The health insurance market has witnessed immense growth globally due to increased awareness regarding personal health and wellbeing, rising healthcare costs, and the increasing prevalence of chronic diseases. While these factors have propelled growth, insurance companies face a variety of challenges including changing policies, customers' rising expectations, and controlling costs. Infiniti's market intelligence solutions provide companies with in-depth insights into crucial factors impacting the market and help them devise comprehensive business strategies to tackle the various challenges in the health insurance market. To leverage Infiniti's market intelligence solutions for data-driven guidance regarding changes, challenges, and future potential in the health insurance market, request a free proposal.
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Three Significant Challenges Faced by the Health Insurance Market Client (Graphic: Business Wire)
"Although the health insurance industry is witnessing positive growth, several key issues are restraining the sector's development. With all these rising challenges, health insurance companies are finding it difficult to explore new avenues and markets for growth," says a financial services market expert at Infiniti Research.
Business Challenge:
The client is a European health insurance company and sought to create a well-informed market expansion strategy for the US health insurance market The company wanted to assess crucial factors impacting the health insurance market, including investment environment, various market developments, and marketing channels for service promotion. Therefore, they approached Infiniti Research to leverage our expertise in offering market intelligence solutions. During the nine-week engagement, the health insurance market client also wanted to clarify the changing policies in the US, evaluate key competitors' strategies and offerings, gain a strategic advantage, and differentiate themselves from competitors.
Our Approach:
Infiniti's experts developed a comprehensive market intelligence strategy to assist the health insurance market client. The approach included the following:
- Conducting a market scanning and monitoring analysis to help the client gain crucial insights on target market segments, keep abreast of various market trends and developments, and understand the future market potential
- Helping the client evaluate US health care policies and market developments with a market research study
- Reviewing business models and strategies of top companies using a competitive intelligence study and tracking marketing approaches adopted by key competitors
- Devising an efficient market entry plan, identifying barriers to entry, and building a strong route-to-market strategy with our market entry advisory solutions
Speak to industry experts to understand the importance of market intelligence solutions and the value of understanding market developments, changing policies, and new marketing channels in the health insurance market.
Business Outcome:
Infiniti's market intelligence solution helped the health insurance market client devise a robust market entry strategy and tackle the various entry barriers in the US health insurance industry. With insights regarding the competitive environment and market demographics, the client identified ideal market opportunities and expanded their business operations The insurance company also practiced improved promotion and marketing activities and helped their brand grow. Lastly, the health insurance market client expanded their operations significantly and achieved a 34% increase in its market share.
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 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/20201210005345/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
