International Journal of Research in Engineering, Science and Management 57

Volume 4, Issue 7, July 2021

https://www.ijresm.com | ISSN (Online): 2581-5792

Consumer Perception Towards Health Insurance

During Pandemic and Post Pandemic Era in India
Soumak Ganguly1*, Priyanka Kumari Singh2, Nabakumar Bhakat3, Subhasree Bhattacharyya4
1,2,3,4
Student, Department of Marketing, Pune Institute of Business Management, Kolkata, India

Abstract: Insurance is a means of preventing financial loss. It is issue, which gives a long-term benefit to the citizen of India.
a form of risk management, used mainly to cover the risk of Health Insurance policies are important for the rich as well as
contingent or uncertain loss. The entity that provides insurance is poor, male as well as females so, that all of them are eligible for
called an insurance company, insurance company, insurance
company, or insurer. In this project we mainly focused on the better treatment. Health insurance policies help them to get an
scope and growth of health insurance sector during pandemic and easy consultation to a specialized doctor. There are several
post pandemic era. lifestyle diseases like heart attack, stroke, cancer, and renal
failure which are common these days. With the help of the
Keywords: Insurance, pandemic, health insurance. health insurance, all the health-related expenditures are within
the reach of the citizens.
1. Introduction Due to the high population pressure and fewer hospitals in
Social security is the most important values in the Indian India leads to a low-quality treatment in the Government
System, which was even referred in the Vedas. Joint families of hospitals. For this reason, many of the patients are approaching
the villages are the best example of the social institution. Where towards the private hospital but this is not cost-effective. Due
they mutually help each other in difficult times. Works of the to this life insurance schemes are launched and medical
Churches and Charitable trust are predominant in the uplifting expenditures are within our limit. Health insurance gave us a
of the poor and Orphanage of the society, but in the case of the peace of mind and eliminate all worries about the treatment
health, they don’t have such a major contribution. expenses. As health has become a major concern of these days.
Advancement of Indian Health framework can be classified Health and wellness are important factors of life and Indian
into three stages. Stage I (1947-83) When the attention was on citizens are started willing to pay more for life insurance.
capacity to pay and the state duty to towards medical services Consumers' perceptions towards the health sector are
need. Stage II (1983-2000) when the principal public wellbeing drastically changed in the last 30 years. Many years ago, there
strategy was enunciated the need to empower private activity in was a concept like “feel well”. In recent times consumers are
medical care administrations conveyance, while simultaneously more alert and they are looking for adequate preventive care, a
extending admittance to freely subsidized exhaustive essential healthy life-style which helps them to live long. When these
medical care. Stage III (Post 2000) which will be which is medical services are enjoyed within an affordable price then
seeing a further move that can possibly significantly influence their profit percentage also increased and simultaneously the
the wellbeing area in three significant manners: (I) the craving objective of the companies are also fulfilled.
to use private area assets for tending to general wellbeing Many new companies are actively venturing in it and thereby
objectives; (ii) advancement of the protection area to give new it is difficult to construct a road for health insurance in India.
roads to wellbeing financing; and (iii) rethinking the part of the According to the report of the World Bank, Most Indians do not
state from being just a supplier to an agent of wellbeing have Rs 5,00,000 as instant cash and only 14% can arrange Rs
administrations too. 5,00,000; for that reasons they subsequently face a financial
The Health Insurance industry of India was launched in 1986, crunch. Only 1% can afford to spend Rs 5,00,000 instantly and
which was grown knowingly due to the liberalization of the easily, According, to the report Mostly 99% Indians Face
economy and general awareness. The General Insurance Financial problem. From the report, we can depict that the
Corporation of India and The Insurance Regulatory and health insurance market has huge scope, but the performance of
Development Authority (IRDA) started an awareness the company was only evaluated with the “word of Mouth”
campaign for all sections of the population. Only 25% of the from the ultimate consumers.
Indian Population avail the health insurance policy of India. The India health and medical Insurance market is divided
Many Foreign players were entered into the Indian market, as into different type of insurance provider (private, public,
the markets are filled with opportunities. standalone health insurance), different types of scheme
Majority of Indian population started prioritize their health (voluntary, mandatory, community based, employer based),

