Bangalore, India
August 13, 2009

Celent Customer Insights Survey: Health Insurance in India 2009

Report Published by Celent

Celent's survey reveals what is important to the urban Indian customer vis-à-vis health insurance purchase.

India's health insurance market is growing. In order to reduce the public burden of healthcare costs and address issues with the healthcare system, the government is incentivizing health insurance off-take in the country on both the customer and the manufacturer ends. Consequently the country is seeing heightened activity in the health insurance domain resulting in some very interesting developments in the sector.

In June 2009, Celent, developed and administered a survey to assess the client requirements and satisfaction levels vis-à-vis the current health insurance products and providers and the key drivers in the segment. The survey attempts to shed light on the purchase and consumption patterns of urban India with respect to health insurance products and provider classes. Key aspects covered in the survey include:

  • Health insurance penetration: The extent to which health insurance providers have been able to penetrate the immediate target market for product awareness and sales.
  • Coverage level: The quantum of coverage purchased or likely to be purchased by respondents and the nature of coverage vis-à-vis number of family members covered and the quantum thereof.
  • Awareness and understanding of health insurance products: Qualitative aspects of awareness and understanding of health insurance products at the clients' end.
  • Satisfaction with the products: The key satisfiers and dissatisfiers for health products. Key reasons why clients purchase or do not purchase health insurance products.
  • Purchase behavior of clients: The key stages in the customer purhase lifecycle and behavioral aspects associated with client purchase decision-making.
  • Correlation between income, education levels, and gender with health coverage product awareness and penetration.
  • Dispensation towards portability in health insurance: The receptivity of target market to introduction of portability in health insurance products.

"The consumers are telling us a story that is centered around key requirements and their awareness of the product," says Ravi Nawal, analyst in Celent's insurance practice and author of the report. "The manufacturers of insurance products have to sit up and take notice of how the consumer is behaving and responding to stimuli in this market."

This report focuses on a key aspect of tapping the immense opportu¬nity in the health insurance market: the consumer requirements. It analyzes the current socioeconomic and behavioral issues in the consumer market and provides a perspective on the requirements of this very lucrative opportunity.

The 26-page report contains 10 tables and 13 figures. A table of contents for this report is available online.

Members of Celent’s Life/Health Insurance research service can download the report electronically by clicking the icon to the left. Non-members should contact info@celent.com for more information.

 

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

New York - Dana Lautin
dlautin@celent.com
Tel.: +1 646 364 8254

Paris - Alexandra Vouge
avouge@celent.com
Tel.: +33.1.73.04.46.26

Tokyo - Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3596.0020