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Coventry/Aetna Health Care Insurance - Assignment Example

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Aetna, Inc. Is an US based health care company that provides a number of consumer oriented health care and traditional insurance products and its related services. The services include pharmaceutical, medical, behavioural, dental, group life, and also disability plans…
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Coventry/Aetna Health Care Insurance
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Download file to see previous pages It was founded in the year 1853 by Eliphalet A. Bulkeley. The company is also ranked in the global fortune 100 list. The customers of the company include governmental units, college students, expatriates, government-sponsored plans, individuals, employer groups, and labour groups. The company mainly operates with three business segments namely large case pension, group insurance and health care. Furthermore the company also has insurance in the form of dismemberment insurance, accidental death policy, and group universal life policy. These insurances offer benefits in the form of adult day care, and nursing facilities. The target segment for this product category includes employers which offers free insurance policy to their employees and the family members of those employees (Yahoo Finance, n.d.). The company also faces intense competition from the competitors. However it mainly competes with four major competitors. The four major competitors of the company are Assurant, Humana, United Health One and Louisiana Blue Health Care Insurance. ...
sion Statement The mission of Aetna is to help the people in achieving financial and health security by offering them high quality and cost effective health care. However the primary intentions are to protect the finances of people during any health related risks. Also the company proposes continuous development of the health care services. These developments are possible with the help of doctors, employers, hospitals, patients, and also public officials (Aetna, n.d.). The company also believes in performing their work with integrity, excellence and accountability, quality service and employee engagement. Hence the mission statement of the company is formulated below. The mission statement will be developed by highlighting various factors. Aetna is trying to help people to achieve health and financial security with high quality products and services during the time of any health related risks. Aetna is also striving to achieve economical stability and offer improved service to the customers. The customers of the company include employer, individuals and linked group. The products are available through various channels and the primary intention is to save the funds of the customers during any health issues. Business level strategy (BLS) of the company is as follows:- Low Cost Strategy: - The low cost strategy of the company mainly emphasizes on maintaining the lowest possible cost. However it does not mean lowest price. Aetna therefore focuses on the resources that increases efficiency and reduces the cost (Albany, n.d.). In the context of pricing the company either lowers the price for gaining more market share or keeps the price according to the market level. Differentiation Strategy: - The Company also follows the differentiations strategy. In this context the ...Download file to see next pagesRead More
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