and foreign
investment in the insurance industry. The Constitution of India is federal in nature in as much
there is division of powers between the Centre and the States. Insurance is included in the Union
List, wherein the subjects included in this list are of the exclusive legislative competence of the
Centre. The Central Legislature is empowered to regulate the insurance industry in India and
hence the law in this regard is uniform throughout the territories of India. The development and
growth of the insurance industry in India has gone through three distinct stages.

1. Formation of the Insurance Industry in India

Insurance law in India had its origins in the United Kingdom with the establishment of a British
firm, the Oriental Life Insurance Company in 1818 in Calcutta, followed by the Bombay Life
Assurance Company in 1823, the Madras Equitable Life Insurance Society in 1829 and the
Oriental Life Assurance Company in 1874. However, till the establishment of the Bombay
Mutual Life Assurance Society in 1871, Indians were charged an extra premium of up to 20% as
compared to the British. The first statutory measure in India to regulate the life insurance
business was in 1912 with the passing of the Indian Life Assurance Companies Act, 1912 (“Act
of 1912”) (which was based on the English Act of 1909). Other classes of insurance business
were left out of the scope of the Act of 1912, as such kinds of insurance were still in rudimentary
form and legislative controls were not considered necessary.

General insurance on the other hand also has its origins in the United Kingdom. The first general
insurance company Triton Insurance Company Ltd. was promoted in 1850 by British nationals in
Calcutta. The first general insurance company established by an Indian was Indian Mercantile
Insurance Company Ltd. in Bombay in 1907. Eventually, with the growth of fire, accident and
marine insurance, the need was felt to bring such kinds of insurance within the purview of the
Act of 1912. While there were a number of attempts to introduce such legislation over the years,
4
non-life insurance was finally regulated in 1938 through the passing of the Insurance Act, 1938
(“Act of 1938”). The Act of 1938 along with various amendments over the years continues till
date to be the definitive piece of legislation on insurance and controls both life insurance and
general insurance. General insurance, in turn, has been defined to include “fire insurance
business”, “marine insurance business” and “miscellaneous insurance business”, whether singly
or in combination with any of them.

2. Nationalization of the Insurance Business in India

On January 19, 1956, the management of life insurance business of two hundred and
forty five Indian and foreign insurers and provident societies then operating in India was taken
over by the Central Government. The Life Insurance Corporation (“LIC”) was formed in
September 1956 by the Life Insurance Corporation Act, 1956 (“LIC Act”) which granted LIC the
exclusive privilege to conduct life insurance business in India. However, an exception was made
in the case of any company, firm or persons intending to carry on life insurance business in India
in respect of the lives of “persons ordinarily resident outside India”, provided the approval of the
Central Government was obtained. The exception was however not absolute and a curious
prohibition existed. Such company, firm or person would not be permitted to insure the life of
any “person ordinarily resident outside India”, during any period of their temporary residence in
India. However, the LIC Act, 1956 left outside its purview the Post Office Life Insurance Fund,
any Family Pension Scheme framed under the Coal Mines Provident Fund, Family Pension and
Bonus Schemes Act, 1948 or the Employees' Provident Funds and the Family Pension Fund Act,
1952.

The general insurance business was also nationalized with effect from January 1, 1973, through
the introduction of the General Insurance Business (Nationalization) Act, 1972 (“GIC Act”).
Under the provisions of the GIC Act, the shares of the existing Indian general insurance
companies and undertakings of other existing insurers were transferred to the General Insurance
Corporation (“GIC”) to secure the development of the general insurance business in India and for
the regulation and control of such business. The GIC was established by the Central Government
in accordance with the provisions of the Companies Act, 1956 (“Companies Act”) in November
1972 and it commenced business on January 1, 1973. Prior to 1973, there were a hundred and
seven companies, including foreign companies, offering general insurance in India. These
companies were amalgamated and grouped into four subsidiary companies of GIC viz. the
5
National Insurance Company Ltd. (“National Co.”), the New India Assurance Company Ltd.
(“New India Co.”), the Oriental Insurance Company Ltd. (“Oriental Co.”), and the United India
Assurance Company Ltd. (“United Co.”). GIC undertakes mainly re-insurance business apart
from aviation insurance. The bulk of the general insurance business of fire, marine, motor and
miscellaneous insurance business is under taken by the four subsidiaries.

Important milestones in general insurance industry:

 1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all
classes of general insurance business.

 1957: General Insurance Council, a wing of the Insurance Association of India, frames a
code of conduct for ensuring fair conduct and sound business practices.

 1968: The Insurance Act amended to regulate investments and set minimum solvency
margins and the Tariff Advisory Committee set up.

 1972: The General Insurance Business (Nationalisation) Act, 1972. Nationalised the
general insurance business in India with effect from 1st January 1973. 107 insurers
amalgamated and grouped into four companies’ viz. the National Insurance Company
Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and
the United India Insurance Company Ltd. GIC incorporated as a company.

