As the global pandemic made many Australians prioritise their health, personal health care remains at the forefront of consumer minds. Australia has one of the most dynamic and competitive health insurance markets in the world, which is putting greater power in the hands of consumers who are mandating change and seeking initiatives more than ever before.
Against a backdrop of cost-of-living challenges, personalised communications, frictionless services, connected experiences, reduced policy pricing and lower out of pocket expenses, are key expectations from members.
With savvy and budget conscious customers performing cover reviews to save money, switching to different private health insurance providers, or leaving the industry all together, loyalty programs are proving to be valuable arsenal to attract new customers and to retain existing ones. The loyalty tool is helping deliver improved member experiences, bolstering the value proposition, driving everyday value and savings, while rewarding and recognising tenure.
In launching Life Rewards, Bupa’s new reward and recognition program, Bupa has delivered an industry leading loyalty solution, which is the first of its kind for any Australian private health insurer.
As members felt that everyday value was lacking from maintaining private health insurance, Bupa worked with its members to design a solution that would better recognise and reward Bupa member loyalty. With that mission, Bupa listened, and Life Rewards was born.
In order to deliver this industry leading solution, Bupa partnered with EonX, a global loyalty provider specialised in delivering enterprise solutions to some of the world’s largest organisations, to deliver an innovative and digitally led customer loyalty program.
EonX understood the importance of Life Rewards and its success to Bupa – from the delivery of everyday value and savings proposition to the introduction of Tiered Rewards, which offers big brand savings that are elevated by five member tiers, depending on a member’s tenure.
Life Rewards also has a mobile solution that is integrated into the myBupa mobile app allowing members access to Life Rewards and their digital eWallet on the go, all in the palm of their hand.
Life Rewards gives Bupa members access to more than 100 discounted eGift Cards, discounted cinema experiences, 10% off at more than 300 restaurants Australia wide, the ability to earn Life Dollars through cashback offers, access to discounts with leading retail brands, competitions and much more.
And this is just the beginning, as EonX and Bupa continue to partner in delivering new value-added offers through a sleek digital experience that enables greater personalisation, Bupa will continue to evolve its offering and improve its overall member experience whilst adapting to market trends and meeting member demands.
Life Rewards is proving to be popular among Bupa members with positive results from growing member registrations, activations, retention and NPS. New members continue to join the program daily with overwhelming feedback about how members are saving on everyday essentials across every facet of life.
To learn more about Life Rewards click here.