*Corresponding author: [email protected]

S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 58

types of coverage (individual or Family), term of coverage adverse choice, financial loss and also the abuse of insurance.
(term or lifetime), product type (Disease, medical, Income The problems or hindrances in the insurance sector produce
protection), demographics (adults, children, senior citizens) hurdles for its development. Lack of correct awareness and
Indian health and medical insurance market growth 2019 information on concerning insurance policies and underwriters
to2024 is expected by 19% (CAGR). The health sector in India is one amongst the most issues in the development of the health
is one of the fastest growing sectors in the non- life insurance insurer (Lu and Hsiao, 2003).
sector. The Indian market shows a robust double-digit growth As per the opinion of Cutler and Zeckhauser (1998), adverse
of 24.5% in 2017, with a market share of 24.5% in whole non- choice within the insurance trade includes a consumer gaining
life insurance sector. For the last 10 year it has been fastest insurance at a price that's below their true level of risk.
growing market segment which gives a CAGR of 23%. Insurance firms can do such things for shielding against adverse
The ample market size of the insurance sector in India is choice, as well as accurately distinctive risk factors, having a
estimated to touch US $ 340-400 billion by 2020. After the system for substantiating data and putting caps on coverage.
liberalization of the economy the awareness of the people in The adverse choice for insurers happens once a consumer
health care sector increases day by day. Our honorable Prime manages to get coverage at a lower premium than the depository
Minister Narendra Modi launches of national Health Protection financial institution would charge if it were responsive to the
scheme under Ayushman Bharat, in sept. 2018, in order to particular risk concerning the patron, sometimes as a result of
provide coverage up to INR 5,00,000 (USD 7,723) to more than the patron withholding relevant data or providing false data that
10 cr. unsafe families and holds heavy expectations, which foil the effectiveness of the insurance company's risk analysis
increase penetration of health sector in India, from nearly 35% system.
to 50%. 2020 are going to be remembered as an important time in
Increasing level of income, awareness for good health, history, the year has guided by several challenges, and also the
increased outweighed of lifestyle diseases and better access to pandemic remains looming around. We all have evolved from
insurance would be the key contributors to growth in health being an extraordinarily frightened of the unknown to currently
sector. learning the way to brook it. this can be the new tradition as we
Before Covid-19 outbreak, surveyed report said that only tend to all say these days.
10% of people were interested in buying health insurance, During the time of corona, it's going to appear to be things
whereas now 70 % to 75% consider health insurance as a area unit slowly easing into normalcy however the fact on the
necessity to reduce unpredicted health risks like Corona Virus. ground is incredibly completely different. In Bharat
In addition, this pandemic is expected to shape customers’ specifically, cases area unit still more and more rising. these
attitude and perception towards private health insurance. days at over one.3 million confirmed cases in Bharat, currently
being the third-worst affected country within the world, it's
2. Literature Review currently additional important than ever to require necessary
Heath insurance is the crucial sector of the economy. Health precautions to make sure we're within the rose of each health
insurance is the process by which a person protects himself and wealth (Banthin, Blumberg, Simpson et al. 2020).
from the financial loss caused due to severe disease and The coronavirus hasn't solely dropped at life a contagious
accident. Due to this type of facilities young generation started virus, however, conjointly different repercussions like money
depend on this insurance policies. Although health insurance instability and also the international economic lag. This means
concept is much old, but the transfer or sharing the risk was only that you don't solely need to shield yourself from the virus and
prevalent in the modern society. These health insurances are the different sicknesses, however, conjointly make sure you are
pocket friendly option due to which large expenditure towards financially secure.
hospitalization in a private facility can be averted against a That’s why, in these days obtaining insurance for COVID-19
lower amount of premium. is nearly as necessary because it is for you to scrub your hands!
COVID-19 health insurance can facilitate the consumers to
A. Study of health insurance manage their aid expenses and provides the assurance that isn’t
Health insurance become one of the most important because sweet-faced with any money emergencies at such a time.
of the unpredictable nature of spending. One can have the Today, there is a unit several insurance policies covering the
predictive idea about the future health service required by them COVID-19 and jointly there is a unit some insurance policies
but the quantum of money required to be spent on health service like Digit's Health and area unit customized for consumers to
cannot be predicted. hide all sicknesses as well as the coronavirus. Coronavirus
By improving the provisions of the health insurance and policies like Corona Rakshak or Corona Kavach don't seem to
designing the health insurance packages so that most of the risk be accessible as of currently (Banthin, Blumberg, Simpson et
can be covered but this cannot be feasible as every risk cannot al. 2020).
be pooled into one insurance. Digit's Health Insurance's advantages that cover
Coronavirus, Zero-touch insurance policy in which from
B. Issue of Health Insurance
shopping for insurance to claiming goes to be paperless work
Health insurance, is a form of insurance, and isn't free from so that consumer would be secured from such virus. It is done
problem. The key issues associated with insurance area is on-line only within a several minutes, further addon Insured
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 59

