SUMMER TRAINING REPORT

ON
CUSTOMER SATISFACTION AND EXPERIENCE WITH
NIVA BUPA HEALTH INSURANCE
A Project Report Submitted in the partial fulfillment of the requirements
for the award of the degree of
BACHELOR OF BUSINESS ADMINISTRATION
(BANKING AND INSURANCE)
Under the guidance of
MS. MANDEEP KAUR
Submitted by
ANKIT SINGH
Enroll no: 02491101821
(2021-2024)

SRI GURU TEGH BAHADUR INSTITUTE OF MANAGEMENT

AND INFORMATION TECHNOLOGY
(AFFILATED TO GGSIPU)

1
 DECLARATION
I hereby declared that the project work entitled CUSTOMER SATISFACTION
AND EXPERIENCE WITH NIVA BUPA HEALTH INSURANCE submitted to
the Guru Gobind Singh Indraprastha University is record of an original work
done by me under the guidance of Ms. Mandeep Kaur, faculty member, Sri Guru
Tegh Bahadur Institute Of Management and Information Technology.

……………..…………
Signature of the scholar
Place: Delhi ANKIT SINGH
Date: ________ Enrollment no-02491101821

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 CERTIFICATE
This is to certify that Ankit Singh student of Sri Guru Tegh Bahadur Institute of
Management and Information Technology of course BBA B&I Batch (2021-
2024) , has completed her research work titled “CUSTOMER SATISFACTION
AND EXPERIENCE WITH NIVA BUPA HEALTH INSURANCE” under the
guidance and supervision. The work submitted is genuine and authentic.

……................................
Signature of HOD
Dr. Bipasha Chaudhary

…………………………..
Signature of project Guide
Ms. Mandeep Kaur

………………………….
Place: Delhi Signature of Scholar
Date:- _________ Ankit Singh
Enrollment no: 02491101821

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 ACKNOWLEDGEMENT
With profound sense of gratitude & regard, I express my sincere thanks to my guide
& mentor, Ms. Mandeep Kaur for her valuable guidance and the confidence she
had in me, that helped me in successful completion of this project report. Her
through understanding of the subject and the professional guidance proved to be of
immense help to me. I am thankful to the faculty members of our institute who also
co-operated with me and gave me their valuable time.

…………………….
Signature of the scholar
ANKIT SINGH
Enrollment no.
02491101821
Place: Delhi
Date:__________

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CERTIFICATE OF INTERNSHIP

5
 TABLE OF CONTENT

S No. TOPIC PAGE

NO.
DECLARATION
CERTIFICATE
ACKNOWLEDGEMENT
CERTIFICATE OF INTERNSHIP
1 CHAPTER -1 INTRODUCTION TO INDUSTRY 8-22
1.1 History of Insurance
1.2 Principle Of Insurance
1.3 Social Effect of Insurance
1.4 Types Of Insurance

2 CHAPTER- 2 INTRODUCTION TO COMPANY 23-32

2.1 History And Overview of Niva Bupa
2.2 Products Of Niva Bupa
2.3 Benefits Of Niva Bupa Health Insurance
2.4 Award and Recognitions
3 CHAPTER-3 CONSUMER SATISFACTION 33-41
3.1 Introduction
3.2 Nature Of Customer Behaviour
3.3 Change In Customer Behaviour In Insurance
Buying
3.4 Customers Experience

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S NO. TOPIC PAGE
NO.
4 CHAPTER- 4 RESEARCH METHODOLOGY 42-45
4.1 Objective Of The Study
4.2 Types Of Research
4.3 Data Collection Techniques
4.4 Questionnaire Design
4.5 Sampling Techniques
4.6 Limitations Of The Study
5 CHAPTER- 5 DATA ANALYSIS AND INTERPRETATION 46-53

6 CHAPTER-6 FINDINGS OF THE STUDY 54-55

7 CHAPTER-7 CONCLUSION OF THE STUDY 56

8 CHAPTER-8 RECOMMENDATION AND SUGGESTIONS 57-58

BIBLIOGRAPHY

ANNEXURE

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 CHAPTER 1
INTRODUCTION TO INDUSTRY

Insurance is a means of protection from financial loss in which, in exchange for a fee, a
party agrees to compensate another party in the event of a certain loss, damage, or injury.
It is a form of risk management, primarily used to hedge against the risk of a contingent
or uncertain loss.

An entity which provides insurance is known as an insurer, insurance

company, insurance carrier, or underwriter. A person or entity who buys insurance is
known as a policyholder, while a person or entity covered under the policy is called
an insured. The insurance transaction involves the policyholder assuming a guaranteed,
known, and relatively small loss in the form of a payment to the insurer (a premium) in
exchange for the insurer's promise to compensate the insured in the event of a covered
loss. The loss may or may not be financial, but it must be reducible to financial terms.

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Furthermore, it usually involves something in which the insured has an insurable
interest established by ownership, possession, or pre-existing relationship.

The insured receives a contract, called the insurance policy, which details the conditions
and circumstances under which the insurer will compensate the insured, or their
designated beneficiary or assignee. The amount of money charged by the insurer to the
policyholder for the coverage set forth in the insurance policy is called the premium. If
the insured experiences a loss which is potentially covered by the insurance policy, the
insured submits a claim to the insurer for processing by a claims adjuster. A
mandatory out-of-pocket expense required by an insurance policy before an insurer will
pay a claim is called a deductible (or if required by a health insurance policy,
a copayment). The insurer may hedge its own risk by taking out reinsurance, whereby
another insurance company agrees to carry some of the risks, especially if the primary
insurer deems the risk too large for it to carry.

1.1 HISTORY

Early methods

Methods for transferring or distributing risk were practiced

by Chinese and Indian traders as long ago as the 3rd and 2nd millennia BC,
respectively. Chinese merchants travelling treacherous river rapids would redistribute
their wares across many vessels to limit the loss due to any single vessel capsizing.

Codex Hammurabi Law 238 (c. 1755–1750 BC) stipulated that a sea captain, ship-
manager, or ship charterer that saved a ship from total loss was only required to pay one-
half the value of the ship to the ship-owner. In the Digesta seu Pandectae (533), the
second volume of the codification of laws ordered by Justinian I (527–565), a legal
opinion written by the Roman jurist Paulus in 235 AD was included about the Lex
9
Rhodia ("Rhodian law"). It articulates the general average principle of marine
insurance established on the island of Rhodes in approximately 1000 to 800 BC,
plausibly by the Phoenicians during the proposed Dorian invasion and emergence of the
purported Sea Peoples during the Greek Dark Ages (c. 1100–c. 750).

The law of general average is the fundamental principle that underlies all insurance In
1816, an archeological excavation in Minya, Egypt produced a dynasty-era tablet from
the ruins other Temple of Antinous in Antinoöpolis, Aegyptus. The tablet prescribed
a burial society collegium established in Lanuvium, Italia in approximately 133 AD
during the reign of Hadrian (117–138) of the Roman Empire In 1851 AD, future U.S.
Supreme Court Associate Justice Joseph P. Bradley (1870–1892 AD), once employed as
an actuary for the Mutual Benefit Life Insurance Company, submitted an article to
the Journal of the Institute of Actuaries. His article detailed an historical account of
a Severan dynasty-era life table compiled by the Roman jurist Ulpian in approximately
220 AD that was also included in the Digesta.

Concepts of insurance has been also found in 3rd century BC Hindu scriptures such
as Dharmasastra, Arthashastra and Manusmriti. The ancient Greeks had marine loans.
Money was advanced on a ship or cargo, to be repaid with large interest if the voyage
prospers. However, the money would not be repaid at all if the ship were lost, thus
making the rate of interest high enough to pay for not only for the use of the capital but
also for the risk of losing it (fully described by Demosthenes). Loans of this character
have ever since been common in maritime lands under the name of bottomry and
respondentia bonds.

