Healthcare insurers have a lot of experience marketing to employer groups. However, business growth is becoming dependent on marketing to the millions of uninsured people in the U.S.
Orlando, FL (Vocus) May 13, 2008
Connextions Inc. announced today that two of the company’s proprietary Software as a Service (SaaS)-based technology solutions – its Market Compass® analytics suite and bConnected® Customer Relationship Management (CRM) platform – have been enhanced with additional functionality, to address the growing need of health insurance plans to acquire, retain and service individual consumers. Shrinking employer-based group coverage and the growth of private Medicare plans have increased the need for health plans to meet the needs of retail customers.
Connextions’ Market Compass is a portfolio of analytical tools that enable health plans to measure, forecast and optimize customer acquisition and retention programs. The company’s bConnected CRM platform – tailored to meet the unique needs of health insurance plans – harvests information as a means to manage and improve the Customer Experience for plan members.
In her March 21 research report entitled, “A Direct-to-Consumer Acquisition Strategy Is Critical for Healthcare Insurer Growth,” Joanne Galimi, research director at independent research provider Gartner, Inc., states, “Healthcare insurers have a lot of experience marketing to employer groups. However, business growth is becoming dependent on marketing to the millions of uninsured people in the U.S.” The report adds that “the ability to drill into customer data and embrace analytics is needed to not only remain competitive, but also to remain viable.”
In the report, Ms. Galimi states, “There are four key steps that must be part of the health insurer "direct-to-consumer" acquisition strategy." These are: (1) understanding the individual (healthcare) market, (2) creating the right products for the individual market, (3) finding new ways to attract the individual market and drive visitation, and (4) tracking the return on investment for each acquisition made through specific marketing campaigns. Connextions believes that its Market Compass analytics and bConnected CRM technology products address all four of those steps.
Commenting on the company’s growing arsenal of tools designed to address the individual health insurance marketplace, Connextions CEO Jack LeFort said, “We will continue to invest in the technology and processes that health insurance plans require as they seek to capture the growing market for individual consumers. We are honored that Connextions’ efforts are being recognized by our health plan clients, and encouraged that industry observers share our understanding of the importance of technological sophistication in building a consumer-direct business.”
Connextions Inc. is a technology-based business process integration 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 individual consumers. Connextions is a privately held company, and part of the New Mountain Partners II, L.P. portfolio.
About Connextions Inc.:
Founded in 1992, Connextions’ nearly 2,300 professionals provide technology-based business solutions for a long list of America’s best-known corporate and healthcare organizations, including FedEx, Sprint, Kaiser Permanente, Mercedes-Benz, Colonial Penn, Olympus, SanDisk, Caremark and Assurant Health. 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
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