New Verint Research Shows How U.S. Health Insurance Companies Rank in Member Satisfaction
September 20 2021 - 8:30AM
Business Wire
United HealthCare, Humana and Kaiser Foundation Health Plan
Earn Top Three Satisfaction Rankings in the 2021 Report
Amid a tumultuous time for the healthcare industry due to the
global COVID-19 pandemic, the top 25 health insurance companies
remained in tight competition when it came to member satisfaction,
according to new research released by Verint® (NASDAQ: VRNT), The Customer
Engagement Company™. The range for satisfaction (SAT) scores from
highest to lowest was just under nine points out of a possible 100,
suggesting that all the top 25 health insurers are highly
competitive, according to the Verint Experience Index: Health
Insurance 2021 report, which surveyed health insurance members from
June through July 2021.
United HealthCare ranked first with a SAT score of 84.1. Humana
came in second with 83.4 while Kaiser Foundation Health Plan came
in third with 82.8. The report shows what drives member
satisfaction, with perceived value having the most important impact
on satisfaction for the vast majority of the top 25 U.S. health
insurers evaluated. Other impacts to member satisfaction varied
across the board, including enrollment, services, provider
availability, digital experience, and claims.
“The global pandemic has created new challenges for health
insurance companies, from the contact center’s need to tackle new
processes and procedures like COVID-19 prevention, testing and
treatment information to financial pressures. And health insurers
had to adapt and act quickly in a constantly changing world,” says
Verint’s Kevin Daly, global vice president and GM, Experience
Management. “Our research shows that the top health insurance
companies delivered great member experiences across channels.
What’s more, the report shows what members want out of their
experience and when and how they choose to engage with the
company.”
Other key findings from the report indicated:
- Members prefer the “fastest” and “easiest” ways to connect with
their insurer—but they can’t agree on which channels best provide
this. The division doesn’t necessarily fall along generational
splits; 31 percent of Baby Boomers want to use the website while 31
percent of Gen Z want to call.
- Insurance providers that cover telehealth have a 12 percent
higher trust score from their members than providers who do not
provide telehealth coverage.
- Across all survey respondents, benefits, copayments, and
in-network providers were the most important factors when selecting
a health insurance policy. Cost transparency and mental health were
relatively less important to members as a whole but extremely
important to Gen Z: cost transparency is 116 percent more important
to Gen Z than the average member and the second most important
factor in their decision making; mental health coverage is 281
percent more important to Gen Z than other respondents.
Download the free Verint Experience Index: Health Insurance
report to learn more about the rankings and research.
Survey Methodology
The Verint Experience Index is a web panel survey report
chronicling customer experiences across key industries. The 2021
health insurance edition ranks the omnichannel experiences of the
top health insurance providers in the U.S. Top companies were
determined by the National Association of Insurance Commissioners
(NAIC) rankings based on market share. The study uses one panel
sample with survey respondents representative of the U.S. general
population with 250-260 responses for each health insurance
provider. Respondents needed to have a health insurance policy with
one of the providers to qualify for the survey. Rankings in the VXI
are based on satisfaction (SAT), using a scale of 0 to 100. NPS* is
also shown, on a scale of -100 to 100. All significance testing was
completed at a 90% confidence level. In a few instances, Verint was
not able to collect enough panel survey data for a top insurer
during the fielding timeframe. These companies were dropped from
the list. Whether or not an insurer is a Verint client has no
bearing on their inclusion or exclusion in the list. The study was
fielded from June 9-July 1, 2021, with a total of 6,336 survey
respondents. SAT margin of error is +/- 1.88 and NPS margin of
error is +/- 7.99.
About Verint
Verint® (Nasdaq: VRNT) helps the world’s most iconic brands –
including over 85 of the Fortune 100 companies – build enduring
customer relationships by connecting work, data and experiences
across the enterprise. The Verint Customer Engagement portfolio
draws on the latest advancements in AI and analytics, an open cloud
architecture, and The Science of Customer Engagement™ to help
customers close The Engagement Capacity Gap™.
Verint. The Customer Engagement Company™. Learn more at
Verint.com.
* Net Promoter, Net Promoter System, Net Promoter Score, NPS and
the NPS-related emoticons are registered trademarks of Bain &
Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.
This press release contains “forward-looking statements,”
including statements regarding expectations, predictions, views,
opportunities, plans, strategies, beliefs, and statements of
similar effect relating to Verint Systems Inc. These
forward-looking statements are not guarantees of future performance
and they are based on management's expectations that involve a
number of risks, uncertainties and assumptions, any of which could
cause actual results to differ materially from those expressed in
or implied by the forward-looking statements. For a detailed
discussion of these risk factors, see our Annual Report on Form
10-K for the fiscal year ended January 31, 2021, our Quarterly
Report on Form 10-Q for the quarter ended July 31, 2021, and other
filings we make with the SEC. The forward-looking statements
contained in this press release are made as of the date of this
press release and, except as required by law, Verint assumes no
obligation to update or revise them or to provide reasons why
actual results may differ.
VERINT, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER
ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER
ENGAGEMENT are trademarks of Verint Systems Inc. or its
subsidiaries. Verint and other parties may also have trademark
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Media Relations Amy Curry amy.curry@verint.com
Investor Relations Matthew Frankel
matthew.frankel@verint.com
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