Information asymmetry minimization system for potential clients of healthcare insurance in Indian context using semantic web

Abstract

The huge expenses for healthcare by the larger section of the population in India have made it economically crucial. The healthcare insurance is one of the cost-effective solutions to control the out-of-pocket expenditure in the sector. Nevertheless, the existing information asymmetries in the field of healthcare insurance bewilder the potential client in selecting the right policy. They are more dependent on the business agents for information and the chances of being exploited become high due to the imbalance in the information. This paper proposes an information system that makes use of semantic Web techniques to minimize the information asymmetry in Indian healthcare insurance market. The emerging concepts of semantic data mining encourage the cooperative way of existence and reduced chances of exploitation of the client or patient.