Introduction

Star Health & Allied Insurance Company Profile

 Founded in 2006, Star Health and Allied Insurance is a standalone health

insurer headquartered in Chennai, India. Star Health and Allied Insurance is a
joint venture between Indian venture capitalist firms- Star Health Investments,
ICICI Venture, Sequoia Capital and foreign investors which include Oman
Insurance Company- Middle East insurance solution provider and ETA Ascon
Group- UAE contracting firm.

 Star Health and Allied Insurance Product Portfolio:

 Health Insurance: Health Insurance provides comprehensive cover and takes

care of medical expenses in case the policyholder is hospitalized due to illness.
Star Health has wide portfolio of health insurance plans which include Star
Unique Health, Star Wedding Gift, Medi Classic, Diabetes Safe, Family Health
Optima, Senior Citizen Red Carpet, Super Surplus, Star Netplus, Star Health
Gain and Star Criticare Plus. Star Health Red Carpet has been specially
designed for senior citizens aged between 60-69 years and provides Sum
Assured with maximum limit of Rs 5 lacs.
 Travel Insurance: The policy provides cover for hospitalization and other travel
related eventuality that could happen while travelling abroad. Star Health travel
insurance is available for family, students and corporate.
Accident Cover: In case policyholder is injured in accident, compensation is provided to the
concerned person.

History
Star Health and Allied Insurance Co. is a joint venture formed by Oman Insurance Company,
Essa Abdullah Al Ghurair from the prominent Al Ghurair family and Tamil Muslim
entrepreneurs. Established in 2006, Star Health is an insurance company with business
interest in health insurance alone.
Vision
Protecting Health, Promoting Health

Mission
Ultimate Customer Satisfaction.

OUR NET WORK

 Head office – Chennai.
 10 zonal offices .
 19 area offices.
 141 branches.
 2300 employees.
 Karnatka zonal office – Bangalore.
 Total branches Bangalore – 8.
 Out side Bangalore -10 Bangalore.

BOARD OF DIRECTORS

 Shri.v. jagannathan – CMD. (former CMD of United India Ins.Co)

 Essa Abudlla A Ghurair – (A prominent Family in the UAE.)
 Dr.M.Y.Khan -  (Chairman Banking and Advisory Council YES BANK)
 Dr.D.R.Karthikeyan (Former Director of CBI)
 Mr.V.P.Natarajan ( Exe.Director of ETA Ascon & ETA Star Group of Co)
 Mr. Mohammed Hassan – (educationalist & Industrialist)
 Mr.Dinesh Chandra gupta – (Eminent IAS Officer)

KEY PERSONNEL
 Mr.T.S.Santhanakrishnan . (Executive Director)
 Mr.S.Sundaresan – (Senior Vice President)
 Mr.V.Jayaprakash -  (Senior Vice President)
  Mr.S.Ramaswamy (Chief Financial Officer)
 MR.C.M.Kannan unni (VP – Company Secretary)
 Mr.K.C.Kumar (VP - HR)
 Mr.Anand roy (AVP - Marketing)
 Mr. Vishwajeet mohnot ( AVP – Marketing)
 Mr. A.M. Mallesh (AVP– Marketing – mother Theresa award in Insurance)
 Mr. H.Srinivasan – (AVP – Technical)
 Mr .S.D.Rama (AVP – Product Development)
 Mr.Senthilkumaran – (AVP – Government initiatives

About star health

 Licensed by IRDA.
 First Stand Alone Health Ins. Co In India.
 Specialised in Unique Health Insurance Policy.

Catering to
 Retail public
 Large groups
 BPL families (under Govt.Sponsorships)
 State government employees  

ABOUT THE COMPANY

 Promoters
 Omaninsurance Company
 Mr.Syed Mohamed salahuddin
  AL ghurair family – (one of the world’s richest family – Forbes)
 Leading indian industrialists & business houses

OUR PERFORMANCE

 2006 – 07 : Rs. 22.51 Crores

 2007 – 08 : Rs. 168 Crores
 2008 – 09 : Rs. 512 Crores
 2009 – 10 : Rs.987 Crores

GOVERNMENT SCHEMES AROGYASRI

Health Insurance Scheme

 1ST April 2007.
 Govt of Andhra Pradesh
 Below Poverty Line People.
 6.5. Crores
 23 Districts.
 3600 Star Employees
RESEARCH METHODOLOGY

1.2 STATEMENT OF THE PROBLEM

Insurance sector is a booming sector and the penetration in India is quiet low. So, all the
private players are trying to increase the market share in the public. This study also involves
creating awareness among the urban and rural student about the insurance sector and also the
various policies involving various premium rates. Since the penetration of private companies
and policies is low among the student, it is necessary to create awareness about life insurance
policies and to know the satisfaction level among student. Hence the present studies entitled
awareness about it among the student.
 The problem for the study is the many of the student not aware about the insurance
and some of the get the aware about health insurance but not detail information for the
insurance.
The awareness of the insurance to peoples for very low and there is no advertisement
about the insurance for rural areas and The student for misunderstand about the health
insurance and peoples for not understand the importance of the insurance.

