A study on customers perception and satisfaction towards health insurance

Over the last 67 years India has achieved a lot in terms of health improvement. Since the liberalization in 2000, the insurance industry in India has been growing considerably driven by multiple favorable economic and demographic factors. The Indian health insurance market grew at a CAGR (Compound Annual Growth Rate) of 34.00per cent during the review period and is expected to grow at a CAGR of 23.51per cent over the forecast period to register the fastest growth among all the insurance sectors. 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. The study aims to critically evaluate the customers’ perception towards health insurance services rendered by various public and private health insurance companies operating in India, with special reference to Coimbatore City. It was examined from the study that customers have highly appreciated the feature of risk cover offered by the various health insurance companies and there exist close association between overall satisfaction derived by the customers and customers’ level of satisfaction towards varies features of services offered by the health insurance company.