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TABLE OF CONTENTS

Chapter
1 2 3 4 5 6 7 8 9 10

Particulars
INTRODUCTION RESEARCH METHODOLOGY INDUSTRY PROFILE COMPANY PROFILE TITLE OF THE STUDY DATA ANALYSIS FINDING SUGGETION&CONCLUSION ANNEXURY BIBLIOGRAHPY

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1 to 3 4 to 6 7 to 24 25 to 39 40 to41 42 to 55 56 to58 59 to 62 63 to 65 66 to 67

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INTRODUCTION OF THE STUDY

TOPIC
This project works deals with the topic A Study on customer awareness of star health and allied insurance co LTD. In respective Hubli. (a) Objective of the Study Every study is done with certain objectives. The study without objectives preset is a futile exercise, as it will end in no conclusion. In this competitive environment whole market is consumer oriented. This time they are the king of the market. So, by this study I would like to know what is there actual role into the market and what is their behavior towards the products and services are getting from respective companies and how they benefited to insurance services it will easier to analysis the through objective.

To Understand The Health Insurance Industry. To find out the awareness of people about health insurance policies. To Understand The Star Health Insurance Co And Product.
To create an awareness about star health and allied insurance company and policies.

Advertises The Star Health Insurance Co. Promote The Star Health Insurance Product. To Understand What Are Problem Facing Health Insurance In India To Analyses Star Health Insurance Product

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EXECUTIVE SUMMARY In the project the nature of research is exploratory research whereby the efforts have been made by executing the research in hubli town. A systematic as well as well-designed approach has been adopted while conducting research about market characteristics. The problem is that the company seems to have less market share in comparison to its competitors. So the project given to me was to find out the cause behind this and to find out the probable techniques to be applied to overcome the problems. Moreover I had to study the marketing and the promotional activities of the company in the various institutions and convey the schemes and the benefits provided to them by the company. First of all the objective of the study was defined clearly. It is followed by the research methodology adopted which has been defined with the help of collected data. A detailed interpretation of the Indian Paint Industry has been given. The companys history along with its profile is described. The product profile is defined covering the different types of products the company is having. The major players of the industry and their profile are described. The next step was defining the sampling design where by the sample size of 50 was taken for the different institutions viz. Nursing Homes/Hospitals, Hotels, Schools and the target area was Hubli. To facilitate the research work questionnaire method was adopted for the collection of the data as a primary research whereas the secondary data was collected from different books, company library and the other trade / business websites. Questionnaire contains both open ended questions and close ended questions, on the basis of the feedback the analysis was done with the help of the clear graphical representation by using pie charts, bar graphs. The next step was the most important step for looking at the actual findings of the project and recommend to the company what can be incorporated for further improvement.

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METHODOLOGY

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METHODOLOGY Marketing research is the backbone of marketing. The main objective of my study was to get information from the customers regarding their preference of the products of star health and allied insurance co Ltd. in comparison to other paint companies and to suggest some feasible measures to improve the institutional sales of the company products. Meaning of Research: Research in common refers to a search of knowledge. One can also define research as a scientific research for pertinent knowledge or information on a specific topic. This is a systematic and objective identification, collection of data, analysis, dissemination and use of information for the purpose of assisting management in decision making related the identification and solution of problem in the market. Type of Research: As far as this project is concern, it is a descriptive type of research work because according to C.R. Kothari (the author of Research Methodology) descriptive research is a method of obtaining qualitative data and other fact finding activities and require special effort from researchers side. I present this research as a depth interview. This is an unstructured, direct, personal interview in which a single respondent is probed by a highly skilled interviewer to uncover underlying motivation, beliefs, attitudes, and feeling on the topic. Approach of Research: According to Kothari there are two approaches in research methodology. First one is qualitative and second one is quantitative. This project works on quantitative approach, which is reliable and beneficial in this type of project. In quantitative data collection or research we seek to quantify the data and typically apply some form of statistical research or analysis. Quantitative research applies to quantify the data and generalized the result from the sample to the population of interest. In this research a large number of samples of representative cases are taken, the method of data collection is structured, data analysis is statistical and outcome is recommended a final course of action. In order to achieve the above objective exploratory research was carried and different steps were followed.

Define the problem & research objectives Management must define the problem in broader way. It is said that by defining the problem it is half solved. The objective is the same as stated above. 2. Develop the research plan The second stage of marketing research calls for developing the most efficient plan for gathering the information needed to achieve the objective of the project successfully. There are number of steps involved in this: a) Data sources

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Primary data: It has been collected by forming a proper questionnaire. Questionnaire is a systematic and structured manner of collecting data for conducting experiment. The nature of the questionnaire is very inductive and fundamental. It has been kept in a proper framework to make it clear to the dealers .A sample questionnaire has been attached in the report.

Secondary data: It has been collected from the websites of starhealth.com library of Hubli. For secondary data I concern the books like Research Methodology- by C.R.Kothari and Marketing Research 4TH editions by Naresh k. Malhotra for the basic information about the project, product profile were also used for the secondary data.

Research instrument
Questionnaire: The questionnaire was developed in consultation with the project guide Mr. sudhir(manager of Hubli) of star health and allied insurance co Ltd... hubli. Sampling design Sampling design is a conductive approach, which gives the research work a factual as well as conclusive framework. It contains sample size, which is basically a true representation of the target population.Sample size 50 for dealers and retailers Commencement of Fieldwork:The fieldwork included the process of getting the questionnaires filled up and also getting all the relevant information regarding the visibility of star health and allied insurance co LTD. for future business decisions LIMITATIONS OF THE STUDY: The successes of any research work depend on the response of the respondent. But sometime the response is not sufficient due to these following reasons its findings. Respondents generally have less time to respond. Sometimes they are confusing in their response due to lack of knowledge. Some persons are not willing to disclose the truth. Their attitude towards people representing a company. The time constraint faced in the project might have affected the comprehensiveness of

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INDUSTRY PROFILE

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HISTORICAL PERSPECTIVE The history of life insurance in India dates back to 1818 when it was conceived as a means to provide for English Widows. Interestingly in those days a higher premium was charged for Indian lives than the non - Indian lives, as Indian lives were considered more risky to cover. The Bombay Mutual Life Insurance Society started its business in 1870. It was the first company to charge the same premium for both Indian and non-Indian lives. The Oriental Assurance Company was established in 1880. The General insurance business in India, on the other hand, can trace its roots to Triton Insurance Company Limited, the first general insurance company established in the year 1850 in Calcutta by the British. Till the end of the nineteenth century insurance business was almost entirely in the hands of overseas companies. Insurance regulation formally began in India with the passing of the Life Insurance Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during the 1920's and 1930's sullied insurance business in India. By 1938 there were 176 insurance companies. The first comprehensive legislation was introduced with the Insurance Act of 1938 that provided strict State Control over the insurance business. The insurance business grew at a faster pace after independence. Indian companies strengthened their hold on this business but despite the growth that was witnessed, insurance remained an urban phenomenon. The Government of India in 1956, brought together over 240 private life insurers and provident societies under one nationalized monopoly corporation and Life Insurance Corporation (LIC) was born. Nationalization was justified on the grounds that it would create the much needed funds for rapid industrialization. This was in conformity with the Government's chosen path of State led planning and development. The non-life insurance business continued to thrive with the private sector till 1972. Their operations were restricted to organized trade and industry in large cities. The general insurance industry was nationalized in 1972. With this, nearly 107 insurers were amalgamated and grouped into four companies- National Insurance Company, New India Assurance Company, Oriental Insurance Company and United India Insurance Company. These were subsidiaries of the General Insurance Company (GIC).