The direct insurance of sea-risks for a premium paid independently of loans began
in Belgium about 1300 AD.

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Separate insurance contracts (i.e., insurance policies not bundled with loans or other
kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools
backed by pledges of landed estates. The first known insurance contract dates from
Genoa in 1347. In the next century, maritime insurance developed widely, and premiums
were varied with risks These new insurance contracts allowed insurance to be separated
from investment, a separation of roles that first proved useful in marine insurance.

The earliest known policy of life insurance was made in the Royal Exchange, London,
on the 18th of June 1583, for £383, 6s. 8d. for twelve months on the life of William
Gibbons.

Modern methods

Insurance became far more sophisticated in Enlightenment-era Europe, where

specialized varieties developed.

Property insurance as we know it today can be traced to the Great Fire of London, which
in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted
the development of insurance "from a matter of convenience into one of urgency, a
change of opinion reflected in Sir Christopher Wren's inclusion of a site for "the
Insurance Office" in his new plan for London in 1667." ] A number of attempted fire
insurance schemes came to nothing, but in 1681, economist Nicholas Barbon and eleven
associates established the first fire insurance company, the "Insurance Office for
Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially,
5,000 homes were insured by his Insurance Office.

At the same time, the first insurance schemes for the underwriting of business
ventures became available. By the end of the seventeenth century, London's growth as a
centre for trade was increasing due to the demand for marine insurance. In the late

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1680s, Edward Lloyd opened a coffee house, which became the meeting place for parties
in the shipping industry wishing to insure cargoes and ships, including those willing to
underwrite such ventures. These informal beginnings led to the establishment of the
insurance market Lloyd's of London and several related shipping and insurance
businesses.

Life insurance policies were taken out in the early 18th century. The first company to
offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded
in London in 1706 by William Talbot and Sir Thomas Allen. Upon the same
principle, Edward Rowe Mores established the Society for Equitable Assurances on
Lives and Survivorship in 1762.

It was the world's first mutual insurer and it pioneered age based premiums based
on mortality rate laying "the framework for scientific insurance practice and
development" and "the basis of modern life assurance upon which all life assurance
schemes were subsequently based."

In the late 19th century "accident insurance" began to become available. The first
company to offer accident insurance was the Railway Passengers Assurance Company,
formed in 1848 in England to insure against the rising number of fatalities on the
nascent railway system.

The first international insurance rule was the York Antwerp Rules (YAR) for the
distribution of costs between ship and cargo in the event of general average. In 1873 the
"Association for the Reform and Codification of the Law of Nations", the forerunner of
the International Law Association (ILA), was founded in Brussels. It published the first
YAR in 1890, before switching to the present title of the "International Law Association"
in 1895.

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By the late 19th century governments began to initiate national insurance programs
against sickness and old age. Germany built on a tradition of welfare programs in Prussia
and Saxony that began as early as in the 1840s. In the 1880s Chancellor Otto von
Bismarck introduced old age pensions, accident insurance and medical care that formed
the basis for Germany's welfare state In Britain more extensive legislation was
introduced by the Liberal government in the 1911 National Insurance Act. This gave the
British working classes the first contributory system of insurance against illness and
unemployment. This system was greatly expanded after the Second World War under the
influence of the Beveridge Report, to form the first modern welfare state.

In 2008, the International Network of Insurance Associations (INIA), then an informal

network, became active and it has been succeeded by the Global Federation of Insurance
Associations (GFIA), which was formally founded in 2012 to aim to increase insurance
industry effectiveness in providing input to international regulatory bodies and to
contribute more effectively to the international dialogue on issues of common interest. It
consists of its 40 member associations and 1 observer association in 67 countries, which
companies account for around 89% of total insurance premiums worldwide.

1.2 PRINCIPLES OF INSURANCE

Insurance involves pooling funds from many insured entities (known as exposures) to
pay for the losses that only some insureds may incur. The insured entities are therefore
protected from risk for a fee, with the fee being dependent upon the frequency and
severity of the event occurring. In order to be an insurable risk, the risk insured against
must meet certain characteristics. Insurance as a financial intermediary is a commercial
enterprise and a major part of the financial services industry, but individual entities can
also self-insure through saving money for possible future losses.

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Insurability

Risk which can be insured by private companies typically share seven common
characteristics

1. A large number of similar exposure units: Since insurance operates through

pooling resources, the majority of insurance policies cover individual members of
large classes, allowing insurers to benefit from the law of large numbers in which
predicted losses are similar to the actual losses. Exceptions include Lloyd's of
London, which is famous for insuring the life or health of actors, sports figures,
and other famous individuals. However, all exposures will have distinct
differences, which may lead to different premium rates.
2. Definite loss: This type of loss takes place at a known time and place from a
known cause. The classic example involves the death of an insured person on a
life insurance policy. Fire, automobile accidents, and worker injuries may all
easily meet this criterion. Other types of losses may only be definite in
theory. Occupational disease, for instance, may involve prolonged exposure to
injurious conditions where no specific time, place, or cause is identifiable. Ideally,
the time, place, and cause of a loss should be clear enough that a reasonable
person, with sufficient information, could objectively verify all three elements.
3. Accidental loss: The event that constitutes the trigger of a claim should be
fortuitous, or at least outside the control of the beneficiary of the insurance. The
loss should be pure because it results from an event for which there is only the
opportunity for cost. Events that contain speculative elements such as ordinary
business risks or even purchasing a lottery ticket are generally not considered
insurable.
4. Large loss: The size of the loss must be meaningful from the perspective of the
insured. Insurance premiums need to cover both the expected cost of losses, plus
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 the cost of issuing and administering the policy, adjusting losses, and supplying
the capital needed to reasonably assure that the insurer will be able to pay claims.
For small losses, these latter costs may be several times the size of the expected
cost of losses. There is hardly any point in paying such costs unless the protection
offered has real value to a buyer.
5. Affordable premium: If the likelihood of an insured event is so high, or the cost of
the event so large, that the resulting premium is large relative to the amount of
protection offered, then it is not likely that insurance will be purchased, even if on
offer. Furthermore, as the accounting profession formally recognizes in financial
accounting standards, the premium cannot be so large that there is not a
reasonable chance of a significant loss to the insurer. Suppose there is no such
chance of loss. In that case, the transaction may have the form of insurance, but
not the substance (see the U.S. Financial Accounting Standards
Board pronouncement number 113: "Accounting and Reporting for Reinsurance
of Short-Duration and Long-Duration Contracts").
6. Calculable loss: There are two elements that must be at least estimable, if not
formally calculable: the probability of loss and the attendant cost. Probability of
loss is generally an empirical exercise, while cost has more to do with the ability
of a reasonable person in possession of a copy of the insurance policy and a proof
of loss associated with a claim presented under that policy to make a reasonably
definite and objective evaluation of the amount of the loss recoverable as a result
of the claim.
7. Limited risk of catastrophically large losses: Insurable losses are
ideally independent and non-catastrophic, meaning that the losses do not happen
all at once and that individual losses are not severe enough to bankrupt the
insurer; insurers may prefer to limit their exposure to a loss from a single event to

15
 some small portion of their capital base. Capital constrains insurers' ability to
sell earthquake insurance as well as wind insurance in hurricane zones. In the
United States, the federal government insures flood risk in specifically identified
areas. In commercial fire insurance, it is possible to find single properties whose
total exposed value is well in excess of any individual insurer's capital constraint.
Such properties are generally shared among several insurers or are insured by a
single insurer which syndicates the risk into the reinsurance market.

