Advisers are largely positive about the current and short-term state of the individual private medical insurance (PMI) market.
However, Health & Protection’s individual PMI adviser research found sentiment had slipped slightly from last year.
Intermediary income had also generally increased across the market but the scale of rises appeared to be lower as were expectations for the next year.
Health & Protection’s exclusive research of more than 150 advisers operating in the UK individual private medical insurance (PMI) market explores key adviser experiences, sentiment and future expectations.
REQUEST YOUR COPY OF THE INDIVIDUAL PMI ADVISER RESEARCH HERE
Advisers also gave their thoughts on what needed to change or be improved in the industry.
Rising medical inflation and tighter consumer budgets made pricing the biggest issue raised by advisers.
Underwriting, product and service improvements, commission, dual pricing and ways to grow the market were also key issues raised.
Intermediaries who were generally underwhelmed by insurers’ attempts at managing premium inflation and communication around the subject, however, they highlighted two insurers who had been most effective in this area.
The full results and detailed findings from the research are available in the full report.