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INDUSTRY REFORMS Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDA online service for issue and renewal of licenses to agents. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products.

INSURANCE INDUSTRY CLASSIFICATION

INSURANCE

LIFE INSURANCE

GENERAL INSURANCE

Fire Insurance

Marine Insurance

Mediclaim

Motor Vehicle

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Life insurance Life Insurance is a financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household. Though human life cannot be valued, a monetary sum could be determined based on the loss of income in future years. Hence, in life insurance, the Sum Assured (or the amount guaranteed to be paid in the event of a loss) is by way of a benefit. Life Insurance products provide a definite amount of money in case the life insured dies during the term of the policy or becomes disabled on account of an accident. Fire Insurance Fire Insurance is one of the oldest forms of insurance and goes as far back as Marine insurance. Its origins are in the age-old fear of fire and human failing to control fire. In the early development of industrial society fire was the main source of energy. No industrial activity or commerce was possible without fire and the need to insure the risk of uncontrolled fire became the integral part of society. Fire insurance is designed to provide for financial loss to property due to fire and few other related hazards. Fire insurance is governed by Tariff under the Tariff Advisory Committee (TAC). Marine Insurance Marine insurance has been defined as a contract between insurers and insured whereby the insurer undertakes to indemnify the insured in a manner and to the interest thereby agreed, against marine losses incident to marine adventure. Section 2(13) A of Insurance Act 1938 defines it as follows: Marine insurance business means the business of effecting contracts of insurance upon vessels of any description, including cargoes freights and other interests which may be legally insured in or in relation to such vessels, cargoes, freights, goods, wares, merchandise and property of whatever description insured for any transit by land or water or both, and whether or not including warehouses risks or similar risks in addition or as incidental to such transit and includes any other risks customarily included among the risks insured in marine policies

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Health Insurance Health Insurance mainly covers two types of benefits: one is related to the reimbursement of medical expenses related to specific diseases and the other is related to the hospitalization. Globally, the health covers operate in two ways cashless and cash reimbursable ones. The health insurance has changed the way medicine is dispensed and sold in the most parts of the world. In India, its impact has yet to be felt. However, the introduction of the now famous Mediclaim policy made a huge difference to an ordinary citizens usage of insurance medical cover purpose. Motor Insurance Motor Insurance is one of the largest non-life insurance businesses in the world. This is because it is statutorily mandated in most parts of world. All motor vehicles are required to be registered with road transport authorities and insured for third party liability. The basic premise is that motor vehicles could either cause injury or be a subject to damage and injury and thus require insurance. The Motor Vehicle Act of 1939 introduces compulsory insurance to take care of those who may get injured in an accident. The insurance of damage to vehicle is not mandatory Insurance provides: Protection to investor. Accumulation of savings. Channeling these savings into sectors needing huge long term investment.

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Functions of Insurance:
Provide protection: The primary function of insurance is to provide protection against future risk, accidents and uncertainty. Insurance cannot check the happening of the risk, but can certainly provide for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with others. Collective bearing of risk: Insurance is an instrument to share the financial loss of few among many others. Insurance is a mean by which few losses are shared among larger number of people. All the insured contribute the premiums towards a fund and out of which the persons exposed to a particular risk is paid. Assessment of risk: Insurance determines the probable volume of risk by evaluating various factors that give rise to risk. Risk is the basis for determining the premium rate also. Provide certainty: Insurance is a device, which helps to change from uncertainty to certainty. Insurance is device whereby the uncertain risks may be made more certain. Small capital to cover larger risk: Insurance relieves the businessmen from security investments, by paying small amount of premium against larger risks and uncertainty. Contributes towards the development of industries: Insurance provides development opportunity to those larger industries having more risks in their setting up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery. Means of savings and investment: Insurance serves as savings and investment, insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insured's For the purpose of availing income-tax exemptions also, people invest in insurance. Source of earning foreign exchange: Insurance is an international business. The country can earn foreign exchange by way of issue of marine insurance policies and various other ways. Risk free trade: Insurance promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies under marine insurance cover.

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Present Insurance Market-scenario.


The insurance sector was opened up for private participation four years ago. For years now, the private players are active in the liberalized environment. The insurance market have witnessed dynamic changes which includes presence of a large number of insurers both life and non-life segment. Most of the private insurance companies have formed joint venture collaborating well-recognized foreign players across the globe. There are now 29 insurance companies operating in the Indian market 14 private life insurers, nine private non-life insurers and six public sector companies. With many more joint ventures in the offing, the insurance industry in India today stands at a crossroads as competition intensifies and companies prepare survival strategies in a detariffed scenario. There is pressure from both within the country and outside on the Government to increase the Foreign Direct Investment (FDI) limit from the current 26% to 49%, which would help JV partners to bring in funds for expansion. There are opportunities in the pensions sector where regulations are being framed. Less than 10 % of Indians above the age of 60 receive pensions. The IRDA has issued the first license for a standalone health company in the country as many more players wait to enter. The health insurance sector has tremendous growth potential, and as it matures and new players enter, product innovation and enhancement will increase. The deepening of the health database over time will also allow players to develop and price products for larger segments of society. According to IRDA (insurance regulatory development authority) annual report shows the business performance of insurance in 2011-12 is individual agents performance is 78.95% 16.86% in corporate agents 1.77% as brokers and 4.22% as direct selling. This figure shows the insurance sector business was increased. In the year 2011-12 LIC was issued new polices is Rs 481.52 crore. New policy issued of LIC is come down as compared to last year is Rs532.25 crore. In the same health insurance sector was issued new policies are increased compared to LIC. In the year 2011-12 issuing new policies are Rs 793.41 crore. The business was increased compared to last year 2010-11 is Rs 674.88 crore value policies are issued to the public.

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INTRODUCTION OF HEALTH INSURANCE


The health care system in India is characterized by multiple systems of medicine, mixed ownership patterns and different kinds of delivery structures. It is interesting to note that although compared to other countries in the Asian continent, Indians are heavy users of health care services (about 5% of GDP being spent on healthcare, 80 percent of which is private expenditure). Health insurance in India is not yet that popular. In fact, health care market is almost untouched, with only 3.4 to 3.5 million members covered.

