Author(s): Jolly Masih, Arup Majumdar, Sourav Kumar Mondal, Kushal Goyal and Samarth Badar
Purpose – This study aims to provide a comprehensive analysis of the global health insurance market, focusing on consumer behaviour and trends. The study also enhances understanding of highs and lows of consumer satisfaction levels during evolution of health insurance landscape globally. Study undertakes a case study of India to report which areas lag in health insurance awareness and the underlying reasons. Design/methodology- This research adopts a mixed-methods approach, integrating qualitative and quantitative methodologies. The systematic literature review (SLR) spans 60 papers from 1998 to 2023, utilizing a seven-point Likert scale to assess the relevance of ten key variables from Google Scholar database. Additionally, the study introduces the Trend Impressions Model, which maps the movement of keywords across four zones to capture their prevalence and importance over time. The trend analysis examines Google search data from 2004 to 2024 from Google Trends, normalized on a scale from 0 to 100 and presented through a heat map to show regional variations. Findings – Systematic Literature Review (SLR) highlights ten critical keywords and their relative contribution: “medical coverage”, “insurance coverage”, “payout ratio”, “frauds”, “maturity benefits”, “public awareness”, “government initiatives”, “accessibility”, “ease of understanding” and “government vs. private policies”. These findings elucidate the core components of health insurance and underscore challenges and opportunities for system enhancement. Trend Impressions Model categorizes keywords into four zones based on their relevance and frequency: Zone of Popping In, Zone of Excellence, Zone of Popping Out and Zone of All Time Favourite. This model provides insights into the evolving trends within the health insurance sector, highlighting which aspects are gaining traction and which are declining in importance. The Google Trends analysis uncovers regional disparities in the popularity of health insurance terms across India from 2004 to 2024. Practical implications – Understanding consumer satisfaction levels and preferences is crucial for insurers to design targeted strategies. Incorporating these insights enables stakeholders in the health insurance industry to make informed decisions, fostering a more equitable and responsive healthcare system that caters to the diverse needs of consumers.