the changing landscape of the health insurance market (2010)

The Changing Landscape of the Health Insurance MarketPresented to the AARP Agent Advisory Council

By Rey Villar, Online Marketing Manager

San Antonio, TX, November 8, 2010

The Changing Landscape of the Health Insurance Market

Rey VillarNorvax Search/Online Marketing Manager

Luck is what happens when preparation meets

opportunity.

- Seneca

The New LandscapeThe New Landscape

TurbulenceTurbulenceFearFearPressurePressurePowerlessnessPowerlessness

Goners

The Real Problem to FearThe Real Problem to Fear

What Happened to…What Happened to…Travel agents?Travel agents?Real estate agents?Real estate agents?Mortgage brokers?Mortgage brokers?

The Internet happened!The Internet happened!

The Internet DominationThe Internet Domination

Nine out of every 10 individual health Nine out of every 10 individual health insurance plans sold in 2011 will be insurance plans sold in 2011 will be initiated or completed online.initiated or completed online.

- Celent Research, 2008 - Celent Research, 2008

The Internet DominationThe Internet Domination

Google U.S. Searches (Monthly)

Medicare 1,830,000

Medicare Advantage, Medigap 74,000

Health Insurance Exchange 3,600

Health Insurance 3,350,000

Health Insurance Quotes 201,000

Affordable Health Insurance 135,000

Health Insurer Sites Decline,Info Sites on the Rise

Opportunity!

Luck is what happens when preparation meets

opportunity.

- Seneca

Opportunity is here.

Let’s look at some numbers.

17,000,000in health insurance market


30,000,000NEW once Guaranteed Issue hits



15,000,000Will Qualify for Subsidies



15,000,000Will Qualify for Subsidies

15,000,000Will Now Be Looking

STOP. THINK.

32,000,000Your market just doubled.

Sweet.

32,000,000Previous Market + New to Market

51,000,000In small group market.

Estimate 25% leakage.

32,000,000Previous Market + New to Market

13,000,000Leak from Group to Individual.

45,000,000Total market size.

Nice.

4 Keys to Survival

1. Greater Efficiency

2. Higher Productivity

3. Diversified Offering

4. Online Marketing

Success-Oriented Toolbox

1. Greater Efficiency- Quoting tool- Eapplications

2. Higher Productivity- Email autoresponders- Desktop sharing

3. Diversified Offering- Ancillary products- Presentation framework

Presentation FrameworkWhat are you going to help them with?

Health insurance

Life insuranceCritical illnessAccidentAnnuitiesProperty and casualty

DON’T

HERE!

Success-Oriented Toolbox

3 Pillars of Online Marketing

1st Pillar of Online Marketing

Generating Generating Traffic: Traffic: Search Engine Search Engine OptimizationOptimization

Google U.S. Searches (Monthly)

Medicare 1,830,000

Medicare Advantage, Medigap 74,000

Health Insurance Exchange 3,600

Health Insurance 3,350,000

Health Insurance Quotes 201,000

Affordable Health Insurance 135,000

SEO: Organic Search

2nd Pillar of Online Marketing

Generating Leads: Website Conversion

Design for Conversion

What if your website generated enough leads — so you never have to buy leads again?

Design for Conversion

1. Beware of artistes

2. Prioritize your products

3. Build trust

4. Understand online shoppers

3rd Pillar of Online Marketing

Nurturing Nurturing Leads: Email Leads: Email MarketingMarketing

These Leads Stink!

What if you could DOUBLE your lead CLOSE rate?

The Changing Landscape of the Health Insurance Market

Rey VillarNorvax Search/Online Marketing Manager