OBJECTIVES OF THE STUDY

Indian Insurance sector is a little over a decade old but with huge growth
potential, it is growing rapidly. At present, there is only a handful of people in India that are
under health cover but it is expected to increase by six times by 2015,because of increase in
income level and change in lifestyle. It has been noticed that innovation coupled with variety,
value and choice are some of the parameters driving Indian health Insurance.
The scope of health insurance is high with abundance of healthcare solutions provided by the
private sector. Student awareness in insurance sector because of better quality of care and
more number of insurance benefits and facilities. With all kinds of insurance policies
available, it allows all. Health insurance. General insurance life insurance. And Insurance
policies are available.
There are many insurance options, each of which has its own advantages and disadvantages.
As per the research and student survey, life insurance is performing the best with respect to
quality of services and its penetration into market so benefits as and when required in life.

This section deals with description of methodology and the steps undertaken for
collection and organization of data and pressing the findings of investigation. The
methodology of research individual the general pattern of organizing procedure for gathering
valid and reliable data for the purpose of investigation.
The methodology of the study includes the description of research design, population,
sampling size, sampling technique development and description of tool data collection
procedure and method analysis.

CHAPTER- II
DATA ANALYSIS AND INTERPRETATION
INTRODUCTION
Analysis means the computation of certain idea or measuring along with searching for
patterns of relationship that among that exist among the data groups. Analysis, particularly in
case of survey of experimental data, involves estimating the values of unknown parameters of
the population and testing of hypothesis for drawing inferences. Analysis may, the therefore
be categorized as descriptive analysis and inferential analysis. Inferential analysis often
known as statistical analysis.
Descriptive analysis is largely the study of distributions of one variable. The study
provides with profile of companies, work group, persons and other subjects on any of a
multiple of characteristics such as size, composition, efficiency preferences.
Interpretation can be conceived of a part of analysis. The task oh interpretation has
two major aspects viz. the effort establish continuity in establishment of some explanatory
concepts. It connects the finds with the available material in a particular area of research.
The following are the sources of data for the study:
a) Primary sources
b) Secondary sources

a) Primary sources:
The original sources from which the research directly collects data that have been previously
collected. The first-hand information collected through various methods is explained under:
 Personal interviews
 Questionnaire
Interview method: Officers of the marketing department and other department concerned
with the promotion activities of the organization were interviewed to obtain first-hand
information.
Questionnaire method: This questionnaire consists of question for consumers which
includes multiple choice questions, in order to get first-hand information directly from the
end users.
b) Secondary sources:
Refers to the existing available sources of information such as:
 Documents of the departments concerned
 Reference books
 Internet

.
Geographical Coverage
No work can be undertaken without cooperation of respondents who were interviewed
from which data was collected through questionnaire. Therefore, respondents play a very
important role in this type study. The study conducted in Namakkal district. By areas from
which data was collected and respondent’s approaches

RESEARCH APPROACH
Research design refers to the researchers over plan for obtaining answer to the
research question and the strategies that researchers adopt to develop information that is
adequate, accurate, objective and interpretable. Research design is blue print design study
that maximizes the control over factor that could interpret with the study desire outcome
TABLE- 4.1
CLASSIFICATION ACCORDING TO GENDER

S. No Gender No. of. Respondents Percentage

1. Male 97 64.7%

2. Female 53 35.3

Total 150 100%

Source: Primary Data

The above table shows the classification of the respondents on the basic of their
gender. Out of 150 respondents, 64.7% of them are male and 35.3% of the respondents are
female.
Hence the majority of the respondents are male respondents of 64.7%.
CHART- 4.1
CLASSIFICATION ACCORDING TO GENDER

