Mediclaim Insurance: - M.ANUSHA (10AD03) - PREETHI (10AD22) - Poorna Chandra (10ad40)

MEDICLAIM INSURANCE
- M.ANUSHA(10AD03)
- PREETHI(10AD22)
- POORNA CHANDRA(10AD40)
MEDICLAIM INSURANCE
• a protective shield against risks and uncertainties future ,Since 1818.

• Proposals are considered under IRDA , Insurance companies , Govt
agencies.
• By 1956 there were 256 insurance companies.
• In 2009-2010 the premium figure estimated -8100 crores.
• Estimated Premium figure-(2015) is 35000 crores and (2025) is 400000
crores.
• In 2009-10 Private insurance players have the market share of 40% in
health insurance.(increased from 12 %in 2003-04)
• The market share of public sector companies has come down to 60%.
• Only the 3% of mediclaim insurance have been launched in India.97%
remains unaware.
MARKETING MEDICLAIM INSURANCE
TPA- Third Party Administrator.

• a middlemen between Insurer and the Customer .
• Introduced by the IRDA for the benefit of both the insured
and the insurer.
• Benefits:
The insured is benefited by quicker & better health service.
The insurers are benefited by reduction in their
administrative costs, fraudulent claims and
ultimately bringing down the claim ratios.
• To be a TPA , the candidate has to pass through the IRDA
exams and can work for any insurance company.
• The private insurance can also recruit TPAs ,applied online
SERVICE BY TPAs
• Networking with hospitals.

• Arranging for hospitalization and claim processing and
settlement
• Maintain database of policyholders
• Issue of identity card to all policyholders
• Provide ambulance service
• Provide information to policyholders about hospitals.
• Check various investigations
• Provide Cashless service
• Process claims
ICICI LOMBARD
• India's leading private sector general insurance company.
• 74:26 joint venture between ICICI Bank Limited and Lombard Canada Inc.
• Well known for our innovative products, marketing strategies, technology
focus and excellent customer services.
• Plans to increase its workstations from 400 to 700 by next year in a
more efficient and timely manner.
• HEALTH CLAIM PLANS:
Family floater insurance
Health advantage plus
Personal accidents
Critical care
BENEFITS
• Cashless claims facility at over 4,000+ network hospitals across India

• No sub-limits on room rent, doctor fees, and hospital charges or for any
disease.
• No co-payments for any disease or any hospitalization expenses
• Medical expenses incurred as an inpatient during hospitalization for more
than 24 hours, including room charges, doctor/ surgeon's fee, medicines
bills, etc
• Day Care expenses incurred on named advanced technological surgeries
and procedures requiring less than 24 hours of hospitalization.
• Pre-existing diseases can be covered after four continuous years of
coverage with the Company
COVERING AREA
• Medical expenses incurred as an inpatient during

hospitalization for more than 24 hours, including room
charges, doctor/ surgeon's fee, medicines bills, etc
• Medical expenses incurred 30 days prior and 60 days post
hospitalization
• Day Care expenses incurred on named advanced
technological surgeries and procedures requiring less than 24
hours of hospitalization.
• Pre-existing diseases can be covered after four continuous
years of coverage with the Company.
SWOT ANALYSIS
STRENGTHS:
• Pioneer in introducing innovative concepts in the Indian
health Insurance sector
• Robust online system in place for buying and renewing
policies.
• Offers various plans
WEAKNESS:
• Charge a high premium amount compared to other players in
the market
• Poor customer care service
• No proper service
OPPURTUNITIES
• Target youth
• Provide NRI Services
• Use a multi channel approach
THREATS:
• Insecure system of buying insurance online
• Major competition from LIC
• Excessive use of telesales.

LIC
• largest life insurance company and largest
investor.
• owned by the Government of India.
• operations with 5 zonal offices, 33 divisional offices
and 212 branch offices.
• funds close to 24.6% of the Indian Government's
expenses.
• founded in 1956 and Headquartered in Mumbai
• 8 zonal and 101 divisional offices.
SWOT
STRENGTH WEAKNESSS
• a Pan India presence. slow decision making process
• developed distribution network. Large scale corruption
• huge consumer base internal problems
• a large product portfolio
• the government guarantee
OPPURTUNITIES THREATS
• middle income consumer market much internal discord
• More demand Entry of new private players
• large real estate portfolio.
PORTERS FIVE FORCE MODEL
THREATS OF NEW ENTRANTS :
• Entry barriers is moderate
• Difficult to introduce new brand
• The acceptability of new brand is also very low
• Economies of scale is difficult
• Special permission is required from the government
POWER OF SUPPLIERS:
• Policy designer tend to have less influence to bargain over
premium
• Insurance is tax exempted
CONTD…
POWER OF BUYERS :
• Market is highly segmented
• very return oriented and switches easily
• High switching cost
• Exercise bargaining power over premium
AVAILABILITY OF SUBSTITUTES:
• Investment in government securities
Money market investment
Capital market investment
COMPETITIVE RIVALRY
• There is cut thought competitions
• Deal in identical policies as service levels offered are similar
• Less chance of exit.
PEST
POLITICAL ECONOMIC
• Increased service tax Increase in Gross Domestic Savings
5% discount on corporate premium
Hike in FDI limit
Favourable regulation for rural insurance
SOCIAL TECHNOLOGICAL
• Low insurance coverage Automation of processes
Rise in elderly population Increase in CRM
Changing Indian perception Internet driven information era
Increase in lifestyle diseases Business process monitoring
STRATEGIES
• Intense , systematic & well focused public
relation
• upped its ad spend to tackle competition.
• launched its SATELLITE SAMPARK offices.
• established state of art machinery.
STAR HEALTH INSURANCE
• STAR HEALTH AND ALLIED INSURANCE, is a
specialist in Health Insurance and provides
quality service at the best rates.
• Country's first stand alone health insurance
company in India
• There is no Third Party Administrator involved
in claims settlement
STRENGTHS
• cashless hospitalization facility
4800+hospitals
Affordable premium
Income tax benefits
Instant policy generations

DISTRIBUTION CHANNEL
Banks
I
Insurance agents
Brokers and consultants

Online websites

Star health magazine
Market Services
• Medi classic
• Diabetes safe
• Family health optima
• Senior citizen Red carpet
• Super surplus
• Star Netplus
• Star healthgain
• Star criticareplus
New policies
• Star unique health
• Star wedding gift
• Health plus life combi policies
(Merger with shriram life insurance)
star shri individual care
star shri family care
Market plan
• Segmenting the market into 3 classes
class A(Max 4000 Rs/day)
class B(Max 3000 Rs/day)
class c(Max 1000 Rs/day)
Rural Micro Health Insurance
Corporate solutions(employee health insurance
portfolio)
Student insurance plans
NEW PRODUCT DEVELOPMENT
• Prescription coverage
• Psychiatric care
• Preventive coverage
• Nurse hot lines supported by insurers

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MEDICLAIM INSURANCE

• a protective shield against risks and uncertainties future ,Since 1818.

TPA- Third Party Administrator.

• Networking with hospitals.

• Cashless claims facility at over 4,000+ network hospitals across India

• Medical expenses incurred as an inpatient during

Brokers and consultants

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