DIGITAL COULD STOP YOUNG AUSTRALIANS WALKING AWAY FROM PRIVATE HEALTH INSURANCE
|
|
- Simon Murphy
- 5 years ago
- Views:
Transcription
1 DIGITAL COULD STOP YOUNG AUSTRALIANS WALKING AWAY FROM PRIVATE HEALTH INSURANCE
2 Accenture research has highlighted seven Australian personas providing insight into attitudes and behaviours towards private health insurance. Ten percent of the Australian private healthcare insurance market, representing AUD$2b is churning annually. Seventy-seven percent of this churn comes from Hip Pip and Busy Lizzy two personas under 30 years of age with a constant attraction to digital services. Accenture primary research indicates a core determinant of switching behaviour (apart from policy costs), is the accessibility of digital offerings made available by competing healthcare insurance organisations. The Accenture Person-Centred Segmentation Study sought the views of over 2,000 Australian respondents. The study analysed demographic, population measures and confirmed that they were poor indicators of health insurance customer preferences. Through multivariate analysis, the attitudinal survey of Australian consumers enabled researchers to contrast different personas and their attitudes toward private health insurance. Australian health insurers seek to attract and retain younger members with lower health risks. Through the principles of community rating and risk equalisation, these younger members offset the risks of older and more comorbid members, so that actuarial models can be applied to the book of business to set fair premiums for health insurance products that protect members from health costs and support the health fund s financial sustainability. In a recent quarterly report analysing the private health insurance sector statistics, APRA, the Australian Prudential Regulatory Authority stated, with respect to private health insurance membership: the largest decrease is in people aged between followed by years of age. This ongoing decrease equates to 35,000 fewer in the insured population per quarter of which 27,500 were aged (77 percent). Furthermore, other specialist service providers who have analysed health insurance statistics have confirmed conservatively that 10 percent of policyholders switch and that lapse rates are increasing with, an increasing propensity to lapse. 1 The Accenture attitudinal survey identified two personas of interest from the cluster analysis. Hip Pip and Busy Lizzy represent populations closely mapped to the Gen X and Gen Y groups and provide a series of clues informing how best to engage and retain them as members. 2
3 Ten drivers of digital health insurance behaviours Australian private health insurers face severe levels of customer churn. Thriving in such a market requires a close look at both member behaviour and retention strategy. Accenture primary research indicates that understanding how best to attract and retain private health insurance members is a function of insight into seven personas (clustered viewpoints). These personas are, in turn, driven by 10 fundamental behavioural drivers Costs Primary health data-sharing Technology attitude and aptitude General privacy attitude and aptitude GP engagement Government spending Active involvement Politics and regulation Access to data Equality and openness to change Through multi-variate analysis, the attitudinal survey of Australian consumers enabled researchers to contrast different personas and their attitudes toward private health insurance. 3
4 How to retain Hip Pip and Busy Lizzy Hip Pip and Busy Lizzy have elevated expectations in all aspects of their lives. Social media, technology and digital offerings from banks and platforms (Netflix, Uber, Amazon etc.) have all created a mushrooming expectation of digital experiences which now extends to the realms of health insurance. Innovative health insurers that can meet and exceed the imagination of this segment will be strongly positioned to retain and attract new members. Person-centric care Disappointingly, 56 percent of Hip Pip and Busy Lizzy have the perception that their GPs don t want to hear their health questions as opposed to 22 percent in the other five personas. Similar concerns may exist with medical specialist appointments. Capabilities such as consumer reviews may help address this poor experience. Such an approach provides a more meaningful, valued service resulting in improved quality of care for these members, and ultimately decreases the likelihood and cost of seeking multiple medical opinions or getting sub-optimal treatments. 56% versus 22% Omni engagement channels Digital services offered by health insurance organisations could provide different models of care that would provide a competitive advantage to keep and entice Hip Pip and Busy Lizzy. With busy lives that are digitally integrated, digital healthcare services are integral to the expectations of Hip Pip and Busy Lizzy. For example, 71 percent of these two personas are willing to use text chat services with their doctors and private hospitals as opposed to 42 percent in the other five personas. 71% versus 42% 4