Insurance sector reforms:

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R. N.
Malhotra, was formed to evaluate the Indian insurance industry and recommend its future
direction. The Malhotra committee was set up with the objective of complementing the reforms
initiated in the financial sector. The reforms were aimed at “creating a more efficient and
competitive financial system suitable for the requirements of the economy keeping in mind the
structural changes currently underway and recognizing that insurance is an important part of the
overall financial system where it was necessary to address the need for similar reforms…” In
1994, the committee submitted the report and some of the key recommendations included.
6
  1997: Insurance regulator IRDA set up

 2000: IRDA starts giving licenses to private insurers: Kotak Life Insurance ICICI
prudential and HDFC Standard Life insurance first private insurers to sell a policy

 2001: Royal Sundaram Alliance first non-life insurer to sell a Policy.

 2002: Banks allowed selling insurance plans.

Insurance Regulatory & development authority (IRDA):

The Insurance Act, 1938 had provided for setting up of the Controller of Insurance to
act as a strong and powerful supervisory and regulatory authority for insurance. Post
nationalization, the role of Controller of Insurance diminished considerably in significance since
the Government owned the insurance companies. But the scenario changed with the private and
foreign companies foraying in to the insurance sector. This necessitated the need for a strong,
independent and autonomous Insurance Regulatory Authority was felt. As the enacting of
legislation would have taken time, the then Government constituted through a Government
resolution an Interim Insurance Regulatory Authority pending the enactment of a comprehensive
legislation.
The Insurance Regulatory and Development Authority Act, 1999 is an act to provide for
the establishment of an Authority to protect the interests of holders of insurance policies, to
regulate, promote and ensure orderly growth of the insurance industry and for matters connected
therewith or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance
Corporation Act, 1956 and the General insurance Business (Nationalization) Act, 1972 to end the
monopoly of the Life Insurance Corporation of India (for life insurance business) and General
Insurance Corporation and its subsidiaries (for general insurance business).

The act extends to the whole of India and will come into force on such date as the
Central Government may, by notification in the Official Gazette specify. Different dates may be
appointed for different provisions of this Act. The Act has defined certain terms; some of the
most important ones are as follows appointed day means the date on which the Authority is
established under the act. Authority means the established under this Act. Interim.

7
 Insurance Regulatory Authority means the Insurance Regulatory Authority set up by the Central
Government through Resolution No. 17(2)/ 94-lns-V dated the 23rd January, 1996. Words and
expressions used and not defined in this Act but defined in the Insurance Act, 1938 or the Life
Insurance Corporation Act, 1956 or the General Insurance Business (Nationalization) Act, 1972
shall have the meanings respectively assigned to them in those Acts A new definition of "Indian
Insurance Company" has been inserted. "Indian insurance company" means any insurer being a
company.

a) which is formed and registered under the Companies Act, 1956.

b) In which the aggregate holdings of equity shares by a foreign company, either by itself or
through its subsidiary companies or its nominees, do not exceed twenty-six per cent. Paid
up capital in such Indian insurance company.

Insurance Companies operating in India

Sl Insurers Foreign Partners Reg. Date of Year of

No. Registration Operation

Life Insurers
1 LIC Public sector 512 01.09.1956 1956-57
2 HDFC Standard Standard Life Assurance, UK 101 23.10.2000 2000-01
3 Max Life ––– 104 15.11.2000 2000-01
4 ICICI Prudential Prudential Plc, UK 105 24.11.2000 2000-01
5 Kotak Mahindra Old Mutual. Old Mutual, South Africa 107 10.01.2001 2001-02
6 Birla Sun Life Sun Life, Canada 109 31.01.2001 2000-01
7 TATA AIA American International Assurance 110 12.02.2001 2001-02
8 SBI Life BNP Paribas Assurance SA, France 111 29.03.2001 2001-02
9 ING Vysya ING Ins. International 114 02.08.2001 2001-02
B.V,Netherlands
10 Bajaj Allianz Allianz, Germany 116 03.08.2001 2001-02
11 Metlife Metlife International Holdings Ltd., 117 06.08.2001 2001-02
USA
12 Reliance ––– 121 03.01.2002 2001-02
13 Aviva Aviva International Holdings Ltd., 122 14.05.2002 2002-03
UK
14 Sahara ––– 127 06.02.2004 2004-05
15 Shriram Sanlam, South Africa 128 17.11.2005 2005-06
16 Bharti AXA AXA Holdings, France 130 14.07.2006 2006-07
17 Future Generali Generali, Italy 133 04.09.2007 2007-08
18 IDBI Federal Ageas, Europe 135 19.12.2007 2007-08
19 Canara HSBC OBC HSBC, UK 136 08.05.2008 2008-09
8
20 Aegon Religare Aegon ,Netherlands 138 27.06.2008 2008-09
21 DLF Pramerica Prudential of America, USA 140 27.06.2008 2008-09
22 Star Union Dai-ichi Dai-ichi Mutual Life Insurance, 142 26.12.2008 2008-09
Japan
23 IndiaFirst Legal& General Middle East 143 05.11.2009 2009-10
Ltd,UK
24 Edelweiss Tokio Tokio Marine Holding Inc, Japan 147 12.05.2011 2011-12
Non-Life Insurers
1 New India Assur. Public sector 190 1919 1919-20
2 National Insurance Public sector 58 1906 1906-07
3 Oriental Insurance Public sector 556 1947 1947-48
4 United India Ins. Public sector 545 1919 1919-20
5 Royal Sundaram Royal Sun Alliance, UK 102 23.10.2000 2000-01
6 Reliance General ––– 103 23.10.2000 2000-01
7 IFFCO-TOKIO Tokio Marine Asia Pte. Ltd, Japan 106 04.12.2000 2000-01
8 TATA AIG American International Group , 108 22.01.2001 2000-01
USA
9 Bajaj Allianz Allianz, Germany 113 02.05.2001 2001-02
10 CholamandalamMS Mitsui Sumitomo, Japan 123 15.07.2002 2002-03
11 ICICI Lombard Fairfax Financial Holding Ltd, 115 03.08.2001 2001-02
Canada
12 HDFC ERGO ERGO, Germany 125 27.09.2002 2002-03
13 Future Generali Ind. Generali, Italy 132 04.09.2007 2007-08
14 Universal Sompo Sompo, Japan 134 16.11.2007 2007-08
15 Shriram General Sanlam, South Africa 137 08.05.2008 2008-09
16 Bharti AXA AXA Holdings, France 139 27.06.2008 2008-09
17 Raheja QBE QBE, Australia 141 11.12.2008 2008-09
18 SBI General Insurance Australia Group Ltd , 144 15.12.2009 2009-10
Australia
19 L & T General ––– 146 12.07.2010 2010-11
20 Magma HDI HDI-Gerling, German 149 22.5.2012 2012-13
21 Liberty Videocon Liberty Mutual Insurance Group, 150 May 2012 2012-13
USA
22 Star Health&Allied Individual Promoters, UAE 129 16.03.2006 2006-07
(Stand Alone Health Insurers)
23 Apollo Munich Munich Re (Stand Alone Health 131 03.08.2007 2007-08
Insurers)
24 Max Bupa Bupa Finance PLC, UK 145 26.02.2010 2009-10
(Stand Alone Health Insurers)
25 Religare Health (Stand Alone Health Insurers) 148 30.9.2012 2012-13
26 ECGC Specialised Insurers 124 1957 1957-58
27 Agriculture Ins. Co. Specialised Insurers 126 2003 2003-04
28 GIC Reinsurer 112 2001 2001-02