Health Insurance
Heath insurance, which is being provided mainly by the general insurance companies, is a segment with great potential for growth because of greater health consciousness and increasing risk in the wake of faster phase of life, environmental pollution, etc. The increasing pollution levels are taking a toll in terms of the health of a large portion of the pollution, especially residents of metropolitan cities. These phenomena have made many people susceptible to respiratory diseases of one kind or the other.

The Indian Healthcare Industry


The Indian healthcare industry is expected to reach US$ 280 billion by 2020 on the back of increasing demand for specialized and quality healthcare facilities. Further, the hospital services market, which represents one of the most important segments of the Indian healthcare industry, is expected to be worth US$ 81.2 billion by 2015

Health Insurance A Limited Market in India


Health insurance in a narrow sense would be an individual or group purchasing health care coverage in advance by paying a fee called premium. The health insurance market in India is very limited covering about 10% of the total population. Health insurance expenditure in India is roughly 6% of GDP, much higher than most other countries with the same level of economic development. Of that, 4.7% is private and the rest is public. In private insurance, buyers are willing to pay premium to an insurance company that pools people with similar risks and insures them for health expenses. The key distinction is that the premiums are set at a level, which provides a profit to third party and provider institutions. Premiums are based on an assessment of the risk status of the consumer (or of the group of employees) and the level of benefits provided, rather than as a proportion of the consumers income.

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In the public sector, the General Insurance Corporation (GIC) and its four subsidiary companies (National Insurance Corporation, New India Assurance Company, Oriental Insurance Company and United Insurance Company) and the Life Insurance Corporation (LIC) of India provide voluntary insurance schemes.

Health insurance companies in India


Health insurance in India is popularly known as mediclaim. PSU health insurance companies have named basic health insurance plans as Mediclaim. Most of the general insurance companies also provide health insurance products. There are few health insurance companies in India whom IRDA has issued license for providing only health insurance products. There are total 24 companies providing health insurance in India.

Non-life Insurance Companies in India (Mediclaim insurance companies in India)


1. Bajaj Allianz General Insurance Co. Ltd. 2. Bharti AXA General Insurance Company Limited 3. Cholamandalam MS General Insurance Co. Ltd. 4. Future General India Insurance Company Limited 5. HDFC ERGO General Insurance Co. Ltd. 6. ICICI Lombard General Insurance Co. Ltd. 7. IFFCO Tokio General Insurance Co. Ltd. 8. L&T General Insurance Company Limited 9. Liberty Videocon General Insurance 10. National Insurance Co.Ltd. 11. Raheja QBE General Insurance Company Limited 12. Reliance General Insurance Co. Ltd. 13. Royal Sundaram Alliance Insurance Co. Ltd 14. SBI General Insurance Company Limited 15. Shriram General Insurance Company Limited 16. Tata AIG General Insurance Co. Ltd. 17. The New India Assurance Co. Ltd. 18. The Oriental Insurance Co. Ltd. 19. United India Insurance Co. Ltd. 20. Universal Sompo General Insurance Co. Ltd.

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Stand alone Health Insurance Companies in India 1. Apollo Munich Health Insurance Company Limited 2. Max Bupa Health Insurance Company Ltd. 3. Religare Health Insurance Company Limited 4. Star Health and Allied Insurance Company Limited All these health insurance companies in India provide health insurance products such as mediclaim, top-up plans, hospital cash benefit, critical illness and accidental death and disability cover.

Mediclaim (Health Insurance)


Mediclaim (health insurance) covers the cost in case of hospitalization including expenses before and after hospitalization (pre and post hospitalization) for certain number of days. These costs includes room rent, surgeon, anesthetist, medical practitioner and specialist fees, operation theatre charges, surgical appliance, medical and drugs, chemotherapy, radiotherapy and other similar expenses. There are some exclusions which all products may have with respect to the coverage. The common are first 30 days waiting period and 3 to 4 year exclusion of pre -existing disease. There are certain diseases which are covered after a waiting period of two years such as hernia, Cataract etc.

Top-Up Plans
Top-up plans also cover hospitalization expenses. These plans cover the expenses only if the total expenses exceed a pre-specified threshold limit (deductible). Since these plans have deductible, the premiums of these plans are relatively cheap. So you can buy a top-up plan with a deductible of the amount equal to the cover of your basic health plan. This plan can help when there are major hospitalization expenses arising out of critical illness or accident.

Critical Illness Plans.


Critical illness cover pays you a lump sum amount (sum assured) on diagnosis of the specified list of critical illness like Cancer, Multiple sclerosis, Paralysis, Coronary artery bypass surgery, Major organ transplant, Primary pulmonary arterial hypertension, First heart attack, Stroke, Kidney failure, Arota graft surgery. The illness varies from company to company. There is a waiting period of first 90 days and also you need to survive for 30 days

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after the diagnosis of the illness; only then the sum assured is paid. This cover helps you continue your regular lifestyle, even after loss of the income due to diagnosis of illness.

Accident death and disability insurance


Accidental death and disability insurance pays you a lump sum amount (sum assured) in case of an uncertain event of death or disability due to an accident. The disability may be permanent total disability (like loss of both limbs, hearing of ears, eyesight, etc) or permanent partial disability (like loss of one limb, hearing of one ears, eyesight, etc). This cover helps you continue your regular lifestyle even after loss of income due to permanent or total disability. One also needs to compare the products on the basis of features of the product and also premium payable before opting for mediclaim insurance company in India

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Health Insurance Claim Settlement


Health insurance claim settlement has been calculated using the following formula - Health insurance claim settlement ratio = (total claims - claims rejected) %

Insurers Claim Settlement


Insurers Apollo Munich Bajaj Allianz Bharti AXA Chola MS Future Generali HDFC ERGO ICICI Lombard IFFCO-Tokio Max Bupa Oriental Insurance Reliance General Royal Sundaram Star Health New India Assurance United India Assurance Claim Settlement Ratio (%) 76* 84 65 62 79 73 65 46 65* 92 73 93 61* 89 78

*Stand alone health insurance companies The health insurance claim settlement ratio of the insurers in 2011 is given above

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TYPES OF HEALTH INSURANCE PLANS


Company Name Individual Health Insurance Plan

Family Floater Critical Care Group Health Health Insurance Plan Health Insurance Plan Insurance Plan

Star Health and Allied Insurance Co. Ltd. Max Bupa health Insurance Co. Ltd. Apollo Munich Insurance Co Ltd HDFC Ergo Genral Insurance Co Ltd ICICI Lombard General Insurance Co. Ltd. IFFCO Tokio General Insurance Co. Ltd. National Insurance Co Ltd
Individual

Criticare Optima.
Plus

Healthy Family Plan

Wellness
Plan

Health
Insurance Suraksha

Suraksha

Illness

Insurance

Advantage Plus

Health Insurance

Mediclaim Insurance
Policy

Medishield

Kavach

Illness Policy

Policy

Mediclaim Family Swasthya Bima Policy


Swasthya Bima

for Illness Policy

Reliance General Insurance Co. Ltd. Royal Sundaram Insurance Co. Ltd.

