Vitality’s business model has been taking the business world by storm. With its unique offerings encouraging employees to stay healthy while being loyal to their platform, it’s no wonder other private health insurance companies are wanting to adapt their models to something similar.
Keep reading to find out how you can build your own vitality-like offering for businesses to help retain customer loyalty.
What is Vitality?
For those of you who aren’t yet familiar with Vitality, they are an innovative business health and life insurance that rewards employees for being healthy. By encouraging a healthier lifestyle, employees can earn points. The more points they earn, the higher their Vitality status which can then be turned into rewards, keeping employees motivated.
Vitality is a fantastic scheme that not only promotes health and wellness amongst workers but also builds an extremely loyal customer base. As the majority of health insurance customers only contact their insurance providers when they either need to make a claim or renew their policy, Vitality’s platform gives customers a reason to constantly interact and stay engaged.
How does Vitality compare to other health insurance companies?
Compared to other private health insurance companies, Vitality stands out as a leader purely because of their approach to customer loyalty. At Stubben Edge, we fully understand the importance of customer loyalty and how it can significantly impact a business. While certain competitors offer both treatments and insurance, they lack active and loyal customers.
Customer loyalty means that clients are engaged and focused on your company. With great customer services, exclusive offers and forward-thinking features customers are more likely to return, keeping your company at the forefront of their minds and even recommending you to others.
How to build a Vitality-like offering for businesses?
Despite its popularity Vitality doesn’t work for every business. This means there’s room for you to fill the gap in the market and create something unique and unmissable. One of the biggest features Vitality lacks is communication. While their marketing strategies are strong they are still fairly disconnected, with responses to customer questions taking up 72 hours.
With our Stubben Edge loyalty platform, you can easily build a Vitality-like offering for your business. Fully customisable to your individual needs and white labelled you can really make the platform you own. With exclusive offers, discounts and rewards to retain and incentivise clients, plus marketing features, the ability to add your own products to increase profit and 24/7 communication with online help desks.
Learn more about our online loyalty platform for insurance brokers.
With how competitive the insurance market currently is, find out what you can do to stand out as an insurance broker.