Studies from Amity University Noida Have Provided New Data on Insurance (Impact of claim settlement procedure of health insurance companies on customer satisfaction during the pandemic: A case of third-party administrators): Insurance

2022 NOV 30 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on insurance have been published. According to news originating from Amity University Noida by NewsRx editors, the research stated, “The claim settlement process is one of the most critical aspects of health insurance. Many policyholder grievances often surface during claim settlement, which will likely shape the insurer’s reputation.”

The news editors obtained a quote from the research from Amity University Noida: “Hence, this study aims to evaluate the relationships between hypothesized factors concerning the third-party administrator’s claim settlement process as perceived by policyholders. The paper used the data of policyholders from Delhi/NCR, India, who have availed the cashless claims in the last three years. In the process, a total of 790 questionnaires were sought to be. The methodology used was the extractive factor analysis comprising the KMO test, reliability assessment with Cronbach’s Alpha, and correlation assessment. The study attempted to evaluate all the contributing factors that shape the third-party administrator’s behavior during the claim settlement. Therefore, different factors were identified (themes A, B, C, and D).”

According to the news editors, the research concluded: “The study reported a significant relationship between insurance company perceptions (0.162), network hospital perceptions (0.182), product design (0.180), insurance agent (0.332), communications (0.114), disclosure (0.122), internal practices (0.143), and TPA claim settlement prospects across the Indian perspective. The contextual impacts on individual and group decision-making must be monitored and accommodated across effective public policy management concerning settlement of health insurance claims. The study findings could help insurers create business models leading to better customer satisfaction and congruence between agents, policyholders, TPAs, and health insurance companies.”

For more information on this research see: Impact of claim settlement procedure of health insurance companies on customer satisfaction during the pandemic: A case of third-party administrators. Insurance Markets and Companies, 2022,13(1). (Insurance Markets and Companies - https://businessperspectives.org/journals/insurance-markets-and-companies?cate). The publisher for Insurance Markets and Companies is LLC CPC Business Perspectives.

A free version of this journal article is available at https://doi.org/10.21511/ins.13(1).2022.06.

Our news journalists report that additional information may be obtained by contacting Sunil Kadyan, Assistant Professor, Faculty of Management, Amity School of Insurance Banking and Actuarial Science, Amity University Noida. Additional authors for this research include Narinder Bhasin, Vikas Madhukar.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Sunil Kadyan (http://orcid.org/0000-0003-4445-5536), Narinder Bhasin (http://orcid.org/0000-0001-7167-8730), Vikas Madhukar (http://orcid.org/0000-0002-3796-3439).

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