Mediclaim

Wise Policy

Critical Illness Policy

Group Mediclaim Insurance Policy

Individual Insurance

Insurance for Individuals and Family Online

Tata AIG General Insurance Co Ltd The New India Assurance Co.

Multi
Guard

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Ltd. Future Generali India Insurance Co.Ltd. Cholamandlam MS General


Insurance Co. Ltd

Suraksha

Health
Policy Health

Health

Bajaj Allianz General Insurance


Co Ltd

Health Guard Family Floater Policy for Rs 1 Lacs

Illness

Health Guard Critical

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Distribution channels of health insurance products


An increasing number of insurers are using multiple distribution channels as they continue to balance the needs of different groups of consumers against the cost of distributing their products and services. When it comes to insurance distribution channels, one size does not necessarily fit all. Appended below are the various distribution channels:

Insurance Agents Trade Specific Agents (TSAs) Insurance Brokers Bank assurance Online Internet Portals Direct Marketing

Insurance Agents
An insurance agent is defined under the Insurance Act (Cap. 142) as a person who is or has been carrying on insurance business in Singapore as a registered agent for one or more insurers, and includes an agent of a foreign insurer carrying on insurance business in Singapore under a foreign insurer scheme under Part IIA of the Act. Individual agents or corporate agencies can employ nominee agents to assist them in their business transactions. For the purpose of registration with the ARB as an insurance agent pursuant to the mandatory requirements of the Notice No: MAS 211, an applicant may be classified under any one of the following:

Individual agents Corporate agents; i.e. sole proprietorship/partnership company registered with the Account and Corporate Regulatory Authority, society/cooperative society registered with the Registrar of Societies; and

Trade Specific Agents

All the above-mentioned entities may appoint nominee agents, including individual agents.

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Trade Specific Agents (TSAs)


TSAs are engaged in a business of which insurance is not their core business, and usually sell only one type of insurance product (e.g. travel agents selling travel insurance) in the course of their other business activities. The list of Trade Specific Agent types are as follows:

Freight Forwarders Foreign Domestic Worker Agencies Foreign Worker Agencies Motor Dealers Travel Agents Electrical Protection Sellers

The General Insurance Agents Registration Regulations (GIARR) specify that a person (individual or entity) shall not arrange, or hold himself out as entitled to arrange, a contract of insurance as an agent for an insurer, unless and until he has:

Been duly registered with the ARB of the GIA (the registered agent being classified as either a "Cash Agent" or "Credit Agent"), and is issued with a Certificate of Registration by the ARB; and

Entered into an agency agreement in writing with his principal (the insurer that he is representing).

Before commencing and representing any insurers in selling insurance, all general insurance agents and Trade Specific Agents (TSAs) must register with the Agents Registration Board (ARB) of the General Insurance Association of Singapore (GIA) through their principal insurers. The ARB will issue each of them with a unique GIA nominee number. Consumers can authenticate and confirm if an agent is registered with the ARB and is authorized to transact general insurance business with the insurer by verifying the agents details in the agent search module on the GIA website at All general insurance agents are required to comply with the following:

General Insurance Agents Registration Regulations Fit and Proper Criteria The Code of Practice for Agents; and

Under the Code of Practice for Agents, an agent shall not enter into any agreement or arrangement whatsoever for the appointment or engagement of any sub-agent.

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Insurance Brokers
They are registered under the Insurance Act (Cap. 142) to carry on insurance business as agents of insureds or intending insureds. They advise individual or corporate buyers of insurance on their insurance needs. They act on their clients' behalf to negotiate and obtain the most appropriate insurance covers at competitive premium rates from their insurers, exercising care and skill in doing so. Currently, insurance brokers are generally classified under the following categories:

Direct insurance brokers General reinsurance brokers placement of reinsurance risks for general insurers; and Life reinsurance brokers placement of reinsurance risks for life insurers.

Reinsurance brokers negotiate reinsurance contracts between the ceding insurers and reinsurers. They generally represent the ceding insurers for placing the reinsurance business and perform other necessary services. As required under the Insurance Act (Cap. 142), an insurance broking company must have in force a Professional Indemnity Insurance Policy.

Bank assurance
Banks, including finance companies, with their huge database of customers, sell insurance through a network of branches. Almost all of the local banks in Singapore own or have partnership agreements with insurance companies. Bank assurance is the term used to describe the partnership or relationship between a bank and an insurance company, whereby the insurance company uses the bank sales channel in order to sell insurance products, most of which are personal lines. Bank staff members, rather than insurance agents, become the point of sales or point of contact for customers. Bank staff members are advised and supported by the insurance companies through product information, marketing campaigns and sales training. They are also required to pass the relevant licensing examinations before they can sell insurance or provide insurance-related advice. Banks also make use of their websites to sell personal lines products, such as Card Protection Insurance, Household Insurance, Private Motor Car Insurance and Travel Insurance. Some banks even offer travel insurance products through their ATM networks.

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Online Internet Portals


The growth of information on the Internet has also increased the amount of time people spend on it. This has in turn generated a new market for online offering of insurance products. In recent years, Singapore has seen the entry of direct-to-consumer insurance companies selling individual motor, travel, home and accident insurance. Its business model entails direct underwriting via an online platform, supported by a fully staffed contract centre (operating 24 hours every day of the week) and a full-fledged claims department. In online insurance selling is limited mostly to personal lines products covering home, motor, golf, travel, card protection, personal accident, hospital income and even domestic maid packages. General insurers involved will sell these individual products through their own informative websites, which can provide for quotations and accessibility to web brochures, proposal forms and policy wording.

Direct Marketing
Rapid technological advancements have changed the way in which individual insurance companies can now serve their customers. At the same time, new technology has allowed for more information on individual policyholders, which enables their buying habits to be stored in the IT systems of direct insurers. The build-up of such databases over the years is a useful marketing tool to harness the power of information technology by the insurers. They can then execute segment marketing to focus on customized products for niche target groups. Insurers have directly marketed personal lines, such as Personal Accident Insurance, Travel Insurance, Private Motor Insurance, Household Insurance, Hospital Income Insurance, Golfers Insurance and even Domestic Maid Package Insurance, through their informative websites. Intending insured self-declare their pertinent information in the simplified online proposal forms. Insurance product quotations and policy wording are made available online. Payment of premiums is instant, made easy through online payment via credit cards.

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COMPANY PROFILE

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COMPANY PROFILE
Company name Started on Promoters Star health and allied health insurance company 16 May 2006 Oman Insurance Co UAE Leading NRIs Indian Business Houses Paid up capital Company type Line of business Rs 549 crore Private Company Health Personal accident Overseas Travel Insurances Infrastructure Head office Employees Network hospitals Doctors Active agents Network hospitals Address Chennai 5041 6000 3000 6800 6000

1,New Tank street,Valluvar kottam high roadNungambakkam, chennai-600 0344-28288800. Fax : 28260062

Email Id

www.starhealth.in

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BOARD OF DIRECTORS
Mr. V. Jagannathan, Chairman and Managing Director.He is a doyen of the Insurance industry with over 40 years of experience in Insurance. He has held various positions of authority, including that of CMD of one of India's largest Public Sector insurance companies.

