A global corporate health insurance provider wanted to know how its brand measured up against its peers across 12 countries. As consumer expectations evolve constantly, the company wanted to track customer preferences towards products and brands in its category and the factors shaping their perceptions.
Business challenge
The insurance major wanted to gain a holistic view of its brand health in 12 countries by understanding the customer behavior and attitudes towards expatriate health insurance products. Its products catered to customers in three major segments – students, working professionals and retirees who had taken health insurance that was either provided by their employers, self- purchased from international private medical insurance (IPMI) providers, or IGOs in the target geographies.
Solution
To meet the unique requirements of the insurance company, Netscribes utilized a hybrid methodology to assess the company’s brand health. This included a combination of telephonic/ CATI and online/CAWI interviews with a representative subset of the target customer segments.
Over 2000 interviews were conducted among respondents in the target countries. The interviews mainly included closed-ended questions that were designed to gather insights about customer brand preferences, perceptions, and the brand’s competitive positioning in the market.
The information collected was classified broadly under:
- Brand health measures
- Brand perception
- Key factors impacting brand consideration
Netscribes further conducted a consumer journey analysis which provided a view of the factors influencing customer purchase decisions, attributes that matter most and the most popular companies that came in the consideration.
As a company’s brand health keeps changing, it was important that the client monitor its brand health metrics on a regular basis. Keeping this in mind, Netscribes proposed to track the client’s brand health on a yearly basis.
Read more: The power of brand health analysis: How it can help you stay relevant in the market
Results delivered
Based on the comprehensive customer and competitive analysis, Netscribes measured and tracked overall brand metrics of the client and its competitors in the target geographies.
Through the study, the client was able to see:
- The most preferred insurance providers for different types of customers (i.e. corporate employees, self-employed, students, and retirees)
- Top market players in each country
- The most preferred type of insurance within each customer segment (E.g. employeebased or individual based)
- The highest number of claims type for all insurance companies
- The key focus areas of the different competitors
- The largest customer segments for all insurance companies
Benefit
Based on the insights uncovered by Netscribes’ brand health study, the client was able to:
- Make informed changes in their marketing strategy
- Modify their brand messaging and perception building activities
- Make customer-focused improvements in their product offering
