Consumer Purchase Behavior
Health Insurance providers can see underlying and measurable trends driving likelihood of purchase of related products in local markets
More than 140 million Americans currently have discretion over health insurance purchases, representing a total of $785 billion in premiums or premium equivalents. As consumers revisit their current insurance status it is critical for Healthcare Insurance providers to understand the underlying, measurable trends driving likelihood of purchase of healthcare insurance and Specialty products at local level (e.g. Health Insurance, Income Protection, Supplemental Coverage, “Wellness” (fitness/eating/stress/etc), Eldercare, and others).
Analytics of social media and member’s historical records can uncover combination of factors leading to consumer decisions including:
• Economic drivers -- unemployment, out of pocket costs, median income ranges, housing prices, CPI/modified CPI
• Consumer Bias and relative influence power -- political objections, perceived value of insurance and trust
• Share of wallet in play -- disposable income for healthcare related products -- personal economics and trends
• Sentiment trends, conversation topics -- keywords trending
xtLytics Big Data Analytics provides a 360--degree view across all critical trends driving consumer purchase behavior. You will be able to exploit new opportunities to market Healthcare Insurance and Specialty products in local markets to existing customer and new prospects.