Future-oriented Supplementary Insurance offering
Swiss Health Insurance
Definition of market segment and identification of target customers for a Swiss health insurance company
Client
Swiss health insurer
Initial Situation
Market segmentation and target customer strategy
During two strategy projects with a mid-sized Swiss health insurer, we found that there was a lack of alignment across departments regarding customer segments and target customers. Different strategies were being used, resulting in uncoordinated efforts. Therefore, in an interdisciplinary project, the goal was to develop a market segmentation approach and identify target customers for the entire health insurance division, enabling a focused and coordinated alignment of business activities.
Approach
Target customer-focused market segmentation
In the first phase, the goal was to engage the various departments and stakeholders, analyze the different concepts in use, and consolidate insights from the two projects, “Development of an MC Strategy” and “Development of a VVG Portfolio Strategy”. We then conducted a comprehensive market segmentation, including both quantitative and conceptual analyses of the “Moments of Truth” in the supplementary insurance sector. A structured, quantitative target customer approach was developed, defining the health insurer’s target customers based on strategically relevant and quantifiable criteria. To anchor the target customers across all departments and projects, principles based on the 7 P’s were developed in collaboration with management, and the rollout to the departments was closely supported. The result was a significant reduction in complexity, strong alignment across relevant departments, and an improved foundation for effectively focusing on the right customers, thereby enhancing the efficiency and impact of efforts across departments.
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