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Health Insurance - Canada - November 2018

OVERVIEW
Regional classifications
Income
Scope
Definition
EXECUTIVE SUMMARY 
The issues
Drug and dental are the most common health insurance products
Figure 1: Ownership of supplemental health insurance products, September 2018
Sun Life, Manulife and Great-West Life are used more
Figure 2: Choice of provider (all channels), September 2018
Major life event is the top purchase trigger
Figure 3: Purchase triggers for buying additional health insurance (any rank), September 2018
Limited interest in buying health insurance through apps
The opportunities
Opportunities among underserved segments: over-65s
Quebecers have less dental and eye care insurance
Figure 4: Ownership of dental and eye insurance, Quebec vs overall, September 2018
Younger consumers and men are more digitally engaged
Figure 5: Digital behaviours related to health insurance (select), by age, September 2018
Recommendations from friends/family key trigger for younger consumers
Figure 6: Purchase triggers for buying additional health insurance (any rank), 18-44s vs over-45s, September 2018
Linking triggers to purchase decisions
What it means
THE MARKET – WHAT YOU NEED TO KNOW
Canada’s population is aging
Aging population is good news for health insurance companies
OHIP+ changes
Evolving regulations around cannabis
MARKET FACTORS
Canada’s population is aging
Figure 7: Population aged 0-14 and 65+, as of July 1, 1995-2035*
Aging population is good news for health insurance companies
Figure 8: Canadian population, by age, 2016
Health overview and risk factors
Obesity and sedentary lifestyles
Alzheimer’s/dementia
Smoking
Stroke
Overview of the Canadian healthcare system
Healthcare spending in Canada
OHIP+ changes
Evolving regulations around cannabis
KEY PLAYERS – WHAT YOU NEED TO KNOW
Manulife announces plan to transform its Canadian business
RBC Insurance creates new digital solution for group benefits clients
GroupHEALTH enters into medical cannabis agreement with producer
Manulife and others launch medical marijuana programs
Sun Life to offer virtual healthcare services
INNOVATIONS & INDUSTRY DEVELOPMENTS
Manulife announces plan to transform its Canadian business
RBC Insurance creates new digital solution for group benefits clients
GroupHEALTH enters into medical cannabis agreement with producer
Manulife and others launch medical marijuana programs
Sun Life to offer virtual healthcare services
MARKETING CAMPAIGNS
Manulife quizzes Canadians
RBC still wants to help Canadians “get” insurance
Figure 9: RBC Insurance, Your Paycheque – We’ll Help You Get It, April 2018
Selected campaigns from Mintel Comperemedia
Pacific Blue Cross targets BC residents
Figure 10: Pacific Blue Cross critical illness insurance online advertisement, September 2018
THE CONSUMER – WHAT YOU NEED TO KNOW
Drug and dental are the most common health insurance products
Sun Life, Manulife and Great-West Life are used more often
Major life event is the top purchase trigger
Younger consumers are more digitally engaged
Around one in three have submitted an online claim
PRODUCT OWNERSHIP
Drug and dental are the most common health insurance products
Figure 11: Ownership of supplemental health insurance products, September 2018
35-54s have higher ownership of most products
Figure 12: Ownership of supplemental health insurance products, by age, September 2018
Opportunities among underserved segments
Over-65s
Figure 13: Ownership of critical illness, long-term care and short-term disability insurance products, over-65s vs overall, September 2018
Quebecers have less dental and eye care insurance
Figure 14: Ownership of dental and eye care insurance, Quebec vs overall, September 2018
Parents with children under 18 at home generally over-index in ownership
Figure 15: Ownership of supplemental health insurance products (select), by parental status, September 2018
Repertoire analysis of ownership
Figure 16: Repertoire analysis of health insurance ownership, September 2018
Higher income households much more likely to have five or more products
Figure 17: Ownership of five or more types of health insurance, by household income, September 2018
PURCHASE CHANNELS
Majority of health insurance is through employer coverage
Figure 18: Purchase channel, by product (most recent purchase), September 2018
Critical illness relatively more likely to be bought individually
18-34s more likely to purchase directly
Figure 19: Direct purchase of health insurance products (select), 18-34s vs overall, September 2018
Lower income earners more likely to buy through affinity groups
Figure 20: purchase of health insurance products through affinity groups (select), by income, September 2018
CHOICE OF PROVIDER
Sun Life, Manulife and Great-West Life are the leading providers
Figure 21: Choice of provider (all channels), September 2018
Regionality brings out some differences
Figure 22: Choice of provider, Quebec vs overall, September 2018
Bank insurance subsidiaries are relatively more popular with small business owners
Figure 23: Choice of provider (select), small business owners vs overall, September 2018
Asian Canadians also more likely to use bank insurance subsidiaries
Figure 24: Choice of provider, Asian Canadians vs overall, September 2018
Sun Life, Manulife and Blue Cross used more often in the individual market
Figure 25: Choice of provider (by purchase channel), September 2018
Manulife Affinity Markets, Blue Cross, TD and Sun Life used most often in the affinity space
PURCHASE TRIGGERS
Major life event is the top purchase trigger
Figure 26: Purchase triggers for buying additional health insurance (any rank), September 2018
Recommendations from friends/family key trigger for younger consumers
Figure 27: Purchase triggers for buying additional health insurance (any rank), 18-44s vs over-45s, September 2018
Insurance brokers and wearable devices more likely to influence younger consumers and men
Incentivized health plan a trigger for around one in four men
Figure 28: Purchase triggers for buying additional health insurance (any rank), men vs women, September 2018
DIGITAL BEHAVIOURS
Limited interest in buying health insurance through apps
Around one in three have submitted an online claim
Figure 29: Digital behaviours related to health insurance, September 2018
Younger consumers and men are more digitally engaged
Figure 30: Digital behaviours related to health insurance (select), by age, September 2018
Around one in six men have obtained a quote online
Figure 31: Digital behaviours related to health insurance (select), by gender, September 2018
TURF Analysis
Methodology
More than half are digitally engaged consumers
Figure 32: TURF analysis – digital research and purchase, September 2018
Figure 33: Table – TURF analysis – digital research and purchase, September 2018
GENERAL ATTITUDES TOWARDS HEALTH INSURANCE
Around half prefer to bundle products with one provider
Figure 34: General attitudes related to health insurance, September 2018
Peace of mind is a big factor influencing older consumers
Figure 35: General attitudes related to health insurance (select), 18-54s vs over-55s, by age, September 2018
Flex plans appeal more to younger consumers
Around one in six prefer to buy through associations
One in four consider incentivized health insurance fairer
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Consumer survey data
Abbreviations and terms

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