New data from nurse-led support provider RedArc has revealed that 95% of protection policyholders reported an improved view of their insurer after receiving practical or emotional support for a serious health condition, disability, trauma or bereavement.
The findings suggest that value-added services can have a meaningful impact on policyholder experience and brand perception. RedArc’s support services are offered through insurers and designed to help customers navigate difficult life events.
The annual patient survey, based on feedback from policyholders, showed that 89% rated the information and guidance provided as good or excellent, while 71% appreciated having someone to talk to outside their usual circle of family and friends. A further 59% said the support helped them understand the full range of assistance available to them.
Christine Husbands, commercial director for RedArc, said: “Customer engagement is the holy grail for insurers, as it can be a key differentiator, so any service that attracts and delights customers must be seriously considered.
“Insurers should be reminded that more of their policyholders could benefit from added-value services if their customers were better aware of their options and how that support can be accessed. While it’s a pleasant surprise for policyholders to receive support if they weren’t aware of its availability, it’s a huge, missed opportunity for insurers.
“We’re thrilled that our most recent patient data survey continues to paint such a positive picture and draws a direct line from those insurers who offer our services to policyholder advocacy. This is surely food for thought for those insurers who are doing the bare minimum in this area.”
