His sentiments were echoed by Paul Nattrass, commercial director at Medical Solutions, who highlighted the benefits that remote GP services are bringing to people in the UK and an NHS primary care service that is being pushed beyond its limits. “70 per cent of the NHS budget is consumed by people with chronic conditions, such as obesity and diabetes: conditions that are to a large extent preventable.
“Insurers need to collaborate with specialist providers to support behaviour change and reduce claims.”
Meanwhile, Steve Casey, marketing director at Square Health, commented that the introduction of added-value services can help take the industry into the digital world. “Apps are second nature to a high proportion of the population, so it makes sense to use this channel.”
Analysis by Vitality of mindfulness app usage shows that 70 per cent of those that use Vitality Healthy Mind show no risk with regards to their Vitality Age, said Dr Ali Hasan, Clinical Operations Director, VitalityHealth. “In other words, they’re using it whilst healthy to avoid problems in the future.”
“Supporting behaviour change can have a hugely positive impact on people’s future health and wellness. For example, our member data shows claim costs can be up to 1/3 lower with increasing levels of physical activity levels, demonstrating the salutary health improvement benefits that positive lifestyle changes can make.”
4. We need to focus on growing the market through improved consumer trust, not by simply telling people they should buy protection.
This was the view of speaker Ian Henderson, chief executive at AML Group, an agency specialising in branding, digital and advertising for the financial services sector.
He highlighted the Edelman Trust Barometer 2019, an annual survey of which sectors are trusted by consumers. “The financial services sector comes bottom every time,” he says.
Mr Henderson points out that the traditional “top-down” approach of advertising is not working.
“The more you tell people to get life or IP the less likely they are to do it,” he says. “Top-down doesn’t work with regards to changing behaviour. Instead, business is grown through a bottom-up, consumer champion approach: customer referral, word of mouth, hearing about things from family and friends.
“We need simple, focused ideas that are relevant to people’s lives and will help ensure they’re more likely to take action. We can’t impose it.”
How could this be achieved for the protection industry?
- Understand audiences, relationships and drivers: articulate the purpose and value.
- Find an idea that aligns and inspires how the protection brand can enter the culture.
- Create and enable consumer-driven channels that communicate and amplify behaviour change.
5. It is high time everyone started talking about the claim in an emotional, not a functional way.
Representative from LifeSearch and Morgan Ash spoke on the need for the industry to move away from just talking about the number of claims paid each year and, additionally, focus on how protection has helped: how it has changed lives.