9
 Chapter II
Company Profile

 About the company

 Recent Developments

 Profit and Performance

 Future Plans

 Awards and recognitions

 Vision

 Mission

 Top Management

10
About the company
United India Insurance Company Limited was incorporated as a Company on 18 February 1938.
General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4
Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General
Insurance operations of southern region of Life Insurance Corporation of India were merged with
United India Insurance Company Limited. After nationalization United India has grown by leaps
and bounds and has 18300 work forces spread across 1340 offices providing insurance cover to
more than 1 Crore policy holders. The Company has variety of insurance products to provide
insurance cover from bullock carts to satellites.
United India has been in the forefront of designing and implementing complex covers to large
customers, as in cases of ONGC Ltd, GMR- Hyderabad International Airport Ltd, Mumbai
International Airport Ltd Tirumala-Tirupati Devasthanam etc. It has been also the pioneer in
taking Insurance to rural masses with large level implementation of Universal Health Insurance
Programme of Government of India & Vijaya Raji Janani Kalyan Yojana (covering 45 lakhs
women in the state of Madhya Pradesh), Tsunami Jan Bima Yojana (in 4 states covering 4.59
lakhs of families), National Livestock Insurance and many such schemes.

Recent Developments
In November 2007, at Pune, company's top management launched an enterprised level
transformation project named UNISERGE, under this historic initiative, company identified and
set up 6 themes in order to remain a leader in Indian General Insurance market and also stressed
on the effective use of IT. In Addition, it has been also decided to create incentive system and
link to rigorous performance management system for the Enhancement of organizational
accountability and to strengthen HR structure of the company.
Recently, on January 11, 2012, The Company has been entrusted by The Govt. of Tamil Nadu
for implementing the new Comprehensive Health Insurance Scheme. This scheme would
cover 1.34 crore families of Tamil Nadu State and has an annual outlay of Rs. 750 crore. Tamil
Nadu Chief Minister, on the launch, handed over first quarterly insurance premium installment
of Rs. 183.64 crore to Mr. Milind Kharat, CMD of the United India Insurance.

Profit and Performance

The United India Insurance reported over 50% jump in its profit after tax at Rs 341.07 crore for
the first 6 months of the financial year 2011-12. The Chennai-based insurer had reported Rs. 218
crore profits during the same period last year. Declaring the half-yearly results, United India
Insurance Chairman and Managing Director G Srinivasan told reporters the company's growth
has exceeded that of the industry. "We grew by 27% over the industry's growth of 23% ... our
market share also increased," he said.

11
During the half-year period ended September 30, 2011, the company collected a total premium
of Rs 4,033 crore, up by 27% from Rs 3,178 crore in the year-ago period. "We have set a target
premium of Rs 8,000 crore this year," he said. On plans for the year 2011-12, he said the
company would focus on retail, micro-small and medium enterprises and rural insurance
segments. "We will focus on agency channel and bancassurance. Agency channel contributed
40% and bancassurance 7% (in the first half of the year). We expect it to increase in the years to
come," he said. Replying to a question, he said the company would bid for the Tamil Nadu
government's health insurance scheme. The investment income of the company for the first-half
of the year stood at over Rs 803 crore as of September 30, 2011.
A steep reduction in management expenses(to 25% from 37%) claims outgo and an increase in
premium income across segments has enabled the company to post 57% growth in net profit for
the first half of the current fiscal. United India earned Rs.803 crore from its investments during
the first six months of the 2011-12. The market value of the company's investments at the end of
second quarter stood at Rs.15,803 crore.

