The US health insurance industry is facing various challenges, although it is witnessing positive growth. Industry challenges such as the uncertainty of the ACA, the transition to value-based care, controlling costs, and rising difficulty in retaining members are severely impacting players. Infiniti's market intelligence solutions help companies identify ideal opportunities and successfully expand in this dynamic and challenging market. In their recent engagement, Infiniti's experts assisted a health insurance company to successfully expand into a new market and enhance sales substantially.
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Market Intelligence Solutions for a Health Insurance Industry Client: Business Challenges (Graphic: Business Wire)
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"Although the US health insurance industry is witnessing positive growth, several key issues are restraining the development of this sector. With the rising challenges, companies in the sector are finding it difficult to explore new avenues and markets for growth," says a health insurance industry expert at Infiniti Research.
Business Challenge:
The client is a health insurance company based out of Europe, and was eager to understand the prevailing market dynamics in the US health insurance industry, to create an efficient expansion strategy. They sought to examine factors such as the investment environment and industry development. Therefore, they chose to partner with Infiniti Research to leverage their expertise in offering market intelligence solution. During the seven-week engagement, the client also sought to understand US healthcare policies, analyze the business models of top health insurance companies, and carve out a niche to set themselves apart from competitors.
Our Approach:
Infiniti's market intelligence experts developed a comprehensive approach to assist the health insurance industry client. The approach included the following:
- Market scanning and monitoring analysis to help keep tabs on target market segments and understand regional market developments
- Market research study to understand US healthcare reforms, market innovations, and industry developments
- Competitive intelligence study to review the business models and strategies of the top companies in the US health insurance industry
- Offering market entry advisory solutions to help the client review macro and micro-economic environments, identify potential barriers to entry, and route-to-market strategies
Business Outcome:
With Infiniti's market intelligence solutions, the health insurance industry client devised its go-to-market strategy and route to entry. The client also gained detailed insights on the market demographics, and developed a detailed understanding of market opportunities in the US healthcare industry. The health insurance industry client also gained insights into the competitive scenario, and competitors' business models and strategies. These outcomes helped the client successfully expand in the US health insurance industry.
Additionally, the market intelligence solution enabled the client to:
- Differentiate their brand with the right promotion and marketing activities
- Expand from 1 office, to more than 74 offices within two years
- Enhance their market share by 34%
Speak to industry experts to gain a more comprehensive understanding the benefits of leveraging Infiniti's market intelligence solutions in identifying ideal market opportunities and understanding the competitive scenario when expanding into a new health insurance industry.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
View source version on businesswire.com: https://www.businesswire.com/news/home/20200916005719/en/
Contacts:
Press Contact
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