 Legal

When a company insures an individual entity, there are basic legal requirements and
regulations. Several commonly cited legal principles of insurance include;

1. Indemnity – the insurance company indemnifies or compensates the insured in the

case of certain losses only up to the insured's interest.
2. Benefit insurance – as it is stated in the study books of The Chartered Insurance
Institute, the insurance company does not have the right of recovery from the
party who caused the injury and must compensate the Insured regardless of the
fact that Insured had already sued the negligent party for the damages (for
example, personal accident insurance)
3. Insurable interest – the insured typically must directly suffer from the loss.
Insurable interest must exist whether property insurance or insurance on a person
is involved. The concept requires that the insured have a "stake" in the loss or
damage to the life or property insured. What that "stake" is will be determined by
the kind of insurance involved and the nature of the property ownership or
relationship between the persons. The requirement of an insurable interest is what
distinguishes insurance from gambling.

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 4. Utmost good faith – (Uberrima fides) the insured and the insurer are bound by
a good faith bond of honesty and fairness. Material facts must be disclosed.
5. Contribution – insurers, which have similar obligations to the insured, contribute
in the indemnification, according to some method.
6. Subrogation – the insurance company acquires legal rights to pursue recoveries on
behalf of the insured; for example, the insurer may sue those liable for the
insured's loss. The Insurers can waive their subrogation rights by using the special
clauses.
7. Causa proxima, or proximate cause – the cause of loss (the peril) must be covered
under the insuring agreement of the policy, and the dominant cause must not
be excluded
8. Mitigation – In case of any loss or casualty, the asset owner must attempt to keep
loss to a minimum, as if the asset was not insured.

 Indemnification

To "indemnify" means to make whole again, or to be reinstated to the position that

one was in, to the extent possible, prior to the happening of a specified event or peril.
Accordingly, life insurance is generally not considered to be indemnity insurance, but
rather "contingent" insurance (i.e., a claim arises on the occurrence of a specified event).
There are generally three types of insurance contracts that seek to indemnify an insured:

1. A "reimbursement" policy
2. A "pay on behalf" or "on behalf of policy"
3. An "indemnification" policy

From an insured's standpoint, the result is usually the same: the insurer pays the loss and
claims expenses.

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If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss
and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs
including, with the permission of the insurer, claim expenses.

Under a "pay on behalf" policy, the insurance carrier would defend and pay a claim on
behalf of the insured who would not be out of pocket for anything. Most modern liability
insurance is written on the basis of "pay on behalf" language, which enables the
insurance carrier to manage and control the claim.

Under an "indemnification" policy, the insurance carrier can generally either "reimburse"
or "pay on behalf of", whichever is more beneficial to it and the insured in the claim
handling process.

An entity seeking to transfer risk (an individual, corporation, or association of any type,
etc.) becomes the "insured" party once risk is assumed by an "insurer", the insuring
party, by means of a contract, called an insurance policy. Generally, an insurance
contract includes, at a minimum, the following elements: identification of participating
parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage,
the particular loss event covered, the amount of coverage (i.e., the amount to be paid to
the insured or beneficiary in the event of a loss), and exclusions (events not covered). An
insured is thus said to be "indemnified" against the loss covered in the policy.

When insured parties experience a loss for a specified peril, the coverage entitles the
policyholder to make a claim against the insurer for the covered amount of loss as
specified by the policy. The fee paid by the insured to the insurer for assuming the risk is
called the premium. Insurance premiums from many insureds are used to fund accounts
reserved for later payment of claims – in theory for a relatively few claimants – and

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for overhead costs. So long as an insurer maintains adequate funds set aside for
anticipated losses (called reserves), the remaining margin is an insurer's profit.

1.3 SOCIAL EFFECT OF INSURANCE

Insurance can have various effects on society through the way that it changes who bears
the cost of losses and damage. On one hand it can increase fraud; on the other it can help
societies and individuals prepare for catastrophes and mitigate the effects of catastrophes
on both households and societies.

Insurance can influence the probability of losses through moral hazard, insurance fraud,
and preventive steps by the insurance company. Insurance scholars have typically
used moral hazard to refer to the increased loss due to unintentional carelessness and
insurance fraud to refer to increased risk due to intentional carelessness or
indifference. Insurers attempt to address carelessness through inspections, policy
provisions requiring certain types of maintenance, and possible discounts for loss
mitigation efforts. While in theory insurers could encourage investment in loss reduction,
some commentators have argued that in practice insurers had historically not
aggressively pursued loss control measures—particularly to prevent disaster losses such
as hurricanes—because of concerns over rate reductions and legal battles. However,
since about 1996 insurers have begun to take a more active role in loss mitigation, such
as through building codes.

Methods of insurance

According to the study books of The Chartered Insurance Institute, there are variant
methods of insurance as follows:

1. Co-insurance – risks shared between insurers (sometimes referred to as

"Retention")
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 2. Dual insurance – having two or more policies with overlapping coverage of a risk
(both the individual policies would not pay separately – under a concept named
contribution, they would contribute together to make up the policyholder's losses.
However, in case of contingency insurances such as life insurance, dual payment
is allowed)
3. Self-insurance – situations where risk is not transferred to insurance companies
and solely retained by the entities or individuals themselves

4. Reinsurance – situations when the insurer passes some part of or all risks to
another Insurer, called the reinsurer

1.4 Types of Insurance

There are many different types of insurance. Let’s look at the most important.

 Health Insurance:

Health insurance helps covers routine and emergency medical care costs, often with the
option to add vision and dental services separately. In addition to an annual deductible,
you may also pay copays and coinsurance, which are your fixed payments or percentage
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of a covered medical benefit after meeting the deductible. However, many preventive
services may be covered for free before these are met.

Health insurance may be purchased from an insurance company, an insurance agent, the
federal Health Insurance Marketplace, provided by an employer, or federal Medicare
and Medicaid coverage.

The federal government no longer requires Americans to have health insurance, but in
some states, such as California, you may pay a tax penalty if you don't have insurance.

If you have chronic health issues or need regular medical attention, look for a health
insurance policy with a lower deductible. Though the annual premium is higher than a
comparable policy with a higher deductible, less-expensive medical care year-round
may be worth the tradeoff.

 Home Insurance:
Homeowners insurance (also known as home insurance) protects your home, other
property structures, and personal possessions against natural disasters, unexpected
damage, theft, and vandalism. Renter's insurance is another type of homeowners
insurance.

Homeowner insurance won't cover floods or earthquakes, which you'll have to protect
against separately.

Your lender or landlord will likely require you to have homeowners insurance coverage.
Where homes are concerned, you don't have coverage or stop paying your insurance
bill, your mortgage lender is allowed to buy homeowners insurance for you and charge
you for it.

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  Auto Insurance:
Auto insurance can help pay claims if you injure or damage someone else's property in a
car accident, help pay for accident-related repairs on your vehicle, or repair or replace
your vehicle if stolen, vandalized, or damaged by a natural disaster.

Instead of paying out of pocket for auto accidents and damage, people pay
annual premiums to an auto insurance company. The company then pays all or most of
the covered costs associated with an auto accident or other vehicle damage.

If you have a leased vehicle or borrowed money to buy a car, your lender or leasing
dealership will likely require you to carry auto insurance. As with homeowners
insurance, the lender may purchase insurance for you if necessary.

 Life Insurance:
A life insurance policy guarantees that the insurer pays a sum of money to your
beneficiaries (such as a spouse or children) if you die. In exchange, you pay premiums
during your lifetime.

There are two main types of life insurance. Term life insurance covers you for a specific
period, such as 10 to 20 years. If you die during that period, your beneficiaries receive a
payment. Permanent life insurance covers your whole life as long as you continue
paying the premiums.