Available, it would be zero value for accidental hospitalizations in this time as mentioned earlier is considered as a regulating
and unfavorable un-wellness. The insurance comes with no age- factor of insurance finance market (Banthin, Blumberg,
based co-payment. This means, consumer claims- they have not Simpson, 2020).
to pay something extra from their pocket. Health care Survey and Planning Committee was restricted
The insurance business has seen over the previous few to the occasion of the wellbeing administrations authority at the
months. Firstly, there has been a promising 30-40% uptake in main and initial level. Coordination of preventive, primitive,
insurance adoption across business players, with bound players therapeutic and rehabilitative approach of the administrations
seeing a major jump quite others. This surge can play out was made open and accessible to individuals and this was to be
extraordinarily well for suppliers with a strong digital guided by the standards of all-inclusiveness, completeness and
distribution method and convenient access. morals of the regulating authority. The presentation
Secondly, the business has witnessed a vast shift towards additionally underlined on a complete network of investment of
digitalization. Not solely has the requirement for digital insurer, and people were given pre-eminent independence.
distribution ways become vital, the character of services has Family-oriented networks of this survey accepted greater
conjointly triggered the requirement for reliance on digital accountability for their wellbeing and health security,
processes across the spectrum: whether or not they area unit encouraged by the help of a bunch of people from the regulating
underwriting processes or processes associated with issue administration, offices, and neighbourhood. Wilful gatherings
policies or filing claims. of youth and ladies, gatherings of ongoing insurers and many
Then there has been a transparent amendment within the other non-legislative associations were there in the survey
client perception towards insurance Sector. The pandemic has (Ćurak, Lončar and Poposki, 2009).
moved a sharp realization round the significance of protecting This is an undeniable fact that the private health security
investments, particularly once it involves the aspects of health markets are more unpredictable, in some cases driven by
and life security. Insurance has positively taken the front seat benefits rather than proving a true sense of security to the
once it involves return-based instruments, each from the customer base. The market is driven by various elements. In the
attitude of securing access to quality tending still as an characteristic of health insurance financing and instalment
investment intending finances. This might over time result in frameworks there are kind of parameters such as cost of starting
insurance remodeling from a historically "push" product to a instruction and preparing, measuring and full-filling public
"pull" one. desires and observations, appropriate administrative structure,
There are plentiful impacts of wellbeing and health care of and attaining social qualities are some of the variables
the entire population of a country. A monetary cycle is normally eventually connecting with one another to turn out to be an
utilized as a marker of a country's financial exhibition, and in even-handed, productive, sheltered and accessible way of
this manner, the degree of GDP per capita might be a key part service in the society. Global experiments show that the private
of the Human Development Index of the United Nations division in the health insurance sector will, in general, spend
Development Program, which is a popular indicator of public significant time in benefit augmentation and is not really
prosperity. worried about general wellbeing objectives of the normal
Ćurak, Lončar and Poposki (2009) stated that one of the key people, accordingly making a state of denial among customer
determinants is the extension, which has capacities of labours base. The health wellbeing frameworks have five viewpoints or
and thus the supply of physical state capital is nothing but the facts that interface with each other and impact on its
human capital. Two key components of human capital are the fundamental nature of dealing with a customer, first one is
degree to which the work power is instructed, and in this way, monetary (a charge, client expenses, cash-based use,
the resulting outcome is the degree of its wellbeing of the protection), instalment frameworks (how suppliers are paid for
human being. There's an outsized assortment of hypothetical payment, method of administrative cooperation, capitation),
factors and emphasis on the determinants of the financial cycle, hierarchical (way or structure in which the conveyance
proposing healthcare of both service providers and insurers frameworks are composed/organized), lawful (administrative
which is the primary determinant as well. Late observational or legislative systems) and social (admittance and acceptance to
work has been taken to evaluate the relationship between health security and health security data, publicizing policies).
human capital and total financial execution and it was observed The advancement of India's health insurance framework is
that given amount of work and capital both are required for sorted into three particular stages such as,
improvement in wellbeing status of the people and this is indeed Stage I (1947-83) – It was when the fundamental objective
a superior yield in the domain of health insurance sector. was on ‘capacity or affordability to pay’ and thus the state of
As of last this year of 2020 has been a transformational one obligation towards medical care need of the customer base took
due to the COVID 19 pandemic, both lives of people, as well as its place.
their perceptions towards health insurance sector and health Stage II (1983-2000) – This stage is when the state essential
care perspectives, have been changed. India is now among the authority's National Health Policy of 1983 verbalized the need
top countries that have been severely affected by this virus. to support private activity in medical care and its administrative
Studies have been done both from positive and negative aspects domain. A proportionate time extended to admit majorly to
while analysing facts and data. There has been a 30-40% subsidized policies thorough essential medical services with the
upliftment in the health insurance market that is quite promising intervention of the mentioned policy of 1983.
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 60

