scholarly journals Behaviour of the Customers of an Insurance Company

2020 ◽  
Vol 6 (12) ◽  
pp. 336-341
Author(s):  
Dr. ML Sharma C Narinder Kaur and Mayank Singhal
Keyword(s):  
Health Insurance ◽  
Data Science ◽  
Consumer Behaviour ◽  
Real Life ◽  
Research Paper ◽  
Insurance Company ◽  
Health Issues ◽  
Time Data ◽  
Insurance Sector ◽  
Science Models

In today’s world as health issues among people increases, people become more aware for the health insurance. It’s a positive thing for the health companies but as the no. of customers increases, it is come into light that people are not punctual for paying the premium of the policy. This paper helps the policy companies to highlight and point out the defaulters who haven’t paid their premium. Mostly people forget about it, and some of them not paying the premium on time. In this research paper, I tried to understand the consumer behaviour in Insurance sector. The main objective of this paper to identify customers behaviour of paying the policy premiums and will they pay their next premium on time or not. Even will they pay their premium or not irrespective of time. Data was collected by various sites and some previous years data of some policy companies. Frequencies, Tabulation and some Data Science models have been used for the analysis. The objective of this project is to summarize is to make a predicting algorithm that can be used in real life applications to derive meaningful and accurate prediction based on the various aspects of data that is accessed.

scholarly journals The Evaluation of the Performance of Eastland Insurance Company Limited a Study of Bangladesh

2015 ◽  
Vol 1 (2) ◽  
pp. 29-43 ◽  
Author(s):  
Bijoy Chandra Das ◽  
Soma Rani Sutradhar
Keyword(s):  
Theoretical Analysis ◽  
Insurance Industry ◽  
Real Life ◽  
Legal Framework ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Sector ◽  
Company Limited ◽  
And Performance

This research is conducted on Eastland Insurance Company Limited. It is accomplished on the “The Evaluation of the policies and performance of Eastland Insurance Company Limited”. This study also includes the information on the overview of Eastland Insurance Company Limited, theoretical analysis of insurance and legal framework of insurance industry Bangladesh on. This research is prepared primarily to have clear and real life ideas about the position of Eastland Insurance Company in insurance sector of Bangladesh. The research focuses on the major challenges of insurance industry in Bangladesh that obstruct smooth development of Bangladesh. This study conveys the message that if the insurance companies are operated very smoothly, the insurance sector will flourish very fast way.

scholarly journals A Study on Policyholders’ Satisfaction of Health Insurance with Special Reference to Ernakulam District, Kerala

2018 ◽  
Vol 7 (3.6) ◽  
pp. 160
Author(s):  
Arun Vijay ◽  
V Krishnaveni
Keyword(s):  
Health Insurance ◽  
Customer Satisfaction ◽  
Coming Out ◽  
Healthcare Providers ◽  
Third Party ◽  
Insurance Company ◽  
Insurance Sector ◽  
Innovative Products ◽  
Insurance Business ◽  
Insurance Mechanism

Customer satisfaction plays a pivotal role in insurance business, especially health insurance business segment. It is not only indicative of customer loyalty but also helpful in identifying the needs of the customer. Unlike any other forms of insurance health insurance is most complex. Apart from the insurer and the insured, there are various components involved in health insurance mechanism such as healthcare providers like hospitals, Third Party Administrators, etc. So, customer satisfaction has a huge role in health insurance mechanism. It is important to retain the existing customer rather than attracting a new customer in the health insurance business segment, since the marketing cost and efforts required in retaining the existing customer will be less. Since private sector companies are coming out with innovative products in health insurance sector, public sector companies are facing a stiff competition. The study focuses on the customer satisfaction level of health insurance policyholders in Ernakulam district in Kerala. Since health insurance policies are based on yearly renewal basis, customer satisfaction has a lead role to play in determining the renewal of policies with the existing insurance company.  

Ambulatory Assessment

2009 ◽  
Vol 14 (2) ◽  
pp. 109-119 ◽  
Author(s):  
Ulrich W. Ebner-Priemer ◽  
Timothy J. Trull
Keyword(s):  
Real Time ◽  
Clinical Psychology ◽  
Real Life ◽  
Ambulatory Assessment ◽  
Computer Assisted ◽  
Affective Valence ◽  
Time Data ◽  
Physiological Processes ◽  
Context Specific ◽  
Questionnaire Studies

Convergent experimental data, autobiographical studies, and investigations on daily life have all demonstrated that gathering information retrospectively is a highly dubious methodology. Retrospection is subject to multiple systematic distortions (i.e., affective valence effect, mood congruent memory effect, duration neglect; peak end rule) as it is based on (often biased) storage and recollection of memories of the original experience or the behavior that are of interest. The method of choice to circumvent these biases is the use of electronic diaries to collect self-reported symptoms, behaviors, or physiological processes in real time. Different terms have been used for this kind of methodology: ambulatory assessment, ecological momentary assessment, experience sampling method, and real-time data capture. Even though the terms differ, they have in common the use of computer-assisted methodology to assess self-reported symptoms, behaviors, or physiological processes, while the participant undergoes normal daily activities. In this review we discuss the main features and advantages of ambulatory assessment regarding clinical psychology and psychiatry: (a) the use of realtime assessment to circumvent biased recollection, (b) assessment in real life to enhance generalizability, (c) repeated assessment to investigate within person processes, (d) multimodal assessment, including psychological, physiological and behavioral data, (e) the opportunity to assess and investigate context-specific relationships, and (f) the possibility of giving feedback in real time. Using prototypic examples from the literature of clinical psychology and psychiatry, we demonstrate that ambulatory assessment can answer specific research questions better than laboratory or questionnaire studies.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

scholarly journals Improving Stress Management and Sleep Hygiene in Intelligent Homes

