Blog on Helath Insurane

7/30/2019 Blog on Helath Insurane

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Disruptive model in dental care

International medical policy (Bupa or cigna) expatriates

Super-top up plan

Co-Pay .. we are heading towards it

How to make claims?

Normal critical illness

Plans that can sell well online - term, critical, pa comparison of insurers (22 general insurancewebsites)

Reliance healthwise

Maxbupa

Apollo munich

Star health

Brokers v/s corporat agents

Bancassurance

Dental insurance

Limited benefit insurance

How to read policy wordings

8 things to know while purchasing a health insurance policy

Public disclosures

Awards

motor has devices for burgulary health too will use indicators for smoking, drinking, yearssince last visited hospital etc.

The growth of consumerism and impact on health insurancehttp://www.insuranceinsight.eu/insurance-insight/feature/2156362/series-emerging-markets-india-land-opportunity

zone L&T policy wording, PSU policies

health savings account


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aggregators assiters or competitor for insurance companies

LIC Jeevan Arogya

Market share of health insurance companies in India latest

Go for a top-up plan

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Pull the missing piece in a health insurance marketers playbook

Insurance is a push product the CEO of my previous company used to say. He was right tothe extent that it was the only exhibitable approach when the only distribution channel of theinsurer was telemarketing.

The push refers to spraying messages at audiences with an objective of creating brandawareness and for developing a desire to purchase among the public. The approach has largelybeen product specific which throws the primary benefit or details out a host of benefits that theinsurance policy offers. The media is highly utilized in the form of television, radio and printadvertising. Insurance companies like ICICI Lombard, Apollo Munich, Bharti AXA, Max Bupaand Star Health have used this approach to build their brand.

The pull approach takes a different approach from the product-led push strategy. Under a pullapproach, it is critical to tell your brand story the way you want it told. In other words, a pullapproach works best and is hugely profitable when the audience can answer two questionsrelated to the companya) who are they? and b) what makes them special?

Lets illustrate with an example. GEICO, the US auto insurance major, was a relatively obscureinsurance companies coming into the 1990s. In the mid-1990s, it embarked on an advertisingcampaign built around a single brand promise 15 Minutes Or Less Can Save You 15% Or MoreOn Car Insurance. This simple statement was constructed to define three parts of the GEICOstory

1. We are easy & convenient (15 minutes or less)2. We save you money (save you 15% or more)3. We deal in car insurance

The line between hard content and straight entertainment is softening. Communications (a.k.aadvertising) used to be laden with hardboiled features and benefits, humor used to beacceptable only for unserious products like chips, beer, pizza, and (somehow) FedEx spots. But

rarely elsewhere.

Today theres a blurring line between entertainment and news. Conservative companies need tounderstand that, says Rubel.

What holds it all together is a carefully thought out strategy for your narrative. You need to havea larger brand narrative than just about what youre trying to sell, counsels Rubel. You musthave a higher order thing to talk about.


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How do you find your narrative? Remember that your brand is really a community of people whoshare your brand values. They believe what you believe. And because they believe, advocatesshare a communal sense of belonging. Your brand becomes a source of content for thatcommunity (and for potential zealots wanting to join your community).

Its the consumers choice how and when to seek out a brand, says Joel Rubinson, former

head of research at the Advertising Research Foundation and president of Rubinson Partners,Inc. They do so only if you stand for values and lifestyle choices that transcend your [products]molecules. Starbucks isnt just coffee, its the third place. Whole Foods isnt just a grocery store,it is the supply point for a wellness lifestyle. Brand as portal is the heart of contemporarymarketing. If they lose this, they lose everything.

Marketers need to connect to values that transcend functional aspects (better, faster, cheaper,more powerful) and connect to the popular zeitgeist. This doesnt mean rushing to thelatest/greatest social media tweak. Your real social imprint creates a high order strategic linkbetween corporate values (and the products or services you have to offer) and socializedconsumer desires.

Quick examples. Beinggirl.com from Tampax answers the overarching challenges of a girlbecoming a woman. Weightwatchers is a community of strength to help manage weight and itsforum helps peers guide one another through this shared challenge. Threadless.com serves upcool crowd-generated designer streetwear with a heavy backdrop of social values.

