Any agents who are trying to sell any insurance products this year — whether those products protect against medical risk, disability risk, liability risk, or even long-term care (LTC) risk — should be keeping an eye on the Patient Protection and Affordable Care Act (PPACA) exchange system.
The Associated Press estimated last year that public exchange program managers were going to spend about $700 million on advertising, marketing and educational campaigns.
It’s not clear how much the exchange program marketers really have left, but private exchange plan sellers — including companies like UnitedHealth Group Inc. (NYSE:UNH) and eHealth Inc. (Nasdaq:EHTH) — seem to be poised to contribute heavily to the effort.
The managers of the state-run public exchanges, such as New York’s NY State of Health, exchange, are training thousands of paid volunteers and enrollment helpers.
What Your Peers Are Reading
Experienced agents and brokers may want to study the exchange efforts — to laugh at bad ideas, borrow good ideas, and look for gaps in need of attention from nimble producers.
NY State of Health recently posted a webinar slidedeck to show how they’re approaching one specific market segment: “Millennials” — the texting, Facebooking young adults whose low anticipated claims costs and frequent lack of incumbent insurance providers make them especially attractive prospects.
Here’s a look at what that exchange is saying to its exchange outreach people.
1. The trainers are presenting some of the information in the form of a quiz
Many of the people who will be reaching out to young adult PPACA exchange prospects are young adults themselves.
Our American society has been giving young people more and more tests and quizzes — and now those young adults are starting to express everyday communications in the form of quizzes.
2. The trainers are talking to the outreach people about quick-and-dirty prospect segmentation
The trainers are trying to help the foot soldiers down in the trenches that young adult prospects come in many different flavors, with many specific needs.