Mr. Essa Abdullah Al Ghurair was educated in San Diego, USA. The Al Ghurair family has business interests in Banking, Food & Beverages and Real estates.

Dr. M. Y. Khan has a Doctorate in Business Management (PhD) from Burkes University in UK. He is currently the Chairman of the Banking and Advisory council of YES Bank Ltd., after a stint as the Chairman of J&K Bank. He is also a Director on the Board of Bharat Hotels and an Advisor for Berenson & Company, New York. Prior to J&K Bank, Dr. Khan was the Managing Director of J&K Agro Industries Development Corporation and Managing Director of J&K Tourism Development Corporation for five years.Dr. Khan was nominated as member of the Chattisgarh Economic Advisory Council - Government of India. He is also a Member of the Banking and Financial Institutions Committee of FICCI and Member of the Managing Committee of Indian Banking Association , Mumbai. Dr. Khan has received several prestigious awards notably "Udyog Rattan", "Pride of India & IMM" for excellence as top professional manager, "Excellence Award" by Institute of Economic Studies and "Star Achievers Award" among several others.

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Mr. D. R. Kaarthikeyan started his career as a lawyer and later entered the IPS. He held various prestigious positions, including Director of Police Academy - Mysore, Chief of Intelligence, Security, Karnataka State, Director General of Central Reserve Police, Director of the CBI and Director General of the National Human Rights Commission. He is currently a visiting professor in many prestigious institutions. Recognising his meritorious services, Government of India awarded him the Police Medal and the President's Medal for Distinguished Services.He was the Chief of Special Task Force instituted by Government of India in the Rajiv Gandhi assassination case. He has also authored a bestseller, 'Triumph of Truth - Rajiv Gandhi Assassination'. He was presented the National Award Padma Shri, by the President of India for his commendable services to the nation.

Mr. V.P. Nagarajan is the Executive Director of ETA ASCON and ETA STAR group of Companies headquartered in Dubai, UAE. He is a Chartered Accountant, Cost Accountant and a Company Secretary by profession and has been with the ETA Group for the last 2 decades. He currently handles the investments, new business initiatives and projects of the Group.

Mr. Patrick Choffel, is the Chief Executive Officer of M/s.Oman Insurance Company PSC, Dubai and a Member of the Board, PVI Vietnam. Mr.Choffel is a MS from University of Wyoming, USA & Diplome Superieure of Eccole Superieure de commerce, Paris, France. He has four decades of global insurance experience with focus on the Middle East. A considerable part of his experience comes from being with AIG, the largest insurance and financial services company in the world, with a significant presence in more than 130 countries.

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Mr. Dinesh Chandra Gupta is an eminent I A S Officer of 1967 batch of Orissa Cadre. Mr. Gupta is basically a Post Graduate in Commerce with additional qualification in Law and Social Sciences. He had a distinguished career and served in various positions spanning over a period of more than four decades. His notable assignments were Secretary (Expenditure) Government of lndia, Ministry of Finance Secretary (Banking & Insurance) Government of lndia, Ministry of Finance Finance Secretary & Secretary, (Expenditure) Government of lndia, Ministry of Finance Finance Secretary & Secretary (Economic Affairs), Government of lndia, Ministry of Finance Member, MRTP Commission

Mr.Sumir Chadha is the Co-Founder and Managing Director of West Bridge CapitalPartners. He received

an MBA with Distinction from Harvard Business School and a BSE in Computer Science from Princeton University.

Ms. Vishakha Mulye is the Managing Director and CEO of ICICI Venture Funds Management Co. Ltd, Mumbai. She is a Chartered Accountant with 2 decades of experience in Banking with specialization in treasury & market operations, proprietary equity investing and management of longterm equity investments, structured finance and corporate and project finance. She has been accredited with the following awards/Recognition: 'Young Global Leader' for the year 2007 by World Economic Forum.e Awarded as "Most Powerful Women in Indian Business" thrice (2007, 2009 & 2010) by Business Today. India CFO Award in 2006 from IMA for excellence in finance in a large corporate and CA Corporate Leader Award in 2008 from ICAI.

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Mr.Akhil Awasthi is the Managing Partner of the Tata Capital Growth Fund. He has completed the Advanced Management Program from the Harvard Business School, has a First Class Masters in Business Administration from University of Delhi, and is a qualified Mechanical Engineer with distinction.

He has over 16 years of private equity experience in India and 23 years of experience in financial services spanning private equity, asset management and corporate banking and has been involved with all stages of the private equity lifecycle. Credited with the following Professional Achievements As the Managing Partner at Tata Capital Growth Fund, Conceptualized the fund concept, developed a coherent investment strategy and executed the same and raised flagship fund in 2011 during constrained financial markets with a corpus of US $ 240 million. Similarly as the Founding Partner at Barings Private Equity, actively involved in raising and investing Barings' second and third funds totaling US $ 675 million. He is also an elected member of the Executive Committee of Indian Private Equity & Venture Capital Association and a member of Indian Management Association.

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KEY PERSONNEL
Mr T.N,santh Mr. S. Sundaresan Mr. S. Ramaswamy Mr. C.M. Kannan Unni Mr. K.C. Kumar Mr. Anand Roy Mr. Vishwajeet Mohnot Mr. A.M. Mallesh Mr. C.P. Uday Chandran Mr. S. Kannan Mrs. Rama Duraiswami Mr. H. Srinivasan Executive Director Senior Vice President Chief Financial Officer Vice President & Company Secretary Vice President, HR & Admin Assistant Vice President Assistant Vice President Assistant Vice President Assistant Vice President Assistant Vice President Assistant Vice President Assistant Vice President

VISION AND MISSION


VISSION: PROTECTING HEALTH, PROMOTING HEALTH MISSION: ULTIMATE CUSTOMER SATISFACTION

TEAM WORK
Led by stalwarts of the insurance industry, the team blends vast industry expertise with the high service standards to provide you the best of the health care options.

Trust and ethics


We believe that along with the essentials of honesty and integrity, a strong customer focus and reliability are key to our success.

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ORGNIZATION STRUCTRE

Corporate office

Zonal office

Area office

Branch office

SM Station

SM

Corporate agent / brokers

Agent

MTs

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PRODUCTS
Health Medi Classic (Individual & Group) Family Health Optima Senior Citizens Red Carpet Star Diabetes Safe Star Super Surplus (Individual & Family Floater) True Value HIV Care (Star Net Plus). Star Health Gain (IP + OP Benefits) Star All Care (for NRIs) Star Criticare Plus Star Unique Insurance (covers PED also) Star Wedding Gift (with maternity benefits) Medi Classic with PA FHO with PA Star Cardiac Care

Health plus Life Star Shri Individual Care Star Shri Family Care

Personal Accident Accident Care (Individual & Group) Accident Trauma Care (Individual & Group) Student Care

Overseas Travel Travel Protect for Individual Family Travel Protect Student Travel Protect Corporate Travel Protect

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1 Mediclasic
Mediclassic Insurance from Star Health is a policy that provides for reimbursement of hospitalization expenses incurred as a result of illness/disease/sickness and/or accidental injuries, so that you can keep your dreams alive.