5 Artificial Intelligence and automation Sixty-seven percent of Hip Pip and Busy Lizzy feel positive about technology replacing traditional healthcare services compared to 30 percent in the other five personas. Furthermore, 69 percent of Hip Pip and Busy Lizzy would use an AI virtual health assistant for personalised advice based on their own medical record information contrasting sharply with 35 percent for the other personas. This means insurers could provide services such as virtual customer service agents that respond to member enquiries and direct members to specific health services based on their previous interactions and claims history. 67% versus 30% Virtual health checks Finally, 73 percent of Hip Pip and Busy Lizzy would have more frequent health checks if they had the time as opposed to 31 percent for the other personas. More than any other groups, millennials are living a fast-paced life. This could be an opportunity for health funds to incorporate virtual health consultations (e.g. telehealth, virtual reality and vital signs monitoring) through digital channels to ensure members are accessing the care they need proactively before health and wellness problems develop. Insurers could champion this offering to attract and retain Hip Pip and Busy Lizzy members in the knowledge that they are decreasing the risk of their members health concerns while making better use of GP and medical specialist services that are funded by Medicare and out of pocket fees. 73% versus 31% So what? Health funds are already using advanced analytic techniques to gather member insights. A person-centric approach to member segmentation coupled with compelling digital services could be the key to unlock competitive differentiation and grow membership. The decline in younger members, such as Hip Pip and Busy Lizzy, has constrained health funds ability to maintain a sustainable book of business while increasing the proportion of members that are more likely to make claims. Regulatory changes to encourage younger members to pay for private health insurance confirm the size and seriousness of the problem. Private health insurers need to adopt an innovative approach to target the Gen X and Y segments by moving beyond products and tailoring member experiences that hold appeal, even with rapidly changing expectations. By weaving in advanced analytics, omni-channel engagement platforms, technologically innovative services and a service co-design approach, insurers can provide truly differentiated offerings from their competitors. Digitally savvy funds are likely to stay competitive in an increasingly consolidated market. 5
6 Seven Australian personas Busy Lizzy GROUP 1: Age and gender: Younger; gender neutral Signature trait: Most are workers or full-time parents/carers Summary: Open to change and technology, but more reluctant to share data; for the majority, treatment and service choices are driven by financial costs OK Joe GROUP 2: Age and gender: Average age; more male Signature trait: Most are socially conservative, not supportive of healthcare change Summary: Disengaged over privacy issues; no financial/payment model concerns; little interest in consumer-directed care Fit Fu GROUP 3: Age and gender: Older; more male Signature trait: Most are healthy seniors moving with the times Summary: Highly confident with technology, open to change and alert to privacy issues but relatively relaxed about sharing information Struggling Sam GROUP 4: Age and gender: Older; gender neutral Signature trait: Most are less healthy and have more financial issues Summary: Traditionalist; less open to technology; concerned about privacy and reluctant to share information; financial concerns drive many choices 6
7 Hip Pip GROUP 5: Age and gender: Younger; more female Signature trait: Most are busy, healthy and quick to try new things Summary: Open to technology and change; relaxed about data-sharing; strong desire for more consumer-directed care; financially constrained Wary Mary GROUP 6: Age and gender: Average age; more female Signature trait: Most are very anxious about privacy but are still open to change Summary: Confident with technology but not positive about technological substitutes; highly concerned about privacy; reluctant to share information Vintage Viv GROUP 7: Age and gender: Older; gender neutral Signature trait: Most do not like technology, self-service or anything new Summary: Generally resistant to change, but relaxed about data-sharing and privacy; not interested in consumer-directed care; not financially driven 7
8 REFERENCES Ian Manovel Innovation Principal Henry Ma Technology Strategy Manager Kevin Cho Business Strategy Consultant 1. Accenture Australia, Re-imagining Australian Digital Healthcare 2. Australian Prudential Regulatory Authority (APRA), Private Health Insurance Quarterly Statistics 3. Morgan Stanley, Private Health Insurance Report 4. Energesse, Future Solutions in Customer Experience for Health Insurers ABOUT ACCENTURE Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the world s largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 425,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at ABOUT ACCENTURE INSIGHT DRIVEN HEALTH Insight-driven health is the foundation of more effective, efficient and affordable healthcare. That s why the world s leading healthcare payers, providers, and public health entities choose Accenture for a wide range of insightdriven health services that help them use knowledge in new ways from the back office to the doctor s office. Our committed professionals combine realworld experience, business and clinical insights and innovative technologies to deliver the power of insight driven health. Visit us at Copyright 2018 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture
United States: Evolving toward Next-Level Taxpayer Service. Accenture Digital Taxpayers Research and Insights
United States: Evolving toward Next-Level Taxpayer Service Accenture Digital Taxpayers Research and Insights In its second year, Accenture s Digital Taxpayers Research focuses on how revenue agencies are
More informationDigital disruption in Nordic Wealth Management
Digital disruption in Nordic Wealth Management APPENDIX THIS PAPER PRESENTS THE DETAILED RESULTS OF THE RESEARCH CONDUCTED BY ACCENTURE STRATEGY IN THE NORDICS AS A COMPLEMENTARY APPENDIX FOR THE PUBLISHED
More informationTRANSFORMING INSURANCE THROUGH INNOVATION. Global Best Practices Reveal New Models and Approaches
TRANSFORMING INSURANCE THROUGH INNOVATION Global Best Practices Reveal New Models and Approaches INTRODUCTION Large traditional insurers and dynamic start-ups alike are turning to artificial intelligence
More informationImplementing behavioral analytics to drive customer value: Insurers cannot afford to wait.