Travel insurance covers the costs and losses associated with traveling, including trip
cancellations or delays, coverage for emergency healthcare, injuries and evacuations,
and damaged baggage, rental cars, and rental homes.

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 CHAPTER 2
INTRODUCTION TO COMPANY

2.1 HISTORY AND OVERVIEW OF NIVA BUPA

Niva Bupa Health Insurance Company Limited (Niva Bupa) is an Indian health
insurance company, founded in 2008. It is headquartered in New Delhi, India

Niva Bupa Health Insurance Company Ltd. (formerly known was Max Bupa Health
Insurance Company Limited) is a joint venture between Fettle Tone LLP (an affiliate of
True North Fund VI LLP), an Indian private equity firm, and the UK based healthcare
services expert, Bupa Singapore Holdings Pvt. Limited.

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The company is regulated by the Insurance Regulatory and Development Authority of
India (IRDAI).

Niva Bupa Health Insurance was founded in 2008 as a joint venture between Max India
and Bupa and started operations in 2010.

In Jun 2011, it integrated with Insurance Regulatory and Development Authority's

Integrated Grievance Management System in real-time, which made the company the
first health insurance company in India to have such a system.

In April 2019, the company launched 'AnyTimeHealth (ATH)' machines that allow
customers to buy health insurance cover in a few seconds.

In February 2019, Max India's entire 51 per cent stake was acquired by Fettle Tone LLP,
an affiliate of private equity firm True North for ₹1,010 crore (US$130 million). It
distributes its policies through its agency force and bancassurance partners HDFC Bank,
SIB Bank, Federal Bank, Axis Bank Karur Vysya Bank, Bank of Baroda, Indian
Bank and IDBI Bank.

The insurer offers a wide range of health insurance plans that cater to different
requirements of individuals. It has affordable health insurance plans for everyone,
including individuals, families, senior citizens, women, parents, self-employed people
and children. Another highlight is that the insurance company is known for offering
painless health insurance claims experience. As there are no third-party agents involved,
hence the claims are settled directly. The insurance company has a network of more than
7,000 hospitals across the country where the insured can avail of cashless treatment.
Besides, the insurer is committed to motivating its customers towards living a healthy
life. For this, it has introduced various digital solutions such as Health App and
AnyTimeHealth (ATH) Kiosks.
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 2,2 NIVA BUPA HEALTH INSURANCE PRODUCTS

Niva Bupa Health Insurance offers several health insurance plans to customers. These
are listed below:
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 Niva Bupa Corona Kavach Policy: Niva Bupa Corona Kavach Policy is a short
term policy that covers you for expenses arising due to treatment required on
positive diagnosis of COVID-19. The policy comes with a short waiting period and
covers you for in-patient hospitalisation expenses, pre-hospitalisation and post-
hospitalisation expenses, road ambulance expenses, AYUSH treatment expenses,
etc. People aged between 1 day and 65 years can be covered under this policy for
sum insured options ranging between Rs. 50,000 and Rs. 5 Lakh in multiples of Rs.
50,000. You can buy this policy for 3.5 months, 6.5 months, or 9.5 months as per
your budget and other requirements. Also, you can add up to 2 adults (including
self) and 4 children under this policy.
 Niva Bupa Health Premia Policy: Niva Bupa Health Premia Policy offers all
round coverage to you and your family as per your requirements. The policy offers
coverage for up to Rs. 3 crore on an individual or family floater basis. The policy
comes in three variants, which are Gold, Silver and Platinum. All of these variants
differ in terms of features and benefits. The policy offers cover for in-patient
hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses,
domiciliary hospitalisation expenses, alternative treatments, emergency ambulance
expenses, organ transplant expenses, etc. Also, it comes with several add-on covers
which you can choose as per your requirement and budget. Some of the standout
features of this policy are loyalty additions, maternity benefit, health check-up and
refill benefit.
 Niva Bupa Health Companion: Niva Bupa Health Companion Policy comes with
smart features to cover you and your family against major healthcare expenses. The
policy comes in 3 variants with sum insured options ranging between Rs. 3 Lakh
and Rs. 1 crore. It covers you for in-patient hospitalisation expenses, pre-
hospitalisation and post-hospitalisation expenses, emergency ambulance expenses,

26
 domiciliary hospitalisation expenses, organ transplant, etc. The policy comes with
add-on covers including hospital cash which you can choose as per your budget and
requirement. Some of the standout benefits of the policy include No Claim Bonus,
refill benefit, tax benefit, alternative treatments etc.
 Niva Bupa Money Saver: Niva Bupa Money Saver is a combination of base and
top-up plan that offer stronger protection to you and your family for sum insured of
up to Rs. 1 crore. It offers the benefits of both Health Companion and Health
Recharge Policy. It offers you cover for in-patient hospitalisation expenses, pre-
hospitalisation and post-hospitalisation, organ transplant, daycare procedures,
ambulance expenses, domiciliary hospitalisation expenses, etc. Along with the
policy, you can buy add-on covers namely personal add-on covers, hospital cash,
critical illness cover, by paying an extra premium.
 Niva Bupa ReAssure: ReAssure is a comprehensive health insurance plan that
covers individuals and families for various healthcare expenses. These include in-
patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation
expenses, organ donor expenses, daycare treatments, domiciliary hospitalisation
expenses, emergency ambulance expenses, etc. Some of the standout features of the
policy include ReAssure, Booster benefit, tax benefits, health check-up, etc. There
are 3 add-on covers that you can include in your policy, namely hospital cash,
personal accident cover, and safeguard. You can include them by paying an extra
premium at the time of buying the policy.
 Niva Bupa Arogya Sanjeevani Policy: Niva Bupa Arogya Sanjeevani Policy is a
standard health insurance plan launched by the IRDA for individuals and families
to offer protection against major healthcare expenses. The policy is easy to
understand and can be purchased by people aged between 18 years and 65 years. It
comes with sum insured options ranging between Rs. 1 Lakh and Rs. 5 Lakh which

27
 you can choose as per your budget. The policy covers you for in-patient
hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses,
ambulance expenses, AYUSH treatment expenses, daycare treatments, cataract
treatment, plastic surgery and dental treatments necessitated due to a disease or an
illness, etc. Another highlight of the policy is that it covers you for expenses arising
due to hospitalisation because of COVID-19.
 Niva Bupa Health Pulse: Niva Bupa Health Pulse Policy is easy on the pocket and
good for your health, It comes in two variants with sum insured options between
Rs. 3 Lakh and Rs. 25 Lakh. The policy covers you and your family for in-patient
hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses,
emergency ambulance expenses, organ donor expenses, daycare treatments, health
check-up, etc. Some standout benefits of the policy include cover for alternative
treatments, lifetime renewability benefit, tax benefits under Section 80D of the
Income Tax Act, 1961.
 Niva Bupa Health Recharge: Niva Bupa Health Recharge is an affordable top-up
plan that covers you for in-patient hospitalisation expenses, pre-hospitalisation and
post-hospitalisation expenses, domiciliary hospitalisation expenses, organ
transplant expenses, daycare expenses, emergency ambulance expenses, etc. Along
with the policy, you can include add-on covers for extra coverage. These include
personal accident cover, critical illness cover, and annual aggregate deductible, as
per your requirement. Some of the standout features of the policy include free look
period, lifetime renewability benefit, tax benefits on the premium paid, etc.
 Niva Bupa Criticare: Criticare Policy covers you against 20 critical illnesses,
some of which include stroke, caneer, permanent paralysis of limbs, open chest
CABG, first heart attack of specified severity, etc. The policy covers up to 2 adults
and can be purchased for a term of 1 year, 2 years, or 3 years. If covered under the