Stage III (post-2000) – This phase has monitored an investigate discoveries about the patients who were practising
additional move that can possibly significantly influence on the for more caution in their selection of doctors and clinics.
healthcare and wellbeing of customers in three significant Advertising was seen as a route for affecting such decision and
manners: (a) the will and initiatives to use private industry choices. Notwithstanding, it had been seen that demonstration
assets for tending the general health insurance objectives (b) of cases got yet consistent and eager help was received by clinic
advancement of the protection division to make the new roads executives in this specific study (Lu and Hsiao, 2003).
flexible for health insurance financing, and (c) rethinking the Discussing rivalry in the Indian medical services market,
function of the state from being just a supplier to an agent of one must consider the facts regarding the health travel industry.
wellbeing administrations likewise (Ramamoorthy, Clinical travel has picked up energy in India in the course of
Gunasekaran, Roy, 2018). recent years, a pattern supported by India's ease, advantage and
During the onset of a pandemic, it has been observed that subsequent development of most recent great medical care
there has been a drastic change in every industry towards specialist organizations across significant urban areas. In India,
digitalisation. The nature of health care and health insurance roughly 1, 80,000 patients showed up in 2004 from over the
service has been shifted to digital mediums that have been world for clinical treatment. The clinical travel market in India,
surprising proved as a promising one. assessed at US$ 333 million of every 2004 developed by around
The development of rivalry inside the medical services 25 per cent and is anticipated to turn into a US$ 5 billion a year
market has been recorded by various authors. The progressions business opportunity by 2021. India is seeing a flood of patients
to a more serious condition inside the early1980s can't be from created nations such as from Africa and South and West
followed as future policy. A bit of enactment initiated in this Asia that need satisfactory medical services found in their own
health insurance domain that was somewhat the after-effects of country yet. In India, there are restricted and limited
two significant powers merging on the medical care market at examinations which have addressed the trouble of medical care
the same time, a craving by the outsider payers to downsize financing, its tendency and related issues. First, a significant
expanding medical services consumptions and abundance of investigation was an investigation of individual family
medical services suppliers, especially doctors and clinics. These consumption, which discussed private use on health insurance
regularly contend that natural occasions like an economic in Singpur region and furthermore concerning the use of govt
downturn, expanded unfamiliar and unwanted rivalry among medical care in an equal region. The Indian Institute of
competitors, high clinical protection costs and social patterns Management, Ahmadabad had regulated an investigation of
underscoring diet, exercise, and health additionally contribute health care fund covering all the measure of health insurance
towards a decrease in a clinic inpatient statistics and in this way consumption in all over state specifically in civil, corporate and
increment rivalry among health insurance providers. Such normal family units (IIM 1987).
natural movements are portrayed not even as a fast change The present situation is mainly dealing with the unwanted
rather as an implication of destabilization in the medical fact that there is disconcerting uncertainty in the treatment of
services industry. One of the results of this destabilization of corona positive patients. Most insurers are scrambling to predict
the medical service industry has been a sensational fact in the amount of money required for the treatment. This has
rivalry among emergency clinics that is reliability on doctors severely impacted on the health insurance companies like Bajaj
and purchasers. Various sources have noticed that the expanded Allianz and Aditya Birla Health group.
degree of rivalry among medical clinics is consequently A relative investigation was made of different conditions of
progressing inside the world. In a high competition market, the India concerning public health and clinical guide during
exercises related to diverse promotional ideas are superior childbirth and baby death rate. In another examination,
strategy indeed. Consequently, by contemplating the degree of researchers attempted to search out the dispersion of general
medical care advertising exercises, one likewise can test the health insurance sponsorships in India in a few states.
degree of rivalry. There are a more extensive acknowledgement Regardless of the considerable want for equity-free strategy
and request by users and consequently the money managers for records, they found that public endowments on the health
subjects which are significant and are rising inside the medical insurance sector are circulated quite inconsistent across various
care area. dominating financial groups in India. At the all India level, the
The change in the mindset of the customer is another major portion of the most extravagant 20% of the entire population is
factor in this regard to COVID 19. People are suddenly aware incomplete public sponsorships. In provincial regions, this
of the health protections measure due to the prevalence of this imbalance was a lot more prominent. They additionally found
deadly virus. This change in mindset has provoked the market that 31 hundredths of public endowments on the health
competition to another level. Health insurance has taken the insurance sector accumulated to metropolitan occupants, fairly
front seat when it comes to the point of investment by the having a statistics of around 25 % of the complete population.
customers. Indeed, even at the state level, they discovered considerable
A 1979 book regarding index of medical care advertising contrasts inside the level of disparity with southern states of
recorded 166 cases which related articles for the quarter- India like Kerala, Tamil Nadu and Andhra Pradesh. On the
century before 1979. While an ensuing catalogue covering just other hand, the western provinces of Maharashtra and Gujarat
1979 to 1983 recorded 617 promoting related ideas. Other are getting a more equivalent appropriation just as the north
writers have credited some of this expanded enthusiasm to Indian states. Some of this disparity is inside the allotment of
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 61