Implementing behavioral analytics to drive customer value: Insurers cannot afford to wait. 2 A case for behavioral analytics and automated response imagine Two customers phone into your call center. One
More informationThe agent of the future
The of the future Korea EY survey highlights need for customer-centric innovation and personalized sales support The of the future is emerging as a proactive advisor in a digital world. ii The of the future
More informationMeeting the retirement challenge New approaches and solutions for the financial services industry
Meeting the retirement challenge New approaches and solutions for the financial services industry Sam Friedman Research Leader, Insurance Deloitte Center for Financial Services Val Srinivas Research Leader,
More informationU.S. Life Insurance. Getting to 2020: Strategies for Profitable Growth
U.S. Life Insurance Getting to 2020: Strategies for Profitable Growth The U.S. life insurance industry has been slow to recover from the economic crisis and returns in this large, mature industry have
More informationPresentation to UBS Australasia Conference November Attached presentation delivered by nib at the UBS Australasia Conference (8 November 2016).
nib holdings limited Head Office 22 Honeysuckle Drive Newcastle NSW 2300 abn 51 125 633 856 t 13 14 63 f 02 4925 1999 e nib@nib.com.au w nib.com.au 8 November 2016 The Manager Company Announcements Australia
More informationThe challenge of making life insurance ageless. Selling the prospect of death to invincible year olds
The challenge of making life insurance ageless Selling the prospect of death to invincible 18-24 year olds Foreword Time for a new perspective How often do organizations give their youngest people the
More informationUnderstanding and Achieving Participant Financial Wellness
Understanding and Achieving Participant Financial Wellness Insights from our research From August 25, 2017 to January 31, 2018, the companies of OneAmerica fielded an online survey to retirement plan participants
More informationLIFE INSURANCE: THE CASE FOR CHANGE
LIFE INSURANCE: THE CASE FOR CHANGE HOW DO WE MAKE LIFE INSURANCE SUSTAINABLE AND FIT FOR PURPOSE IN A WORLD OF TECHNOLOGICAL CHANGE AND EVOLVING RISKS? WHAT DOES THE FUTURE OF LIFE INSURANCE LOOK LIKE?
More informationGlobal Consumer Insurance Survey 2012 Time for insurers to rethink their relationships Trevor Rorbye, May 2013
Global Consumer Insurance Survey 2012 Time for insurers to rethink their relationships Trevor Rorbye, May 2013!@# Agenda The current environment - Time for insurers to rethink their relationships Why?
More informationINFObrief Deloitte 2012 Survey of Health Care Consumers Health plans challenge; delivering on consumer preference
INFObrief Deloitte 2012 Survey of Health Care Consumers Health plans challenge; delivering on consumer preference Highlights: Consumers move toward control Health care consumers are ready to shop for insurance
More informationAccenture Business Journal for India Digital Insurance: How new technologies are changing the rules of the game for a traditional industry
Accenture Business Journal for India Digital Insurance: How new technologies are changing the rules of the game for a traditional industry The traditional business model for insurance, though still a reliable
More informationUnderstanding the positive investor
Understanding the positive investor A research study revealing the level of interest in positive investment in the United Kingdom Understanding the positive investor 02 Contents About this report Executive
More informationMortgage lenders are moving as quickly as possible toward the digital mortgage.
Mortgage lenders are moving as quickly as possible toward the digital mortgage. While each lender defines this product slightly differently, the consumer sees it as an overdue evolution in home finance.
