Stormproofing against upstarts
Carriers and brokers are struggling with fundamental changes in their roles as the go-to-market landscape transforms around them. As margin compression continues, and competitive encroachment increases, the most critical path to success is to win on Customer Experience. In an effort to identify which Customer Experience strategies are guiding Insurance businesses’ success, we analyzed real customer conversations, competitors, and client insights to uncover strategies we see the most successful companies adopting.
Over the course of the fall, our analysts monitored open enrollment, synthesizing the trends, conversations, and themes dominating the group benefits discussion. In an on-demand, 30-minute webinar we summarize our observations and provide strategies to give you a head start on landing and expanding new groups in 2020.
With only one day to go before AEP closes, consumer fatigue with MA advertising appears to have set in. Despite significant advertising and marketing investment, KFF just released a study that shows how few people actually voluntarily switch plans during AEP. Consumers get smarter about Supplemental Plans—and carriers get smarter about targeting. And the issue of social isolation among seniors garners a lot of attention.
The last few weeks we have picked up a lot more discussion around emerging categories of enhanced benefits as new products are “digested” by the market throughout this open enrollment; a continued focus on cost control and driving employee engagement; and ultimately, discussions about the future of employer-based benefits in today’s high-cost environment….
Not surprisingly, the rhetoric has heated up as consumers began to react to the multiple messages and plan options being received around Medicare Advantage across nearly all media channels as AEP shifts to full speed. The “improved” CMS Star Rating system results were released on October 11 and show that Medicare Advantage…
Welcome to week two of our Fall 2019 Group Benefits Open Enrollment Digital Listening Bulletin. Even more of the benefits conversation turned to the rising costs of the healthcare portion of group benefits over the last two weeks as the reality of 2020 plan options settles in and employers and employees are both faced with rising plan costs, decreased benefits-or both. According to the KFF 2019 Benchmark Employer Health Benefits Survey released in late September, annual family premiums rose 5% in 2019…