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The next generation of health insurance
Against the backdrop of a struggling economy, our nation is getting less healthy - not more1. Amongst this, more people are turning to health insurance2. As a result, the sector will need to adapt in order to remain sustainable and meet the changing needs of consumers as the healthcare landscape continues to shift.
Our member base, which reached 1.7 million in 2022, offers a rich dataset that reflects a model delivering profound results.
Our next generation approach to health insurance has resonated strongly in recent years and the data published in our latest Health Claims and Insights Report is proving it works.
In this report, we explore our insights from 2022, whilst highlighting the most pressing trends currently impacting PMI and how we are moving the market forward as a next generation insurer.
Innovation is needed more than ever
Estimates show that over nine million people in the UK will be living in poor health by 20403. In 2021, the private medical insurance industry experienced its biggest growth since the mid-90s and demand has remained high2.
As a next generation insurer, our focus is on offering your clients products that incentivise better health and provide earlier intervention. whilst also helping you to create a healthier and more engaged client base. Here's how we are changing our health insurance in 2023:
Where to next?
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1. ONS, November 2022
2. LaingBuisson Health Cover report 18 Edition
3. The Health Foundation, 2023