Pre medical screening


Compulsory medical checkup is done for persons above 50 years of age at the cost of the company

Pre-Existing Diseases/illness
Are covered after 48 months of continuous insurance with any Indian Insurance Company

Policy Benefits
Hospitalization Cover: In-patient hospitalization expenses for a minimum of 24 hours. Includes room rent, Boarding & Nursing Charges @2% of sum insured, subject to a maximum of Rs.5000/- per day. Surgeon's fees, Consultant's fees, Anesthetists and Specialist's fees. Cost of medicines and drugs. Emergency ambulance charges for transporting the insured patient to the hospital upto a sum of Rs 750/- per hospitalization and overall limit of Rs 1500/- per policy period.

Pre-Hospitalization & Post-Hospitalization


Pre-hospitalization medical expenses upto 30 days prior to date of admission. Post-hospitalization - calculated at 7% of the hospitalization (excluding room charges) subject to a maximum of Rs.5000 is payable.

Special Additional Features


Automatic Restoration of Sum Insured: The sum insured is automatically restored by 200% when the basic sum insured is fully exhausted during the policy period. Cost of Health Checkup: Cost of Health Check-up up to 1% of the average sum insured after every block of 4 claim free years subject to a maximum Rs.5000/- is payable. Policy Term: The policy is usually available for one year, but in case premium for two years is paid in advance, then a discount of 5% is available on the total premium.

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Hospital Cash: Provides for payment of Rs. 1000/- per day of completed hospitalization max. 7 days per hospitalization and 14 days per policy period. Additional Premium Rs. 350/plus Service Tax. Patient Care:Available for persons above 60 years. Pays for attendant charges after discharge from hospital @ Rs.400/- per day for maximum 5 days per hospitalisation and 14 days per policy period. Additional Premium Rs. 580/- plus Service Tax.

Tax Benefits
Amount paid by any mode other than by cash for this insurance is eligible for relief under Section 80D of the Income Tax Act

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2 Senior Citizen Red Carpet


This Health Insurance Plan from Star Health is unique among Senior Health Insurance Policies and extends benefits of Hospitalisation Cover as well as Post Hospitalisation Cover

For people aged between 60 and 75 years Guaranteed renewals beyond 75 years No pre-insurance medical test required Treatment at network hospitals only All pre-existing diseases are covered from first year, except those for which treatment or advice was recommended by or received during the immediately preceding 12 months from the date of proposal

Disease for which treatment or advice was recommended by or received during the immediately preceding 12 months from the date of proposal will be covered from second year onwards

Senior Health Insurance Policy Red Carpet Benefits

Hospitalization Cover: In-patient hospitalization expenses for a minimum of 24 hours. Includes room rent and boarding @1% of sum insured subject to a maximum of Rs. 4,000/- per day.

ICU expenses per day @ 2% of sum insured Nursing expenses Surgeon's fees, consultant's fees, Anesthetist's and specialist's fees, per illness @ 25% of sum insured

Cost of blood, oxygen, pacemaker Cost of drugs and diagnostic tests @ 50% of sum insured per hospitalization Cataract (both eyes included), up to Rs.15,000/Emergency Ambulance Charges for transporting the Insured Person to the Hospital @ Rs.600/- per hospitalization and Rs.1200/- per Policy period

Post-Hospitalization Post-hospitalization - a lumpsum calculated at 7% of the hospitalization expenses (excluding room charges), subject to a maximum of Rs 5,000 is payable.

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Tax benefits in senior health insurance


Amount paid by any mode other than cash is eligible for relief as provided under Section 80 D of the Income Tax Act

3 PERSONAL ACCIDENTS Benefits Accidental death Permanent disability total or partial following an accident Temporary total disablement the Insured Person is eligible for a weekly benefit at 1% of Capital Sum Insured (following an accident) subject to maximum of Rs.5000/- per week for a 100 weeks

4 Family Health Optima


Family Health Optima from Star Health is a health insurance plan that gives protection for the entire family on the payment of a single premium under a single sum insured. The sum insured floats among the family members insured. It's just one more way to tighten the family bonds. A Super Saver Policy Single Sum Insured Wider Coverage Coverage for entire family Single premium Considerable saving in premium as the family is covered under one policy.

Who can take this policy? Any persons aged between 5 months and 65years, residing in India, can take this insurance. Family Includes Proposer, spouse, dependent children upto 25 years (those who are economically dependent on their parents) Policy Benefits Hospitalisation Cover Protects the insured for in patient hospitalisation expenses for a minimum of 24 hrs.These expenses include room rent,nursing and boarding charges as per policy condition.

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Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialist Fees. Cost of Medicines and Drugs Emergency ambulance charges up-to a sum of Rs. 750/- per hospitalization and overall limit of Rs. 1,500/- per policy period for transportation of the insured person.

Pre- post hospitalization Pre-hospitalization medical expenses upto 30 days prior to the date of admission. Post-hospitalizationn - a lumpsum calculated at 7% of the hospitalization expenses (excluding room charges) subject to a maximum of Rs.5,000/- is payable

Competitors of Star Health Insurance



Max Bupa Health Insurance Co Ltd Apollo Munich Health Insurance Company Limited Religare Health Insurance Company Limited Bharti AXA General Insurance Co Ltd Future General Insurance Co Ltd Future General Indian Insurance Co Ltd National Insurance Co Ltd Reliance General Insurance Co Ltd Tata AIG General Insurance Co Ltd ICICI Lombard General Insurance Co Ltd IFFCO Tokio General Insurance Co Ltd Royal Sundaram General Insurance Co Ltd The New Indian Assurance Co Ltd Bajaj Allianz General Insurance Co Ltd

Distribution Channels of Health Insurance Products


Direct market Agents Online Doctors

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Unique Achievements
1. Sole insurer for Rajive Arogyshree community Health Insurance Scheme in Andhra Pradesh state covering 6.55 crore persons (1.83 crores BPL card families)with a dedicated team of 3500 persons. 2. Apathbandhu Personal Accident Insurance Scheme covering the BPL families in the state of Andhra Pradesh. 3. Insurer for Tamil Nadu Government Employees (13 lakhs) and their families as the leader with 4 PSUs and ICICI Lombard as coinsurers.

STAR ADVANTAGES 1. No third party administrator direct in house claim settlement. 2. Faster claim settlement. 3. Cash less as well as reimbursement facility. 4. More than 6000 network hospitals across in India. 5. 24*7 toll free helpline. 6. Free general physician consultation over phone.