More informationTURNING EMPLOYEES INTO LIFETIME SAVERS
TURNING EMPLOYEES INTO LIFETIME SAVERS Prudential Retirement Engagement Research Series TURNING EMPLOYEeS INTO LIFETIME SAVERS Key Insights A new program of research from Prudential on Americans motivation
More informationTHE INSURANCE C-SUITE NEEDS A MAKEOVER MICHAEL REILLY RAVI MALHOTRA HEATHER SULLIVAN
THE INSURANCE C-SUITE NEEDS A MAKEOVER MICHAEL REILLY RAVI MALHOTRA HEATHER SULLIVAN Make no mistake, this is a disruptive time for the insurance industry. Accenture research finds that over 80 percent
More informationA growing interest in employee financial well-being in India
A growing interest in employee financial well-being in India Insights from the Global Benefits Attitudes Survey 2016 Indian employees satisfaction with their financial state today belies financial worries
More informationDirect Mortgage client acquisition in an omnichannel
Direct Mortgage client acquisition in an omnichannel world August 2015 Joshua Walther Head of Direct Distribution, ING DIRECT Australia ING DIRECT Australia digital and broker are our primary mortgage
More informationDefining your digital strategy in a disruptive world
REPORT Defining your digital strategy in a disruptive world UK Insurance Underwriting Digitisation Study 2017 MAY 2017 Introduction In January 2017, LexisNexis Risk Solutions released a comprehensive study
More informationIntroduction. Salesforce Research 2017 Connected Investor Report / 2
Introduction To explore how Americans manage their money, choose and communicate with financial advisors as well as measure consumer sentiment and trust in financial institutions Salesforce conducted its
More information2016 Workplace Benefits Report
RETIREMENT & BENEFIT PLAN SERVICES 2016 Workplace Benefits Report Empowering and encouraging employees to plan for their financial futures For plan sponsor use only. Empowering financial wellness, one
More informationThe impact of changes in the participation rate within the Australian PHI market
The impact of changes in the participation rate within the Australian PHI market Prepared by Andrew Gower/Peter Grigaliunas Presented to the Actuaries Institute Actuaries Summit 17 19 May 2015 Melbourne
More informationP r e p a r i n g f o r !
P r e p a r i n g f o r 2 0 1 4! Findings from Research with Lower-Income Adults in Three States Conducted by Lake Research Partners June 2012 CONTENTS! Intro & Methods Takeaways Insights from Focus Groups
More informationWhat To Digitize First, According To Recent Homebuyers
What To Digitize First, According To Recent Homebuyers National Housing Survey Topic Analysis Q1 2018 2018 Fannie Mae. Trademarks of Fannie Mae. 1 Borrowers Want Less Paperwork! Recent homebuyers are most
More informationIT TAKES THREE TO TANGO
IT TAKES THREE TO TANGO Structural Collaboration Between Carriers, Providers and Consumers A HEALTHSCAPE ADVISORS EXECUTIVE BRIEFING This HealthScape Advisors Executive Brief discusses a more comprehensive
More informationIssue 2 Understanding differences between age diverse SMEs
Vero SME Insurance Index 2017 Issue 2 Understanding differences between age diverse SMEs Customer insights drive new opportunities Vero SME Insurance Index 2017 Issue 2 1 Introduction Issue 1 of the Vero
More informationWhat really matters to women investors
JANUARY 2014 What really matters to women investors Exploring advisor relationships with and the Silent Generation. INVESTED. TOGETHER. Certainly a great deal has been written about women and investing
More informationBuilding the Healthcare System of the Future O R A C L E W H I T E P A P E R F E B R U A R Y
Building the Healthcare System of the Future O R A C L E W H I T E P A P E R F E B R U A R Y 2 0 1 7 Introduction Healthcare in the United States is changing rapidly. An aging population has increased
More informationInsurance strategy: Evolving into a digital underwriter
Insurance strategy: Evolving into a digital underwriter New attributes needed to become a Digital Underwriting leader It is not the strongest of the species that survives, nor the most intelligent. It
More informationYOUBIQUITY FINANCE GENERAL INSURANCE SUMMARY.
YOUBIQUITY FINANCE 2016 - GENERAL INSURANCE SUMMARY. Consumers want insurance providers to make digital self-service easier, using support technologies that build customer confidence and better relationships.
