There’s just no way to sugarcoat this: US Health Insurer CX Index ratings for 2024 have landed with a resounding thud. This is the second time since 2021 that the industry average rating had a statistically significant decline – and it’s easy to see why:
- Ten brands scored their lowest ratings in five years. Even perennial high-scorers like Humana and Kaiser Permanente had statistically significant declines. These ratings drops were spread rather evenly across the field, so it wasn’t a case where only those below the industry average underperformed their 2023 ratings. What it means: No brand is ever “safe” when it comes to customer experience ratings and no one gets to rest on their laurels.
- Five brands had their first statistically significant decline. In addition to Humana and Kaiser Permanente, industry peers Florida Blue, Blue Cross Blue Shield of Texas, and Anthem Blue Cross Blue Shield earned the dubious distinction of their first significant fall in CX ratings. What it means: Although this was a particularly rough year for CX ratings, see above – no brand is drop-proof.
- Nearly one-third of the industry earned “poor” ratings. Just two years ago, we celebrated a market average at the “OK” level and the absence of any brands in the “poor” category. Last year, we managed to squeak by with the first “good” brand and only one “poor” brand. This year, we have five “poor” health insurance brands. What it means: The cliff edge is getting closer, as brands fail to meet their customers’ expectations.
Our analysis of the ratings dives deeper into specific cuts of the market, notably Medicare-related members, devotees, and customers with choice versus those who have none. We also examine the role that emotion plays, highlighting interesting (and depressing) stats, such as the fact that only 1 in 7 customers who felt one of the top negative emotions is willing to consider purchasing additional products and services from their current insurer.
The future is not bright for health insurers unless we turn this car around right now. Insurers must (re)commit to improving their CX to reverse this trajectory for members and their business.
Check out the report to review the findings for yourself. Schedule a guidance session or inquiry with either of us if you have additional questions or want to discuss what steps you can take to get your CX strategy headed in the right direction.
