Making money as a meta-health insurance?
In Switzerland, health insurance is mandatory. There is a government-defined base package which every health insurance must offer, and applications cannot be declined. Premiums differ from county to county, based on the individual insurance's "risk structure", but also simply how efficient the company is organised.
Checking offers for myself, I find the lowest monthly premium to be about CHF 350.00, and the highest CHF 520.00. This is for the exact same coverage.
Every year in November, everyone has the possibility to switch insurance companies (thus you're stuck for 1 year). Now here's the kicker: less than 10% annually change their insurance company.
So I'm wondering if this would be a business model: have people sign up with your company, and let them sign an agreement that you can choose their insurance company for them. They pay you whatever their premium is when they sign up, and you optimize their choice of insurance company. To be clear: this would NOT be another insurance company, simply a broker which re-signs customers annually
to the cheapest insurance company.
Is anyone doing this? (Must say, I'd love to see this, but am involved in other projects, so I won't follow up on this)
For the successful functioning of your business, I would like to draw your attention to the development of an application for health insurance. In the world of technology, this is becoming a necessity https://www.cleveroad.com/blog/how-to-create-a-health-insurance-app/
You see it a lot in energy markets. I've not seen it in health insurance but I could see it being a thing I just haven't noticed fairly standard affiliate play though it's a bit trickier with the cheapest wins model since they are also the least likely to be paying affiliate commissions 🙂
I wouldn't bother with commissions, but take part of the savings compared to what the customer would be paying without switching. I wonder if there's some legal issues here in Switzerland preventing that kind of offer.