Health Compass is launching a white label version of its international private medical insurance (IPMI) product sourcing platform which can be fully branded and plugged-in to adviser websites.
The system is suitable for individual and family IPMI business and will allow clients to self-serve their needs though intermediaries’ own websites using its application programming interface (API) capabilities.
Health Compass told Health & Protection four of the 12 providers available through the system were Allianz Partners, Bupa Global, MSH International and Now Health International, with a total of 50 products available.
The platform will allow clients to see product options based on the lifestyle and cover requirement information they have entered.
It will compare products by premium and also cover quality through the Health Compass AI capability.
Health Compass told Health & Protection it offered a number of payment approaches for intermediaries wanting to use the system, depending on the firm’s maturity and scale.
“For experienced brokers, the technology is offered on a license basis where the cost benefit is in the significant efficiency savings they will make on removing the need for manual collation of quotes and renewals,” it said.
“For brokers evolving their capability, we offer a multitude of services and can work commercial arrangements that best suit their business plans.”
The provider also confirmed that intermediaries will continue to own their customer.
Open in UK and Europe
Regarding which locations the service can be used in, the firm added: “We focus on the country of sale and in the UK and Europe, we are fully open for business providing solutions for all international medical insurance scenarios.
“We are developing more localised solutions in the Middle East and Asia with our broker contacts currently, so watch this space.”
Health Compass CEO David Eline (pictured) said the system “allows any broker with access to individual customers, or schemes with group leavers, who have historically been put off by what they see as complex and time-consuming business, to easily trade in this huge and growing global market.”
He added that “after a long time developing and re-focusing the capability and approach” of the system the firm will be engaging heavily with brokers over the coming months.
The Health Compass product sourcing system was originally launched in April 2022.
In December 2022, Eline spoke to Health & Protection about his plans for the platform and ambitions to potentially make it a network of advisers, connecting firms and people to support transactions.