Users of health products would opt for technology companies and electricity and/or gas companies if they were to take out health insurance, as confirmed by BRAINTRUST's 2nd Observatory of Competition in the Insurance Sector.
In turn, it has been detected that, among the valuable services not covered by companies in their health insurance, the most desired ones would be assistance for the elderly, genetic tests and profiles, and sports medical check-ups.
BRAINTRUST, in its 2nd Observatory of Competition in the Insurance Sector: Health Sector, analyses, among other issues, the characterisation of the demand for both health insurance and non-health insurance policyholders. It has studied in detail the profile of the health insurance policyholder, their pattern of use, how the contracting process takes place and what their expectations are.
The expectations of users and non-users of health insurance are essential to set future guidelines. In this II Observatory carried out by BRAINTRUST, it has been found that, if users had to contract health insurance with companies not specialised in this field, they would mainly trust technology companies (Google, Microsoft, Apple...) in 20.5% and electricity and/or gas companies (Naturgy, Endesa, Iberdrola...) in 18.74%. Further behind are telecommunications operators (e.g. Movistar, Vodafone, Orange...), department stores (IKEA, Leroy Merlin, Media Markt, etc.), e-commerce companies (e.g. Amazon, Aliexpress, Vente privée...), transport companies (airlines, trains, buses, ferries...) and, lastly, social networks (Facebook, Instagram, Twitter...).
It is crucial for companies to know and understand the expectations and needs of health insurance policyholders as well as the profile and needs of the uninsured. The companies' experience with the client will allow them to define and outline their strategies, as well as to detect shortcomings and deficiencies in order to expand and diversify the market segments and increase the number of contracts. Knowing the needs of both groups will allow them to capture the rest of the age groups and expand the services offered. Thus, for example, this study shows that among the value-added services most desired by policyholders and not covered by their companies in their health insurance policies are assistance for the elderly (73%), genetic tests and profiles (72.9%) and sports medical check-ups (59.3%).
The demand from health users and non-users should not go unnoticed by insurers, says the consultancy firm. In most cases, their needs or preferences will determine the guidelines and strategies to be followed by health insurers in the short and medium term. Knowing how to innovate and adapt to customer demand, together with their own experience, will be the necessary tools to lower the sails of success and be at the forefront of the sector. It will be possible to detect new market niches if the preferences demanded by users and non-users are known in advance; only then will it be possible to offer or improve value-added services that are lacking or not covered by the companies.
Featured image by Luis Melendez on Unsplash
Image post: own elaboration
