A Study on Level of Customers Satisfaction Towards Mediclaim Insurance Policy in Madurai City

Abstract

Health is a human right. Its accessibility and affordability have to be ensured. Health insurance provides an affordable way for the insured and his family to stay healthy and get medical care when an emergency health issue situation arises. The escalating cost of medical treatment is beyond the reach of the common man. Mediclaim or medical insurance is one of the most recent forms of insurance. Today with expensive treatment costs, even a mere health check-up has become unaffordable for many. It can extract a major amount of savings in just a few days or hours. But under the shelter of a medical insurance plan, the person can get relieved from this tension. As medical insurance policy offers to reimburse a pre-defined percentage of expenses incurred such as doctors consultation fees, pathological tests, x-ray, hospitalization, medicine, follow-ups, etc., The main purpose behind purchasing a health cover by the insured is to avail of quality health treatment without any burden of medical bills. A facility like cashless hospitalization entitles the insured to avail of the treatment on a cashless basis. Insured perception depends on the quality of service and products offered by the insurer according to the insured need. The purpose of this research is to study the level of satisfaction of the insured regarding the mediclaim policy in Madurai city. The research has been carried out to understand the cost of insured dissatisfaction and to determine the areas where the insurer needs to focus and strengthen its customer relationship. Therefore, an attempt has been made to study the perception of the insured regarding the mediclaim policy in Madurai city.