Present marketing scenario of the star health insurance co ltd


Star health was the first co granted registration to exclusively underwrite business in health personal accident and travel insurance segment in 2006-07. In its 6th year of operation the insurer under wrote gross direct premium of Rs 1228 crore in 2009-10. On net basis the insurer earned net premium to the tune of Rs 831 crore as against Rs 610 crore in the previous year. The insurer reported underwriting losses of Rs 8.08 crore in the year 2010-11 (loss of Rs 1.74 crore in 2009-2010). For the financial year 2010-11 the insurer has reported a net profit of Rs 7.39 crore as against of Rs 5.26 crore in previous year. The companies incurred claim ratio for the year 2010-11 was 91.19 crore (87.11 in 2009-10)

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TITLE OF THE STUDY

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INTRODUCTION

Customer Awareness of star health Insurance


Health insurance is designed to protect health and to product family against financial uncertainties that may result due to unfortunate demise or illness. It can also view as a comprehensive financial instrument, as a part of the financial planning offering savings & investment facilities along with cover against family coverage . By choosing the right policy as per the needs. i.e. customized solutions, you will be able to plan for a secure future for yourself and your family We all have different financial needs and objectives. But health insurance plays a fundamental role in most of our plans for financial security. That's because of the variety of life insurance plans available and the many ways they can be customized to meet unique needs at different periods of your life.

Statement of the problem


Insurance sector is a booming sector and the penetration in India is quiet low. So, all the private players are trying to increase the market share in the public. This study also involves creating awareness among the urban and rural consumer about the insurance sector and also the various policies involving various premium rates. Since the penetration of private companies and policies is low among the consumer, it is necessary to create awareness about health insurance policies and to know the satisfaction level among consumer. Hence the present studies entitled awareness about it among the consumer.

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ANALYSIATION OF DATA

Which age group do you belong to? Frequency Valid Under 30 31-45 46-60 60 and above Total 16 23 10 1 50 Percent 32.0 46.0 20.0 2.0 100.0 Valid Percent 32.0 46.0 20.0 2.0 100.0 Cumulative Percent 32.0 78.0 98.0 100.0

INTERPRETATIION Above table shows that 46% respondents age belong to 31-45.32% respondents are age under 30 and 20% respondents age belong to 46-to 60.

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What is your profession? Cumulative Frequency Valid private sector public sector business gov service other specify Total 10 19 16 4 1 50 Percent 20.0 38.0 32.0 8.0 2.0 100.0 Valid Percent 20.0 38.0 32.0 8.0 2.0 100.0 Percent 20.0 58.0 90.0 98.0 100.0

INTERPRETATION The above table shows the profile of respondents according to occupation, the table shows 38% of the respondents are working on public sector.36% of the respondents are businessmen.20% of the respondents are working on private sector. 8% of the respondents are Gov service.

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What is your annual income? Cumulative Frequency Valid less than one lakh 1-3 lakh 3-5 lakh Total 17 29 4 50 Percent 34.0 58.0 8.0 100.0 Valid Percent 34.0 58.0 8.0 100.0 Percent 34.0 92.0 100.0

INTERPRETETION The above table shows that 58% respondents income is 1 to 3 lakh. And 36% respondents income is less than 1 lakh.and 8% of the respondents income is 3 to 5 lakh.

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Are your aware health insurance? Frequency Valid Yes No Total 29 21 50 Percent 58.0 42.0 100.0 Valid Percent 58.0 42.0 100.0 Cumulative Percent 58.0 100.0

INTERPRETETION The above table shows that 58% of the respondents are aware of health insurance and 42% of the respondents dont know about health insurance.

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If yes, how you have come to know about health insurance? Cumulative Frequency Valid Television News paper Agents Friends Other specify Total Missing Total System 3 6 15 3 2 29 21 50 Percent 6.0 12.0 30.0 6.0 4.0 58.0 42.0 100.0 Valid Percent 10.3 20.7 51.7 10.3 6.9 100.0 Percent 10.3 31.0 82.8 93.1 100.0

I INTERPRETETION The above table shows that 30% of respondents are come to know about health insurance for agents throw.12% of respondents are news paper 3% of respondents are television and friends throw.

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Are you aware star health insurance and allied insurance co LTD? Cumulative Frequency Valid Yes No Total 9 41 50 Percent 18.0 82.0 100.0 Valid Percent 18.0 82.0 100.0 Percent 18.0 100.0

INTERPRETETION The above table shows that 82% of the respondents are not aware of star health and allied insurance co ltd and 18% of the respondents are aware the star health and allied insurance co ltd.

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If yes, please mention how you have known about star health insurance? Cumulative Frequency Valid Agents Televisions Friends/Relatives Other specify Total Missing Total System 2 3 2 2 9 41 50 Percent 4.0 6.0 4.0 4.0 18.0 82.0 100.0 Valid Percent 22.2 33.3 22.2 22.2 100.0 Percent 22.2 55.6 77.8 100.0

INTREPRETETION The above table shows that 82% of the missing, and that means they dont know about star health insurance. The remaining 18% of the respondents are aware of the star health insurance. Of the 18%,.6% respondents come to know about Star Health through television and 4% through the agents and remaining 8% know star health through friends &other.

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Have you taken star health insurance policy? Cumulative Frequency Valid Yes No Total Missing Total System 3 6 9 41 50 Percent 6.0 12.0 18.0 82.0 100.0 Valid Percent 33.3 66.7 100.0 Percent 33.3 100.0

INTERPRETTEION The above table shows that 82% of respondents dont know about star health insurance. and 12% of the responders are not taken.6% of the respondents are taken the star health insurance policy.

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If yes, please mention which policy you taken? Cumulative Frequency Valid Mediclaim policy Personal accident Total Missing Total System 2 1 3 47 50 Percent 4.0 2.0 6.0 94.0 100.0 Valid Percent 66.7 33.3 100.0 Percent 66.7 100.0

INTERPRETETION

The above table shows 4% of respondents have taken mediclaim policy and only 2% respondent have taken personal policy. Remaining respondents have not taken any policy.

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In the health insurance what would you expect from the company? Frequency Valid Recovery amount Facility from company Cash less benefits Total Missing Total System 14 5 28 47 3 50 Percent 28.0 10.0 56.0 94.0 6.0 100.0 Valid Percent 29.8 10.6 59.6 100.0 Cumulative Percent 29.8 40.4 100.0

INTERPRETETION The above table shows that 56% of respondents expect cash less benefits, 28% of respondents expect recovery amounts and 10% of the respondents expect additional facility from the Company.

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If you planning to invest in the star health insurance what are you looking? Frequency Valid Coverage Benefits Service Other specify Total Missing Total System 5 8 31 2 46 4 50 Percent 10.0 16.0 62.0 4.0 92.0 8.0 100.0 Valid Percent 10.9 17.4 67.4 4.3 100.0 Cumulative Percent 10.9 28.3 95.7 100.0

INTERPRETETION

The above table shows that 62% of respondents expecting Form Company are service, 16% of respondents expecting benefits and 5% of respondents expecting coverage.

