In a changing health insurance market, payers used to marketing to employers are finding consumer engagement is the new name of the game. Prior success with marketing to groups doesn’t predict insurers’ ability to win over customers. And with 50 million new customers expected to enter the post-reform individual market, insurers face a massive adaptation test.
Specifically, payers have five key challenges in the consumer-driven market, according to a new white paper from Infosys Public Services. They include:
- Acquiring and retaining new members through multiple channels;
- Changing business models from employer-centered (B2B) to consumer-oriented (B2C);
- Competing on value and consumer-focused offerings;
- Differentiating with unified customer experience across the lifecycle; and
- Engaging customers to reduce costs and improve health outcomes.
To meet these challenges, payers must show customers the value of their products, equip them to make informed insurance decisions and secure their commitments to personal health, said Infosys, a business consulting and technology solutions firm. That may be a tall order given low levels of health insurance literacy.