Future Plans
Logging an average business growth of 27% in 2011-12, India's leading non-life insurer United
India Insurance Company Ltd. declared that it is targeting a gross premium of Rs.10,000 crore
in fiscal year 2013-14 and sizeable reduction in underwriting losses - premium less claims outgo
- to Rs.900 crore from last year's figure of Rs.1,760 crore.
The company would focus the retail, and small and medium enterprises (SME) segments for
growth. It is in the process of adding further to its 48,000 agents and also to open around 100
one-man offices across the country. Currently, there are 400 such micro-offices bringing in
around Rs.275 crore premium.
Company is waiting for approval from the IRDA to introduce three products under the health
portfolio.

12
Awards and recognitions

 United India wins The Skoch Financial Inclusion Award 2013 for M-Power project in the
ICT based innovation category. M-Power is a premium payment service running through
mobile.
 United India gets Skoch award 2010; United India Insurance Company has won the award
for successful implementation of the financial inclusion initiatives. The company has
implemented the “Rashtriya Swasthya Bima Yojana” in Kerala. Skoch awards, distributed by
Skoch Consultancy Services, are meant to honour extraordinary achievements in governance,
capacity building, empowerment, inclusive growth, citizen services delivery, technology,
academics and changes in management.

 United India Insurance Company has been selected as one among the top three General
Insurance companies in Asia by Asia Insurance Review at the 14th Asia Insurance Industry
Awards held in Bali, Indonesia.

 United India Insurance Co. Ltd. has been awarded the Best Non-Life Insurance Company
by NDTV Profit-Business Leadership Awards 2010.

 United India Insurance Co. Ltd. has been awarded 'iAAA' rating for its claims paying ability
by ICRA (Investment Information and Credit Rating Agency) for the third successive year.
This rating indicates company's highest claims paying ability, its strong fundamental and its
overall financial strength for meeting the policy holder’s obligations.

 PC Quest, one of India's premier IT magazines has selected MPLS VPN project of UIIC as
one of the best implemented IT projects in the year 2007. The details of the same are
published in the June 2007 issue of the PC Quest magazine. MPLS VPN project of UIIC was
selected after a rigorous screening process in which 250 IT projects of various companies in
the country were evaluated. Subsequently, a jury of eminent personalities selected the top 21
IT projects implemented in 2007, in which the MPLS project of UIIC figures prominently.

Vision
 The most preferred insurer in India with global footprint & recognition.

 Trusted brand admired by all stakeholders.

 The best-in-class customer service provider leveraging technology & multiple channels.

 The provider of a broad range of innovative products to meet the needs of all customer
segments.

 Great place to work with highly motivated and empowered employees.

 Recognized for its contribution to the society

13
Mission

To bring peace of mind to our clients by protecting them from financial risks.

 To provide Insurance protection to all.

 To ensure customer satisfaction.
 To function on sound business principles.
 To help minimize national waste and develop the Indian economy.

Top Management

Sr. No. Name Designation

1 Shri Milind A Kharat Chairman cum Managing Director

2 Shri S. Surenther Director & General Manager

3 Smt Asha Nair Director & General Manager

4 Shri N Tobdan General Manager

5 Shri B. Krishnamurthy General Manager

6 Shri M V V Chalam General Manager

7 Shri A. Hoda General Manager

8 Shri V. Easwara Kaimal General Manager

9 Smt T.L. Alamelu General Manager

10 Smt Ramma Bhasin General Manager

11 Shri Rajasekharan Chief Vigilance Officer

14
 Chapter III
Research Methodology
 Need of the study

 Purpose of the Study

 Objectives of the study

 Limitations of the study

 Sampling technique/tools

 Sample Size

 Data collected

 Methods / tools of analysis

15
Purpose of the study:
The purpose of the study is to know the Survey & Findings on awareness of health insurance in
Moradabad (UP) area, and claim settlement process of health insurance.

Need for the study:

The need for the study arises to know about the awareness of health Insurance policy by the all
sections of the society, for the knowledge of health insurance claim settlement procedure in India
and explore the possibilities for its better and easy settlement.

Objectives of the study:

The main objectives of the study are:-

 To find awareness level of health insurance for Moradabad (UP) location.

 To estimate the percentage of population having health insurance product.

 To study claim settlement process in the health insurance policy.

 To determine the satisfaction level of the customer regarding Claim settlement.

Limitations of the study

There were certain limitations in undertaking this research work. As it is understood that
the limitations are a part of the project, they have been overshadowed by the benefits of
the study.

 The survey conducted may not be considered as comprehensive as only limited

respondents could be contacted because of the time constraint.

 Objectives, the purposes of the study and the questions had to be explained to the
respondents and in this context their responses may be biased.

 Some of the respondents were reluctant to give their responses.

 Only limited sample size had been considered for the study and therefore, the
conclusions drawn based on this may not be a reflection of the entire population.

