Research Article
Modeling Pure Risk Premium for Mental Health Insurance in India: An Actuarial Approach
Madhurima Ghosh*
Issue:
Volume 14, Issue 1, March 2026
Pages:
1-9
Received:
19 June 2025
Accepted:
7 January 2026
Published:
2 February 2026
Abstract: Mental health conditions impose a substantial economic burden in India, yet evidence on treatment costs and insurance pricing-particularly for outpatient psychiatric care-remains limited. This cross-sectional study estimates provider-reported outpatient treatment costs for common and severe mental illnesses and derives indicative insurance premiums using a prevalence-based actuarial approach. Primary data were collected through structured interviews with 100 mental health professionals, including psychiatrists (n = 47), psychologists (n = 28), and counselors (n = 25), practicing in private outpatient clinics across four major referral hubs-Kolkata, New Delhi, Bangalore, and Pune. While 77% of clinics were urban and 23% semi-urban, providers served patients from urban, semi-urban, and rural areas. From the provider perspective, the estimated annual treatment cost for common mental illnesses such as depression and anxiety were INR 57,571, with psychological and pharmacological interventions accounting for 80.5% of out-of-pocket expenditure. For severe mental illnesses, including schizophrenia and bipolar disorder, the annual cost was higher at INR 77,237, largely driven by counseling, psychotherapy, and medication costs (85.4%). Based on prevalence-adjusted costing, pure risk premiums were estimated at INR 1,900 annually for depression and anxiety, INR 463 for bipolar disorder, and INR 232 for schizophrenia. Applying premium loadings of 40–90% to account for administrative costs and uncertainty yielded indicative insurance premiums aligned with early-stage mental health coverage markets. Although the estimates assume full treatment-seeking behavior and may overstate realized claims, they provide a pragmatic economic basis for mental health insurance pricing and policy planning in India.
Abstract: Mental health conditions impose a substantial economic burden in India, yet evidence on treatment costs and insurance pricing-particularly for outpatient psychiatric care-remains limited. This cross-sectional study estimates provider-reported outpatient treatment costs for common and severe mental illnesses and derives indicative insurance premiums...
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Research Article
Self-Regulation Status of Exporters and Nigerian Crop Produce Rejection
Issue:
Volume 14, Issue 1, March 2026
Pages:
10-21
Received:
17 January 2026
Accepted:
26 January 2026
Published:
20 February 2026
Abstract: This study investigated the relationship between self-regulation status of exporters and the level of Nigerian crop produce rejection by the destination countries. This study adopted descriptive research design using a cross-sectional survey. Primary data were sourced from a sample of 305 crop exporters with the aid of a structured questionnaire. Data were analysed using descriptive statistics, principal component analysis, and ordinary least square regression (OLS) model. The results of principal component analysis showed that a high proportion (39.67%) of the exporters were non self-regulated. The OLS regression results showed that the five domains of self-regulation; absence of phytosanitary certificate, infestation of crop produce with harmful organisms and/or contaminants, forgery and/or alteration of phytosanitary certificate, concealment of strange agro-produce in a consignment of certified crop produce, and exportation of prohibited materials, had significant relationships with crop produce rejection at p<0.01, as they increased the number of times of crop produce rejection by 4.24, 4.73, 3.29, 3.89, and 2.81, respectively. At p<0.01, exporters being non self-regulated significantly increased the number of crop rejection by approximately 5 times. In conclusion, infestation of crop produce with harmful organisms/contaminants contributed most to Nigerian crop produce rejection and there is a significant relationship between self-regulation status of crop produce exporters and Nigerian crop produce rejection. It was recommended that the Nigeria Agricultural Quarantine Service should train the crop exporters more on the need to meet laid down protocols, guidelines, and processes involved in phytosanitary inspection. This is with a view to improving the exporters’ self-regulation and support the zero rejection initiative of the Federal Government of Nigeria.
Abstract: This study investigated the relationship between self-regulation status of exporters and the level of Nigerian crop produce rejection by the destination countries. This study adopted descriptive research design using a cross-sectional survey. Primary data were sourced from a sample of 305 crop exporters with the aid of a structured questionnaire. D...
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