How Can Health Insurance Companies Reduce Their Carbon Footprint?

by | Feb 8, 2022

Proven Strategies to Increase Paperless Adoption at Your Health Insurance Company

Paperless Digital Solution

Sustainability and environmental protection are now key considerations for governments, most industries, and the general public, globally. The healthcare sector was not an early adopter of environmental thinking, but the rise of ‘green healthcare’ is a sign that it is working towards safeguarding the environment and in doing so, also protecting and promoting people’s health – which, of course, aligns perfectly with every healthcare institution’s core values. This is a fantastic opportunity for healthcare organizations, including health insurance companies, to demonstrate leadership in their communities. It is also a significant cost-saving exercise.

Defining an ESG (Environmental, Social and Corporate Governance) strategy for a health insurance company is, however, a complex and multi-faceted task. But, there are some relatively simple and pragmatic steps that any health insurance company can take immediately to address its environmental responsibilities and move closer to a green healthcare goal.

Is your health insurance company ready to work towards emission goals and at the same time improve your member experience? One easy improvement could be as close as your members’ mailboxes.

Increase eStatement and eDocument uptake

Sustainability is top of mind for many consumers today, making it increasingly likely that they will consider eStatements and eDocuments. By making it easy to “turn off the paper” and showcasing how digital communications both help the environment and improve the member experience, you can achieve paperless adoption rates that would have been unthinkable a few years ago.

Here are a few proven strategies to increase paperless adoption at your health insurance company:

  • Ask your members for their email addresses at every touchpoint.
  • Make ’email address’ a mandatory field on all application forms.
  • Send out an eWelcome Pack – useful numbers, office locations etc. via email to every new email address/member you have; include lifecycle messaging in your online strategy.
  • Make eStatements the default for all new accounts and use transactional messaging to further reduce paper communications.
  • Once a member is enrolled in e-Communications, keep them there with an exceptional digital experience. This can be done by leveraging advanced HTML and personalized video solutions that drive engagement with highly personalized, relevant content.

Remember, your members increasingly want to hear about and be part of your corporate sustainability story. It feels good to play a role in a change that helps the planet. Moving to digital communications is a simple way for members to contribute to your sustainability initiatives, so don’t be shy about asking them to consider it.

Are you ready to deliver a consistently positive member experience, across all channels, while also easing the shift to paperless and moving towards your net-zero emission goals? Schedule a demo to learn more

 

Get help from an environmentally responsible vendor

Health insurance companies understand that while many members will embrace digital communications, there will always be members for whom paper communications are the right fit, or communications that must, by law, be provided in print. The good news is that there are still ways to reduce your carbon emissions while generating these communications.

Operating an in-house print shop can often lead to inefficiencies and increased costs, both in terms of dollars and in terms of environmental impact. One way to avoid these pitfalls is by working with an environmentally responsible Customer Communications Management (CCM) vendor. This way, you can increase the efficiency of your print communications by leveraging modern equipment, resilient processes, and deep expertise for quality. This, in turn, can offer a lower carbon footprint than running older equipment in house, or having to reprint bills and other documents that don’t meet quality standards.

Ecologically conscious health insurance companies are also advised to find a vendor which will print on Forestry Stewardship Certified (FSC) environmentally friendly paper stock and offer householding (delivering multiple combined documents, related to different members of the same household, in a single package, where regulations allow it) to further reduce environmental impact.

How Doxim helps health insurance companies meet their net-zero emission goals

At Doxim, we are proud of the ways in which we help our clients work towards their net-zero emission goals. For example, by enabling clients to deliver eStatements to their customers, in 2020 Doxim CCM (Customer Communications Management) helped drive positive impact for our environment and communities:

  • Saved 145,800 trees
  • Eliminated 6,075 tons of paper waste – an equivalent of paper waste produced by 17,860 people in the US annually
  • 130MM gallons of water conserved – an equivalent of annual water consumption of over 400 Americans or running 93,700 laundry cycles
  • 45MM kWh of electricity saved – enough to power 4130 homes for a year
  • 109MM pounds of CO2 – the amount produced by 9,910 cars in a year

All health insurance members have a common thread-they expect a positive and seamless communication experience, regardless of their position on the paperless adoption curve. By working with Doxim, you can ensure these needs are met, while reducing the carbon footprint of both your digital and paper-based communications.

Let’s discuss how we can align your health insurance company’s unique member communication requirements with its net-zero emission goals. Connect with me

 

3. Expansion of digital products

As banking customer behavior shifts, banks must move with the times, or risk getting left behind. Many banks today are exploring the power and potential of open banking, which can allow them to offer more innovative products and services to their customers, as well as to better compete with fintech companies and other non-traditional financial service providers.

As you shift your banking business model to reach new segments or provide an enhanced array of services, communication becomes even more pivotal to your success. After all, if your customers don’t know which new services they qualify for, or how those services will help them meet their goals, then they are unlikely to explore them further. CCM technology can be leveraged here to provide personalized on-statement messaging that directs customers to the right products and services, as well as 1:1 personalized “explainer” videos to help them get started.

Adjusting your bank’s priorities to thrive in 2023

In an era of constant change, the key to successfully transforming your bank’s business model will be to stay attuned to the changing needs and preferences of customers, and to be open to exploring new opportunities and technologies that can help your FI stay competitive and relevant. But these new opportunities are doomed to fail if you do not clearly communicate their benefits and make it simple for customers to access them.

That is why transforming your customer communication strategy is the best first step to broader digital transformation. By updating your approach to communications to meet omnichannel customer needs, you also position your bank to communicate the benefits of changes in your broader organization, like new or enhanced products and services. The pace of change in banking has never been brisker – but with the right strategic approach to these changes, the future is bright.

Investing in a modern customer communication management and engagement platform is an essential part modernizing your banking strategy, as it can provide the personalized digital experiences that will keep your bank or credit union ahead of the competition. It helps provide a great customer experience, and builds rich relationships, which in turn results in customers for life and a competitive advantage in the rapidly evolving financial marketplace.

How Doxim can address the banking customer communications trends identified and help future-proof your digital banking strategy

banking customer communications trends

Doxim’s experienced consultants and omnichannel platform can help transform your customer experience in many ways, including:

  • Gathering and utilizing customer data to continually improve the personalization of communications.
  • Building trust with customers via communication (via print, PDF, HTML, email, text, and online interactive experiences).
  • Leveraging interactive video to drive personalized digital customer experiences, such as interactive statements, bills, or reports, that offer visual engagement and real-time interactivity
  • Putting customer data, including customer statements, at the fingertips of your service representatives for immediate and personal service.
  • Making a meaningful connection with value-added content, like information about philanthropic activities, on customer statements.

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