A project was conducted to find out the growth opportunities, future horizons in the health insurance sector. The project involved conducting a primary market research with different General Insurance Companies.
The health insurance market is growing at a healthy pace with the prediction of premium collection exceeding at a rate of 15,000 crore by 2015. Customers have tremendous choice from a large variety of products Customers are offered unbundled products with a variety of benefits as riders from which they can choose.
More customers are buying products and services based on their true needs and not just traditional money back policies, which is not considered very appropriate for long-term protection and savings.
The opening of the insurance sector has not only increased the number of people covered by health insurance but also increase capital flows into this sector for increased hospitals, better medical equipment etc. With all this, will also come intermediaries like service providers and other intermediaries like health management organizations, preferred provider organizations, third party administrators etc who would not only assist in increasing the coverage but also in improving the quality of overall medical services.
During my primary research a lot of companies have expressed concerned over the lack of awareness among the general population about the various health insurance scheme provided by them also the non availability of reliable data on diseases pattern and treatment cost have created some kind of difficulty in designing specific policies. But all that is changing in due course with companies coming out with policies that are customer friendly and also cater to people with some specific diseases like Cance ...