70.00%
64.70%

60.00%

50.00%
PERCENTAGE

40.00%
35.30%

30.00% Percentage

20.00%

10.00%

0.00%
Male Female
GRNDER
TABLE- 4.2
CLASSIFICATION ACCORDING TO AGE

S. No Age level No. of. Respondents Percentage

1. Below 20 years 54 36%

2. 21-40 years 18 12%

3. 41-60 years 70 46.6%

4. Above 60 years 8 5.4%

Total 150 100%

Sources: Primary Data

The above table it is clear that 36% of the respondents belong to the age group of up
to below 20 years, 46.6% of respondents are in the age group of 21- 40 years and 12% of the
respondents are in the age group of 41-60 years. Only 5.4% of the respondents belong to the
above 40 years age group majority of respondents.
Hence the majority of the respondents belong to the 46.6% respondents are in the age
group of 41- 60 years
CHART-4.2
CLASSIFICATION ACCORDING TO AGE

ACCORDING TO AGE
50% 47.00%
45%

40%
36.00%
35%

30%

25%

20%

15% 12.00%
10%
5.50%
5%

0%
Below 20 years 21-40 years 41-60 years Above 60 years

Percentage No. of. Respondents

TABLE – 4.3
CLASSIFICATION ACCORDING TO EDUCATIONAL QUALIFICATION

S. No Educational No. of. Respondents Percentage

qualification
1.
SSC 10 6.6%

2.
HSSC 37 24.66%
3.
Graduate 28 18.7%
4. Post graduate 17
11.33%
5. Professional
37 24.6%
6. Other
(specify)
21 14%

Total 150 100%

Source: Primary Data
The above table gives detailed study of this literacy level of respondents. From the above
table it is evident that out of 150 sample respondents. 6.6%of the respondents are SSC Level,
24.66% of the respondents under HSSC, 18.7%of the respondents are graduate, 24.6% of the
respondents are professional, 11.33%of the respondents are Post graduate, 14% of the
respondents are Other(specify)
The majority of the respondents are under HSSC, Professional level of 50%.
TABLE- 4.3
CLASSIFICATION ACCORDING TO EDUCATIONAL QUALIFICATION

EDUCATIONAL QUALIFICATION
 

30%

25%

20%

15%
24.66% 24.60%
10% 18.70%
14.00%
5% 11.33%
6.60%
0%
SCC HSSC Graduate Post Graduate Illiterate Other

No. of. Respondents

TABLE- 4.4
CLASSIFICATION ACCORDING TO MATERIAL STATUS

S. No Material status No. of. Respondents Percentage

1. Married 46 30.6%

2. Unmarried 104 69.4%

Total 150 100%

Source: Primary data

The above table shows the classification of the respondents on the basic of their
material status. Out of 150 respondents, 30.6% of them are married and 69.4% of respondents
are unmarried.
Hence the majority of the respondents are unmarried of 69.4%.

CHART- 4.4
CLASSIFICATION ACCORDING TO MATERIAL STATUS
 80.00%
69.40%
70.00%

60.00%

50.00%
PERCENTGE

40.00%
30.60% Percentage
30.00% NO. of. Respondents

20.00%

10.00%

0.00%
Married Unmarried
MARTIAL STATUS

TABLE- 4.5
CLASSIFICATION ACCORDING TO OCCUPATION LEVEL

S. No Occupation level No. of. Respondents Percentage

 1. Govt. Employee 64 42.6%

2. Self. Employee 20 13.4%

3. Labor 22 14.6%

4. Own Businessman 24 16%

5. Professional 20 13.4%

Total 150 100%

Source: Primary Data

From above table it is clear that majority of be respondents belong to the students of
42.6% while 13.4% belong to the Govt. employee, 14.6% belong to private employee, 16%
belong to businessman and 13.4% of the respondents belong to the professional.
Hence the majority of the respondents are students of 42.6%

CHART- 4.5
CLASSIFICATION ACCORDING TO OCCUPATION LEVEL
 13.40%

16.00% 42.60%

Students
Govt. Empolee
Private Empolyee
Businessman
Professional

14.60%
13.40%

TABLE- 4.6
CLASSIFICATION ACCORDING TO FAMILY TYPE

S. No Family Type No. of. Respondents Percentage

1. Joint family 44 29.33%

2. Single 74 70.66%

Total 150 100%

Sources: Primary Data

From the above table reveals 29.33% of the respondents Joint family 70.66%of
the respondents are Single
Hence the majority of the respondent family type are Single of 70.66%
CHART- 4.6
CLASSIFICATION ACCORDING TO FAMILY TYPE

80.00%

70.00%

60.00%

50.00%
PERCENTAGE

40.00% 70.66%

30.00%

20.00% 29.33%

10.00%

0.00%
joint family single

FAMILY TYPE
TABLE- 4.7
CLASSIFICATION ACCORDING TO INCOME PER MONTH

S. No Income No. of. Respondents Percentage

1. Below Rs.50,000 57 38%

2. Rs.50,000-1,00,000 28 18.66%

3. Rs.1,00,000-1,500,000 20 13.4%

4. Rs.1,50,0000-2,00,000 18 12%

5. Above 2,00,000 27 18%

Total 150 100%

Source: Primary Data
The above table reveals that 38% of the respondents belong to income level
Below Rs.50,000, 18.66%of the respondents belong to income level Rs.50,000-
1,00,000,13.4% of the respondents belong to income level Rs.1,00,000-1,500,000 while
only 12% of the respondents belong to income level Rs.1,50,0000-2,00,000 , 18% of the
respondents belong to income level Above 2,00,000
Hence the majority of the respondent income level of Below Rs.50,000of 38%.

