Disability Insurance is a critical component of a physician’s overall insurance coverage. But for many doctors, this coverage appears to be a significant expense with no lasting value if they remain healthy throughout their career.
OMA Insurance recently developed an additional benefit for long-time DI policy holders that paid out after retirement, helping doctors live longer and more comfortably in their own homes in their later years. Funding this coverage entirely through the reinvestment of premium surpluses essentially made this new benefit free to those who’ve held DI coverage for a significant period of time. It was a great proof point for OMA Insurance being “Not For Profit. All For Doctors.”
Yield developed a segmented launch program that explained and positioned the offering differently to doctors depending on how close in age they were to retirement:
- Older doctors would want to learn more about what’s included in their coverage, and how much coverage they were already entitled to.
- Younger doctors would take a more long-term view of the benefits, but be interested in how much coverage their projected premiums would continue to earn them over the course of their careers.
Each segment received a teaser email weeks ahead of the launch, introducing the product in the context of an “encore” – that little something extra you get as a reward for staying right to the end. The creative included just enough product information to generate curiosity, and made sure doctors knew that – like an encore – this new benefit was something they got for free. This wasn’t a sales pitch, it was OMA Insurance demonstrating their ability to anticipate doctors’ needs and work harder at meeting them.
A robust Welcome Kit continued to play off the encore concept, as well as the sardonic cartoon-style illustrations that have come to represent the brand.
Doctors got a detailed explanation of the three kinds of coverage they’d receive:
- their insurance certificate
- sign-up forms for additional coverage
- and a calculator wheel that allowed them to determine how much coverage they’d already earned, and what they could continue to earn before retirement.
Everything pushed recipients to a dynamic microsite that explained all the coverages in detail, provided FAQs, and a link to the product fact sheet.
“We’ve had a great response to the product from doctors,” said Bruce Palmer, Managing Director at OMA Insurance. “Each new project contributes to building a better story for OMA Insurance, and our membership are really starting to see the difference.”
