Almost all (95%) policyholders have an enhanced view of their insurer after receiving added-value support for a serious health condition, disability, trauma or bereavement, according to the latest patient data from RedArc. While the nurse-led health and wellbeing organisation believes that offering added-value services is the right thing for insurers to do, it also demonstrates how in doing so, they can enhance their reputation, exceed expectations, and potentially improve customer loyalty.
In addition, when policyholders were asked about the benefits of receiving practical and emotional support from RedArc (via their insurer) during difficult times in their lives:
• 89% felt that they were given good or excellent information and or guidance relevant to their health condition
• 71% valued the support because it gave them someone to talk to outside of immediate family and friends;
• 59% agreed that it made sure they were aware of everything that was available to help them;
The results of RedArc’s annual patient survey show that nearly nine out of ten (88%) insurance policyholders who were supported by RedArc would recommend RedArc, making it ‘world-class’ in terms of Net Promoter Score – a cross-industry measure of customer satisfaction.
Christine Husbands, commercial director for RedArc said: “Customer engagement is the holy grail for insurers, as it can be a key differentiator, so any service that attracts and delights customers must be seriously considered.
“Insurers should be reminded that more of their policyholders could benefit from added-value services if their customers were better aware of their options and how that support can be accessed. While it’s a pleasant surprise for policyholders to receive support if they weren’t aware of its availability, it’s a huge, missed opportunity for insurers.
“We’re thrilled that our most recent patient data survey continues to paint such a positive picture and draws a direct line from those insurers who offer our services to policyholder advocacy. This is surely food for thought for those insurers who are doing the bare minimum in this area.”