Insurance Industry Putting Premium on Apps

15 Dec 2014
by John Foley
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More and more people are using mobile devices to shop for health insurance these days.

In order to better meet the needs of these consumers, health insurance providers have developed mobile apps for a wide range of purposes.

These mobile apps provide a more convenient way for insurance buyers to obtain information about health insurance, compare policies and prices, and make purchases, and they have helped many insurance companies achieve better marketing and sales results.

Here is a look at how health insurers are using mobile apps as part of their business strategies….

Provide Information about Health Insurance

Health insurance is not something that is easy to understand.

Many people are confused about the coverage options that are available to them, the terms and costs of policies, deductibles, copayments and other aspects of health insurance.

This lack of understanding of health insurance terms and concepts can cause them to make the wrong purchasing decisions. In order to provide a more informed shopping experience for their customers, many health insurance providers have begun to use mobile apps to offer easy access to useful information about health insurance.

According to an article entitled “Choosing a Health Insurance Plan“, Americans are most concerned about quality when they are choosing a health insurance policy.

The information that is available on the mobile apps of health insurance companies can help consumers understand their health insurance needs and purchase high quality policies at reasonable prices.

Some insurers also use mobile apps to educate their customers about health care laws, such as Obamacare.

Promote Healthy Living

By encouraging their customers to live a healthy lifestyle, health insurance companies can minimize their risk of insurance claims and boost their profits significantly.

Customers can also benefit greatly from a healthy lifestyle, because it can make them less susceptible to illnesses and lower their insurance premiums.

A survey conducted by Axial Exchange showed that 75 million American adults accessed health information via mobile devices in 2012, up from about 60 million in the previous year. In an effort to reach out to these consumers, many health insurers are using mobile apps to promote healthy living.

These apps can help their users improve their health in a number of ways, including providing health information and tips, monitoring health and fitness progress, scheduling appointments with doctors, reminding them to take medications and others.

Monitor Consumer Behavior

In order to succeed in today’s consumer-oriented world, health insurance providers need to have a good understanding of their customers’ needs and preferences.

They can combine mobile apps with customer relationship management technology to gain a wide range of information about their customers, such as the types of information they are looking for, their preferred mediums of communication, their buying habits and others.

Such information enables them to make improvements to their products, marketing campaigns and customer service strategies to achieve greater customer satisfaction.

According to Grand View Research, the mobile healthcare market is expected to generate more than $49 billion in revenue by the year 2020.

Health insurance companies can get a head start in this fast-growing market by implementing mobile apps as soon as possible.


About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to Cloud computing.


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