The Importance of Health Insurance Branding in the ACA Era Part 2
By Martha C. Rivera, Director of Strategy and Insights with the support of Nicha Ruchirawat, Junior Executive
Employers are not going to be health insurance companies’ main targets anymore for marketing and communications platforms. State health exchanges will provide consumers with freedom to independently browse the health plans that best fit their needs. This shifts the decision-making power regarding health insurance purchases into the hands of individual consumers. Thus, to remain competitive, branding efforts of health insurance companies should become more consumer-centric. Many health insurance companies are redefining their brands’ strategies to appeal to these individual consumers in order to retain market share.
“The shift from employer-focused branding to consumer-centric approach is only a small component in health insurers’ efforts to remain competitive,” said George L. San Jose, president and chief creative officer at The San Jose Group. “The more important aspect is ensuring communications that target the right segment. The majority of the uninsured comes from the multicultural segment. About 43% of the uninsured affected most directly say they are unaware of the reform. Therefore, it is essential to reach out to these consumers.”
Health-related companies can expect changes in insurer’s brand efforts to effectively engage individuals trough traditional and digital media channels. Health insurance companies are running out of time to gain the preference of insurance individual shoppers based on brand recognition, loyalty, and emotional connection.