CHART- 4.7
CLASSIFICATION ACCORDING TO INCOME PER MONTH

40% 38%
35%
30%
percentage

25%
20% 19%
15% 13% 12% 12%
10% No.of. Respondents
5%
0%
INCOME PER MONTH
TABLE- 4.8
CLASSIFICATION ACCORDING TO HEALTH INSURANCE POLICY

S. No Options No. of. Respondents Percentage

1. Yes 102 68%

2. No 48 32%

Total 150 100

Source: Primary Data

From the above table, it inferred that 68% respondents are says yes to all
members are using the same brand and 32% respondents are say no to all members are
using the same brand.
Hence the majority of the respondents are says yes to all members are using the
health insurance policy 68%.
CHART- 4.8
CLASSIFICATION ACCORDING TO HEALTH INSURANCE POLICY

No
32%

Yes
68%

Yes No
TABLE- 4.9
CLASSIFICATION ACCORDING TO INSURER

S. No Insurer No. of. Respondents Percentage

1. Public 54 36%

2. Private 70 46.6%

3. Any Other 27 17.33%

Total 150 100%

Source: Primary Data

The above table reveals that 36%of the respondents belong to public, 46.6%of
the respondents belong to Private, and 17.33% of the respondents belong to Any other.
Hence the majority of the respondents belong to Private46.6%.

SWOT Analysis
STRENGTHS
• Medical Coverage
• Strong Reach and Development ability
• Easy Claim Experience
• Distribution and Geographical Access
• Surplus and Return Management
• Using of New technology
• Increase in Product Line ( i.e. providing insurance cover for multiple diseases )
WEAKNESSES
• Limited High End Products
• Low Profit Margin
• Less Number of products
• Customers opting against insurance
OPPORTUNITIES
•Government encouraging people to opt for health insurance
• Growing Health Insurance Market
• Trend shows the increase in percentage of expenditure on health
• Increasing presence and visibility in the Markets
• People getting more conscious for Health
• New Technology
THREATS
• Low penetration and accessibility
• Mindset and cultural practices
• Low Spending on health Insurance
• Strong Competitors
• Low literacy levels and information penetration

External Factor Evaluation Matrix STA

GE 1
Weigh Ratin
Key External Factors Score
t g

Opportunities
•Government encouraging people to opt for health insurance 0.06 1 0.06
• Growing Health Insurance Market 0.15 4 0.6
• Trend shows the increase in percentage of expenditure on health 0.10 3 0.3
• Increasing presence and visibility in Markets 0.09 3 0.27
• People getting more conscious for Health 0.07 2 0.14
 • New Technology 0.12 3 0.36
Threats
• Low penetration and accessibility 0.12 1 0.12
• Mindset and cultural practices 0.07 4 0.28
• Low Spending on health Insurance 0.10 2 0.2
• Strong Competitors 0.14 1 0.14
• Low literacy levels and information penetration 0.08 3 0.24
TOTAL 1.00 - 2.74

By using the EFE matrix we identify the key external opportunities and threats that are
affecting or might affect the star health insurance. By doing PESTEL analysis of the Star
Health insurance we have identified the factors which may impact the Star health and also the
opportunity for the star health.
I have identified opportunity and threats and assigned the weight on the basis of analysis I
have done. Health insurance is quite new concept in India and it has started to take a big leap
now. People are getting more conscious about their health and opting for the insurance cover
and also we can clearly see a trend which is growing day by day for the health insurance that
is certainly a good news for the insurance sector and insurance companies as they could
exploit the opportunity they would get in future. So the maximum weight is given to growing
health insurance market (0.15) followed by trend which shows people are more expending on
their health (0.10) and new technology (.12) a recent article which is published on business
standard talks about the technology is evolving the insurance sector and helping insurance
sector to make the claim process of customer more easier and hassle free.
Taking about the threat the maximum weight is given to strong competition (0.14) the
competition is quite high in the health insurance. There are other companies which have good
hold on the market share for example Max Life health insurance, Bajaj health insurance,
Religare etc. The other threats include low penetration as people are not aware about the
health insurance and they see the health insurance as sunk cost, apart from that other threats
include low literacy levels and mindset and culture practices.

