The competitive landscape in the grocery industry just keeps getting stiffer. Why? One important factor is that shoppers don’t rely on a single store anymore for all their needs. Instead, they are buying specialty items at one store, and more basic ones at another. (Read this article from the StarTribune that inspired this post.) Additionally, “value” has taken on a new meaning for them. Not only is the price of groceries taken into account, but so is time and gas money.
Health insurance companies need to understand their changing market landscape in order to prepare for a time when the population has greater choice under the Affordable Care Act (ACA) and providers are forced to compete for members. And there are certain fundamental questions that face a company when competing for these customers
In 2014, the landscape of the health insurance exchanges will look a lot like Las Vegas. Each health insurance company will have its sales message and product offerings couched in flashing lights and bright costumes. So how do you make your products and services stand out?
In my last post, we covered the scenario where companies cut loose their employees—your members—to seek their own health insurance as an individual. As an health insurer, you’ll want to capture as many of those newly released individuals as you can, but if you focus solely on them you will miss a smaller but still desirable market: the highly valued (and therefore highly compensated) employees.
Health insurance marketers, 2012 is going to be a busy year for you. Although the Affordable Care Act won’t be enacted until 2014, everything you currently know and say about the products you provide has to change.