A Study on Days of hospitalization of insured with the claims data

Abstract

: The health insurance sector has grown at a double digit growth rate in India in the past decade. The Government schemes for the individuals' insurance coverage from the low-income group have resulted in higher penetration. Raise in the disposable income of the middle income and awareness of health insurance has led to self-subscription by private individuals. An increase in insurance penetration has also led to an increment in the claims for the insurer. However, the insurance coverage has been actively subscribed by the population in the age group of 19-64 years. The average claim amount processed is higher in infants and aged people. Days of hospitalization for the insured treatment help the insurers derive the claims' amounts and hence can budget the reserves accordingly. Days of hospitalization is found to have a strong positive relationship with age. Logistic regression of Half-yearly bins data has the predictability of Days of hospitalization of claimants at 69%.