general healthcare service endowments and are frequently 25.45 percent of respondent don’t have any kind of health
clarified by salary-related contrasts in used examples of public insurance.
offices with the proper utilization of rich population are getting
more consideration in this sector of health insurance studies. If
medical services are typically decent, this population are found
to become more proactive in investment.
There is a considerable number of studies done in the
territory of medical care and health insurance in the western part
of the world. This is a fundamental aspect because of the way
that they were presented in the United Nations. In any case, the Fig. 1. Person having health insurance
example of just those which tosses understanding concerning
their presentation, advantages and current age difficulties are Table 2
introduced beneath this are of study. Even in the areas of India Educational qualification
S. No. Particulars No. of Respondent Percentage
health insurance and health care sectors are planning to provide 1 Higher secondary 5 9
a user-centric distribution channel exclusively in digital media 2 Graduate 33 60
due to the impact of long-term lockdown of the corona. 3 Post Graduate 17 31
Managing health insurance and health care services refers to a 4 Others 0 0
wide scope of strategies utilized mainly by insurers, insurance Total 55 100
Source: Primary data
agencies, and legislative protection authorities and so on to
control the use of medical advantage by controlling the
Table 2 reveals that out of total 55 customers, 60 percent are
utilization of medical services and their administrations (Cutler
graduate and is followed by postgraduates (31 percent), further
and Zeckhauser, 1998).
it is revealed that 9 percent of customers are up to HSE.
There might be a delay in the renewals of the health insurance
services including all the other health care products in the
premises of pandemic as there are no straight indications about
the time frame regarding the abetment of this virus. The
opportunity to reinvest in this time is quite an arguable fact
connecting many SME insurance groups of India.

