In recent years, the online experience presented during open enrollment was driven largely by new and increasingly complex regulations. Given the lack of clarity and eleventh-hour changes, insurers had to focus on compliance, rather than the consumer. This year there is less confusion around regulations, offering insurance companies an opportunity to turn their attention to key projects focused on customers. With less than 5 months to go, this is the critical time for companies to kick off their consumer projects, making sure they are clearly defined and developed, and able to pass any testing and regulatory review processes.
So what should insurers be focused on, and how do they ensure that projects get completed in time for open enrollment?
A customer’s insurance needs change throughout their life: two of the most impactful things you can do to offer value are demonstrating that you know who they are (and what may have changed lately) and guiding them to the information that is important to them.
Knowing your customers is about more than just understanding their age, gender, and drivers – it means knowing what they do (and don’t do) on your site, how much time they spend looking at information, where in the purchase lifecycle they drop out, and more. To start, it is important to review last year’s data, and identify and understand the gaps. Right now is the time to start defining the additional information needed to answer any open questions.
To help guide you in that process, over the next few weeks we’ll take a closer look at analytics, and the role data plays in understanding who your consumers are. Collecting the right data at the right time, and using that data to make real-time decisions that proactively address consumers’ needs can be a differentiating factor in an increasingly commoditized industry.
While knowing your audience is one part of the equation, you must use this knowledge to offer consumers the information they’re looking for – without having to filter through irrelevant clutter. One way to solve this is with microsites. Because health insurance companies serve a large and diverse audience, a singular message cannot possible speak to all users. Microsites can help you focus your message to a specific demographic, so they can get their questions answered quickly and clearly. Clearly defining your microsite plans now, and securing their spot on your current roadmap, can help ensure a quicker sales cycle during open enrollment, while building loyalty with the consumer.
Open enrollment begins November 1st – what are you doing to prepare?