IMPACT OF COVID 19 PANDEMIC ON PRIVATE HEALTH INSURANCE IN TURKEY

Objectives: The private health insurance sector in Turkey has been significantly affected by the pandemic in many aspects. As the pandemic unfolded, the need and awareness of individuals and organizations for insurance coverage to protect themselves from the financial and medical consequences of the virus rose up. This situation led to an increase in demand for health insurance, among other products. This study aims to search and analyze the impact of Covid-19 on private health insurance in Turkey. Method: In this study, a comprehensive literature review on private health insurance was conducted. For this purpose, relevant studies and works in the literature were analyzed. Then, data on private health insurance in Turkey between 2018 and 2023 were analyzed. These data were obtained from the database on the website of the Insurance Association of Turkey. Accordingly, total premium production, number of insured, coverage and policies, net incurred claims, claims/premium ratio and technical profit data in the private health insurance branch for the years in question were the subject of the study. The course of these data in selected years has been analyzed and evaluated comparatively using the tabular method. Especially total premium production and technical profit data provide important information about the general condition of the insurance sector. Results: According to the findings of the study, it is concluded that the pandemic has increased the interest and need for health insurance. During the pandemic, the demand for private health insurance increased by approximately 30%. Total private health insurance premium production escalated continuously between 2018 and 2023. Moreover, it is determined that the loss/premium ratios decreased to the lowest level in 2020, the year when the impact of the pandemic was felt most strongly. Therefore, it is understood that the pandemic did not cause a serious downturn in the sector. On the contrary, it seems that after the pandemic, public awareness regarding the importance and necessity of insurance, especially health insurance, has increased. This data shows that health insurance awareness, which was low in society before the pandemic, has significantly enhanced with Covid 19. Originality: At the time of its preparation, this study has been the first research to analyze the effects of the Covid 19 Pandemic on private health insurance in Turkey by analyzing health insurance data for the period between 2018 and 2023 through comparative table analysis. Therefore, it is expected that this study will contribute to the literature.