Project Management

The Missed Opportunity For US Health Insurers

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Executive Summary

At present, most health care payers convert less than 10 percent of the customers who move to a new product class. There's substantial room for improvement. US health care insurers are missing an opportunity to capture low-hanging fruit: better retention of members making the transition between major product classes. Successful conversion strategies, however, require companies to know consumer buying patterns intimately and to maintain ongoing communication and outreach with members. Medicare conversion represents the largest sales opportunity (other than the open and annual enrollment periods), allows a carrier to make better use of its existing sales force, and reinforces its brand image as a comprehensive provider of all health care coverage needs, regardless of life stage.

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