More information16 th Annual Transamerica Retirement Survey Influences of Generation on Retirement Readiness
6 th Annual Transamerica Retirement Survey Influences of Generation on Retirement Readiness August 0 TCRS 0--0 Transamerica Institute, 0 Welcome to the 6 th Annual Transamerica Retirement Survey Welcome
More information2 UNLOCK TRAPPED VALUE WITH BLOCKCHAIN: TRANSFORMATIVE POWER FOR BUSINESS OPERATIONS
There s good news for companies seeking ways to use digital technologies to improve their value chains. Blockchain is emerging as a powerful tool for dramatically restructuring how companies work together
More informationHealthcare and Health Insurance Choices: How Consumers Decide
Healthcare and Health Insurance Choices: How Consumers Decide CONSUMER SURVEY FALL 2016 Despite the growing importance of healthcare consumerism, relatively little is known about consumer attitudes and
More informationSixth Annual Nationwide TCHS Consumers Healthcare Survey: Stressed Out: Americans and Healthcare
Sixth Annual Nationwide TCHS Consumers Healthcare Survey: Stressed Out: Americans and Healthcare October 2018 Table of Contents About the Transamerica Center for Health Studies Page 3 About the Survey
More informationVoice of the customer Time for insurers to rethink their relationships
Americas Voice of the customer Time for insurers to rethink their relationships Global Consumer Insurance Survey 2012 Contents Executive summary 2 01 Life and annuity (including investments) 5 Our survey
More informationImprove business results by first improving your vendor selection
Improve business results by first improving your vendor selection Executive summary Don t let your legacy be your legacy systems. For years, life insurance companies have been unable to leverage many
More informationFROM 12 TO 21: OUR WAY FORWARD
FROM 12 TO 21: OUR WAY FORWARD MESSAGE FROM THE BOARD Weldon Cowan, chair of the board of directors The board of directors shares the corporation s excitement about the next phase of the From 12 to 21
More informationREQUEST FOR INPUT ON WORK REGARDING THE TAX CHALLENGES OF THE DIGITALISED ECONOMY
OECD c/o Mr. David Bradburry 2 Rue André Pascal 75775 Paris France Author Phone Telefax E-Mail Date Pe/JT E 09/17 +49 30 278 76 310 +49 30 278 76 799 trommer@dstv.de 18.10.2071 REQUEST FOR INPUT ON WORK
More informationTelematics Usage- Based Insurance
Telematics Usage- Based Insurance Smart solutions for the motor insurance industry m2m.vodafone.com Vodafone Power to you Telematics Usage-Based Insurance Usage-based insurance Consumers want lower premiums
More informationFour capabilities insurers need on the journey to digital mastery and high performance
The Digital Insurer: What does it take to be a Digital Insurer? Four capabilities insurers need on the journey to digital mastery and high performance The way in which consumers all over the world buy
More informationBupa Future Survey Series
Bupa Future Survey Series March 2017 The future of private health insurance: Why insurers need to play a leading role in the innovation and transformation of Australia's health and care system The examines
More information36 th Annual J.P. Morgan Healthcare Conference January 9, Bruce D. Broussard President & CEO
36 th Annual J.P. Morgan Healthcare Conference January 9, 2018 Bruce D. Broussard President & CEO 0 Cautionary statement This presentation includes forward-looking statements within the meaning of the
More informationAustralia and New Zealand Insurers Go Beyond the Usual
IDC InfoBrief NOVEMBER 2017 T H E F U T U R E I S D I G I TA L Australia and New Zealand Insurers Go Beyond the Usual Empowered Customers Omnichannel User Experience Platformdriven Ecosystem Anytime, Anywhere
More informationRetirement Plans for the Millennial Workforce
Retirement Plans for the Millennial Workforce New values need new plan designs. Retirement Plans for the Millennial Workforce Baby Boomers, those born in the period 1946 through 1964, built their careers
More informationMACHINE LEARNING IN INSURANCE
MACHINE LEARNING IN INSURANCE Enabling insurers to become AI-driven enterprises powered by automated machine learning FS PERSPECTIVES CONTENT 2 DATA JOURNEY SO FAR 3 KEY FACTORS DRIVING MACHINE LEARNING
More informationDirect to Consumers Challenges in the Asian Market. Adrian Cheung 8/10/2014
Direct to Consumers Challenges in the Asian Market Adrian Cheung 8/10/2014 Agenda 1. Overview of motor insurance market and distribution... 3 2. Customers.... 8 3. Products/pricing..15 2 Agenda 1. Overview
More informationAnd the Survey Says: We Want a Positive Clinical AND Financial Experience
2016 CONSUMER SURVEY WHITE PAPER And the Survey Says: We Want a Positive Clinical AND Financial Experience The Changing Financial Relationship Between Hospitals and Patients And the Survey Says: We Want
More informationDigital Trends in Retirement: What They Mean for Investors and Plan Sponsors
Digital Trends in Retirement: What They Mean for Investors and Plan Sponsors The digital revolution is fundamentally altering how individuals plan and manage their retirement investments. While some are
More informationImplementing a gamification strategy. The importance of winning the game in insurance
Implementing a gamification strategy The importance of winning the game in insurance 1 Enhancing customer engagement through gamification This paper: Defines gamification for insurers what it is Explores