3. Objectives
 To identify the awareness level of customer’s regarding
health insurance in Covid-19.
 To identify the factors that influence customers in the
Fig. 2. Educational qualification
selection of health insurance during pandemic.
 To identify the factors that influence customers for the Table 3
selection of a particular health insurance. Occupation of respondent
 To find the level of satisfaction among the customers. S. No. Particulars No. of Respondent Percentage
1 Student 17 30.91
2 Business Man 11 20.00
4. Research Hypothesis 3 Professional 2 3.64
H1: There is a significant relationship between income and 4 Salaried 20 36.36
premium paid. 5 Others 5 9.09
Total 55 100.00
Ho: There is no significant relationship between income and Source: Primary data
premium paid.

5. Research Methodology Occupation of the

Whether Person Covered Under Health Insurance. Respondent
Table 1
Analysis Others 5
S. No. Particulars No. of respondents Percentage Salaried 20
1 YES 41 74.55
Professional 2
2 NO 14 25.45
Total 55 100 Business man 11
Source: Primary data Student 17

This table reveals that out of the total of 55 respondents, 0 5 10 15 20 25

74.55 percent respondent is covered by health insurance and Fig. 3. Occupation
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 62

From this above table we can analyze that mainly salaried Table shows that majority of respondents (56 %) have taken
people and the student are aware of the health insurance policies family policy and 44 % have taken individual policy.
but the conversion rate of the salaried people is more.

Table 4
Gender
S. No. Particulars No. of respondents Percentage
1 Male 41 74.55
2 Female 14 25.45
Total 55 100.00
Source: Primary data

Fig. 6. Coverage of the policy

Table 7
Amount of annual premium
S. No. Particulars No. of respondents Percentage
(Per month) in’000
1 <5000 18 33
2 5000-10000 23 42
3 10000-20000 6 11
Fig. 4. Gender
4 Above 20000 8 15
Total 55 100
From this above table we can depict that male are mainly Source: Primary data
aware of the insurance policies.

Table 5
Age of the respondent
S. No. Particulars No. of respondents Percentage
1 18-25 19 35%
2 25-30 13 24%
3 30-40 6 11%
4 40-50 8 15%
5 50-60 7 13%
6 Above 60 2 4%
Total 55 100
Source: Primary data Fig. 7. Premium amount
From the Above table it is significant that in the most of the
respondent in the primary research are in the age group 18-25 Table shows that a large number of respondents (42%) are
but the most of the prospecting customers are in the age group having a premium amount of 5000-10000 followed by the
of 30- 40. Though some of the respondents are in the in the premium amount of <5000 (33%).15% of respondents are
range of 25-30 also. But the most of the prospective customers having a premium amount of Above 20000. Only 11 percent of
are in the range of 30-40-year respondent. respondents fall under 10000-20000 categories.

Table 8
Problem faced during claim settlement
Particulars Response Percentage
1 All the hospitals are not accepting the 20 36
health card
2 Without any prior intimation, hospitals 5 9
are eliminated from TPA list
3 New hospitals are adding to the list 6 10
without any intimation to the client
4 No problem faced 25 45
Total 55 100
Fig. 5. Age
Table shows that significant problem faced by customers
Table 6 during claim settlement is that, all hospitals are not accepting
Coverage of the policy health card followed by the problem of failed to settle bill
S. No. Particulars No. of respondents Percentage(%) during hospitalization period. 10% of customers facing the
1 Individual 24 44
problem of new hospitals are adding to list without intimation
2 Family 31 56
Total 55 100 to the client. Only 9% of customers facing the problem of new
Source: primary data hospitals are eliminated from the TPA list without prior
intimation to the customers.
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 63