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What mode of communication to remind to pay the money of the policy? Frequency Valid Mails Tele calling Letter Other specify Total Missing Total System 4 25 15 4 48 2 50 Percent 8.0 50.0 30.0 8.0 96.0 4.0 100.0 Valid Percent 8.3 52.1 31.2 8.3 100.0 Cumulative Percent 8.3 60.4 91.7 100.0

INTERPRETETION The above table shows that 50 % of respondents remind to pay the money of policy is tele calling through,30% respondents letter through,8%&8% of respondents through mail.

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Which kind of payment do you expect to pay the premium? Frequency Valid Cash Cheque Credit card DD Total Missing Total System 15 16 11 6 48 2 50 Percent 30.0 32.0 22.0 12.0 96.0 4.0 100.0 Valid Percent 31.2 33.3 22.9 12.5 100.0 Cumulative Percent 31.2 64.6 87.5 100.0

INTERPRETETION The above table shows that 32% of respondents expect to pay the premium through cheque , 30% of respondents through cash, 22% of respondents through credit card and 12% respondents are through. DDs.

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FINDINGS

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Findings
1) It is clear that 46% respondents belong to 31 to 45 age group,36% respondents are less than 30 age and 20% respondents are between 46 to 60 age group.

2) About 38% respondents working in public sector, 32% respondents are working as businessmen, 20% respondents are in private sector and 8% respondents are working in government sector.
3) 34% of the respondents have less than one lakh income,58% respondents have 1 to 3 lakh income and 8% respondents have 3 to 5 lakh income

4) In the market survey out of 50 respondents 58% respondents are aware of health insurance and 42% respondents dont know about health insurance.

5) According to the market survey 30% of the respondents come to know about HI through agents , 12% news paper through, and 6%&6% respondents are friends and television through.

6) As per the market survey 82% respondents dont know about star health and allied insurance co ltd and only 18% respondents are aware of the star health and allied insurance co ltd. 7) As per the data, respondents come to known about star health and allied insurance co ltd as: 6% respondents through television, 4% through agents and 4% through friends and others. 8) In the market survey only 6% respondents have taken star health and allied insurance co product. And 12% respondent have not taken the star company products. 9) As per the data analysis 4% respondents have taken mediclaim policy and 2% respondents have taken personal accidents policy and others have not taken other policy.

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10) As per the chart 59% respondents are expecting cash less benefits in the health insurance, 30% of respondents expect recovery of amounts and 10% respondents expect facility from the company. 11) A study of the market survey 50% respondents remind to pay the money of premium as tele calling through, 30% respondents are letter through and 8% respondents are expecting mail through. 12) When it comes to payment of the Premium, 32% of the respondents expressed that they prefer payment through cheque, and then30% of respondents expressed to pay through cash, 22% of respondents expressed to pay through credit card and 12% of respondents expressed to pay through DDs. .

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SUGGETION

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Suggestions
1) In survey my interaction with respondents many of them not given importance of health insurance. So that company has initiative to give awareness about health insurance. 2) The company has to give more importance on discounts for health insurance as to increase the sales of existing drags at chemistry shop.

3) Company has to do some awareness campaigns to attract the UG and PG students as many of the students are meeting with the customers. 4) Company has to increase its advertisements focusing on cashless benefits and network hospital. So that it makes easy to attract more health insurance policies for agents.

5) Company has to increase its service quality in order to increase the level of satisfaction towards approaching the common people for having insurance.

6) The company has to educate the agents timely updating all the changes made as agents the
employees who will approach to the people for insurance.

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CONCLUSION

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CONCLUSION
It is evident from the data the majority of the customers belong to the age group of 31-45. 58% of the respondents are aware of health insurance. They came to know about the Health Insurance through agents. Majority of the respondents are aware about Star Health Insurance Company. Even though there is quite awareness in the field it is necessary to take steps to educate people about healthcare insurance. Company has to increase its advertisements focusing on cashless benefits and network hospital. So that it makes easy to attract more health insurance policies for agents. Company has to increase its service quality in order to increase the level of satisfaction towards approaching the common people for having insurance. The company has to educate the agents timely updating all the changes made as agents the employees who will approach to the people for insurance. Company has to increase its advertisements focusing on cashless benefits and network hospital. So that it makes easy to attract more health insurance policies for agents. Health Insurance sector is one of the most booming sectors in India. The penetration level of health insurance in India is only 3 % the developed nations. There is a huge market for the health Insurance products in the future in India.

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ANNEXURE

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Questionnaire
I Kashappa Poojar the student of Chetan Business School, I am undertaking a project on A study on customer awareness of health insurance It is a part of MBA Curriculum. I request you to spare your valuable time and provide the information. I ensure that information furnished by you is used for academic purpose only.

Personal information:
NAME PHONE NUMBER ADDRESS

I) Which age group do you belong to? a) Under 30 [ ] b) 31 to45 [ ] c) 46 to 60 [ ] d) 60 and above [ ] II) What is your profession? a) Private sector [ ] b) Public sector [ ] c) Business [ ] d) Gov service [ ] e) Other (specify).. III) What is your annual income? a) Less than one lakh [ ] b) 1 to 3 lakh [ ] c) 3 to 5 lakh [ ] d) More than 5 lakh [ ] 1) Are you aware health insurance? a. Yes [ ] b. No [ ] (if no please skip 2end question) 2) If yes, how you have come to know about health insurance? a. Televisions [ ] b. News papers [ ] c. Agents [ ] d. Friends [ ] e. Others (specify) 3) Are you aware star health and allied insurance co LTD? a) Yes [ ] b) No [ ] (if no please skip 4th,5th&6th question)

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4) If yes, please mention how you have known about star health insurance? a. Agents [ ] b. Televisions [ ] c. Friend/Relatives [ ] d. Other specify.. 5) Have you taken star health insurance policy? a. Yes [ ] b. No [ ] (if no please skip 6th question ) 6) If yes please mention which policy you taken? a) family health optim [ ] d) senior citizen red carpet [ ] b) mediclaim policy [ ] c) Personal accident [ ] e)Other specify c 7) In the health Insurance what would you expect from the company? a) Recovery Amount [ ] b) facility from company [ ] c) Cash less benefit [ ] d) other Specify 8) If you planning to invest in the star health insurance what are you looking for?
a)Coverage [ ] c) Service [ ] b) Benefit [ ] d) Other specify.

9) What mode of communication to remind to pay the money of the policy? a) Mail [ ] b)Tele calling [ ] c) Letter [ ] d)Other specify.. 10) Which kind of payment do you expect to pay the premium? a) Cash [ ] b) Cheque [ ] c) Credit card [ ] d) DD [ ] 11) Any suggestion to health insurance .

Thank you

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BIBILOGRAHPY

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BIBLIOGRAHPY

www.starhealth.in

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