• by Kelly Ford , May 31, 2013

In today’s digital age, health insurance customers have high expectations due to their personalized and tailored shopping, buying and service experiences with other industries. As consumption levels across connected devices are at an all-time high, and the “consumerization” of technology continues to rise, too, a differentiated and enhanced customer experience can mean all the difference between a loyal customer, and a lost one. Forrester estimates that above average customer experience scores can keep customers from switching health plans and save health insurance companies up to $4 million in revenue. These are a few market trends that continue to alter the health insurance ecosystem, yet also allow for companies to take advantage of new value opportunities by placing a higher level of attention on the customer. 

Healthcare marketers and insurance providers can act on and benefit from these changing dynamics by delivering an enhanced customer experience via the most captivating digital medium: online video. Making video technology smart means each video is created for and personalized to the individual viewer by enriching video content with rich customer data analytics, after all, data is the new creative. Pulling structured data from one or more sources, such as a CRM database, allows for an engaging channel – digital video – to cross-educate and retain policyholders based on data-driven insights. 

An example use case of this innovation at work for health insurers is the standard explanation of benefits (EOB) statement generated as a personalized video. Healthcare communications are heavy in legal jargon and fine print, difficult to understand, lacking a personal touch, and generally unexciting. Most of the time, this communication will fall to the bottom of an email inbox or tossed in the trash bin. Consumers are easily confused by such statements, which can lead to excessive support costs, churn, and ultimately create barriers to deepening policyholder relationships within the first year.

Delivering a customer’s EOB statement via video presents a way more interactive customer communication, offering a deeper level of digital engagement at moments that typically create frustration for customers. It elevates the customer experience by gaining his trust and proactively relieves the complexity associated with policy benefits, terms and fees. Video is a friendly and more engaging format than a multi-page statement and can actually explain fees to the policyholder in a contextualized and easily digestible manner, ensuring he receives only the relevant and necessary details.

A video EOB can be received by email, SMS and within an authenticated “My Account” portal in conjunction with date of paper or PDF benefits statement. Smarter video technology leverages customer data to generate a personalized video presentation to educate the policyholder about his specific plan coverage details, highlight value-added services, and recommend actions that deliver a great customer experience. Example scenes may include: 

1. Review of the current month’s medical, dental and prescription charges, with the plan’s coverage deduction and what the policyholder has paid, or needs to pay
   
   
2. Status of a filed claim from a recent medical or dental visit
   
   
3. Value-added services for customer adoption, such as autopay enrollment, paperless statement sign-up, and / or mobile app download 
   
   
4. Recommended actions in order to help the policyholder save money, such as mail-order prescriptions sites and / or generic prescription alternatives

Similar to video bills for wireless providers, video EOB statements can significantly reduce the number of related calls from customers, as well as average duration of such calls, as the video proactively addresses typical policyholder questions. Video also increases brand stickiness, as the take rate on value-added services is greater for video viewers than non-viewers. Video experiences can drive a measurable and material business impact while keeping the individual customer at the core.