Authors: Nomula Sandeep, Dr. D. Harikanth
Abstract: The standalone health insurance sector in India has experienced significant growth due to rising healthcare expenditure, increasing medical awareness, and the growing demand for financial protection against health-related risks. The expansion of specialized health insurance services has increased the importance of evaluating operational efficiency, financial stability, claims management, and customer service performance among health insurers. Operational efficiency assessment has become essential for understanding the sustainability, competitiveness, and service quality of insurance companies in a rapidly evolving healthcare environment. The present study aims to evaluate the operational performance of selected standalone health insurance companies in India, namely Star Health and Allied Insurance, Care Health Insurance, and ManipalCigna Health Insurance during the period from 2015–16 to 2024–25. The study is based on secondary data collected from annual reports, IRDAI publications, and company records. Statistical tools such as Mean, Standard Deviation, CAGR, and One-Way ANOVA were applied for analysis and interpretation. The findings reveal that Star Health maintained the strongest market position and financial stability, Care Health demonstrated efficient claims management and customer service performance, while ManipalCigna showed rapid operational expansion. The study highlights the importance of operational efficiency, digitalization, effective claims settlement, and customer-oriented services in improving organizational sustainability and competitiveness in the Indian health insurance sector.
DOI: http://doi.org/10.5281/zenodo.20458873
