The Health and Wellness market is growing, with demand for services increasing every year and consumers demanding an increasingly personalized, immediate and effective offer.
2020 is the beginning of a decade full of challenges for companies seeking to meet consumer expectations by providing value-added services, using new technologies and extending their geographical reach. With the omnipresence of mobile devices, being available to consumers is insufficient: you need to be with them.
The healthcare industry is witnessing a revolution in the development of strategies, service delivery, operational efficiency and methodologies, forcing companies to evolve rapidly to discover and capture new market segments - a market that is increasingly investing in wellness products with increasing life expectancy - while optimising their resources and skills to thrive in a highly competitive and fragmented environment.
But how do we meet these challenges? Above all, they need to be identified. RNA is attentive to all the changes and trends that the market manifests, observing new global habits such as the increase in consumer spending on health and the development of technologies, data processing and storage and the growing in all areas of activity, while giving priority to what it knows how to do best: meeting the real needs of those who resort to us. Always with the aim of enhancing the quality of our partners' services.
These are some of the trends we will face in 2020, and which will become the norm over the next decade.
Changes in the market:
- There are no local markets: with the increasing mobility of people constantly digitally connected, the delimitation of a market by its geographical location is useless. The positioning of companies together with consumers will have to be a bit like our motto: "Wherever you are, we will be there”;
- New competitors = new business models: the industry landscape is increasingly fragmented and directed not towards mass consumption but towards niche markets with specific needs. The offer will have to be diversified and customizable;
- The client demands: consumers' expectations are high and, with the increase in supply, service providers will have to consider not only the satisfaction of their needs but also to provide a quality personal experience. If you achieve this, you gain not only a client but also a promoter of your brand;
- Increased investment in personal health: the health care industry is not only seeing a growth in demand due to greater purchasing power on the part of consumers but also greater interest in investing in solutions that are financially advantageous to them in the long term. The responsiveness of public services is sometimes insufficient to meet consumer needs, leading consumers to consider other more rapid and individualised offers. Health has become a priority asset;
- Horizontal structures and markets: the integration of services is done in a logic of partnerships between companies rather than the agglomeration of several operations in a single commercial entity, allowing greater specialization and optimization of resources.
- New consumers, new products: with the appearance of new consumer profiles it will be necessary to extend the offer of services and the possibility of integrating different options for the creation of solutions tailored to each client. The added value lies in the differentiation and customization of the offer, providing a holistic experience by offering more options rather than pre-formatted packages;
- Digital services: digital communication is vital, and the creation of online service mechanisms will have to be in the priorities of service providers and partners, for greater ease, efficiency and speed in operations. Today, digital medical prescription and online appointments are practical, for example;
- New ways of customer care: service providers will have to be prepared for multi-channel communication, either in the initial customer care or using telemedicine, through consultations via digital means for non-presential and immediate care, with the guarantee of quality, confidence and clients’ comfort. One of RNA's strengths is its highly specialised service team, which is prepared to face this new paradigm.
- A world of data: digital technologies are not only used to communicate but also to collect, organise, archive and analyse. This is possible thanks to bio-signal monitoring devices and platforms - exercise monitoring bracelets or sleep pattern analysis applications, for example - facilitating the creation of individualised information associated with each consumer for later use. All this information is useful for the development of commercial strategies, for a greater personalization of services, for the establishment of a closer relationship between companies and customers;
- Algorithms predict the future: developments in Artificial Intelligence allow the prediction of epidemic outbreaks or consumption trends through the analysis of consumer behaviour and manifestations in social networks, allowing the creation of real-time responses and the development of commercial strategies;
- Privacy is a key factor: companies, when accessing all this information, will be faithful depositors of their customers' data, with whom they will have to develop a deep relationship of trust. The protection of digital data associated with health is still an area with developing legislation, but to which one will have to pay attention in the coming years.
The consumer is the central focus:
Finally, the most important thing is the consumer and his needs. Modern consumers are participating actors and not passive targets, with their own voice and specific objectives, who can choose the service that best suits them from an increasingly wide and fragmented offer. If we give them a good experience, their voice will also be ours. They are no longer an amorphous mass but well-defined individuals with unique characteristics who must be considered both in the approach and in the commercial proposals, tailored to their needs.
These are just some of the trends we can already see in the flow of the insurance and health care and wellness industry. RNA is aware of all these developments to provide its partners with the right answers without losing sight of our main objective: an effective and quality service, tailored to the client’s needs.
And, wherever you go, RNA will be there. Be there with us.