Insurance Companies Think They’re Differentiating in 2022 … But Are They? (VIDEO)

Vince Murdica

Vince Murdica

What’s Wrong

Every year insurance carriers tell clients how new and different their health plans are vs. others. The reality is, they aren’t different at all. These plans generally have all the same benefits with various versions of wellness programs, mental health, and virtual care. That creates risk for insurance companies.

Learn about the biggest risk to carriers in the next two years:

“Darling upstarts,” such as Oscar and Bright HealthCare, are taking the market share of more entrenched insurance companies through technology and innovation. It’s being adopted so quickly, these companies are valued at billions of dollars and growing rapidly.

Granted, some insurance companies have made some progress with innovation, for sure. But focusing just on health plan benefits misses a huge opportunity to differentiate and engage client decision makers who decide which health plan to offer their employees.

Learn about the biggest opportunity for carriers in the next two years:

The decision makers are the HR manager, the office manager, CFO, or owner of a small or medium business. Insurance companies need to focus on the pain points of decision makers and make their health plans stand out.

Mineral Works

Mineral is proactively solving those pain points. We found that promoting organizational health through HR and compliance services to clients differentiated insurance companies (and their plans) in the market.

Today we’re seeing innovation boom from partnering with insurance companies, who combine organizational and employee health to differentiate themselves in the market.

We also brought on an industry veteran, Janna Jones, former VP at Optum to lead our carrier strategy.

Listen why a VP from Optum decided to join an HR and compliance company:

We’re confident that using Mineral will differentiate health plans and help insurance companies innovate better. 

Hear why Janna believes HR and compliance is the next great opportunity for carriers:

For Vince and Janna’s full interview, watch here.

Author: Vince Murdica
Vince Murdica is the Chief Revenue Officer at Mineral.