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The Insurance Actof 1999 requiredthat all companiesselling insurancemust be for-profitand, as a result,except for exemptedorganizations, thereare no non-for-profitcompanies that arelicensed, with oneexception: in theprivate sector, theCHNHBAAssociation...undertakings owned wholly or mainlyby the State Government; or toproperties belonging to any semi-Government bodies; or any board orbody corporate established by theState Government under any statute;or any industrial/commercialundertaking in which the StateGovernment has substantial financialinterest, whether as shareholder,lender or guarantor. To date, thereare twenty-eight exempted entitiesunderwriting insurance, specificallyin the area of State Governmentproperties.The Insurance Act of 1999 requiredthat all companies selling insurancemust be for-profit and, as a result,except for exempted organizations,there are no non-for-profit companiesthat are licensed, with one exception:in the private sector, the CHNHBAAssociation (formerly known as TheCalcutta Hospital & Nursing HomeBenefits Association Limited), whichhas been operating since 1948, wasgrandfathered into the Act andallowed to keep operating as a mutualinsurance company.In addition to insurance companies,businesses are allowed to operatetheir own health plans withoutregulation and many small and somelarge companies do so in spite of taxincentives to do otherwise.Interestingly, some importantexamples of expanded coverage flowfrom the exempted, mutual and selfinsuredcompanies.The absence of stand-alone, for-profitinsurance companies is notable. Manyreasons have been given for this;including excessive capitalrequirements and unfair competitionby existing companies that can crosssubsidize their heath business.However, recently the Star Healthand Allied Insurance Co. became thecountry’s first stand-alone healthinsurance company when it launchedits operations in May, 2006. TheChennai-based health insurer wasfinanced largely by a consortium ofIndian promoters with a 10 per centequity stake held by the Dubai-basedOman Insurance Company. In theabsence of a provision in theInsurance Act, 1938, for registrationof stand-alone health or anyspecialized insurer, the company hassought a non-life license andundertaken to write only three linesof business, i.e., health, accident andtravel insurance, to be marketed onan individual and group basis.CURRENT SCENARIOIn mid 80’s most of the hospitals inIndia were Government owned andtreatment was free of cost. With theadvent of Private Medical Care theneed for Health Insurance was feltand various Insurance Companies(New India Assurance, NationalInsurance Company, OrientalInsurance & United InsuranceCompany) introduced MediclaimInsurance as a product.According to recent news reportHealth insurance continues to be thefastest growing segment with annualgrowth rate of 55%. Health Premiumhas risen to Rs. 3300 crores in 2006-2007. As per the recent reports fromvarious agencies the Health sectorhas the potential to become a Rs.35000 crore premium by 2010.[ 78 ] Rai Management Journal
On August 15, 2007, the PrimeMinister has announced Rs 2000Crores for Health Insurance for poorcitizens. We foresee that this amountwill be partly in form of subsidytherefore during calendar year 2008we can expect Health Insurancepremium to touch figure in the rangeof Rs 10,000 Crores.In 2001 with entry of various privateInsurance companies now thecustomers have choice of buying thisinsurance from 16 insurancecompanies.Table-2: Gross Direct Premium Income in IndiaCompanyTotal (Rs. Crores)Market Share (in per cent)2007-2008 2008-2009 2007-2008 2008-2009National 4007.23 4279.90 14.40 14.10New India 5276.92 5508.83 18.97 18.15Oriental 3808.14 3964.25 13.69 13.06United 3739.56 4277.77 13.44 14.09Sub-Total 16831.85 18030.75 60.49 59.41Royal Sundaram 694.41 803.36 2.50 2.65Reliance 1946.42 1914.88 7.00 6.31Iffco-Tokio 1128.15 1374.06 4.05 4.53Tata AIG 782.64 823.92 2.81 2.71ICICI Lombard 3307.12 3402.04 11.89 11.21Bajaj Allianz 2379.92 2619.29 8.55 8.63Cholamandalam 522.34 685.44 1.88 2.26HDFC Ergo 220.60 339.21 0.79 1.12Future Generali 9.81 186.49 0.04 0.61Universal Sompo 0.48 30.14 0.00 0.10Shriram - 113.76 - 0.37Bharti AXA - 28.50 - 0.09Raheja QBE - - - -Sub-Total 10991.89 12321.09 39.51 40.59Grand Total 27823.74 30351.84 100.00 100.00<strong>No</strong>te: ‘-‘ indicates not in operationSource: IRDADecember 2010 Vol. 7, Issue 2[ 79 ]
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RaiManagementJournalAn Initiative o
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From the Editor’s DeskIt gives me
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Training Delivery and Methodology i
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The work force ofan organizationbec
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Choice of trainingand delivery meth
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Research studies ofmemory following
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Table -3: Perception of employees r
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Reference• Bhatia, S.K (1989).
