Question

What is the Postioning strategy Osar insurance uses and what strategy can they use to enhance the company

Answer 1

answer-

The position strategy is the one how a company set its image in the mind of its customers. The oscar company sets its image or position itself by using disruptive technology or we can say that It uses differentiating/innovative products or services to position its self because Oscar has tried to disrupt health insurance with a focus on customer experience and technology.

In simple terms, the company’s goal has been to put a human face on private health insurance. It aims to make its customers love health insurance — as opposed to seeing it as a necessary evil — and put Oscar at the center of people’s health and wellness needs.Oscar has raised more than $700M, with the aim of disrupting health insurance by building a direct relationship with customers.

Unsurprisingly, Oscar does not look, feel or speak like other health insurance brands, but if the considerable hype is to be believed, the experience for members they deliver is the real brand differentiator. Oscar’s ‘Simple’ plan provides free checkups and preventative care, generic drugs without a referral, and telemedicine – where members can talk to a doctor over the phone any time, with the promise of a short wait (less than an hour). By using Oscar’s Flash fitness tracker, customers can also get paid for working out and staying healthy.

Oscar’s brand identity is fresh, contemporary, friendly and very ‘health insurancy’. The brand voice is a clear reflection of the brand personality – simple, engaging, friendly and effortless.

The company can use of social media to market its products and services so that more awareness about health insurance can be increases in the public. Company can use mobile applications to enhance the user experience which would gives it a competitive advantage over other private insurance companies.