International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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A Study on Service Marketing Mix Strategies in Health Insurance Companies of Karnataka

Author(s) Dr. Mahesha N M
Country India
Abstract The health insurance industry is an important sector of the country's economy, with huge opportunities for development. The India health insurance market size was estimated at USD 15.06 billion in 2024 and expected to grow at a compound annual growth rate of 20.87% from 2025 to 2030 to reach USD 46.37 billion by 2030. The private segment dominated the market in 2024 and accounted for the largest revenue share of 65.94% in 2024. For families and people, the market of health insurance is necessary in guaranteeing access to financial stability and healthcare services. Moreover, insurance businesses should form effective marketing strategies that not only attract clients but also retain the existing clients in a market of high competition and expectation. The current study was to investigate the influence of different service marketing mix strategies on customer buying behaviour in the context of health insurance. It has identified the importance and impact of various service marketing mix strategies on purchase behaviour. The study revealed that the mean score value for all the service marketing mix strategies ranges from 3.962 to 2.454. The Star Health's promotion strategy had the highest mean score (3.962), whereas Star Health's place strategy had the lowest mean score (2.454). The study has also revealed that the selected companies' place strategy and promotion strategy differ from one another. The mean score value of Star Health's place strategy is notably distinct from the mean score value of the place strategies of HDFC ERGO, Bajaj Allianz, and Aditya Birla Health. The mean score value for Star Health's promotion strategy is significantly different from the mean scores for HDFC ERGO Bajaj Allianz and Aditya Birla Health. This is indicated by the p-values being less than the significance value of 0.05. However, the other strategies, such as product, price, people, process, and physical evidence, are the same for all the selected companies. The service marketing mix strategy explains the test statistics as F (3,396) = 2.69, with a p-value of 0.046. The p-value is below the value of significance (p = 0.05). Therefore, there is a significant impact of service marketing mix strategies on the purchase behaviour of customers. Service marketing mix strategies that focus on product, promotion, people, process, and physical evidence significantly influence the buying behaviour of customers. The product and process strategy have the most significant influence on buying behaviour, whereas the price and place strategy have no impact on purchase behaviour. Health insurance companies in India use the 7Ps Marketing mix to enhance customer satisfaction, increase market share, and build trust by offering innovative products, competitive pricing, efficient claim processes, skilled personnel, and a strong digital presence. An insurer can create a sustainable competitive advantage in the growing Indian health insurance market.
Keywords Health Insurance, Service Marketing Mix, Product, Price, Place, Promotion, People, Process, Physical Evidence, Purchase Behaviour
Field Business Administration
Published In Volume 8, Issue 3, May-June 2026
Published On 2026-06-14
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E-ISSN 2582-2160
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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