The increase of competitiveness in the private health insurance industry

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28.09.2018
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The increase of competitiveness in the private health insurance industry

News

Specialists of the private health insurance market in the USA signal the fact that this industry registers a high degree of competitiveness. The trend is due to recently created companies, but also to the buyers’ behavior, which is influenced, among other things, by the value of an insurance plan.

Equally, the development of technology and the people’s desire to perform as many activities online as possible brings significant changes to the manner of accessing a private health insurance. This is one of the reasons why they are more inclined to work with an insurance company that can perform as many procedures as possible online and which has a relevant experience in the field.

“In the case of MediHelp International (Romania), the sales of private health insurance have increased by more than 90% in the first trimester in 2018. This percentage, compared to the average increase on the market, is due to the fact that MediHelp International only promotes this line of business, having expertise in medical insurance plans with international coverage. Also, the increase is also influenced by the materialization of the plans and budgets invested in the previous year,” explains Alexandra Gardan, Development Manager, MediHelp International.

On the other hand, Leemore S. Dafny in Harvard Business Review demonstrates that fact that a high level of competitiveness in a certain activity domain attracts important benefits and more accessible prices. Also, another effect is the emergence of a loyal behavior toward the chosen company, an attitude often come across in natural persons and legal entities.

“The average period in which our clients choose to stay with us is 7 years, and each year, over 80% renew their health insurance policy. This is due to the fact that, through a medical insurance obtained via MediHelp International, the client has the freedom to choose any world renowned doctor, hospital or clinic. Thus, the insured person is not limited to local medical suppliers for investigations and tests or even for serious ailments, such as complex surgical interventions, organ transplant, cancer treatment, etc.,” explains Elena Ciobanu, Operations Manager, MediHelp International.

In conclusion, it is important to evaluate as precisely as possible the increase of the degree of competitiveness in this activity domain, because it will attract numerous consequences, both for the insured people and for all categories of interest partners.


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