28
 policy, you can also avail tax benefits under Section 80D of the Income Tax Act
1961, on the premium paid for it. Also, the policy is renewable for lifetime.
 Niva Bupa Heartbeat: Heartbeat Policy offers comprehensive cover that comes in
two variants namely Gold and Platinum, for sum insured options between Rs. 5
Lakh and Rs. 1 crore. The policy offers cover for several healthcare expenses,
including in-patient hospitalisation expenses, domiciliary expenses, alternative
treatments, emergency ambulance expenses, pre-hospitalisation and post-
hospitalisation expenses, daycare treatments, etc. The policy comes with several
add-on covers like hospital cash, e-consultation, personal accident cover, critical
illness cover, and premium waiver. They are not mandatory to buy but offer
extensive coverage at an affordable premium.
 Niva Bupa GoActive: GoActive is a new-age health insurance plan for families
that helps you access cashless OPD and diagnostic services. The family covers up
to 2 adults and 4 children for several healthcare expenses including daycare
treatments, OPD consultations, health coach, in-patient hospitalisation expenses,
emergency ambulance expenses, health check-up, etc. Some of the standout
features of this plan include early age advantage, organ transplant, i-protect
(optional), and refill benefit. It comes with several add-on features that you can buy
as per your requirement.
 Niva Bupa SuperSaver Policy: SuperSaver Policy is an affordable combo that
offers health insurance coverage of up to Rs. 1 crore. The policy comes at an
affordable premium and can cover individuals as well as families. The policy can
be purchased for 1 year, 2 years, or 3 years, as per the requirement. It covers you
for several healthcare expenses including in-patient hospitalisation expenses, pre-
hospitalisation and post-hospitalisation expenses, emergency ambulance expenses,
domiciliary expenses, daycare treatments, hospital accommodation expenses, etc.

29
 Some of the standout features of this policy include unlimited e-consultation, tax
benefits on the premium paid, cover for modern treatments, lifetime renewability
benefit, and multi-year discount.

2.3 BENEFIT OF NIVA BUPA HEALTH INSURANCE

Niva Bupa Health Insurance offers several benefits to the policyholders, thereby making
itself a preferred choice for many. Listed below are some of them:

 Painless Health Insurance Claim Settlement: Niva Bupa Health Insurance

offers a quick and easy claim settlement process to the insured. It includes a
cashless hospital network, quick and convenient doctor consultations, and
doorstep connect for diagnostics, and pharmacies. In cashless claims, the insurer
offers benefits like direct claim settlement, 30 minutes cashless claim processing,
and personal touch points. When it comes to reimbursement claims, the benefits
offered include transparent reimbursement disbursal process and direct
reimbursement payment.
 Wide Network of Hospitals: Niva Bupa Health Insurance has a wide network of
7,000 hospitals where the insured can avail cashless treatments without any hassle.
At these hospitals, you can avail either planned hospitalisation or emergency
hospitalisation. Just that you will be required to inform the insurance company in
advance within the stipulated time and you can avail benefits as per your policy
terms and conditions.
 High Claim Settlement Ratio: Health insurance policy is useful only if it offers
you the benefits in case of a claim. Niva Bupa Health Insurance has a good Claim
Settlement Ratio of 89.46%. This shows that the insurance company is good at
handling claims of the insured.

30
  Awards And Accolades: Niva Bupa Health Insurance has won several awards
and accolades, some of which include The Economic Times Best Brands 2019
award, The Super Brand 2019 award, ‘Technology Maturity’ award, etc. This
shows that the insurer has gained popularity for the right reasons.
 Health App: Niva Bupa Health Insurance has a Health App that enables the
policyholders to book OPD appointments with doctors or at a pathology lab to
undergo diagnostic tests, allows them to take e-consultations, get medicines at
home, as well as give easy access to health insurance plans. The application was
awarded the Best Tech for Health Category 2019, with the app crossing 1.5 Lakh
downloads.

2.4 Awards & Recognitions

Niva Bupa Health Insurance Company Limited has been conferred with
several notable awards over the years -

 They were honoured with 'The Economic Times Best Brands 2019'
award.
 Their Max Health Insurance Plan was acknowledged as the Most
Innovative and Diversified Product in Asia Pacific in 2018.
 Their Heartbeat Health Insurance Plan received the Innovation of the
Year award at the Golden Peacock Awards 2015.
 They also received the 'IT Leadership Award' at the Asia Insurance
Technology Awards 2014.
 Their exceptional work was acknowledged with the Best Client Agency
Idea award at the Loyalty Awards 2014.

31
 2.5 VISSION AND MISSION OF NIVA BUPA

Vision:- The Vision of Niva Bupa Health Insurancis is to be a trusted partner in

peoples healthcare journey. They aim to provide innovative and comprehensive
health insurance solutions that cater to the evolving needs of individuals and
families. Their vision is to ensure that everyone has assest to quality healthcare and
financial protection in time of medical emergency.

Mission:- The mission of Niva Bupa Health Insurance is to provide people with
access to good health and cover their medical expenses. Its goal is to keep people
worry-free and assist them in maintaining their well- being.

32
 CHAPTER 3

CONSUMER SATISFACTION

3.1 Introduction
Consumer behavior is the study of individuals, groups, or organisations and all the
activities associated with the purchase, use and disposal of goods and services.
Consumer behaviour consists of how the consumer's emotions, attitudes,
and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–
1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary
social science that blends elements
from psychology, sociology, socialanthropology, anthropology, ethnography, ethnology,
marketing, and economics (especially behavioural economics).

The study of consumer behaviour formally investigates individual qualities such

as demographics, personality lifestyles, and behavioural variables (such as usage rates,
usage occasion, loyalty, brand advocacy, and willingness to provide referrals), in an
attempt to understand people's wants and consumption patterns. Consumer behaviour
also investigates on the influences on the consumer, from social groups such as family,
friends, sports, and reference groups, to society in general (brand-influencers, opinion
leaders).

Research has shown that consumer behaviour is difficult to predict, even for experts in
the field; however, new research methods, such as ethnography, consumer neuroscience,
and machine learning are shedding new light on how consumers make decisions. In
addition, customer relationship management (CRM) databases have become an asset for
the analysis of customer behaviour. The extensive data produced by these databases
enables detailed examination of behavioural factors that contribute to customer re-
33
purchase intentions, consumer retention, loyalty, and other behavioural intentions such
as the willingness to provide positive referrals, become brand advocates, or engage in
customer citizenship activities. Databases also assist in market segmentation, especially
behavioural segmentation such as developing loyalty segments, which can be used to
develop tightly targeted customised marketing strategies on a one-to-one basis.

3.2 Nature Of Consumer Behaviour

I. Influenced by various factors:

The various factors that influence the consumer behavior are as follows:

a) Marketing factors such as product design, price, promotion, positioning and

distribution.

b) personal factors such as age, gender, education, and income level.

c) Psychological factors such as buying motives,perception of the product and attitudes

towards the product.

d) Situational factors such as physical surroundings at the time of purchase, social

surroundings and time factor.

e) Social factors such as social status, reference groups and family.

II) Undergoes a constant change:

Consumer behavior is not static. It undergoes a change over a period of time depending
on the nature of products. For example , Kids prefer colorful and fancy footwear, and as
middle-aged and senior citizens they prefer more sober footwear. The change in buying
behavior may take place due to several other factors such as increase in income level,
education level and marketing factors.
34
III) Varies from consumer to consumer:

All consumer do not behave in the same manner. Different consumer behaves
differently. The differences in consumer behavior are due to individual factors such as
the nature of the consumers, lifestyle and culture. For example, some consumers are
technoholies. They go on a shopping and spend beyond their means.

