Gaining Deeper Insight Into Medicare Purchasing Habits
Vibra HealthPlan came to Benjamin & Bond looking to build a different kind of Medicare Advantage plan. But the information that it had received from focus groups hadn't uncovered anything new. I worked with other team members to design and execute a research plan that taught the stakeholders behind the project important lessons about how consumer impressions of the insurance market had changed.
Our team created three fully actualized insurance products from scratch. We wanted participants to focus solely on the plan design and not ancillary factors, so we didn't brand the fictional companies, but the benefits books covered every possible detail. We recruited research subjects between 63 and 65 and compensated them for three hours of their time.
Participants were presented with the three plans and asked to make a decision on which plan would be best for them by the end of the three hours. The researched was conducted using a think aloud technique, so as the facilitator, I spoke as little as possible, reminding participants to verbalize their thoughts if they became too quiet. The value when far beyond the hard results; Body language, beliefs, misinformation and other subtle factors helped influence our final recommendations to the client.