Healthcare insurance providers have joined the ranks of other retailers on the web trying to figure out how to make potential customers stay on the site and get enough of what they need to close the sale. Healthcare insurers are late to the online marketing game, analysts say, and are now confronted with the abysmal close rates and short attention spans of the internet shopper.
The number of American individuals shopping for health insurance has jumped from just 10% to 40% of the market, according to analysts from the Psilos group. It’s a global phenomenon as well. And it demands a completely new way of selling healthcare insurance: it’s no longer solely the case of developing a relationship with the benefits department of a corporation that then offers the plan to employees. Now the sales cycle frequently involves coaching someone who is trying to make the decision alone, with the internet as their only guide.
At the same time, health insurance providers face unique, significant challenges:
- A new customer with limited knowledge: This new audience has little to no experience in purchasing or using healthcare insurance. A recent study by the (U.S.) National Academy of Sciences found that 42% of those surveyed could not correctly describe a deductible and 39% didn’t understand the relationship between a premium and a deductible.
- A complex product: Unlike many products available on the web, healthcare insurance is complex. Confronted with this sophistication, plus an increasing number of insurance plan choices, the requirement to do the research on their own, and no previous experience with private health insurance, many consumers are bewildered.
Our new white paper, How to Improve Win Rates and Retention in Healthcare Insurance, outlines some of the tools that other Genesys customers have used to dramatically improve their close rate on the web, including:
- Proactive web engagement that can go a long way toward clearing up confusion at the very moment the prospect is on the website
- Skills-based routing that can ensure the prospect’s question is handled by the most knowledgeable agent
- Omnichannel customer engagement visibility so that agents in the contact center have all the context of the prospect’s interactions whether on the web, on the mobile app, or with the contact center
- Tools that break the “crisis only” communication cycle (e.g. claims and disputes) that is damaging to customer loyalty
With new competitors entering the market and new technologies changing the way the modern consumer chooses to interact, the stakes are high for healthcare insurance providers. But the benefits are also clear: according to the Capgemini World Insurance Report, “findings demonstrate a clear link between improved levels of positive experience and customer behaviors that lead to greater profitability.”
Download our white paper, How to Increase Win Rates and Retention in Healthcare Insurance for additional insights on how to close more applications, improve customer satisfaction scores, and increase competitive differentiation.