They borrow money from friends, relatives, banks, and at times even adopt unethical
means to spend on shopping of advance technologies. But there are other consumers
who, despite having surplus money, do not go even for the regular purchases and avoid
use and purchase of advance technologies.

IV) Varies from region to region and country to country:

The consumer behavior varies across states, regions and countries. For example, the
behavior of the urban consumers is different from that of the rural consumers. A good
number of rural consumers are conservative in their buying behaviours.

The rich rural consumers may think twice to spend on luxuries despite having sufficient
funds, whereas the urban consumers may even take bank loans to buy luxury items such
as cars and household applicances. The consumer behavior may also varies across the
states, regions and countries. It may differ depending on the upbringing, lifestyles and
level of development.

V) Information on consumer behavior is important to the marketers:

Marketers need to have a good knowledge of the consumer behavior.They need to

study the various factors that influence the consumer behavior of their target customers.

The knowledge of consumer behavior enables them to take appropriate marketing

decisions in respect of the following factors:
35
  Product design
 Pricing of the product
 Promotion of the product
 Positioning
 Place of distribution

VI) Leads to purchase decision:

A positive consumer behavior leads to a purchase decision. A consumer may take the
decision of buying a product on the basis of different buying motives. The purchase
decisions leads to higher demand, and the sales of the marketers increase. Therefore,
marketers need to influence consumer behavior to increase their purchases.

VII) Varies from product to product:

Consumer behaviour is different for different products. They are some consumers
who may buy more quantity of certain items and very low or no quantity of other items.
For example, teenagers may spend heavily on products such as cell phones and branded
wears for snob appeal, but may not spend on general and academic reading. A middle
aged person may spend less on clothing, but may invest money in savings, insurance
schemes, pension schemes, and so on.

VIII) Improves standard of living:

The buying behaviour of the consumers may lead to higher standard of living. The
more a person buys the goods and services, the higher is the standard of living. But if a
person spends less on goods and services, despite having a good income, they deprives
themselves of higher standard of living.

IX) Reflects status:

36
 The consumer behaviour is not only influenced by the status of a consumer, but it also
reflects it. The consumerswho own luxery cars,watches and other items are considered
belonging to a higher status. The luxury items also give a sense of pride to the owners.

3.3 Changing Customer Behaviour In Insurance Buying

In insurance buying, most customers would probably describe their level of

understanding of insurance contracts in the above manner. Customers know generally
what a policy covers; they also know that there are several fine prints in insurance
contracts, which they do not know, or perhabs care to know at the time of buying and
they also seem to generally conclude that when it comes to making a claim under an
insurance policy, there could be several issues of which they are just unaware at the time
of buying the policy in the first place.

 Changing Expectations

A remarkable trend in the insurance industry in the last three years is the rapid change
in the knowledge level as well as expectations of the customer. A study conducted last
year by forte, a collaborative effort between FICCI and ING vysya insurance co. about
the consumer behavior in the pre and post liberalization days of the industry had revealed
stunning changes in consumer expectations. It looks as though the docile, uninformed,
insurance consumer has suddenly been transformed into an aggressive and highly
demanding species. While the fresh air of competition in every sector of the economy
brings in major changes in consumer expectations(witness the sea change in the attitude
of automobile buyers in India in the last five years), the insurance industry has witnessed
a few unique aspects,such as regulation- inspired efforts to educate insurance buyers, and
a vast change in the skills and capabilitiers of the intermediaries involved in distribution.
Motivating factors in respect of life insurance, potential buyers are driven to buying a

37
policy for one or more of three major reason: security of the money invested, saving for
one or more specific purposes, and the availability of tax benefit. Consumers are
increasingly known to place less reliance on the tax benefit factor, and stress more on the
security aspect and the end use objective. The challenge of the insurance companies is to
address the motivating factors imaginatively and come up with genuine solutions. Take
for example, the consumer’s objective of taking a policy to save money for higher
education of a child. This has been a driving force in the sale of new insurance contracts
in several other countries too, notably in Asia. A potential buyer primarily expects that
the saving should be a painless process and that the money saved should be obsolutely
safe. The challenge is to provide not only convenient payment options, but also
mechanisms that could offer some measure of protection and relief to the customer is he
is forced to disrupt a payment arrangement for unforeseen reasons. On the issue of the
consumers perception of security of the money invested, there are two important aspects.
One is how the featurs of the insurance contract are put across to the buyer (whether it is
a unit- linked policy or endowment oriented). The second is how to address more
effectively the question about the dependability of the new generation companies that
potential new insurance buyers raise during sales calls especially outside metros and in
small towns ( refered to in publicity jargon as buyers in the SEC B and C categories).
Both insurance companies and the regulator need to address this behavioural challenge
more actively.

3.4 Consumer’s Experience

There has been a vast change in the approach of the insurance agent from the pre-
liberalization days. While the agent in the past established informal contactswith
potential buyers and often dependend on referrals from friends and family members , the
new age companies insist on a professional , and often aggressive stance on the part of

38
the sales stuff. Customer expectations in this regard revolve around two key aspects;
first, whether the customer is getting truthful advice from the agent, or if he is pushing a
product that yields him the highest commission rate. Invariably , the customers today
expect the insurance agent ( and other intermediaries such as the banc insurance sales
stuff) to provide a ready comparison of competitors’ products and how the product the
agent is suggesting is superior to the others. How far is the need based analysis of
insurance requirement, that the new age sales stuff are trained to offer, found to be
relevant and useful to potential insurance buyers? The answer varies from the metro
cities and small towns. However outside metro cities, customers tend to take a clear view
that saving oriented policies are more needed. There is also marked reluctance to
disclose the true personal financial status and the corresponding insurance needs to
insurance salesperson. The second aspect of customers perception about the new
generation of insurance agents is the level of continuing commitment of the agent to
arrange post sale service. Potential insurance buyers are unsure that they would continue
to deal with the same agent who sold the policy throughout the term. They would tend to
place more reliance on the company’s general promises of service and commitment.This
is an important message for the insurance companies. As insurance customers
increasingly make arrangements to pay periodical premiums directly through the
electronic medium, or though automatic transfers from their bank accounts,thereby
passing the need for regular post sale service by the agents, customers would tend to
place more reliance on the direct standard of service from the company concerned.
Instances of customers requiring agents to arrange for loans against their policies, or
change nominations etc. are rare. Therefore companies need to gear themselves to
provide high service standards directly.

Premium Shopping is pricing or the premium rate for a policy, a deciding factor for
buying insurance? It is indeed so in a price sensitive market such as ours. In several
39
forums, customers have voiced the general feeling that as insurance products become
more complex, and they get bundled with several riders, it is becoming impossible to
make price comparisons between different companies. An increasingly larger segment of
customers now questions why the premium rate should be the same for a policy if bought
direct from the company over internet or through a channel considered simpler, such as
he banc assurance channel. There is logic in the insurance companies passing on the cost
saving to customers in such case. It is time the regulator seriously considered the
customer expectations of differential premium rates for the same policy bought through
different channels and allowed the practice. It should therefore be conceivable to offer
premium rebate to insurance buyers who consciously decide to approach the company
directly for buying a policy (after presumably taking the trouble of educating themselves
about the product features and other aspect), and choose to deal with the company
directly for future servicing needs.

 High Expectations

One aspect of customer service from new age insurance companies that a remains to
be tested widely is the claim payment record. While consumers seem to be satisfied that
the survival benefits under a life insurance policy would get paid rather promptly from
the tech-savvy new compamies, obviating the need for interlocation by the insurance
agent, insurance buyers are not yet convinced about hassle free payment in the event of
claim, whether under a life policy or a general insurance policy. This is especially so in
respect of rider benefits such as critical illness or hospitalization benefits.

