innovative strategy 2019-06-01

Why Offering Wellness Incentives by Brands could be a Brilliant Strategy

Healthy and happy customers are the fuel for any successful organisation.

By Features Writer
Why Offering Wellness Incentives by Brands could be a Brilliant Strategy

Whether it’s a startup or a franchise-based firm, brand owners are constantly trying to figure out innovative ways for keeping their customers happy. This approach is industry independent, which can be adopted by any investor belonging to any business industry.

Recently, Aditya Birla Health Insurance announced that the firm will be opting for the health management route to keep their customers happy and claims in check.

The initiative is strategised in a manner that it will provide monthly payouts to those who maintain active lifestyles. Also, the firm will be providing chronic care management programs for those suffering from diabetes, hypertension, high cholesterol or asthma.

The Growth Strategy

Businesses usually invest heavily in growth strategies that are essential for a brand’s development. Same is the situation with Aditya Birla Health Insurance. The company is one of the six standalone health insurers in India, which is a joint venture between Aditya Birla Capital and MMI Holdings of South Africa.

According to statistics, both the partners have already invested Rs 705 crore, of which Rs 320 crore came in FY19. Moreover, both the firms have shown interest in investing in additional funds that are required for growth. Depending on their plans, the company is all set to target its profits by 2022-23.

Ensuring Healthy and Happy Customers

Healthy and happy customers are the fuel for any successful organisation. This is why brands are often trying to look out for innovative ways of ensuring happy and satisfied customers.

Mayank Bathwal, CEO, Aditya Birla Health says, “To ensure customers are healthy, the company constantly engages with them. Most companies offer free check-up for customers. On average, this check-up is undertaken by 2-3 per cent of policyholders in the industry.

In our case, 40 per cent of our customers participate in an annual check-up and are aware of their health conditions.”

Introduction of Virtual Care Managers

Introduction of the tech-savvy process for enhancing customer’s expectations is very common in today’s time. Business owners are smartly utilising technology as a powerful tool in order to enhance and develop services that could benefit both the customers and brands.

“As a part of our plan to remain engaged with customers, we have introduced virtual care managers to provide support to policyholders at the time of the claims,” added Bathwal.

Like Aditya Birla Health Insurance, brands could focus on launching an incentivised wellness scheme that could benefit the customers than ever. In fact, the new age customers could enjoy up to 30 per cent of their premium for maintaining active lifecycles by walking a minimum number of steps daily or working out in gyms. 

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