Perception of Customers Towards Health Insurance Policies During COVID-19 Pandemic in The State of Punjab

ABSTRACT

The COVID-19 pandemic has created an unprecedented demand for health insurance companies to understand the perception of the customers which helps them to provide policies and formulate the strategies to make a satisfied customer, spread more awareness, stress on need based innovative products and affordable price. The severity of the pandemic has used the customers perception about health as more individuals felt the need to have financial backup insurance to cover unexpected heavy health expenses. The present study examined the perception of the customers towards health insurance during COVID-19 in the state of Punjab, India. Seven-point Likert scale was employed to collect data from the respondents selected on the basis of purposive sampling techniques. The three independent variables are financial security, affordability, and serviceability, and two dependent variables were risk exposure and customer trust were considered for the study. The relationship between the variables were analysed with structural equation model and different statistical tools. The results were achieved with SPSS 20 and Amos 2.0.

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