Health insurance suffers a drop in the emotional attachment of its clients, according to EMO Insights

MADRID, 25 May. (EUROPA PRESS) -

The health insurance sector has suffered a slight drop in the emotional attachment of its clients, due to the more difficult care environment due to the arrival of the coronavirus and the growing perception that insurance is becoming more widespread, according to the 5th Study of Emotions in Health Insurance presented by the consulting firm EMO Insights International.

The CEO of EMO Insights, Elena Alfaro, has pointed out that the drop in the EMO Index has been "slight" compared to other industries, going from an average of 45.9 points to 44.5 points, when the banking sector lost 5 points in the same period, although for different reasons. "However, the increase in opponents in this sector is worrying," she pointed out.

Among the 17 companies analyzed, it has led the emotional ranking Health Care (61.4 points), followed by Generali (56.2), FIATC (55.7), Mapfre (51), Vivaz (50.7), Sanitas ( 50), Santa Lucía (49.2), DKV (49.1), Agrupación Mutua (46.6), Asisa (46.1), Caser (45.7), Axa (44.4), IMQ (44 , 1), Catalana Occidente (41.1), Cigna (40.6), Adeslas (36.1) and Aegon (31.7).

For his part, the director of operations at EMO Insights, Gonzalo Martín-Vivaldi, added that what is relevant is that the fall is caused, fundamentally, by a decrease in the assessment of the health service (appointment request, consultation, medical tests , emergencies or hospitalizations), "due to a more difficult care environment due to the arrival of Covid-19, but also to a growing perception that insurance is becoming more widespread".

The report reveals that the sector is increasingly price-oriented and that negative emotions have gained weight in the last year, with disappointment playing a special role, due to the progressive perception of overcrowding of the service and the impact of Covid-19 .

When choosing an insurer, customers increasingly focus on the price factor, which has been the main reason for selecting a company for two years, followed by recommendation.

"There are different factors that are pushing customers to choose an insurer more and more based on price: lack of differentiation, proliferation of comparators, promotional offers or the mediation of agents and banks, among them. Now it is not a problem, because the sector is growing, but it can pose a threat in the future when it comes to emotional bonding and customer loyalty," Alfaro warned.

The most determining factors to emotionally link or disconnect the client from health insurance are the offer and quality of digital services and the management of the healthcare needs of clients caused by Covid-19, according to the study, which shows that Digital channels, especially apps, have gained a significant presence in the sector in the 2019-2022 period, being the key factor that has emotionally sustained the sector from a greater drop and one of the aspects that most differentiates the experience between insurers.

On the other hand, the study highlights that 53% of clients are unaware of their mental health insurance coverage, which represents "an opportunity for improvement, since the data shows that their knowledge generates customer bonding."

"If, in addition to knowing the coverage related to mental health, he has used it, his emotional bond recedes, which is striking and suggests that they are considered insufficient, since for the rest of the insurance assistance coverage, their use increases the emotional bond of the client", has highlighted Martín-Vivaldi.

Likewise, the consultant has appreciated a good predisposition on the part of the client so that mental health is a relevant part of the insurance, either in an integrative way (paying more for its inclusion in your policy or for more coverage than the current ones) or in a modular way. (building modules to add to the base health insurance).