A Study of Consumer Buying Behaviour and Satisfaction Towards Health Insurance Services

Abstract

The landscape of health insurance in India is undergoing rapid transformation, fuelled by deregulation, decreased bureaucracy, and increased private financing. In this dynamic environment, understanding customer perceptions and preferences is essential. This study investigates these aspects along with customers' understanding of the market and purchasing decisions. Employing a non-probability convenience sampling method and utilizing a well-structured questionnaire, insights are gathered through extensive literature review. Statistical analysis using SPSS software, including regression analysis, provides robust findings. Key findings indicate a preference for comprehensive health insurance plans covering prescription drugs, routine check-ups, and emergency care. Health insurance is perceived as providing access to various healthcare services, enhancing overall well-being. Convenience, awareness, and preferences among customers drive satisfaction levels and influence product innovation. Policymakers have the opportunity to utilize these insights to formulate regulations promoting market transparency, consumer education, and affordability. By fostering innovation and protecting consumer interests, policymakers can stimulate industry growth and improve access to healthcare services. Tailoring offerings to customer needs and preferences is crucial for health insurance providers to ensure sustainability. These insights can shape regulations, enhance market transparency, and foster a healthier population and a more robust healthcare ecosystem.