Morning Briefing: Democrat senators urge DoJ to block health insurer megamergers

Democrat senators urge DoJ to block health insurer megamergers… Brokers important for auto insurance but tech is in demand too… Health at risk from lack of knowledge…

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Democrat senators urge DoJ to block health insurer megamergers
The acquisitions of Humana by Aetna and Cigna by Anthem should be blocked to avoid higher premiums and lower-quality healthcare according to 7 Democrat senators.

The group wrote to the US Department of Justice Wednesday urging antitrust chief Renata Hesse to “challenge these mergers from proceeding and to prevent the damage they would cause to competition and consumers.”

The senators believe that savings gained by the mergers would not be passed on to consumers, while reduced competition will increase health insurance premiums.
 
Brokers important for auto insurance but tech is in demand too
Smaller auto insurers are surpassing their larger rivals when it comes to customer service, largely due to interactions with agents. However, the demand from customers for online services is changing the demand for interactions with insurers.

While overall customer satisfaction declined year-over-year according to a JD Power survey, this was driven by the 17 largest auto insurers; smaller insurers increased their satisfaction ratings with the closer interaction with agents cited as a key reason.

Technology plays a part in overall satisfaction with the greatest gains seen in assisted online interaction where customers visit an insurers website and are assisted by an agent via a web chat feature.

“Insurance customers want their billing problems, policy questions or claims resolved efficiently,” said Greg Hoeg, vice president of U.S. insurance operations at JD Power. “Today, more and more customers are interested in communicating via digital channels. Insurers should take note that the traditional call center representative may no longer be the most efficient and satisfying way to resolve an issue, even a complex one.”
 
Health at risk from lack of knowledge
Diagnoses of serious illnesses is on the increase but a lack of knowledge of how to reduce the chances of developing these illnesses is putting health at risk.

A report from mutual life insurer Royal London reveals that, even when people have family or friends who have developed a serious illness; such as cancer, heart disease, diabetes, dementia, Alzheimer’s, multiple sclerosis or a stroke; and yet still don’t do anything to mitigate their own risk.

 “Our findings suggest that greater knowledge and understanding would help people take active steps to reduce the risks of developing a serious illness. Among other factors, the findings also show a potential link between people taking action against developing illnesses and the instances of these illnesses falling, making a strong case for the nation to start taking some simple steps to lead a healthier lifestyle,” commented Royal London’s Debbie Kennedy.
 

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