More informationThe Digital Investor Patterns in digital adoption
The Digital Investor Patterns in digital adoption Vanguard Research July 2017 More than ever, the financial services industry is engaging clients through the digital realm. Entire suites of financial solutions,
More informationA boardroom perspective on digital transformation and emerging technologies. #FutureOfTax
A boardroom perspective on digital transformation and emerging technologies #FutureOfTax Speaker Shamus Rae Partner, Head of Digital Disruption 2018 KPMG LLP, a UK limited liability partnership and a member
More informationRaboDirect Financial Health Barometer. A Five-Year Review
RaboDirect Financial Health Barometer A Five-Year Review About the white paper RaboDirect s annual Financial Health Barometer delivers a comprehensive overview of Aussies attitudes towards their financial
More information2010 National Auto Insurance Study SM
Keeping Millennials for Life: Tailoring Service to Meet the Unique Needs of Generation Y Customers July 2010 Insurance Practice A Global Marketing Information Company businesscenter.jdpower.com 37309844358/080210
More informationNext-generation front-office transformation services for insurers
IBM Global Business Services White Paper Insurance Next-generation front-office transformation services for insurers 2 Next-generation front-office transformation services for insurers Property and casualty
More informationTD Ameritrade Institutional 2019 RIA Sentiment Survey
TD Ameritrade Institutional 2019 RIA Sentiment Survey January 8, 2019 This material is designed for an investment professional audience, primarily Registered Investment Advisors (RIAs). TD Ameritrade Institutional,
More informationTelematics Usage- Based Insurance
Telematics Usage- Based Insurance Smart solutions for the motor insurance industry vodafone.com/iot Vodafone Power to you Telematics Usage-Based Insurance Usage-based insurance Consumers want lower premiums
More informationInsurance Inside Super. A detailed report into members awareness, attitudes and engagement with Insurance Inside Super.
Insurance Inside Super A detailed report into members awareness, attitudes and engagement with Insurance Inside Super. Insurance Inside Super Research Report A word from our CEO I am very pleased to present
More informationRetirement Readiness: Bridging the Gap Across Generations
Consulting/Outsourcing Retirement Retirement Readiness: Bridging the Gap Across s.. December 2010 Retirement Readiness: Bridging the Gap Across s Over the past decade, the rise in defined contribution
More informationRunning Your Business for Growth
Accenture Insurance Running Your Business for Growth Could Your Operating Model Be Standing in the Way? 1 95 percent of senior executives are not certain their companies have the right operating model
More informationProperty & Casualty Carrier Digital Technologies: Measurement to Drive Profitability
Issue Number: 1 Issue Date: August 1, 2018 Property & Casualty Carrier Digital Technologies: Measurement to Drive Profitability The Growing Importance of Revenue Justification By: David Mondgock As property
More informationDiscovery for Corporates 2018 MAKE YOUR EMPLOYEES HEALTHIER
Discovery for Corporates 2018 MAKE YOUR EMPLOYEES HEALTHIER This brochure is a summary of select product features from the Discovery Group product houses as well as healthcare products administered by
More informationCommittee on Small Business United States Senate. Hearing on. Small Business and Health Insurance. Testimony Submitted by
T - 137 Committee on Small Business United States Senate Hearing on Small Business and Health Insurance Testimony Submitted by Paul Fronstin Employee Benefit Research Institute Washington, DC Feb. 5, 2003
More informationMeans Testing the Private Health Insurance Rebate. The Impact on Private Health Insurance Membership in Australia
Means Testing the Private Health Insurance Rebate The Impact on Private Health Insurance Membership in Australia Report on the 2011 ANOP Survey for the AHIA Prepared for: The Australian Health Insurance
More informationAdvice Gap Analysis: Report to FCA
Advice Gap Analysis: Report to FCA 5 December 2014 Contents Page Executive summary 3 Approach 10 Results, sensitivities and discussion - demand 33 Results, sensitivities and discussion - supply 38 Reliances
More informationThe Dialogue The Future of Life Insurance
The Dialogue Leading the conversation The Future of Life Insurance Ilan Leas The Dialogue is a series of About the author papers written by actuaries and published by the Actuaries Institute. The papers
More informationWhat our data tells us about locum doctors
What our data tells us about locum doctors Executive Summary Our data shows that a growing proportion of doctors are choosing to undertake work as locums. From 2013 to 2017, there was an increase of almost
More informationRise of the Money Robots: Kiwis attitudes to robo-advice. New Zealand Robo-Advice Report
Rise of the Money Robots: Kiwis attitudes to robo-advice New Zealand Robo-Advice Report NOVEMBER 2016 TABLE OF CONTENTS KEY INSIGHTS 2 INTRODUCTION 3 SURVEY FINDINGS 4 ENGAGEMENT WITH RETIREMENT FINANCES
More informationBanking Reform Program. Report on Consumer Study Wave Two
Banking Reform Program Report on Consumer Study Wave Two Banks success is inextricably tied to the economy. When Australia does well, banks do well. Australia s banks are key to Australia s economic success.
