Thoughts from the Road

Empowering choice through member level benefits is not about offering endless choices – it’s about finding the right choices for each member. Like Spotify’s algorithm, the ability to guide people to their best option depends on the strategic use of technology. Payers too can offer more choices and effectively sell customized products. Think about car

Seeing my wife pull up her “weekend playlist” got me thinking about the transformational shift of the music industry – from a selection of albums at your local record store to built-for-you playlists customized for your individual ear and available right at your fingertips through apps like Spotify. The music subscription service has mastered consumerization.

Industries are transformed by choice. Consider retail shopping as an example. There was a time when the only choice consumers had was the local general store. These stores offered most of what you needed for daily life – groceries, toilet paper, maybe a few toys. They were small and with limited supply and limited options.