Competitive Performance Matrix(CPM) - STAGE 1

Max Bupa Bajaj Allianz

Star-Health Health Apollo General
Parameters Insurance Insurance Munich Insurance

Weight Ratin Scor Ratin Scor Ratin Scor

Critical Success Factors Rating Score
s g e g e g e
 Branch Locations 0.04 4 0.16 2 0.08 3 0.12 2 0.08
Market Share 0.15 4 0.6 3 0.45 2 0.3 2 0.3
Customer Loyalty 0.08 2 0.16 4 0.32 2 0.16 2 0.16
Market Penetration 0.09 4 0.36 3 0.27 4 0.36 2 0.18
Advertising 0.07 2 0.14 3 0.21 3 0.21 2 0.14
Product Variety 0.06 2 0.12 3 0.18 2 0.12 2 0.12
Claim Ratio 0.08 2 0.16 3 0.24 2 0.16 2 0.16
Brand reputation 0.08 2 0.16 3 0.24 2 0.16 2 0.16
Financial Position 0.12 4 0.48 2 0.24 4 0.48 2 0.24
Price Competitiveness 0.03 2 0.06 3 0.09 2 0.06 2 0.06
Customer Services 0.10 2 0.12 3 0.18 2 0.12 2 0.12
Product Quality 0.05 2 0.18 3 0.27 2 0.18 2 0.18
Product Promotions 0.03 4 0.12 4 0.12 4 0.12 2 0.06
Organization Culture 0.02 1 0.02 3 0.06 3 0.06 3 0.06
TOTAL 1.00 - 2.84 - 2.95 - 2.61 - 2.02

The Competitive performance matrix identifies a firm’s key competitors and compares them
using industry’s critical success factors. The analysis also reveals company’s relative
strengths and weaknesses against its competitors, so a company would know, which areas it
should improve and, which areas to protect.
Weight
Each critical success factor should be assigned a weight ranging from 0.0 (low importance) to
1.0 (high importance). The number indicates how important the factor is in succeeding in the
industry. If there were no weights assigned, all factors would be equally important, which is
an impossible scenario in the real world. The sum of all the weights must equal 1.0. Separate
factors should not be given too much emphasis (assigning a weight of 0.3 or more) because
the success in an industry is rarely determined by one or few factors. In our first example, the
most significant factors are ‘strong online presence’ (0.15), ‘market share’ (0.14), ‘brand
reputation

conclusion
Star Health and Allied Insurance Company Limited, a health insurance company, provides
various health insurance plans for individuals, senior citizens, and families in India. It offers
health insurance policies for future ailments/diseases and for pre existing diseases/conditions.
The company also provides student insurance care policies that grant compensation in the
event of death, disability, or hospitalization expenses for school and college students, schools,
colleges, and research institutions; travel protection insurance policies for individuals,
families, students, and corporate customers; and accident care insurance policies that provide
compensation in the event of death, permanent...

References:
 http://health.economictimes.indiatimes.com/news/industry/interview-healthcare-
insurance-challenges-and-opportunities/47999563
 http://www.starhealth.in/
 https://en.wikipedia.org/wiki/Star_Health_and_Allied_Insurance
 http://www.maxi-pedia.com/
space+matrix+model+strategic+management+method
 https://en.wikipedia.org/wiki/IFE_matrix
 https://en.wikipedia.org/wiki/Ansoff_Matrix
 https://en.wikipedia.org/wiki/Strategic_management

ANNEXURES
Operations
1. What are the general operational processes in your company?
2. What is the process of handling complaints?
3. Explain the execution process once you receive the customer?

Finance

1. What are the sources of your company finance?

2. How do you manage the working capital, what are the sources for the working capital?
3. Do you have any investment plan or have you made any investment apart from your
business?

4. What are the accounting procedures followed by the company?

5. Is the company into the practice of preparing the budget and what are the different
types of budgets prepared by the company?
Human resource

1. What are the process involved in recruitment and selection?

2. What is the salary structure for different levels of employees?

3. Do you have any training calendar, what is the training programs offered for the
employees?

4. What are the various welfare program offered by the company?

5. How the grievances of the employees are addressed to the management?

6. Do you conduct exit interview?

7. How does the employee performance appraisal take place?

Marketing
1. What all are your pricing strategy
2. Who are all your target customers, how do you reach them?
3. Who all are your present competitors & how do you deal with them(USP)?