Sample Size:
The sample size of the survey was 80 from different strata of total population. The respondents
were ensured complete confidentiality of their opinion and view.

Population:
Our sample population belonged to the Moradabad (UP). Our sample population belonged to all
sections of the society such different income group, different occupation group, different age etc.

16
Data collected:

Data includes facts which are required to be collected to achieve the objectives of
the project. In order to determine the present position and claim satisfaction level of customers.

The main source of information for this study is based on the data collection. Data
collected are both primary and secondary in nature.

Primary Data: Primary data have been directly collected from insured through well structured
Interview Schedule.

Secondary Data: The secondary data was collected from the websites of IRDA & III, books,
magazines, journals and daily newspapers.

Methods / tools of analysis

Tools used for analysis are:

 Percentage Analysis
 Graph
 Simple Correlation
 Chi-square test

17
 Chapter IV
Claim Settlement Process
 Introduction

 Appointment of Surveyor

 Appointment of Investigator

 Processing of Claims

 Close Proximity Cases

 Rectification of policy after a loss

 Repudiation of Claims

 Re-opening of Claim files

 How do I file a claim

 Cashless Claim

 Reimbursement Claim

 Documents required for processing of the claim

in a Health Policy

 Documents required for processing of the

claim in a Critical Care Policy

18
 GENERAL GUIDELINES

Introduction:

The Guidelines laid down here are not exhaustive and are of general nature. It may be
possible that some of the Guidelines laid down cannot in practice be complied with due to
particular circumstances of a case. Such non-compliance need not, therefore, render the
claim as invalid. The Claim Settling Authority can use discretion by recording the
reasons.

Appointment of Surveyor:

The Insurance Act stipulates that all claims of Rs.20,000/- and above are to be surveyed by a
licensed surveyor. Therefore, for claims less than Rs.20,000, survey by a licensed surveyor
is not mandatory. Such losses may be surveyed by the Company’s officials (In-house
Survey) if survey is required.

Ministry of Finance vides Gazette Notification No. Part II Section 3(ii) dated 30/5/70 have
exempted certain clauses of claims from the operation of Section 64 UM sub-section (10)
irrespective of the claim amount and hence such claims can be processed without insisting
on a report from a licensed surveyor.

The following must be kept in view before a surveyor is appointed for any claim:

a) The surveyor should be holding a valid license

b) The surveyor should be selected depending upon the type of loss and the nature
of the subject matter involved.
c) For assessment of some losses specific technical expertise may be required and
consultants having such technical expertise may be associated with the surveyors.
The consultants’ remuneration should be negotiated in advance bearing the
expertise in mind. This will be in addition to the survey fee payable.
d) Wherever business interruption losses are involved, the surveyors for the material
damage and the business interruption losses, if several, should be competent to
complement one another. One surveyor can be utilized for both the losses if the
Company is satisfied about the surveyor’s competence for both the jobs.
e) Appointment of Joint Surveyors may be done on the merits of the case.
Companies may frame guidelines on Authority for appointment of surveyor if they so desire.

Where a servicing DO is approached for appointment of surveyor even though they are not
the policy issuing office, surveyor must be appointed by the servicing DO immediately, with
intimation to the policy issuing office.

19
Appointment of Investigator:

Depending upon circumstances it may be necessary to appoint an investigator to verify the

claimed version of loss. A separate surveyor appointment may be considered if any actual
physical survey/assessment is possible and called for.

The letter appointing the investigator should mention the terms of reference and make it
clear that the report should contain no inferences or doubts unless these are well documented
and substantiated and can stand the scrutiny of a court if so required.

In the absence of a laid down schedule of fees for investigators, it is advisable to negotiate
and decide the fees to be paid in addition to expenses actually incurred before formally
appointing the investigator and the determined/decided fee recorded in the letter of
appointment.

Processing of Claims:

Documents generally required for processing of claims are specified in the respective
sections and as far as possible all documents must be called for from the insured in one
go and not in piecemeal.

“On Account” Payment: Pending final assessment of a claim an “on account” payment may
be considered subject to confirmation of the following:

 Loss due to Occurrence of a peril covered by the policy

 establishment of liability
 The minimum liability that might arise under the policy.

After approval of the claim by the competent authority, the insured/claimant should be
advised of the final amount of claim approved, with details thereof.
Remaining formalities of obtaining full and final discharge and bank/financial institution’s
discharge (where required) should be completed before release of the amount of claim.

If the loss or any part thereof is recoverable from a Third Party, a letter of subrogation
and/or assignment and special Power of Attorney, to suit special cases, is to be sent to the
insured for completion on requisite stamp paper and return before settlement.

20
Co Insurance:

The leader will process the claim on behalf of all the coinsurers. A decision by the leader
regarding claim settlement, taken at the appropriate level according to the existing tenets of
delegation of financial authority, shall be final and binding on the coinsurers. Claims
decided at the appropriate level by the leader will not be processed again by coinsurer(s),
regardless of the amount. The leader will intimate to the coinsurer details of a claim settled
by him with copies of all relevant reports and documents. The coinsurer will settle his share
of the claim within 15 days from the date of receipt of such intimation from the leader
without any delay.

