Assessment of Consumer Willingness Regarding the Acceptance of a Customized Health Insurance Product-(CHIP)
Agency : Health Insurance, Coverage, Customization, Pre Designed Packages,
Objective : To
study the consumer willingness towards theiracceptance of a Customized
Health Insurance Product.
Background : To
see customer perception and willingness towardspurchase of Customized
Health Insurance Plan.
Like one size does not fit all, it is equally evident that all sizes do not fit
one. Customization is that perfect midway between giving customer a product
that is unique and one that is indistinguishable from every other product of
its kind. Unlike mass production, where products are essentially the same for
all the customers. This study attempts to understand customer perception over
the purchase of customized health insurance plan wherein they can design their
own bouquet of services amongst various insurance coverage being offered by the
Methodology : The
study was cross sectional exploratory with samplesize of 114
Findings : At the end of the
questionnaire the sample population was asked to rate their willingness to
purchase CHIP (Customized Health Insurance Plan) wherein they can design their
own bouquet of services and coverage according to their individual needs well
explained by an insurance consultant and at a premium they can afford. 74%
population was highly enthusiastic to purchase such a plan. 22% people were not
sure and 5% of the population did not show any interest in the customized plan.
Recommendations : Not Available
To study the consumer willingness towards their acceptance of a Customized Health Insurance Product.