Beshak works on creating better insurance awareness
The privatized health insurance in India is projected to cross a market size of Rs.2 trillion by 2030 up from Rs.370 billion valued in 2018, according to a survey by Beshak.org, independent consumer awareness and research platform for insurance.
“As health insurance adoption grows rapidly, it is critical that we take a pause and evaluate how we’ve done so far, so the next decade is devoted not only to boost product reach but also to uplifting service standards in the long-run,” said Beshak.org in the survey “India Health Insurance XP Survey-2020”.
The survey was conducted to measure the quality of experience received by health insurance users today, at the moment of truth – the claims process, Beshak.org said on 21 Dec 2020.
By estimating the gap in user expectations versus reality, the report outlines prospective remedies that the insurance ecosystem can adopt to improve the experience across touchpoints.
The survey was conducted through digital and telephonic interviews in association with Strategic Caravan, with over 530 respondents across age groups and demographics.
Respondents hailed from a wide range of locations across the country including Ahmedabad, Asansol, Bangalore, Bilaspur, Chandigarh, Chennai, Delhi, Noida, Dhanbad, Mumbai, Goa, Gurgaon, Hyderabad, Secunderabad, Jamshedpur, Goa, Kolkata, Mathura, Nagpur, Pune, Patna, Ranchi, Sangli, Silvassa and Thane.
Questions were focused on articulating the intricacies of the health insurance consumer journey spanning the following broad areas:
● Claim initiation process
● Process clarity and guidance
● Ease of documentation and paperwork
● Effective communication with the consumer (and)
● Claim settlement process
The survey highlighted an immense scope for improving the user experience during the claims process. At a high-level, it was observed that the overall consumer sentiment is mediocre at best, while in-depth insights and data helped pin-point to specific aspects that required course-corrections to revamp service delivery.
“While at Beshak we work on creating better awareness, we also like to be the consumer community’s voice articulating the problems they face, and the perceptions they have right now, with respect to insurance solutions,” said Mahavir Chopra, founder, Beshak.org.
“Only by addressing the problems that cause such perceptions, while increasing awareness of health insurance and its importance, can we improve the adoption and penetration of health insurance in the country,” he explained.
The health insurance in India was privatized two decades back, according to Beshak.org. #banking #insurance #health #investment /fiinews.com
