Description Of The Business Opportunity

Satisfactory Essays

Description of the Business Opportunity
Statics indicates that more than 47 million non-elderly American adults were uninsured in 2012. Among the reasons identified by the large population of uninsured individuals is low income. The low income implies that they have little disposable income, and therefore they spend a little on food and other daily survival necessities (Bailey, 2012). Sixty one percent of the respondents stated that they would seek insurance services if a company offered them at affordable costs that are relative to their income. Only 1.5% of the uninsured population perceived that they did not require insurance.
Similar to other industries in the food processing industry, poultry companies do not offer high wages for their employees (Finkelstein, et. al. 2012). Therefore, the workers cannot subscribe to the insurance services. Ninety eight percent of the uninsured adults perceive that insurance is necessary for accessing health services, and they admit that they need it. However, low wages hinder them from accessing the service (Davies, 2011). Insurance companies have a business opportunity to provide a customized insurance policy for the poultry firm workers (Creighton, 2012). The health insurance policy should be customized in order to cover the workers health under low wages. The insurance company can collect the premiums from the workers or from the employers.
Purpose of Investigation
Uninsured adults stand a higher chance of premature death with 25%

Get Access
Get Access