Our CEO Jim Dowdall spoke to InBusiness about the company’s continued success in the Irish market.
Q: Have the recent months and the last year been successful for GloHealth?
A: Yes, hugely so. It is almost two years since we launched GloHealth and in that time we have had unparalleled success which, I am delighted to say, continues today. In just 2 years over 90,000 customers have switched to GloHealth because we responded to the challenges health insurance customers face today. With GloHealth, our customers can tailor their health insurance cover to meet their own particular needs, giving them greater control over their health insurance spend.
Q: What factors drive the organisation?
A: Put simply, it is about driving customer focused innovation and delivering the best value for our customers. Right from the start we redefined health insurance by allowing our customers tailor their health cover to suit their needs, not ours. No longer does it need to be ‘one size fits all health insurance’. We’ve further built upon that approach with the recent introduction of our next generation tailored cover, which allows people control the cost of their health insurance by only paying for the cover they need. A culture of innovation permeates through everything we do in GloHealth. For example, when it comes to claiming, our ‘scan and send’ claims service means you can claim as you go and you no longer have to wait until the end of the year to claim, when finding all of those receipts can challenge even the most organised of us.
Q: How do you measure GloHealth’s success?
A: It is of course our customers who determine how successful GloHealth is, we understand fully that our success will continue to be dependent on our customers recognising that what we do is different and best responds to their needs. The fact that over 90,000 customers have already made the decision to switch to GloHealth is a measure we are very proud of. We are also delighted that our customers include many of the largest and newest companies operating in Ireland. Successful companies like Facebook, Dell, Boston Scientific Ireland, TripAdvisor, Kleinwort Benson Investors and Airbnb have all chosen GloHealth to be their health insurance provider.
Being recognised by InBusiness at the end of 2013 as the ‘Best Private Health Insurer’ in Ireland was also pleasing for our team but at the end of the day it is the number of customers, individuals and companies alike, who decide that GloHealth is the best option for them that is our key measure. That’s why a relentless focus on always responding best to our customer’s needs is part of our DNA.
Q: How important is listening to consumers, and responding to their needs?
A: Any successful company knows how important it is to continuously listen and respond to the needs of your customers. It is no less important in the health insurance industry, particularly when you consider the ongoing affordability challenge facing so many customers. We continuously research and maintain a real understanding of the needs of health insurance customers. This informs all we do.
The fantastic response of health insurance customers to GloHealth over the last 2 years demonstrates that this is time well spent. Our job is to continue to respond to the challenges faced by our customers. The recent launch of our next generation tailored cover demonstrates this with GloHealth customers now having even greater flexibility to tailor their benefits and control the cost they pay for their health insurance cover.
Q: Universal health insurance is targeted for 2019 – will this be a positive step for Irish health insurance?
A: The recent announcement and the release of the white paper on universal health insurance is positive, because it means that real debate on the future of health care in Ireland can now start. It is important that all stakeholders have an opportunity to engage and GloHealth will actively participate to shape the future for this market, a future which must have customer’s interests at its core. However, while UHI is the stated intent for 2019, it is also critically important that no one loses sight of the challenges facing health insurance customers today. We will continue to work on behalf of our customers to ensure their interests and needs in 2014 and 2015 are addressed.
Q: How important is competition for the Irish private health insurance market?
A: Our view is quite simple – competition is a good thing. There was a competitive deficit in the market and since we launched GloHealth has brought an injection of innovation and value. That is very positive – health insurance customers now have real alternatives and they can be satisfied that they are getting the best value for their health insurance spend.
Q: What are corporate customers searching for in regards to health insurance?
A: Corporate customers are no different to individuals – they are looking for best value with innovative benefits. Companies recognise that health insurance is an important benefit for their employees and it is clear that more and more corporate customers are now shopping around. We’re seeing an increasing number of companies consider their options at an earlier stage, not waiting to just before their renewal date, so that they can make sure they have a health insurance solution which delivers greater and more sustainable value.
Source: InBusiness | Q2 2014