More informationAccount consolidation in super five things you should think about
Account consolidation in super five things you should think about A review of the impact of account consolidation on the superannuation sector and some suggested ways forward AUTHORS: PAUL DIVINY, PHIL
More informationBe Digital. A R115.2 Billion Opportunity for South Africa s Short-Term Insurance Industry
Be Digital A R115.2 Billion Opportunity for South Africa s Short-Term Insurance Industry Table of Contents Executive Summary Sizing the Digital Opportunity Is The Market Ready For Digital? Winning Propositions
More informationBased on the audacious premise that a lot more can be done with a lot less.
A lot less of IT involvement, minimal processes, greater attention to high-value tasks, enhanced decision-making all resulting in better underwriting. Based on the audacious premise that a lot more can
More informationPeople First: The Primacy of People in the Age of Digital Insurance
Accenture Technology Vision for Insurance 2016 People First: The Primacy of People in the Age of Digital Insurance Executive Summary Winning insurers in the digital age will do much more than tick off
More informationPushing the boundaries of data in super
Pushing the boundaries of data in super How big data can help us look after our members today and into the future Lara Bourguignon Managing Director, Plum Financial Services and GM, MLC Group Insurance
More informationThe High Performance Insurer. Profitable Growth in the New Reality
The High Performance Insurer Profitable Growth in the New Reality Planning for a more profitable future As insurers priorities shift from weathering the storm to capitalizing on the opportunities of the
More informationoverview WHO IS CLAIM360? OUR INDUSTRY LEADING TECHNOLOGY
A new way of doing business Combining the best of the loss adjusting model with the best of the building panel overview WHO IS CLAIM360? Claim360 is a joint venture company formed by Cerno and Claim Central
More informationDigital insurance: How to compete in the new digital economy
Digital insurance: How to compete in the new digital economy The traditional insurance company is set up to best serve a type of customer that, in the very near future, may no longer exist. Demographic
More informationAccelerating the Shift to Digital
Fourth Quarter 2017 Earnings Supplement Accelerating the Shift to Digital February 7, 2018 2017 Cognizant Forward Looking Statements and Non-GAAP Financial Measures This earnings supplement includes statements
More informationHelping Clients Win with Digital
First Quarter 2018 Earnings Supplement Helping Clients Win with Digital May 7, 2018 2017 Cognizant Forward Looking Statements and Non-GAAP Financial Measures This earnings supplement includes statements
More informationMary Flynn. UnitedHealthcare VP, Dental Market Solutions
Mary Flynn UnitedHealthcare VP, Dental Market Solutions Business Economy Politics Culture Thousands of Persons Environment Employers continue to find that the overall benefit portfolio is central to worker
More informationCredit Union Lending Strategies and Trends
Credit Union Lending Strategies and Trends Table of Contents Lending Strategies and Trends Executive Summary...3 Introduction...5 Section One: Remote Lending...8 Indirect Lending...8 Internet Lending...9
More informationSESSIONS MASTERCLASS A - 29/01/2018. Healthcare Insurance Forum
MASTERCLASS A - 29/01/2018 Building a Winning Digital Strategy for your Organisation 08:00-12:00 The world is increasingly connected through technology changing the way people think and the way business
More informationCompetition, compliance & cost continue to challenge the c-suite of Australian insurers
Competition, compliance & cost continue to challenge the c-suite of Australian insurers The Australian insurance market is reasonably well capitalised and profitable, but it remains highly dynamic. C-suites
More informationLending systems - future perfect?
