Product changes...are costly, resource-consuming efforts for the IT and business areas of the health insurer. Therefore, health insurers must include a strategy for the acquisition of individual consumers (including new product development) into their business planning.
Orlando, FL (Vocus) July 31, 2008
Gartner, Inc. has identified Connextions Inc. as a Marketing Applications vendor in its "Hype Cycle for Healthcare Payers, 2008" report. Connextions, a business process outsourcing firm, helps health insurance plans to attract, retain and manage individual and small group members.
Since 1995, Gartner has used "Hype Cycles" as a representation of the maturity, adoption and business application of specific technologies. In her 2008 report, Gartner Researcher Vice President Joanne Galimi described marketing functions that "…enhance a healthcare insurer's ability to segment, target and provide more-relevant content to frontline personnel, partners and customers."
As employers continue to reduce or drop group health coverage of workers and as individuals bear greater responsibility for their wellness, health insurance companies are evolving from a wholesale B2B model to a retail B2C orientation.
Connextions' marketing application strategies - based on a deep understanding of the healthcare industry and its work on behalf of several major U.S. health plans - deliver technology-based and human solutions necessary for plans to build an integrated approach to member acquisition, retention and service. Connextions' broad range of consulting and business process outsourcing services increase revenue, decrease operating costs, enhance member persistency and strengthen brand loyalty.
In the Gartner report, Ms. Galimi wrote that health insurers' "marketing strategies must evolve, and investments must shift toward measurable, highly addressable (knowledge about who the customer is) and highly aware campaigns (ability to be aware of responses) to improve response rates within a multichannel campaign management environment for the individual market."
Ms. Galimi also notes, "Product changes...are costly, resource-consuming efforts for the IT and business areas of the health insurer. Therefore, health insurers must include a strategy for the acquisition of individual consumers (including new product development) into their business planning."
In response to Connextions' inclusion in the Gartner report, CEO Jack LeFort said, "We are currently helping several health plans incorporate a consumer-driven marketing model that will enable them to gain competitive advantage through speed to market, lower cost of acquisition and higher member retention. Our strategies are producing industry-leading results and differentiating health plans among all demographics of consumers in the marketplace."
Connextions Inc. is a technology-based business process outsourcing firm with broad expertise in the healthcare industry, assisting well-known health insurance plans and healthcare providers in their efforts to attract, transact with, and retain members. Connextions is a privately held company, and part of the New Mountain Partners II, L.P. portfolio, a private equity fund sponsored and managed by Manhattan-based New Mountain Capital LLC.
About Connextions Inc.:
Founded in 1992, Connextions' more than 2,500 professionals provide technology-based business solutions for a long list of America's best-known corporate and healthcare organizations, including FedEx, Sprint, Mercedes-Benz, Olympus, SanDisk, Kaiser-Permanente, Colonial Penn, Caremark and Aetna. See http://www.connextions.com.
About New Mountain Capital:
New Mountain Capital, LLC is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. New Mountain seeks out the highest quality growth leaders in carefully selected industry sectors, and then works intensively with management to build the value of those companies. See http://www.newmountaincapital.com.
For additional information:
Gordon G. Andrew
Senior Vice President
Cell: (609) 987-0200
gandrew @ connextions.com