“Consumers’ satisfaction with health insurance is hitting a 10-year low,” carriers need to quickly understand and address their customer experience challenges.
Based on our experience, we see a tremendous opportunity for carriers to address and turn around their customer’s satisfaction by focusing directly on the customer experience. With an industry specific CRM, carriers have access to a real-time view into the member experience. Allowing them to tailor products to a specific data segment or target sales and marketing programs based on zip codes. Providing carriers with valuable insights into optimization opportunities to improve member satisfaction and increase customer retention.
If dealing with your health insurance company leaves you with a giant headache, you’re far from alone.
This year, consumers’ satisfaction with health insurance providers hit a 10-year low to a score of 69 out of 100, according to a report from the American Customer Satisfaction Index released Tuesday, in which more than 9,200 randomly selected consumers were surveyed. Now, out of the nearly 43 industries the ACSI ranks, health insurance companies rank in the bottom five (even the airlines get higher marks from customers). “There’s lots of frustration on the part of consumers,” says ACSI managing director David VanAmburg.
While it might be tempting to blame the Affordable Care Act, as it led to an influx of new consumers (and thus some ensuing headaches and slowdowns), that may not be what is primarily driving the increased dissatisfaction. Indeed, people who have individual policies tend to be more satisfied with their health insurance companies (ranking them a 71 out of 100) than those who have group policies (68 out of 100), which are typically provided through their employers. VanAmburg says this is largely a function of those consumers feeling they have more choice in a plan.
Instead, some of the main issues driving this rising annoyance at health insurance companies are high premiums, deductibles and copays, as well as slow claims processing, the report reveals. A report released this year by the Kaiser Family Foundation found that average premiums for employer-sponsored plans increased 4% in just the past year (meanwhile, wages increased by just 1.9%) to $6,251 for single coverage and $17,545 for family coverage. For their part, workers pay an average of 18% of the premium for single coverage and 29% for family coverage, though this varies widely.
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