The emotive touchpoints for these very different ideals are delivered through retail experiences,social media, websites, as well as blogs, tweets, and other output from their advocatesmediastream. The community of people who agree, admire and share those values turn to thebrand portal for ideas, positive reinforcement and to connect with others who share theirattitudes and beliefs.

Your brand becomes a portal that generates content that helps celebrate your ideal, and

becomes a destination. Those who share your values and belong to your brand community alsobuy products along the way.

And as Tampax and Weightwatchers suggest, you dont have to be a 21st century start-upcompany to participate.

Kraftrecipes.com is a longstanding concept that has moved successfully to social media. Theireponymous site enjoys over 12 million visits per month, and they report over 800,000 fans onFacebook (Kraft individual brands mentioned in recipes also have tens of millions of fans ontheir respective Facebook pages). The Kraftrecipes.com strategy has been to maintainplatforms and marketing channels they know drive engagement through content.Weve been creating amazing content for the last 15 years, says Jennifer Feeley, associate

directorof consumer relationship marketing at Kraft. It has always been deeply important for usto provide consumers with food solutions they feel good about. What is changing are thetechnologiesthe platforms, the greater connectivity and consumer empowerment.

Recipes inherently include Kraft brand names so they become a form of advertorialwhich hasalways been about content first, advertising second. Back in the stamp and postcard era,women (mostly) sent their family recipes to Kraft. Consumer recipes used to go into a file,laments Feeley. Now they can share their voice and give recommendations. We curate thatover earned and borrowed channels, and provide a consistent consumer experience. The key


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in content marketing is to understand what consumers truly want, what their needs are, anddeliver it in the time and place of their choice.

We use data a lot better these days, asserts Feeley. To understand consumer needs, whattheir behaviors are, how to deliver great content and connective media. Having the data drivethe technology enables us to deliver better content and communications. I would also say that

our capabilities have deepened in order to prove out ROI on what we do, she adds.

To that end, Kraft uses Nielsen, Google data, Cannondale shopper data, as well as their owndeep consumer database to understand what people are clicking, where they engage in a time-spent perspective, meshed with learning derived from other platforms (e.g. Kraft sponsoredmagazines, traditional advertising stats, and other sources).

We capitalize on the borrowed platforms that others are creating, interface with popularbloggers, and make sure that our content through all borrowed and earned marketing channelshave that ongoing consumer and marketing relationship, says Feeley.

The content has been re-framed and socialized in the minds of consumers so that it is more

than a recipe share-outit is a celebration point for members of the Kraft community. If thewebsite was just a catalog of Kraft products, it would not attract over 12 million visits per month.

[Media] has evolved from being advertising that pushes awareness of your brand, addsFeeley. Or pulling consumers into the store for promotions and point of purchase and tastingevents. We try to deliver the right message at the right time in the right way. You really need allthree to be compelling and differentiated.

Our clients see things now from a much more holistic perspective, adds OMDs Cahill. Its notmedia alone, its very strategy driven. Its creative thinking that then drives the [media]transactiontoday its ideation first, transaction second.

Cahill points to their expansive Pepsi X-Factor project, which served up a 360-degreecommunications chart that drove everything from real-time red carpet glam-cam, to TimesSquare events, Facebook, a Super Bowl spot (and more). But at the heart of it was Pepsismission to recreate and entrench their position as pop star. Along the way, everything they did(in some way) answered the question, What can Pepsi do to enhance the audience experience?Creating messages that actually entertainbeyond simple product placement, is new to mostmarketers. And despite Pepsis incredible success, weaving media across channels can be achallenge.

You might spend a lot of money on an effort and it may not pay out, warns Edelmans SteveRubel. You want an Avatar, not an Ishtar.

Every brands opportunity today is not only to win the purchase moment, but to widen anddeepen the relationship with millions of social citizens across time and circumstance. Thismeans mastering not only your brands narrative strategy, but levers of push, pull, and portalwhen (and if) the brand is clever enough to do so. Our new transmedia channels allow you tosteer the dialogue toward your differentiated reason for being, why your company started, yourbrand icons, the rites of use for your product or service and the opportunity to weave in newconsumer benefits, include new promotions, line extensions, brand experiences and otherefforts.