In case of a claim requiring Board decision, the decision taken by the Board of the leader
shall be binding on the other coinsurers. There shall be no separate need for the coinsurers
to approach their respective Boards for decision in respect of such claims. A suitable note
may, however, be placed by the coinsurers before their respective Boards for information in
such cases.

Close Proximity Cases:

Detailed investigation should be immediately instituted when a loss occurs in close

proximity, i.e. within 5 days for all classes of insurances (except marine voyage policies), of
the date of inception of risk. The close proximity mentioned here is in reference to new
insurance or where there has been a break in insurance. Close proximity investigation
should also be carried out in cases where it is found that insurance has been taken out
significantly later than it ought to have been taken, i.e. the risk has remained un-insured or
inadequately insured prior to the insurance cover under reference.

Rectification of policy after a loss:

Rectification of a policy after a loss is reported for reasons other than breach of
condition/warranty should be carried out as under:

[a] Where rectification involves collection of additional premium, the additional premium
may be charged only on the affected policy period in which the claim has arisen.
[b] Rectification can be done by the Authority Competent for settlement of the claim.

Repudiation of Claims:

If a claim warrants repudiation, the competent authority would be the authority competent to
settle the claim. Letter of repudiation may state the reasons and/or the policy condition under
which it is repudiated.

21
Re-opening of Claim files:
Reopening of claim file can be done by the authority one step higher than the appropriate
claim settlement authority.

How do I file a claim?

The United India Insurance Company Limited health policies cover medical expenses incurred
towards the ailment provided that it is admissible under the policy. Following are the broad
heads of expenses payable on a health policy.

 Hospital (Room & Boarding and Operation Theatre) charges

 Fees of Surgeon, Anesthetist, Nurse, Specialists
 Cost of diagnostic tests, medicines, blood, oxygen, internal appliances like pacemaker (if
prescribed medically)

Cashless Claim:

In the event that an insured is hospitalized in a network hospital / nursing home,

he / she need not pay the medical expenses (as per coverage) up to the sum insured specified
under the policy. This is subject to claim intimation to United India Insurance Co. Ltd. and
approval of the request as per terms of the policy. United India Insurance Co. Ltd. will co-
ordinate with the hospital / nursing home directly and settle the bills once the insured patient is
discharged.
The insured has to approach the TPA desk of the hospital along with the United India Insurance
Co. Ltd. Health Card, a Photo ID card and the investigation reports. The hospital will thereon
send the request for authorization of treatment to United India Insurance Co. Ltd. In case we
deny the request, the insured has to pay the bills and submit the claim documents for a
reimbursement.

Reimbursement Claim:

In the event that an insured is hospitalized in any hospital / nursing home (within India) as
defined in the policy and pays the treatment expenses at the time of discharge, he / she needs to
file a claim with United India Insurance Co. Ltd. for the amount due under the policy. United
India Insurance Co. Ltd. will process the claim as per the terms of the policy and reimburse the
medical expenses covered to the insured if he claim is admissible.

22
 Documents required for processing of the claim in a Health Policy:

 Claim form duly filled and signed

 Prescription of doctor advising the admission
 Discharge card issued by the hospital
 Final hospital bill (in original) and payment receipt
 Medical investigation reports
 Medicine bills with the supporting prescriptions
 Invoice / sticker for implants if used in the surgery
 Other bills or documents related to the treatment

Documents required for processing of the claim in a Critical Care Policy:

 Claim form duly filled in and signed

 All supporting reports to prove diagnosis of the critical illness (pathological, imaging or any
other reports)
 Detailed attending physician's report mentioning the past medical and surgical history of the
patient with duration and confirming the diagnosis
 First Consultation paper.

23
 Chapter V
Data Analysis and
Interpretation

 Percentage Analysis
 Graphs
 Correlation
 Chi- Square Test
 Findings
 Suggestions
 Conclusion

24
Percentage Analysis

Age of the respondents Table No. 1

Satisfaction level No of Respondents Percentage

Highly Satisfied 15 24.2%

Satisfied 25 40.3%

Neutral 5 8.1%

Dissatisfied 11 17.7%

Highly Dissatisfied 6 9.7%

Total 62 100%

45

40

35

30

25

20

15

10

0
Highly Satisfied Category 2 Neutral Dissatisfied Highly Dissatisfied

Inference:

From the above graph It is shown that maximum number of respondent 40 (i.e.
50%) is coming under age group of 26 - 45 years and minimum number of
respondents 7 (i.e. 8.7%) above age group of 60 years.

25
Educational Qualification of Respondents Table No. 2

A SSC 10 12.5%

B HSSC 19 23.8%

C Graduate 33 41.2%

D Post graduate or Above 18 22.5%

Total 80 100%

SSC

HSSC

Graduate

Post Graduate

Inference:

Here we can find out that more number of respondents are Graduates (41.2%)
and less no of respondents among our target population is SSC (12.5%).

26
Occupation of Respondents Table No. 3
A Government Employee 22 27.5%

B Corporate Employee 34 42.5%

C Self Employee 17 21.2%

D Others 7 8.8%

Total 80 100%

50
40
30
20
10
0

Govt. Employee
Corporate
Employee Self Employee
Others

Inference:

Here we can find out that more number of respondents are corporate employee
(42.5%) and less no of respondents among our target population is Others (8.8%).

