October 21, 2021
U.S. health insurance companies have had a tough few years. The pandemic brought new challenges, and forced companies to quickly activate new services and messaging around prevention, testing, and treatment for COVID-19. Meanwhile, all the companies that have struggled to meet premiums or even gone out of business have brought new financial pressures to an already-stressed industry.
How can health insurers make the most of customer experience data to identify and prioritize the changes that will have the biggest impact on ROI?
When we did our latest Verint Experience Index (VXI) report on health insurance providers, we thought it might be useful to look at different customer segments to understand how needs and expectations differ from group to group. Understanding these generational differences may shed light on how to prioritize health insurance customer experience improvements.
Here’s a rundown of the generations we surveyed for this study and some of the top findings:
Using an open-ended question, we asked members what they like best about their current health insurance company. There were a number of notable findings:
Our research showed that overall, mental health coverage was a relatively unimportant benefit (15.8 on a 100-point scale of relative importance).
However, when we look at a few specific member segments, we see that mental health benefits are incredibly important to Generation Z, Millennials, and people with children in the household.
Similarly, cost transparency matters more to Generation Z than it does to other segments. Cost transparency also impacts trust, communication, and financial considerations in a way some other features don’t.
In fact, while the average importance of cost transparency across all respondents is 37.2, Generation Z values it (79.2) almost as much as they value benefits (100).
Health insurance customers are not a monolith. It makes sense that older people, who statistically have more health concerns, would have different needs than younger people.
Busy executives can use generational insights to make targeted changes. For example:
Remember that customer experience surveys alone are not enough. Critical insights exist in unstructured data like comments, web chats, emails, social media, and call notes that can drive enhanced insight and identify pain points early. Connecting the data through the right framework is key.
CX Best Practices, CX Strategy, Healthcare, Research & CX Data