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Learning your three Ps and turning brand into content may be one of the most excitingopportunities leaning toward the 22nd century.

Increasing your sum insured

The Online Insurance Advertising Wars

Google makes 99% of its revenues in advertising which amounts to over USD 37 billion in theyear 2011.And on top of this list is insurance which is the most expensive category on Google

Adwords. Infact 24% of the top 10,000 keywords are related to insurance with terms like buycar insurance online, health insurance, auto insurance quotes etc.

In the Indian insurance space too, the trend is fast catching up. Insurance advertising in print

and television (though a money guzzler) is bound to lose its earlier significance as marketingteams look at ROI. The digital space has become the new battefield for consumer mindshare asmore insurers are diverting their budget in direct response campaigns on the Internet.

Insurance companies advertising on Google

When I click health insurance or personal accident oron google.com, the following insurersadvertising messages are visiblea) ICICI Lombardb) LIC Indiac) Star Healthd) Apollo Munich

e) HDFC Ergof) Royal Sundaramg) Max Bupah) TATA AIGi) Bajaj Allianz

j) Reliance Generalk) Future Generali

Thats 11 out of 18 private general insurance companies in India that are currently active on theonline advertising space.

A large number of these players have been rather consistent in digital advertising campaigns

and play around niches. For example Future Generali, Royal Sundaram and ICICI Lombardare the top advertisers in personal accident on Google. TATA AIG features heavily in thetravel insurance space.

and use Google Search as a primary instrument to direct flow to their website and moreimportantly, collect leads which are telecalled by their call-centre officers.


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Pricing Consultants needed for Insurance Companies

Take a minute to think of any product, service or industry that prices its wares at a price like Rs.6482 per annum. I couldnt think of one in a world that is dominated by $9.99 per year or$0.99 per song or Rs. 1,499 annual subscription or 5-for-500 etc.

One of the four Ps of marketing arriving at the correct price is critical to the marketing of anyproduct and service. I define the correct price as one that makes the consumer believe that thevalue provided by the product or service matches or exceeds the price charged. Lets take anexample -

Online Insurance Trends (by www.InsuringIndia.com)

InsuringIndia.com recently introduced a whitepaperhttp://www.insuringindia.com/documents/InsuringIndiaOnlineTrends.pdfon evolving online insurance trends in India. The whitepaper, prepared in association with MDIGurgaon www.mdi.ac.inused data of visitors who visited the portal between Apr Sep 2011. The results were based ona significant sample of 75,000 visitor information like name, number, email id, sum insuredopted, family type opted, interaction within the website etc.

Key results and assessment of the whitepaper

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The Internet will be the research of insurance policies will

Travel Insurance

Travel insurance is insurance designed to cover risks that travellers are exposed to when theytravel. This includes medical expenses, default of travel suppliers such as flight cancelled ordelayed, and other losses incurred while traveling such as loss of passport, loss of baggage etc.and also legal assistance and emergency evacuation.

Travel insurance can be both domestic or for international travel. In some countries, taking uptravel insurance is compulsory when traveling from India. These countries include the UnitedKingdom, Austria, Greece, Portugal, Spain, France, Germany, Belgium, Luxemburg,Netherlands etc. (source : Cleartrip.com)


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http://www.cleartrip.com/insurance/international_rel_faq.shtml Travel insurance can usuallybooked for a particular trip or a "multi-trip" policy can be availed to cover a larger number orunlimited number of trips within a set time frame. (India is massively dominated by single tripcovers about 98% of all travel insurance policies purchased)

Travel insurance can be purchased using traditional methods like your travel agent or it can be

bought online.