27
Aware about Health Insurance Plan available in the market

Table No. 4
Yes 70 87.5%

No 10 22.5%

Total 80 100%

Yes No

Inference:

From the above graph it is evident most of the respondent (87.5%) are aware
about the health insurance plan.

28
Having Health Insurance Policy
Table No. 5

Yes 62 77.5%

No 18 22.5%

Total 80 100

Inference:

From the above graph it is shown that most of the respondents (77.5%) have
health insurance policy i.e. 62.

29
Annual premium of the policy.
Table No. 6
A Below 5000 9 14.5%

B 5001 – 10,000 28 45.2%

C 10,001 – 25000 15 24.2%

D Above 25,000 10 16.1%

Total 62 100%

50
40
30
20
10
0

Below 5000
5001 - 10,000
10,000 - 25,000
Above 25,000

Inference:

Table shows that most of the respondents are handling policies with a maximum
premium of 5 to 10 thousand annually (45.2%), and respondents with minimum
premium <5 thousand per annum (14.5%).

30
Coverage Sum Insured in Lakhs
Table No. 7
A Below 1 Lakh 17 27.41%

B 1 - 5 Lakhs 20 32.25%

C 5 - 10 Lakhs 16 25.8%

D Above 10 Lakhs 9 14.5%

Total 62 100%

40

30

20

10
0

Below 1 Lakh
1 - 5 Lakhs
5 - 10 Lakhs
Above 10 Lakhs

Inference:
Among our respondents we can conclude that 32.25% have sum assured 5-10
lakhs and respondents who have sum assured above ten lakhs are 14.5%.

31
Satisfaction levels of the customers towards claim settlement
Table No. 8

Satisfaction level No of Respondents Percentage

A
Highly Satisfied 15 24.2%
B
Satisfied 25 40.3%
C
Neutral 5 8.1%
D
Dissatisfied 11 17.7%

E
Highly Dissatisfied 6 9.7%

Total 62 100%

50
40
30
20
10
0

Highly
Satisfied
Satisfied Neutral
Dissatisfied
Highly
Dissatisfied

Inference:
Table shows here that 43.3% of respondents are satisfied with claim settlement
towards their health insurance policy and some 8.7 % of respondent are neither
satisfied nor dissatisfied with this process.

32
Correlation Analysis
Correlation technique to find the correlation between Annual Premium and Sum
Insured.

Table No. 9

From the above table correlation result shows that annual premium and sum insured of
health insurance product are positively correlated with each other and it is significant.

Result:

There is a significant positive relationship between annual premium and sum

insured.

33
Correlation technique to find the correlation between duration of the policy and
selection of United India Co.

Table No. 10

From the above table correlation result shows that duration of the policy and selection of
United India Co are negatively correlated with each other and it is not significant.

Result: There is a negative but not significant relationship between duration of the policy
and selection of United India Co.

34
Chi- Square Analysis
Chi-Square test for comparing the occupation and satisfaction level of claim
settlement.

Table No. 11

H0: There is no significant relation between occupation and satisfaction level of claim
settlement of the respondents.

H1: There is a significant relation between occupation and satisfaction claim settlement
of the respondents.

35
 Table No. 12

Since the P value 0.927 is greater than 0.05, the null hypothesis (H0) is accepted.

Result: There is no significant relation between occupation and satisfaction level of the
respondents.

36
Chi-Square test for comparing the Annual Premium and surveyor reach.

Table No. 13

H0: There is no significant relation between Annual Premium and surveyor reach.
H1: There is a significant relation between Annual Premium and surveyor reach.

Table No. 14

Since the P value 0.493 is greater than 0.05, the null hypothesis H0 is accepted.

Inferenc: There is no significant relation between the annual premium and surveyor
reach.

37
Chi-Square Test for comparing the time period of claim settlement and
satisfaction level of the respondent.

Table No. 15

H0: There is no significant relation between time period of claim and satisfaction level of
respondents.
H1: There is a significant relation between time period of claim and satisfaction level of
respondents.

Table No. 16

Since the P value 0.189 is greater than 0.05, the null hypothesis H0 is accepted.

Inference: There is no significant relation between time period of claim and satisfaction
level of respondents.

38
 FINDINGS
1. From the above graph It is shown that maximum number of respondents are coming
under age group of 26 - 45 years and minimum number of respondents are above age
group of 60 years.

2. The major finding of the study is that the maximum numbers of respondent are graduates
while the minimum numbers of respondents are SSC.

3. Here we find out that maximum numbers of respondent are corporate employee and less
no of respondents are others among our target population.

4. It is concluded that most of the respondents are aware about the health insurance plans.

5. It observed most of the respondents have health insurance policy.

6. It is observed that most of the respondents are handling policies with a maximum
premium of Rs. 5001- 10,000.

7. Among our respondents we can conclude that most of them have sum assured 5-10 lakhs
and less number of respondents have sum assured above 10 lakhs.

8. It is founded that almost all the respondents are satisfied towards claim settlement.

9. There is a significant relationship between annual premium and sum insured.

10. There is no significant relationship between duration of the policy and selection of United
India Co.

11. There is no significant relation between occupation and satisfaction level of the
respondents.

12. There is no significant relation between the annual premium and surveyor reach.

13. There is no significant relation between time period of claim and satisfaction level.

39
 CONCLUSION
1. The study has been able to accomplish its objectives, by thoroughly analyzing and
identifying the awareness of the customers of United India Insurance Company Limited
strengths and weaknesses of health policy among the clients of United India Insurance
Company and to identify claim settlement process of health policies.

