The leading brands in health care in India started working as standalone insurance companies. They provide services ranging from travel insurance, health insurance, and also overseas insurance. They provide services to all corporations and individuals.
Government entities also work with agents, online and also have a good partnership with banks across India, Blue Weave Consulting estimated growth at a CAGR of 10.1% during the forecast period of 2021- 2027. India’s health insurance market is witnessing robust growth due to the changing lifestyle and the increasing burden of various health issues.
The age of digitization has dawned upon us. Each and every industry is heading towards social networking, and the healthcare industry shouldn’t be left behind. Traditionally, people preferred to speak to someone face-to-face, but now the role has changed, they consult online health websites. Hence, the online space presents excellent opportunities to engage with the customer, and being relevant in the social space is extremely imperative.
The objective of insurance companies is to financially guard individuals against unpredictable life occurrences. When an individual purchases an insurance policy, they make monthly payments, known as premiums, to purchase protection from monetary repercussions related to things like accidents, illness, or even death. The number of your premiums is based on your coverage needs, your personal history, and, in some cases, your age, health, and even where you live. The objective of an insurance company is to be relevant on social media and respond promptly to each customer, and ensure that all queries and complaints are responded to on time. The brand should also know what people are talking about their brand.
Can Social Media Impact the Insurance Industry?
Yes, definitely. Social media offers insurers a ready audience that is out there expressing themselves. If insurers dig deep for relevant information, they will get productive insights. Understanding consumer behavior will empower insurers to make profitable decisions.
Audience engagement encourages brand building. An insurance company can communicate with its audience by focusing on its strengths. Social audiences can view details shared across insurers’ social media handles as expert advice. Complicated insurance products can be presented and illustrated in a simplified manner.
People often complain about the time taken by insurance companies to respond to their queries and the delay in claim settlement. Prompt response, quick grievance redressal, and convenient claim settlement will lead to satisfactory after-sales service. Social media can be viewed as a dynamic marketplace where the brand and the customer can engage in a less formal way and get to know each other better. This will eventually lead to improved services and benefit both the insurance provider and the policyholder.
The relevance of social media is a key pointer for a brand to grow, and for better response management and customer service, the brand has to be online. And due to the volume of conversation which crawls on the social platform, the response should be quick enough. Many healthcare organizations are turning to SaaS-based technology and using applications throughout hospitals. Hence, to improve all their activities on social platforms. They need software that can work as an omnichannel platform, where all the queries and complaints are answered from one centralized place.
The Role of Konnect Insights
Konnect Insights helps in online response management, social listening, and CRM. This helps to respond to customers on time and also to gauge what people are talking about the brand and provides structured data to work on. With Konnect Insights they don’t have to worry about scalability, cost, and security. With complete confidence, Konnect Insights provides a one-ticket view and all the ticket history.
Response management ensures all the escalation metrics are in place by responding on time. This platform comes with significant benefits – It can boost the efficiency of the team who are working on the platform improving patient care and collaboration. Furthermore, Konnect Insights provides charts and non-complicated dashboards to work and eradicates the static number report, and in return simplifies the whole process. Competition analysis is bringing equal information, which helps the brand to understand what its competitors are up to.
Konnect Insights leverages the power of social listening to accelerate business growth as it provides a comprehensive overview of social media conversation. It analyzes and manages its online reputation in an improved manner and helps the brand achieve its requirements with full potential.