Health & Protection’s individual PMI adviser research recognised two insurers as doing the best to limit premium inflation.
The 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.
Subjects covered include the overall state of the market, expectations for short-term demand, customer buying habits and pressing industry concerns.
Medical and premium inflation was the greatest concern for intermediaries who were generally underwhelmed by insurers’ attempts at managing its effects and communication around the subject.
However, they highlighted WPA and Bupa as the two insurers who had been most effective in this area.
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Advisers were also given the option to comment directly on the management of premium inflation in individual PMI policies.
Transparency and consistency of inflation figures and the reasons were the most common issues cited by intermediaries who responded.
This lack of transparency and inconsistent approaches has triggered anger among intermediaries, with variations in medical inflation across providers being a particular example raised by several intermediaries.
The full results and detailed findings from the research are available in the full report.