Sensors ◽  
2021 ◽  
Vol 21 (7) ◽  
pp. 2398
Author(s):  
Asterios Leonidis ◽  
Maria Korozi ◽  
Eirini Sykianaki ◽  
Eleni Tsolakou ◽  
Vasilios Kouroumalis ◽  
...  
Keyword(s):  
Sleep Disturbances ◽  
Contextual Information ◽  
High Stress ◽  
Sleep Hygiene ◽  
Poor Sleep ◽  
Health Issues ◽  
Time Data ◽  
Intelligent Home ◽  
And Control

High stress levels and sleep deprivation may cause several mental or physical health issues, such as depression, impaired memory, decreased motivation, obesity, etc. The COVID-19 pandemic has produced unprecedented changes in our lives, generating significant stress, and worries about health, social isolation, employment, and finances. To this end, nowadays more than ever, it is crucial to deliver solutions that can help people to manage and control their stress, as well as to reduce sleep disturbances, so as to improve their health and overall quality of life. Technology, and in particular Ambient Intelligence Environments, can help towards that direction, when considering that they are able to understand the needs of their users, identify their behavior, learn their preferences, and act and react in their interest. This work presents two systems that have been designed and developed in the context of an Intelligent Home, namely CaLmi and HypnOS, which aim to assist users that struggle with stress and poor sleep quality, respectively. Both of the systems rely on real-time data collected by wearable devices, as well as contextual information retrieved from the ambient facilities of the Intelligent Home, so as to offer appropriate pervasive relaxation programs (CaLmi) or provide personalized insights regarding sleep hygiene (HypnOS) to the residents. This article will describe the design process that was followed, the functionality of both systems, the results of the user studies that were conducted for the evaluation of their end-user applications, and a discussion about future plans.

A clinical update on managed care implications for Australian psychiatric practice

2021 ◽  
pp. 103985622110300
Author(s):  
Jeffrey CL Looi ◽  
Stephen R Kisely ◽  
Tarun Bastiampillai ◽  
William Pring ◽  
Stephen Allison
Keyword(s):  
Health Insurance ◽  
Managed Care ◽  
Private Health Insurance ◽  
Psychiatric Treatment ◽  
Patient Choice ◽  
Insurance Sector ◽  
Cost Cutting ◽  
Appropriate Treatment ◽  
The Us ◽  
Limit Access

Objective: To provide a clinical update on private health insurance in Australia and outline developments in US-style managed care that are likely to affect psychiatric and other specialist healthcare. We explain aspects of the US health system, which has resulted in a powerful and profitable private health insurance sector, and one of the most expensive and inefficient health systems in the world, with limited patient choice in psychiatric treatment. Conclusions: Australian psychiatrists should be aware of changes to private health insurance that emphasise aspects of managed care such as selective contracting, cost-cutting or capitation of services. These approaches may limit access to private hospital care and diminish the autonomy of patients and practitioners in choosing the most appropriate treatment. Australian patients, carers and practitioners need to be informed about the potential impact of private managed care on patient-centred evidence-based treatment.

Risk assessment for health insurance using equation modeling and machine learning

2021 ◽  
Vol 25 (2) ◽  
pp. 201-225
Author(s):  
Amrik Singh ◽  
K.R. Ramkumar
Keyword(s):  
Machine Learning ◽  
Health Insurance ◽  
Risk Analysis ◽  
Real Life ◽  
Equation Model ◽  
Least Square ◽  
Parameter Analysis ◽  
Risk Indicators ◽  
Equation Modeling ◽  
Pairwise Correlation

Due to the advancement of medical sensor technologies new vectors can be added to the health insurance packages. Such medical sensors can help the health as well as the insurance sector to construct mathematical risk equation models with parameters that can map the real-life risk conditions. In this paper parameter analysis in terms of medical relevancy as well in terms of correlation has been done. Considering it as ‘inverse problem’ the mathematical relationship has been found and are tested against the ground truth between the risk indicators. The pairwise correlation analysis gives a stable mathematical equation model can be used for health risk analysis. The equation gives coefficient values from which classification regarding health insurance risk can be derived and quantified. The Logistic Regression equation model gives the maximum accuracy (86.32%) among the Ridge Bayesian and Ordinary Least Square algorithms. Machine learning algorithm based risk analysis approach was formulated and the series of experiments show that K-Nearest Neighbor classifier has the highest accuracy of 93.21% to do risk classification.

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