1. Traditional method

If you are purchasing your ticket from your neighbourhood travel agent, then the agent willdefinitely ask you to go for travel insurance. A number of agents use Amadeus software to booktickets and the same application is used to issue travel insurance policies. This method is quiteconvenient because all your information is already fed into the ticket booking system and theinformation can be easily copied into the insurance module at the click of a button. The policycan be printed by the travel agent himself and be handed over to the policyholder over thecounter. A neat advantage of this system is that it allows you to book your insurance accordingto the number of days traveled and not on the basis of a slab. For example, if you are to travel

for 8 days, then the premium will be calculated for 8 days and not for the 7 to 15 days slab.Sales commissions to travel agents range between 15% to 35% based on the agentsnegotiation with insurance companies and the volume of business.

Other than agents, travel insurance policies are also available at bank branches. It makessense, because people go to bank branches for forex (cash) and travellers cheques. Banks likeICICI Bank, HDFC Bank and AXIS Bank are major distribution points used by insurancecompanies for buying travel insurance policies

2. Online method

This is where we have a plenty of

Comparison of travel insurance plans in India

Indiancompanies

Other options partner sites like hsbc, Citibank, axis, makemytrip, cleartrip, yatra.com,ibibo

BajajallianzIciciTata aigHdfc ergoRoyal sudrama

Apollo mnich

BupaRelianceIffcotokioFuture generaliOrientalCholaNew India

Mondial asitance


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BerkshireLonelyplanet

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Online policies

Bajaj Health hospitalization, top-up, critical illness, personal accident, hospital cash, seniorcitizen,Motor, Travel

Personal Accident covers

IRDA insurance awareness campaign : Bima Bemisaal

The IRDA has launched an insurance awareness campaign branded as "Bima Bemisaal"(translation : insurance fabulous). Bima Bemisaal is a consumer education initiative that aims toeducate them about their rights and obligations and inform them of the complaint resolutionmethods available to them. The campaign uses various media like print, radio and television.Further, the IRDA has launched a separate website www.policyholder.gov.in as part of thisdrive.

In this post, I have highlighted some sections that every insurance policyholder or buyer needsto read and understand. A general awareness of the process and consumer rights often go along way in approaching any problem or hiccup in a formal manner which ensures that the

insurer and the insured operate within the tenets of their insurance contract.

1. Website of general insurance companies is available athttp://www.policyholder.gov.in/Registered_Insurers_Non_Life.aspx

This information is important because consumers can seek quite a number of resolutions fromthe insurer websites itself. For exampleHDFC Ergos website home page gives you a processof how one can track his/her claim, TATA AIGs home page makes it easy for you to contactthem as they display their toll-free number, SMS and Email options there.

2. Dos and Donts while buying Health Insurance This section is available under the link :http://www.policyholder.gov.in/Dos_and_Donts_for_Health_Insurance.aspx

Two points are important herea) When you buy a health insurance policy know that there are restrictions in coverage. In otherwords, IRDA is making it clear that there is no universal health policy. Every policy documentwill specify what is covered, the definition of what, what is not covered etc. b) When you buy a health insurance policy, disclose details of all pre-existing diseases includingmajor ailments and conditions like high blood pressure or diabetes. I would take this furtherahead and would encourage consumers to disclose every major or minor ailment, chronicdiseases, injuries, hospitalizations etc. that he/she has suffered. This makes sure that the


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proposal is completely transparent from your end and makes certain that in a court of law, aninsurance company cannot refute claims on the basis of the information that you have alreadydeclared.

3. Your Rights and Duties while buying insurance pls refer to the link :http://www.policyholder.gov.in/Know_your_Rights_and_Duties.aspx

4. How to make a complaint? (http://www.policyholder.gov.in/Report.aspx)

Step 1 - Approach the Grievance Redressal Officer of the branch of the insurance company

Step 2 - Give your complaint in writing along with the necessary support documents

Step 3 - Take a written acknowledgement of your complaint with the date.

If the insurance company doesnt deal with your complaint within 15 days, the approach IRDA.

Step 4 a) - Call the IRDA Toll Free Number 155255 or,

Step 4 b) - Send an e-mail to [email protected]

IRDA also has an Integrated Grievance Management System which can be used to register andmonitor complaints at www.igms.irda.gov.in

Read more at www.policyholder.gov.in

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