Health Insurance 2.0

With the increasing popularity of social networking tools like Facebook and Twitter, expectations on both sides of the business/consumer relationship have changed.

Consumers expect easy, instant access to the products and information they need, whereas businesses are scrambling to find ways to “cash in” on this growing trend.

The result? Incentives for customers and businesses through social media interaction:

• Businesses gain publicity and more opportunities for making personal contact with customers

• Independent experts are encouraged to offer their advice; and

• Customers benefit from independent expert advice and specific social media rewards

 Bringing Customers and Experts Together

HCC Medical Insurance Services, LLC (HCCMIS) redesigned its website to emphasize its new social media offerings.

For Agents

HCCMIS is providing incentives of up to $80 for independent health insurance agents who contract with them via Twitter.

 To ensure HCCMIS maintains a solid relationship with these experts, they are compensating agents at their full commission rate when assisting customers at no charge using the “Find an Agent” feature.

For Customers

Insurance can be complicated; there is a wide and complex variety of products. How can consumers find information and advice about choosing the international health insurance plans that are right for them?

 Every page on the HCCMIS website features a prominent link to “Find an Agent.” Customers—and potential customers—can connect with travel health insurance experts quickly and easily in order to consult someone who can help.

 HCCMIS is also developing several social media-based contests through its blogs, wikis, and other social media channels.

 Why Would a Company Focused on Medical Insurance Use Social Media?

HCCMIS’s leadership understands the importance of keeping up with emerging technologies and trends and how those trends can benefit engagement between all users.

While some of our competitors were bailed out by the U.S. government, Forbes [Magazine] was touting our parent company, HCC Insurance Holdings, Inc., as one of the five insurance companies best positioned to break out of the recession. In support of HCC’s commitment to strong financial performance, we are looking to social media to reduce our operational costs, while maintaining strong customer relationships.

--Mark Carney, CEO of HCC Medical Insurance Services

The Tools

 HCCMIS’s goal to stay connected with customers means staying in touch with social media trends.

 HCCMIS is currently training its customer service representatives to effectively utilize social media to engage customers via:

 • Online chat

• Twitter

• Facebook

• Blogs

Results

 Will this corporate strategy catch on in the world of Health Insurance 2.0?

 Are social media trends too erratic to keep up with?

 Will insurance agents, customers, and corporations really benefit from these changes?

 Time will tell, but if it works…competitors may be chasing HCC Medical Insurance Services for years to come.