Table 9 important factor that considered by the respondents before

Annual income of customers
taking health insurance is to cover risk with 161 points. The
S. No. Particulars No. of Respondent Percentage
1 Below 250000 28 51 respondents give First preference to better treatment while the
2 250000-500000 12 22 high cost of treatment rank third. Respondents consider tax
3 500000-750000 10 18 benefit as the fifth factor while plan family expenditure rank
4 Above 750000 5 9 fourth position with 164 points.
Total 55 100
Source: Primary data
Table 12
Reasons for choosing a particular company
Table shows that out of a total number of respondents 51% S. No. Particulars No. of Percentage
are having an income of below 250000, followed by an income respondents
of 250000- 500000 categories (22%), 18% of respondents fall 1 Prompt claim processing 23 43
with least formalities
under 500000-750000. Only 9% of respondents fall under 2 Easy accessibility of 10 19
above 750000 categories. Linked hospitals
Table 10 3 Nominal premium 14 26
Reason for taking health insurance charged
Factors Rank 1 Rank 2 Rank 3 Rank 4 Rank 5 4 Name and reputation of 0 0
To cover risk 13 6 12 13 10 the insurance company
For better 13 7 17 11 6 5 Comprehensive coverage 7 13
treatment Total 54 100
High cost of 12 9 11 10 12 Source: Primary data
treatment Table shows that major reason for choosing a particular
Plan family 8 6 14 22 14
expenditure
health insurance company is Prompt claim processing with least
Tax benefit 6 10 13 13 12 formalities (43%) followed by Easy accessibility of Linked
Source: primary data hospitals and Nominal premium charged, only 13%
respondents choose an insurance company because of
Table 11
Factors
comprehensive coverage provided by them.
Factors Rank 1 2 3 4 5 CI Rank 1. Coverage: 10 out of 55 respondents are extremely aware
Score 5 4 3 2 1 of the coverage of the policy. The computed value as per
To cover risk 65 24 36 26 10 161 2 Likert’s scaling technique is 202 and score in the 5-point
For better treatment 65 28 51 22 6 172 1
scale is 3.67. Hence, we can conclude that most of the
High cost of treatment 60 36 33 20 13 162 3
Plan family expenditure 40 24 42 44 14 164 4 customers are aware of the coverage of the policy.
Tax benefit 30 40 39 26 12 147 5 2. Claim procedure: 24 0ut of 55 customers are very aware
Source: Primary data of the claim procedure. The computed value as per
Likert’s scaling technique is 197 and score in the 5-point
The major factor considered by respondents before taking scale is 3.58. Hence, we conclude that most of the
health insurance policy has been studied by arranging and customers are aware of claim procedure.
ranking them on the basis of their importance. All the five 3. Withdrawal procedure: 21 out of 55 customers are
options have been considered for analysis and composite index moderately aware to withdrawal procedure. The
numbers have been calculated. It is seen from the table that most
Table 13
Level of awareness
Factors Not at all Slightly Aware Moderately Aware Very Aware Extremely
aware Aware
I am familiar with the coverage of the plan 3 0 19 23 10
I know the claim procedure 0 2 19 24 8
I am aware of withdrawal procedure 0 4 21 20 9
I am aware the benefit of health insurance 0 5 15 24 10
I am aware with the accidental coverage from 1st day 1 8 17 20 7
onwards.
I am aware the coverage in pandemic situation 1 11 12 22 8

Weight 1 2 3 4 5 Total
Factors Not at all Slightly Aware Moderately Aware Very Aware Extremely
aware Aware
I am familiar with the coverage of the plan 3 0 57 92 50 202
I know the claim procedure 0 4 57 96 40 197
I am aware of withdrawal procedure 0 8 63 80 45 196
I am aware the benefit of health insurance 0 10 45 96 50 201
I am aware with the accidental coverage from 1st day 1 16 51 80 35 183
onwards.
I am aware the coverage in pandemic situation 1 22 36 88 40 187
Source: Primary data
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 64

