November 4, 2021

How Health Insurers Can Create More Meaningful Policyholder Connections

Woman in light grey top looking at cell phone

As a health insurance provider, it’s vital that you communicate regularly and effectively with your policyholders.  These touch points give you the ability to provide excellent customer service and strengthen your reputation as a credible health insurance company.  However, to stand out from  competitors, insurance companies need to do more.  The future of health insurance is centred around personalization.

Policyholders want to do business with a company that understands them and their unique needs.  Gone are the days when insurance providers would get in touch with their customers just once a year when it was time to renew their policy.  Any effective strategy for building long-term relationships with customers must focus on being a personable and accessible business that provides more than just a policy.  Nowadays, it’s about creating a regular stream of personalized communications to provide the best service and customer experiences. 

As a health insurance provider, you need to demonstrate your relevance to people’s lives. Otherwise, why should they choose your policy over another company’s policy if they’re the same price? What can you provide to your policyholders that makes you different from the sea of other health insurance providers? When you take the time to have genuine interactions with your customers, it strengthens your relationship with them.  Showing that you care for your customers beyond the transaction gives your customers a positive overall experience with your company, increasing customer retention rates and the opportunity for cross-selling.

To provide the personalization customers are looking for, you need to have the data.  API integrations allow for the quick and cost-effective addition of new features into your consumer-facing app in order to engage your customers.  With these new feature integrations, insurers can ingest ongoing inputs of new data to their data lake, customer data platform( CDP), customer relationship management (CRM) platform, or data management platforms (DMP).

Sprout Open Health API™ enhances new and existing applications with advanced, industry-tested features designed to safely and securely capture health, behaviour and lifestyle data. For example, customers can sync their wearable or device to seamlessly share activity data with their insurance carrier.  Integrate with Sprout’s Real-Time HRA™ and provide your policyholders with a scientifically validated health risk assessment that measures an individual's true health status and updates in real-time to reflect their behaviour change.  This personalized feedback, coupled with content delivery powered by machine learning models, translates to meaningful communication and actionable goals that are tailored to a person’s lifestyle. 

In-app notifications, nudges and content offerings, as well as targeted email communications can move from the generic, and instead provide personalized value with a scalable solution.  Connect with your policyholders, empower them to lead their best lives and foster deeper client relationships.  Loyal customers have a lifetime value that’s nearly seven times higher than detractors, according to a study by Bain & Company.  In our digitized world, it is easier than ever for customers to shop around and find a new provider.  Insurers today need to innovate.  

Book your discovery call and discover how Sprout can empower your business to create personalized customer experiences, drive engagement, and build loyalty.

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