Prospective Policy Holders on Health Insurance: An Assessment Towards Marketing Plan Proposal

Abstract

In the health insurance industry, there is a discernible trend towards the incorporation of digital tools and platforms into marketing strategies. Competition and saturation are at an all-time high in the health insurance industry, making it difficult for businesses to differentiate themselves and acquire new policyholders therefore, more customer-centric and inventive marketing strategies are required (Usha, 2023). This study assessed the health insurance as on the point of view of the policy holders gearing  towards marketing plan proposal. Issues encountered by the clients were also considered. Prospective policyholders strongly agree on the importance of evaluating premium increases, comparing costs across policies, and considering discounts. Convenience factors like telemedicine and user-friendly interfaces are valued. Across the five main criteria—premium, benefits, convenience, security, and claims—there are no appreciable variations in the assessments of health insurance by potential policyholders. Hence, the null hypothesis was accepted as individual preferences or particular policy features are generally seen by the policy holders same with the features of health insurance. According to the survey, prospective policyholders have different issues with health insurance wherein universal consensus on the found problems is evident.  In this regard, main strategies formulated as strategic marketing plan for health insurance companies which are is necessary.