Table 14
Level of Satisfaction
S. No. Particulars Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
1 Satisfy with the insurance premium 7 25 15 5 3
2 Tax benefit 0 0 0 0 0
3 Hospitalization cost 7 30 14 2 2
4 Post hospitalization benefit 4 22 18 9 2
5 Medical coverage is fully covered in insurance 4 26 17 6 2
6 Ambulance facility 5 19 21 7 3
7 The coverage amounts for hospitalization expenses related to 7 21 19 5 3
covid-19
8 Health Insurance fulfil my need 5 24 16 7 3

Weight 1 2 3 4 5 Total
S. No. Particulars Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
1 Satisfy with the insurance premium 7 50 45 20 15 137
2 Tax benefit 0 0 0 0 0 0
3 Hospitalization cost 7 60 42 8 10 127
4 Post hospitalization benefit 4 44 54 36 10 148
5 Medical coverage is fully covered in insurance 4 52 51 24 10 141
6 Ambulance facility 5 38 63 28 15 149
7 The coverage amounts for hospitalization expenses 7 42 57 20 15 141
related to covid-19
8 Health Insurance fulfil my need 5 48 48 28 15 144
Source: Primary data
computed value as Likert’s scaling technique is a 196 and significant effect on the income and the premium paid.
score in the 5 points Likert’s scale 3.56 since the score is
just above 3, it is clear that customers to some extent are 6. Findings
aware of withdrawal procedure. In the research found that most of the respondents are
4. Benefit: 24 out of 55 respondents are moderately aware of graduated. Research is mainly conducted in the city of Kolkata,
tax benefit, no of them are not at all aware about benefit. Chittaranjan, Durgapur Haldia. Many of the respondents are in
The quantified value as per Likert’s scaling technique is the age of 18-25 years of age. The Major source of Awareness
201 the score in the 5-point scale is 3.65. which is less is the friends/relative/colleagues. Many of the customers are
than Hence, it being very clear that customer’s awareness facing problem of not accepting the health cards. From the
about benefit is low. above research we can concluded that customers are extremely
5. Aware with the accidental coverage: 20 out of 55 aware whether the plan is familiar with them need of the
respondents are very aware of the consequence of non- customers. Most of the customers are paid a premium of
payment. 17 of them are moderately aware. The computed Rs5000 per year. No customer are aware of the Tax benefit from
value as per Likert’s scaling is 183 and score in the 5 the Health insurance. Due to the surge of Corona Consumers
points Likert’s scaling technique is 3.32, since the score are mainly depend upon the ambulance facility. There is no
is just above 1, it is clear that customers are some extent significant difference between the income and the premium
too aware about the consequence of non -payment paid.
6. Aware the coverage in pandemic situation: 22 out of 55
respondents are very aware of the coverage of the policy. 7. Conclusion
12 of them are moderately aware. The computed value as
The objective for which the present project work was taken
per Likert’s scaling is 187 and score in the 5 points
up was to assess the awareness level and sources of awareness
Likert’s scaling technique is 3.40.
about health insurance, to identify factors that influence
Table 15 customers in the selection of health insurance and a particular
Chi-Square tests health insurance company. And to find out the level of
Chi-Square Tests satisfaction of customers. As per our study main source of
Value df Asymptotic Significance (2- awareness about health insurance are friend’s relatives and
sided)
Pearson Chi-Square 6.239a
9 .716 colleagues, the main reason for choosing for choosing health
Likelihood Ratio 4.847 9 .847 insurance policy is to cover the risk of illness. The majority of
Linear-by-Linear .403 1 .525 respondents are satisfied with health insurance.
Association
N of Valid Cases 55
a. 13 cells (81.3%) have expected count less than 5. The minimum 8. Suggestion
expected count is .55. As the pandemic era continues and the and the corona comes
Source: primary data
with new variant so the awareness increases. So, there is a
further scope of study is there as the factors and needs of health
There is no significant relationship between the income and
insurance continuously changing in this pandemic area.
the premium paid i.e., null Hypothesis is accepted. There is no
S. Ganguly et al. International Journal of Research in Engineering, Science and Management, VOL. 4, NO. 7, JULY 2021 65

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