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celebrity. Keeping these two things
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Figure IIFigure IIIDecember 2010 Vo
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• The Pepsi Campaign after theInd
Page 29 and 30: Table showing PERCENTAGE OF FAMILIA
Page 31 and 32: NAMETable showing PERCENTAGE OF Q-S
Page 33 and 34: and Irfan Pathan have beenranked at
Page 35 and 36: REFERENCESBOOKS -• Cloe, E. Kenne
Page 37 and 38: sations moving forward?In order to
Page 39 and 40: When studying the essentials of ano
Page 41 and 42: The effectiveness of the currentmot
Page 43 and 44: Fig.3: Ranking of Motivational Fact
Page 46 and 47: It seems clear thatIndian organisat
Page 48 and 49: • Kumar, N. (2001) Soft Ware Indu
Page 51 and 52: table 1. On an average, restaurants
Page 53 and 54: is also a major factor which effect
Page 55 and 56: careful analysis of the market ands
Page 57 and 58: Table 5: Size of the restaurants in
Page 59 and 60: Table 12: Strategy for promoting re
Page 62 and 63: ...there will be atextile boom inIn
Page 64 and 65: apparel industry, be it export ordo
Page 67 and 68: It is clear from table 5 that solep
Page 69 and 70: Table 8: Ranking of various problem
Page 71 and 72: It is evident from table 10 that th
Page 73 and 74: Table 12 shows that the respondents
Page 75 and 76: to more than 100 countries worldwid
Page 77 and 78: An Empirical Study on Indian Health
Page 79: Table-1: Gross Premium from Busines
Page 83 and 84: data collected from the respondents
Page 85 and 86: Profile, purpose and investingpract
Page 87 and 88: The Percentage Rank Analysis isappl
Page 89 and 90: Based on the Average PercentageAnal
Page 91 and 92: OBJECTIVE-3:To study the factors th
Page 93 and 94: FUTURE CHANGEEXPECTEDAt present whe
Page 95 and 96: Random walks in stock market prices
Page 97 and 98: eported forsome indices.Kok and Lee
Page 99 and 100: SAMPLEFrom the list of Oil and Gas
Page 101 and 102: • Barnes, P. (1986) Thin trading
Page 103 and 104: Thus, this paper has incorporateddi
Page 105 and 106: hypotheses of the information conte
Page 107 and 108: The present study addresses itsobje
Page 109 and 110: Deviations are similarly compared i
Page 111 and 112: The remaining banks did not show an
Page 113 and 114: at this time the Telecom sector had
Page 115 and 116: constant dividend every year on the
Page 118 and 119: Organized retail canbe defined as a
Page 120 and 121: In the midst of the unorganised ret
Page 122 and 123: convenience are some of majorattrib
Page 124 and 125: STATISTICAL ANALYSESThe 475 usable
Page 126 and 127: The Table 4 gives the 6 extracted f
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• Mulhern, F., and Leone, R., 199
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carefully/exactly identified group
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interaction effects. Variations in
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eduction, indicating that the decli
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Rs.10000 to Rs.20000 prefer maligai
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Table 6: Reason for purchasing at a
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Table 9: Monthly income and frequen
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Once “time spent” by the users
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Out of 200 respondents 111responden
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etail stores are facing.VII. PREFER
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From table 22 it can be inferred th
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Role of Relationship in Pharmaceuti
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Wholesaler, animportantmiddleman fo
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... a medicalrepresentative needsto
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ole in selling the products. And74(
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On the Basis ofQualificationOut of
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Figure 7Figure 8[ 160 ] Rai Managem
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Empirical Study On PerformanceMeasu
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these non- productive assets wasalm
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Tools for Analysis:First of all the
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... the commonstrength of theplasti
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adversely. Thus the common problems
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• Nimbalkar .B. Chairman & Managi
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Customersatisfaction and theservice
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The tourismindustry of Indiahas exp
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The hotel industryof India is one o
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Reichheld and sche(2000) embracedth
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Customersatisfaction is verycrucial
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2010 and 2020 respectively whichcal
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• Zineldin, m. (1999), ``explorin
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RNI NO.: DELENG/2004/12383Printed a
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