Humana Insurance Hispanic Market Essay Example | Topics and Well Written Essays - 1000 words

Humana Insurance Hispanic Market - Essay Example Speaking of various backgrounds, Humana is also servicing the individuals or customers from varied ethnic backgrounds including the Hispanics. With Hispanics constituting a sizable portion of the population in US, organizations operating in various sectors including the ones in the Insurance sector like Humana are giving extra focus to this section of the population. Although, Humana is carrying out customer friendly strategies in regards to Hispanics, specifically the strategy of localization or customization, when viewed in an overall manner, it is not doing it effectively, and so if it can optimize or improve that strategy, it can give Humana the competitive advantage in relation to the Hispanics Market. According to US Census Bureau, more than 50 million Hispanics currently live in the United States, comprising about 17 percent of the total U.S. population. (Black, 2013). Although, Hispanics are a varied ethnic population, differing in the aspects of country of origin, race, etc., they speak the common language of Spanish. Their population is on the rise and that is making impacts on the health sector as well. â€Å"They are the fastest growing racial or ethnic population in the United States today and are expected to comprise approximately 30 percent of the total US population by 2050.† (Black, 2013). Despite witnessing fast growing rates, the Hispanics continue to face discrepancies regarding health coverage as well as care, thereby making them â€Å"the highest uninsured rate among racial/ethnic groups, with nearly one in three lacking coverage† (Black, 2013). These facts about the Hispanics, apart from reflecting how they are not completely covered under insurance , also brings out the key point of how they are a strong prospective customer base for the insurance companies including Humana. In that direction, Humana has