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Improve Health Insurance Competitive Intelligence In 1 Step

Posted by Andrew Day on Wed, Jul 20, 2011 @ 04:33 PM

1 Simple Step to Improve Your Health Insurance Competitive Intelligence

Individual Health Insurance competitive Intelligence

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With the health insurance industry changing at such a rapid pace, ANY health insurance provider can fall behind the competitive curve in a short period of time.  Health insurance competitive intelligence is the best way to keep up with the changing competitive landscape.  Robust health insurance competitive intelligence has the ability to put you ahead of your competition. 

The Solution: Health Insurance Competitive Intelligence Software

Health insurance competitive intelligence software  is a relatively new concept that is of great value to both single state and multi-state insurance companies.  Programs specifically tailored for the individual health insurance industry keep you on top of your competition, and can track competitive information related to:

    • Rates
    • Benefits Coverage
    • Geographic market trends where you are currently competing and where you are interested in expanding
    • Demographic market trends for specific age/gender/family profiles that are critical to your risk portfolio

Health insurance competitive intelligence software programs aggregate enormous amounts of data, normalize it for easy comparison, and do so in a very short amount of time.  The information can be used by the following departments:

    • Pricing Analysts
    • Actuaries
    • Product Managers
    • Sales
    • Executive Management
    • Business Intelligence
    • Industry Analysts

The individual health insurance industry is in a massive state of flux.  I strongly suggest looking into competitive intelligence software.  Take control and gain the competitive advantage.  Knowing what your competitors do not, is power in the Information Age; are you powerful?

Tags: Health Insurance