IDEAS home Printed from https://ideas.repec.org/a/sae/globus/v16y2015i6p997-1011.html
   My bibliography  Save this article

Retail Participation in Health Insurance: A Model of Consumer Preferences

Author

Listed:
  • K.T. Thomas
  • R. Sakthivel

Abstract

Several countries are realizing that, with the increasing cost of health care, commercial health insurance is a key solution to meet health care financing needs of their citizens. India is one of the countries that allowed retail health insurance to begin operations, but the industry sector is still nascent in India with poor retail participation and hence there is an urgent need to understand consumer preferences, so as to significantly increase retail participation. This article has looked at the extant literature in modelling consumer and patient preferences in health industry, and this knowledge base was used to model consumer preferences in retail health insurance. The methodology included a detailed literature review and a primary data survey of 495 respondents, based on a systematic random sampling methodology. From a total of 58 variables, the variables were reduced using factor analysis and then the consumer preferences were modelled using structured equations modelling (SEM). The study provides key consumer perspectives that will be useful for researchers and practitioners facing similar health care market scenarios. The consumer preferences model will help the health stakeholders to design products that will be more suited to consumer needs and improve retail participation, which is a key building block to bridge the health financing gap that most of the countries are facing.

Suggested Citation

  • K.T. Thomas & R. Sakthivel, 2015. "Retail Participation in Health Insurance: A Model of Consumer Preferences," Global Business Review, International Management Institute, vol. 16(6), pages 997-1011, December.
  • Handle: RePEc:sae:globus:v:16:y:2015:i:6:p:997-1011
    DOI: 10.1177/0972150915597600
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0972150915597600
    Download Restriction: no

    File URL: https://libkey.io/10.1177/0972150915597600?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Gates, Roger & McDaniel, Carl & Braunsberger, Karin, 2000. "Modeling Consumer Health Plan Choice Behavior To Improve Customer Value and Health Plan Market Share," Journal of Business Research, Elsevier, vol. 48(3), pages 247-257, June.
    2. Mark Pauly & Bradley Herring & David Song, 2006. "Information Technology and Consumer Search for Health Insurance," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 13(1), pages 45-63.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Determann, Domino & Lambooij, Mattijs S. & de Bekker-Grob, Esther W. & Hayen, Arthur P. & Varkevisser, Marco & Schut, Frederik T. & Wit, G. Ardine de, 2016. "What health plans do people prefer? The trade-off between premium and provider choice," Social Science & Medicine, Elsevier, vol. 165(C), pages 10-18.
    2. Kick, Markus & Littich, Martina, 2015. "Brand and Reputation as Quality Signals on Regulated Markets," EconStor Preprints 182503, ZBW - Leibniz Information Centre for Economics.
    3. Kick, Markus, 2015. "The Price Premium Induced by Branding: A Health Care Case Study," EconStor Preprints 182504, ZBW - Leibniz Information Centre for Economics.
    4. Jonneke Bolhaar & Bas van der Klaauw & Maarten Lindeboom, 2010. "Insurance Search and Switching Behavior," Tinbergen Institute Discussion Papers 10-072/3, Tinbergen Institute.
    5. Mandy Ryan & Diane Skåtun, 2004. "Modelling non‐demanders in choice experiments," Health Economics, John Wiley & Sons, Ltd., vol. 13(4), pages 397-402, April.
    6. Bogue, Joe & Sorenson, Douglas, 2006. "Managing customer knowledge during the concept development stage of the new food product development process," 98th Seminar, June 29-July 2, 2006, Chania, Crete, Greece 10078, European Association of Agricultural Economists.
    7. Bolhaar J & Lindeboom M & van der Klaauw B, 2009. "Insurance Search and Switching Behaviour at the time of the Dutch Health Insurance Reform," Health, Econometrics and Data Group (HEDG) Working Papers 09/14, HEDG, c/o Department of Economics, University of York.
    8. Benlagha, Noureddine & Hemrit, Wael, 2020. "Internet use and insurance growth: evidence from a panel of OECD countries," Technology in Society, Elsevier, vol. 62(C).
    9. Mohd Zuhair & Fuli Zhou & Saurabh Pratap & Ram Babu Roy, 2022. "Eliciting key attributes of health insurance in rural India: a qualitative analysis," SN Business & Economics, Springer, vol. 2(3), pages 1-28, March.
    10. Abiiro, Gilbert Abotisem & Torbica, Aleksandra & Kwalamasa, Kassim & De Allegri, Manuela, 2014. "Eliciting community preferences for complementary micro health insurance: A discrete choice experiment in rural Malawi," Social Science & Medicine, Elsevier, vol. 120(C), pages 160-168.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:globus:v:16:y:2015:i:6:p:997-1011. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.imi.edu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.