How Health Insurers Can Get Closer to Consumers
Knowledge@Wharton | Marketing | 7 November 2014
Individuals become part of the health care system at birth, and they remain enmeshed in it until death. So when health care companies talk about the lifetime value of a customer, they really mean it.
Cigna, a health care insurer that does business in more than 30 countries, including those with a single-payer health care system, has been focused on determining customer lifetime value and how that impacts its business.
“We’ve got products for infants, and we’ve got Medicare products,” David Fogarty, head of global customer value management for Cigna Insurance, said at Thursday’s Customer Centricity Summit in New York, organized by Knowledge@Wharton, the Wharton Customer Analytics Initiative and Momentum Event Group.
Fogarty is leading the company’s shift from a business-to-business model in the U.S. to a “business-to-business-to-consumer” focus — that is, businesses, not individuals, usually are the company’s first point of contact for selling. The challenge, he noted, is making a highly complex system more easily navigable by customers when Cigna often isn’t their first contact for care and often doesn’t know a lot about the customer’s experience when receiving that care.