A Comparative Analysis of Public vs. Private Sector General & Health Insurance Benefits in Emerging Economies

Authors

  • Uma Kant Assistant Professor, Maharishi University of Information Technology, Lucknow UP https://orcid.org/0009-0006-6308-0214
  • Dr. Praveen Joshi Assistant Professor, Maharishi University of Information Technology, Lucknow UP

DOI:

https://doi.org/10.31305/rrijm.2025.v10.n3.020

Keywords:

Health Insurance, financial risk, efficiency, reliability, financial stability

Abstract

Insurance plays a crucial role as a financial risk management tool, enabling individuals and businesses to transfer the risk of potential financial losses to insurers in exchange for premiums. The insurance sector in India is one of the fastest-growing industries, having undergone significant changes from nationalization to liberalization, intensifying competition in the market. This paper presents a comparative analysis of general and health insurance benefits provided by public and private sector insurers in emerging economies, with a specific focus on benefits claim ratios of selected insurers. By evaluating these ratios, the paper aims to assess the efficiency, reliability, and financial stability of both private and public insurance companies, highlighting differences in claims settlement processes, customer satisfaction, and overall performance. The findings provide valuable insights for policyholders, regulators, and industry professionals, enhancing the understanding of insurance dynamics in emerging economies and offering a foundation for policy development and strategic decision-making in the sector.

Author Biographies

Uma Kant, Assistant Professor, Maharishi University of Information Technology, Lucknow UP

Mr. Uma Kant is a highly educated and knowledgeable academician in the fields of Commerce and Management. Currently, he is in the final stages of his Ph.D. at the University of Lucknow, with his degree expected to be awarded in April 2025. Mr. Kant has successfully qualified the UGC NET with JRF in both Commerce (Code - 08) and Management (Code - 17). He holds double postgraduate in Commerce (M.Com.) and Management (MBA). Over the years, Mr. Kant has trained and mentored numerous students preparing for UGC NET in Commerce, Management, CA, and CMA. He has also taught extensively on platforms like Unacademy and YouTube, reaching a broad audience of learners. In addition to his teaching and mentoring roles, Mr. Kant has contributed significantly to academia, with over 10 research papers published in UGC CARE, Scopus, and various national and international journals.

Dr. Praveen Joshi, Assistant Professor, Maharishi University of Information Technology, Lucknow UP

Dr. Praveen Joshi is a distinguished academician with a strong background in management education. He holds a Bachelor's degree in Commerce, a Master's degree in Business Administration (MBA) with a specialization in International Business, and a PhD in Management. With over 11 years of experience in academia, Dr. Joshi has established himself as a renowned expert in his field. His research interests span various aspects of management, and he has published several papers in esteemed international and national journals. Additionally, he holds copyrights to his credit, showcasing his original contributions to the field. Dr. Joshi's academic excellence, research acumen, and teaching expertise make him a valuable asset to the academic community.

References

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Chavan et al. (2023) discuss the role of digital platforms in enhancing insurance accessibility.

Rani & Chauhan (2022) highlight the disparities in health insurance costs between public and private insurers.

IRDAI (2023) provides updated claim settlement ratios, showing a trend in efficiency and claim management differences between sectors.

Deloitte India (2022) emphasizes the impact of digital transformation in the insurance industry, influencing claim processes and policyholder engagement.

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Published

17-03-2025

How to Cite

Kant, U., & Joshi, P. (2025). A Comparative Analysis of Public vs. Private Sector General & Health Insurance Benefits in Emerging Economies . RESEARCH REVIEW International Journal of Multidisciplinary, 10(3), 179–186. https://doi.org/10.31305/rrijm.2025.v10.n3.020

Issue

Vol. 10 No. 3 (2025): RESEARCH REVIEW International Journal of Multidisciplinary

Section

Articles

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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

This is an open access article under the CC BY-NC-ND license Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0).