Increased early intervention, use of technology and support for wellness will shape added value services in 2019, RedArc Nurses has predicted.
Christine Husbands (pictured), managing director of RedArc Nurses, warned that the pressure is on for insurers to differentiate their products, for advisers to add value and for employers to see a return on investment.
“Added-value benefits have been delivering on this for years but 2019 will be the year when added value is no longer simply a ‘nice to have’ but a core expectation of products and services – less of the ‘added’ and more of the ‘value’,” she said.
According to RedArc, insurers increasingly recognise the value that additional services bring to the customer.
At one time, value-added services were viewed as a nice-to-have, but now they are viewed as an essential part of the benefits they provide, it said.
The range of value-added benefits now includes access to GP services, second medical opinions, oncology specialists, nurse-advice services, clinical assessments and access to specialist mental health support.
RedArc also believes technology in value-added services will be a trend over the coming months.
“The driver is to increase interactivity and engagement,” it said. “We’ll see more development in apps and online resources that can help support a range of issues from mental health to physical health, as well preventing ill-health by helping people live healthier lives.”
There is also an increasing focus on wellbeing and an understanding of the benefits of early intervention.
“Insurers need to fully engage with the early-intervention aspect and the opportunity to improve wellness, rather than viewing them purely as an add-on. When this aspect is embedded in the proposition, they’ll see the most benefit,” RedArc said.