WHITE PAPER Lending systems - future perfect? Executive summary Tighter regulation under the mortgage market review (MMR) introduced in April 2014 has driven borrowers into the arms of brokers intermediaries
More informationMACRAnomics. Patient-Level Economics and Strategic Implications for Providers. Presented to: NW Ohio HFMA October 20, 2016
MACRAnomics Patient-Level Economics and Strategic Implications for Providers Presented to: NW Ohio HFMA October 20, 2016 Property of HealthScape Advisors Strictly Confidential 2 MACRAnomics: Objectives
More informationFuture Trends 2017: The Shift Gains Momentum
Future Trends 2017: The Shift Gains Momentum IASA Spring Meeting April 2017 1 People Market Trend: Pressure on insurance industry driving new expectations, innovations and competition Changing customer
More informationAttitudes towards New Zealand s financial markets. Investor confidence research May 2018
Attitudes towards New Zealand s financial markets Investor confidence research May 2018 Contents C3 Background C4 Summary C7 Findings C7 Confidence in New Zealand s financial markets C19 Investment types
More informationCloserLook Investment Management Outlook
CloserLook 2017 Investment Management Outlook Several major trends will likely impact the investment management industry in the coming year. These include shifts in buyer behavior as the Millennial generation
More informationNEW ZEALAND PATHOLOGIST WORKFORCE STUDY 2018
New Zealand Pathologist Workforce Study 2018 NEW ZEALAND PATHOLOGIST WORKFORCE STUDY 2018 WORKFORCE PROFILE AND TRENDS The New Zealand Pathologist workforce has shown significant growth between 2011 and
More informationWelcome to Boyden s annual review of the Interim Management market in the UK
2011/2012 Introduction Welcome to Boyden s annual review of the Interim Management market in the UK Boyden has been surveying the Interim Management market since the 1990 s, providing an insight into market
More informationAdapting to the omnichannel world. How life insurers can meet rising consumer expectations through an enhanced service experience
Adapting to the omnichannel world How life insurers can meet rising consumer expectations through an enhanced service experience Adapting to the omnichannel world 1 Executive summary Life insurance has
More informationProblems with Current Health Plans
Problems with Current Health Plans Poor Integration, Coordination and Collaboration - Current plans offer limited coordination between the health plan, Providers, and the Members, as well as limited mobile
More informationPOLICY INSIGHT. Inequality The hidden headwind for economic growth. How inequality slows growth
POLICY INSIGHT Inequality The hidden headwind for economic growth Economists often talk of headwinds the swirling oppositions and uncertainties that may hamper economic growth. We hear of the slowdown
More informationThe Coalition for Medicare Choices
The Coalition for Choices MEDICARE ADVANTAGE POLLING PRESENTATION December 2018 Key Points Seniors on are more satisfied (90%) than seniors on traditional (76%) with their healthcare coverage. 47% are
More informationRisk Equalisation Time to think differently? Jamie Reid, Matthew Crane, Kris McCullough & Ellen Bruce
Risk Equalisation Time to think differently? Jamie Reid, Matthew Crane, Kris McCullough & Ellen Bruce 2017 Finity Consulting Pty Limited Risk Equalisation Part I Executive Summary... 3 Part II Detailed
More informationMarket Insights. 1. Rice Warner Research Reports. Superannuation and Investments Reports. 1.1 Superannuation Market Projections
Market Insights 1. Rice Warner Research Reports This product list sets out a description for all regular research reports issued by Rice Warner. In addition, there are one-off reports such as, Member Direct
More informationWhite Paper. Quicker Claims Processing: Your Highest Priority Reaching the next level in customer satisfaction
White Paper Quicker Claims Processing: Your Highest Priority Reaching the next level in customer satisfaction Contents New Information Challenges Help Create a Perfect Storm 02 New Policyholder Expectations
More informationAustralian major banks full year results 2017
November 2017 Banking results Australian major banks full year results 2017 Solid performance. But who will win the execution race? Overview ANZ, NAB and Westpac s full year reporting periods ended on
More informationSelection of High-Deductible Health Plans: Attributes Influencing Likelihood and Implications for Consumer-Driven Approaches
Selection of High-Deductible Health Plans: Attributes Influencing Likelihood and Implications for Consumer-Driven Approaches Wendy D. Lynch, Ph.D. Harold H. Gardner, M.D. Nathan L. Kleinman, Ph.D. Health
More information