Client: Healthcare Insurance Firm
Objective
To identify distinct segments of customers of an insurance company based on health benefit needs
To understand customers prospect and unmet needs
Methodology:
Primary Research
–Designed and administered a 45 minutes long questionnaire (including qualitative and quantitative questions) among existing or past customers using Computer Assisted Telephone Interview (CATI) methodology.
–Identified key factors impacting the selection of health insurance providers.
–Determined the general perception about the current insurance provider
–Recognized the unmet needs so as to find ways to better serve customers.
–Developed segmentations to be used while profiling customers and their respective prospects.
–Identified and analyzed key threats and weakness of the existing insurance provider through information collected via interviews
Valuation Analysis:
Identified unique segments, based on the data analysis and segmentation modeling.
Segments were chosen based on: business outlook and company firmographics, key health insurance purchase criteria, and level of responsibility toward providing employee health care benefits.
Key facts were provided in tabular format and major findings were delivered in power point presentation format
Results:
Research findings enabled client to better understand the market opportunity and need of the customer with respect to customized health benefit package
The key findings enabled the client to develop a Customized proposal to ensure products meet customers’ specific needs.
Insights based on a deeper understanding of each segment were also helpful for client in realizing some key deficiencies related to customer service training, and new product offerings
Comments