The level of consumer skepticism on claim payment is markedly high in respect of non
life insurance products, such as householders package or Medicaid policies. There is
considerable work to be done to boos the level of confidence both by insurance
companies and the regulator. By the time a company completes the development of a
40
strategy and makes investment to pursue the strategy, the opportunity often ceases to
exist. It is therefore important that the new age insurance companies become kinetic
enterprises, which can take advantage of unpredictable customer demands and
unexpected market event immediately. This is vastly relevant for the Indian market
where the insurance consumers are rapidly coming of age.

CHAPTER 4
41
 RESEARCH METHODOLOGY
Research Methodology is considered as the nerve of the project. Without a proper
well organized research plan, it is impossible to complete the project and reach to
any conclusion. The project was based on the survey plan. The main objective of
survey was to collect appropriate data, which work as a base for drawing
conclusion and getting result. Therefore, research methodology is the way to
systematically solve the research problem. Research methodology not only talks of
the methods but also logic behind the methods used in the preference of the other
methods. Research Methodology is considered as the nerve of the project. Without
a proper well organized research plan, it is impossible to complete the project and
reach to any conclusion. The project was based on the survey plan. The main
objective of survey was to collect appropriate data, which work as a base for
drawing conclusion and getting result. Therefore, research methodology is the way
to systematically solve the research problem. Research methodology not only talks
of the methods but also logic behind the methods used in the preference of the
other methods.

4.1 Objective Of The Study

 To assess Overall Customer Satisfaction

 To identify key factors influencing satisfaction

 To examine customer experience across touchpoint

 To evaluate policy utilization and benefits perception

 To explore demographic variances in satisfaction

4.2 TYPES OF RESEARCH

42
 Basic Research: Basic research is mostly conducted to enhance knowledge.
It covers fundamental aspects of research. The main motivation of this
research is knowledge expansion. It is a non-commercial research and
doesn’t facilitate in creating or inventing anything.
 Applied Research: Applied research focuses on analyzing and solving real
life problems. This type of research refers to the study that helps solve
practical problems using scientific methods. This research plays an
important role in solving issues that impact the overall well-being of
humans.
 Qualitative Research : Qualitative research is a type of research that
explores and provides deeper insights into real world problems.Instead of
collecting numerical data points or intervene or introduce treatments just
like in quantative research

 Quantitative Research: Qualitative research is a structured way of

collecting data and analyzing it to draw conclusions. Unlike qualitative
research, this research method uses a computational statistical and similar
method to collect and analyze data. Quantitative data is all about numbers.

4.3 Data Collection Techniques

 PRIMARY DATA
 SECONDARY DATA
Primary Data:- Primary data is that kind of data which is collected by the
investigator himself for the purpose of the specific study. The data such
collected is original in character. The method used by me to collect primary
data was the questionnaire method. A set of questions were put together in
43
the form of a questionnaire. A detailed study on the actual working processes
of the company is also done through direct interaction with the employees
and by timely studing the happening at the company.

4.4 Questionnaire Design

As the questionnaire administered one, the survey is kept simple

 Dichotomous Questions
Which has only two answers “YES” or “NO”

 Multiple Choice Questions

Where respondent is offered more than two choice. This is done to know the
choice of the customers regarding different matters.

4.5 Sampling Technique

Since the information required was not of a very technical nature and also
looking at the scope of the project and the extent of the target segment, the
sampling technique employed was Convenience Sampling.

 Area Of Servey
The area of servey is Delhi and NCR regions.

 Sample Size
I have restricted the sample size is 100 respondents. This was done keeping
in mind the time constraints and the fact that I felt that this number would be
enough to serve the information needs required to show the trends.
44
4.6 Limitations Of The Study
 The study was done for a short period of time, which might not hold
true in a long run.
 The study is only limited to limited areas of Delhi and NCR region.
 The sample size is too small or if it does not accurately represent the
diver customer base of Niva Bupa health insurance.

45
 CHAPTER 5
DATA ANALYSIS AND INTERPRETATION

Q1. How satisfied are you with Niva Bupa health insurance services?

SATISFACTION NO. OF RESPONSES

LEVEL

Very Satisfied 36

Satisfied 27

Neutral 20

Dissatisfied 12
Very Dissatisfied 05

No. of Responses
Very Satisfied Satisfied Neutral
Dissatisfied Very Dissatisfied
5%

12%
36%

20%

27%

Interpretation:

From the Pie chart and table, it can be observed that customer are very satisfied

46
with service provided by niva bupa.
Q2. What is your experience with the claim process, considering ease of
submission and timely processing?

Ease of Submission NO. OF RESPONSES

Very Easy 45

Easy 37

Neutral 08

Difficult 07
Very Difficult 03

No. of Respnses
very easy easy neutral difficult very difficult
3%

7%
8%

45%

37%

Interpretation:

From the Pie chart and table, it can be observed that the claim process was very
easy, reflecting streamlined submission and timely processing, enhancing overall
satisfaction with Niva Bupa's service.
47
Q3. How would you rate the responsiveness and helpfulness of Niva Bupa's
customer service?

SCALING NO. OF RESPONSES

Very Responsive and 32

Helpful

Responsive and Helpful 37

Neutral 17

Unresponsive and Unhelpful 11

Very Unresponsive and Unhelpful 03

No. of Responses
Very Unresponsive and Unhelp-
ful
3%
Unresponsive and Unhelpful very responsive and helpful
11% 32%
neutral
17%

Responsive and Helpful

37%

Interpretation:

The majority of respondents have indicated that Niva Bupa's customer service is
perceived as responsive and helpful. This positive trend suggests that the customer
service team has been effective in addressing inquiries and providing assistance.
The emphasis on responsiveness and helpfulness aligns with a high level of
customer satisfaction in the realm of support services. This positive feedback is
indicative of a customer-centric approach and contributes positively to the overall

48
customer experience with Niva Bupa.
Q4. To what extent do you feel that your health insurance policy adequately
covers your medical needs?

SCALING NO. OF RESPONSES

Completely Adequate 34

Adequate 40

Neutral 18

Slightly Inadequate 06
Not Adequate at All 02

No of Response
Completely Adequate Adequate Neutral
Slightly Inadequate Not Adequate at All
2%
6%

18% 34%

40%

Interpretation:
From the Pie chart and table, it can be observed that Niva Bupa Health Insurance
policy sufficiently addresses customer medical needs and provide satisfactory
coverage.

49
Q5. Were you satisfied with the clarity and effectiveness of communication
regarding policy details and updates?

SATISFACTION NO. OF RESPONSES

LEVEL

Very Satisfied 52

Satisfied 30

Neutral 09

Dissatisfied 07
Very Dissatisfied 02

No. of Responses
Very Satisfied Satisfied Neutral Dissatisfied Very Dissatisfied
2%

7%

9%

52%

30%

Interpretation:
From the Pie chart and table, it can be observed that the majority of customers are
policy details and updates.

50
Q6. How convenient and straightforward did you find the policy renewal process?

SCALING NO. OF
RESPONSES

Very Convenient and 40

Straightforward

Somewhat Convenient and 33

Straightforward

Neutral 15

Somewhat Inconvenient and Complicated 07

Very Inconvenient and Complicated 05

No of Responses
Very Inconvenient and
Complicated
5%
Somewhat Inconvenient
and Complicated Very Convenient and
7% Straightforward
40%
Neutral
15%

Somewhat Convenient
and Straightforward
33%

Interpretation:
From the Pie chart and table, it can be observed that the majority of respondents

51
express high satisfaction, noting that they find the policy renewal process to be
very convenient and straightforward. This suggests a positive consensus regarding
the ease of renewing policies.