2. The outcome of the study has proved that the performance of the company is outstanding
in making awareness about health insurance plan in the non-life insurance segment and
that the company has a higher reputation among customers and company have great
awareness among respondents. We can also conclude that respondents of the study are
satisfied with Company products and services.

3. It is also concluded that the company could initiate various steps based on the
suggestions. The company by adopting some of the recommendations, if not all, can
further improve its performance and occupy a leading position among other competitors
in the non-life insurance market in future years.

SUGGESTIONS
1. The company should conduct an effective research for making more and more awareness
about its products among potential customers by means of advertisements and efficient
insurance agents, which in turn will help in increasing its customers.

2. Company may motivate all the agents and intermediaries to suggest the policy according
to individual requirement.

3. Company has to do new process and strategies to create a product with less expensive
and which gives more coverage.

4. The present scenario demands almost all the customers to have a general insurance cover
in order to protect from future uncertainty.

40
 MANAGERIAL IMPLICATIONS
1. The outcome of the present research is useful for the decision makers in the company to
understand the satisfaction level and accordingly they can formulate their strategies for
promoting their business.

2. This research results will enable the marketing personal to explore the ways to satisfy the
existing customers and consequently, to attract new customers with the motive of
financial inclusion.

3. Further, the research outcome will be very useful to the general insurance business
involved in them to know the existing customers and new customers expecting from the
company.

41
 BIBLOGARAPHY

BOOKS:-
Insurance in India, Regal Publication

Insurance institute of India books

JOURNALS

IRDA journals

A.M. Best

Business Insurance

Website

www.cholainsurance.org

www.archives.gov/research/holocaust/articles-and-papers/symposium-
papers/insurance-in-national-socialist-period.html.

42
Appendix

43
 QUESTIONNAIRE
“A study on awareness of health insurance products, underwriting practices
and claim settlement process“ with reference to The United India General
Insurance Company, Moradabad (UP)

SECTION - I
DEMOGRAPHIC

1. Name:__________________________________________________________________

2. Gender:
(a) Male (b) Female

3. Age:
(a)Below 20 Yr (b) 21-40 Yr
(c)41-60 Yr (d)Above 60 Yr

4. Occupation: (a) Govt. employee (b) Corporate employee

(c)Self employee (d) Others

5. Educational Qualification:
(a) SSC (b)HSSC
(c)Graduate (d)Post graduate or Above

6. Income PA: (a) Below 1 lakh (b) 1 to 3 Lakhs

(c) 3 to 5 Lakhs (d) Above 5 Lakhs

SECTION-2
CUSTOMER AWARENESS

7. Are you aware of Health Insurance products of the United India GIC.?
(a) Yes (b) No

44
8. If yes, what is the source of awareness?
(a)Company (b) Newspapers
(c)Television (d) Internet

9. Do you have any Health Insurance Policy for you or your family members?
(a) Yes (b)No

10. How long you are carrying the Health Insurance policy?
(a) Below 1 Yr (b) 1 – 5 yr
(c) 5-10yr (d) Above 10yr

11. Whether your policy has covered all family members?

(a) Yes (b) No

12. What is your Annual Premium?

(a) Below 5000 (b) 5000 - 10000
(c) 10,000- 25,000 (d) Above 25,000

13. What is your coverage Sum Insured (SI)?

(a) Below 1 Lakh (b) 1 -5 Lakhs
(c) 5 - 10 Lakhs (d) Above 10 Lakhs

14. Do you think coverage SI is enough for you?

(a) Yes (b) No

15. Do you have Free Health Check-Up?

(a) Yes (b) No

16. Whether your policy is life time policy?

(a) Yes (b) No

17. Do you wish to take low premium policies with limited benefits or high premium
policies with more benefits?
(a) Yes (b) No

18. Does your policy give daily cash for regular hospitalization?
(a) Yes (b) No

19. Do you have any policy which gives double the daily cash for ICU confinement?
(a) Yes (b) No

20. Whether your spouse is working?

(a) Yes (b) No

21. How is the service offered by the United India GIC.?

(a) Poor (b) Average
(b) Good (c) Excellence

45
22. Why you have chosen the product of United India GIC.?
(a)Brand Value (b) Near By Area
(c) Govt. company (d) Others

SECTION-3
Claim Settlement Process

23. Have you ever made a claim on Health Insurance?

(a) Yes (b) No

24. How soon does the surveyor reach?

(a) Within 3 hours (b)3-8 hours
(c) 8-24 hours (d) Above 24 Hours

25. After Reporting, within how many days has claim been settled by the United India
GIC.?
(a)Within 7 days (b) 7 – 15 days
(c)15 – 30 days (d) Above 30 days

26. Are you satisfied with claim settlement of Health insurance offered by United India
GIC.?
(a) Highly satisfied (b) satisfied
(c)Dissatisfied (d)Highly dissatisfied

27. Are you being continued as customer after made claim in United India GIC.?
(a) Yes (b) No

46
NOTE

47