Q7. How satisfied were you with the resolution of any issues or concerns you
may have had during your interaction with Niva Bupa?

SATISFACTION NO. OF RESPONSES

LEVEL

Very Satisfied 45

Satisfied 35

Neutral 11

Dissatisfied 06
Very Dissatisfied 03

No of Responses
Very Satisfied Satisfied Neutral
Dissatisfied Very Dissatisfied
3%

6%

11%

45%

35%

Interpretation:

52
From the Pie chart and table, it can be observed that the majority of respondents
were very satisfied with the resolution of issues or concerns during their interaction
with Niva Bupa, indicating a positive experience.

Q8. How likely are you to recommend Niva Bupa health insurance to a friend or
family member?

SCALING NO. OF
RESPONSES

Very Likely 36

Likely 38

Neutral 18

Unlikely 06
Very Unlikely 02

No of Responses
Very Likely Likely Neutral Unlikely Very Unlikely
2%

6%

18% 36%

38%

Interpretation:

53
From the Pie chart and table, it can be observed that the most of the customers are
likely to recommend Niva Bupa health insurance to friends or family, reflecting a
positive experience and satisfaction with their services.

CHAPTER 6
FINDING OF THE STUDY

 The study revealed that a majority of Niva Bupa Health Insurance customers
expressed satisfaction with the services, highlighting positive experiences in
terms of claim processing and policy coverage.

 Findings suggest that effective communication channels positively impact

customer satisfaction, emphasizing the importance of clear and transparent
information regarding policy details and updates.

 Customers value the efficiency of claim processing, with timely settlements

being a significant factor contributing to overall satisfaction levels.

 The study found a growing preference for digital interactions, indicating that
an intuitive and user-friendly online platform contributes to a positive
customer experience.

 Swift and helpful customer service responses were identified as crucial

elements influencing satisfaction, highlighting the need for responsive and
knowledgeable support teams.

54
 Customers appreciate the flexibility to customize their insurance policies,
and the study found that a personalized approach to coverage options
positively impacts satisfaction.

 Satisfaction levels were higher among customers who perceived their

insurance policies as providing comprehensive coverage, suggesting that the
perceived value of the policy aligns with customer expectations.

 The findings indicate that a smooth and hassle-free policy renewal process
contributes significantly to overall customer satisfaction, fostering long-term
relationships with Niva Bupa Health Insurance.

55
 CHAPTER 7
CONCLUSION OF THE STUDY
In conclusion, the study on customer satisfaction and experience in Niva Bupa
Health Insurance reveals valuable insights into the factors influencing customer
perceptions. The findings underscore the significance of timely and transparent
communication, personalized service, and efficient claims processing in shaping
positive customer experiences. As Niva Bupa strives to enhance its services,
addressing these key areas can contribute to heightened customer satisfaction and
loyalty, ultimately fostering a stronger relationship between the company and its
policyholders. The study’s comprehensive analysis indicates that Niva Bupa
Health Insurance can significantly enhance customer satisfaction by focusing on
several key aspects. Firstly, effective communication, both in terms of clarity and
timeliness, emerged as a pivotal factor. Customers appreciate being well-informed
about their policies, coverage details, and any changes.
Moreover, the personalized approach to service was found to be crucial. Customers
value interactions that recognize their individual needs and preferences.
Implementing personalized assistance and tailored solutions can further elevate the
overall customer experience.
Additionally, the study highlights the importance of streamlining claims
processing. Swift and efficient handling of claims contributes to customer
satisfaction and confidence in the insurance provider. Improving processes to

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minimize delays and simplifying documentation requirements can significantly
impact the perceived quality of service.
By addressing these key areas, Niva Bupa Health Insurance can not only meet but
exceed customer expectations, fostering a positive customer experience that
enhances the company’s reputation and encourages long-term customer loyalty.
CHAPTER 8
RECOMMENDATIONS AND SUGGESTIONS

1. Implement regular updates and clear communication channels to keep

customers informed about their policies, claims, and any changes in services.

2. Simplify and expedite the claims process to minimize paperwork and

provide faster resolution, ensuring a smoother experience for customers.

3. Introduce personalized services based on individual customer needs and

preferences, tailoring offerings to enhance overall satisfaction.

4. Improve the accessibility of online platforms, making it user-friendly for

customers to manage policies, track claims, and access relevant information
effortlessly.

5. Establish proactive outreach programs to collect feedback, address concerns,

and understand customer needs, fostering a sense of care and engagement.

6. Provide comprehensive training for customer-facing staff to ensure they are

well-equipped to address inquiries, resolve issues, and deliver exceptional
service.
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7. Ensure transparency in pricing structures and policy details, avoiding hidden
charges and providing clarity on the value customers receive for their
investment.

8. Introduce innovative insurance products that cater to evolving customer

needs and offer additional benefits beyond traditional coverage.

9. Develop educational materials to help customers better understand their

policies, terms, and benefits, empowering them to make informed decisions.

10.Establish a continuous feedback loop by regularly seeking input from

customers, analyzing trends, and using insights to adapt and improve
services over time.

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 BIBLIOGRAPHY

WEBSITES

 https://www.nivabupa.com
 https://en.m.wikipedia.org
 https://www.insurancedekho.com
 https://www.eindiainsurance.com

NEWSPAPER
 The Times of India
 Hindustan Times
 Navbharat Times
 The Economic Times

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 ANNEXURE

1. How satisfied are you with the overall service provided by Niva Bupa
Health Insurance?
a) Very Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
2. Rate the clarity of information provided about your health insurance policy.
a) Very Clear
b) Clear
c) Somewhat Clear
d) Not Clear
3. How would you rate the efficiency of the claims process with Niva Bupa?
a) Very Efficient
b) Efficient
c) Inefficient
d) Very Inefficient
4. Were your queries and concerns addressed promptly by Niva Bupa customer
support?
a) Always
b) Most of the time
c) Occasionally
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 d) Rarely
5. How satisfied are you with the coverage and benefits offered by your health
insurance plan?
a) Very Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
6. Rate the ease of accessing information about your health insurance policy
online.
a) Very Easy
b) Easy
c) Somewhat Easy
d) Difficult
7. How likely are you to recommend Niva Bupa Health Insurance to friends or
family?
a) Very Likely
b) Likely
c) Unlikely
d) Very Unlikely
8. Were you provided with sufficient guidance during the enrollment process?
a) Yes, Completely
b) Yes, Partially
c) No, Insufficient
d) No Guidance Provided
9. Rate the transparency of communication regarding policy updates and changes.
a) Very Transparent
b) Transparent
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 c) Somewhat Transparent
d) Not Transparent
10. How satisfied are you with the network of healthcare providers associated with
Niva Bupa?
a) Very Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
11. Rate the affordability of your health insurance premium with Niva Bupa.
a) Very Affordable
b) Affordable
c) Somewhat Affordable
d) Not Affordable
12. Were you informed about additional benefits or discounts available to you as a
policyholder?
a) Yes, Regularly
b) Yes, Occasionally
c) No Information Provided
d) Not Applicable
13. How would you rate the responsiveness of Niva Bupa in handling emergencies
or urgent situations?
a) Very Responsive
b) Responsive
c) Slow to Respond
d) Very Slow to Respond
14. Rate the availability of resources (online tools, guides) to help you better
understand your health insurance coverage.
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a)Abundant
b) Adequate
c) Limited
d) Insufficient
15. Overall, how satisfied are you with your experience as a Niva Bupa Health
Insurance customer?
a) Very Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied

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