Norwich Union Healthcare revealed details today of an innovative, flexible group private medical insurance (PMI) modular product for schemes for between 10 to 49 employees.
Norwich Union Healthcare revealed details today of an innovative, flexible group private medical insurance (PMI) modular product for schemes for between 10 to 49 employees.
An extension of their already popular Solutions product, it includes a comprehensive set of core benefits and a selection of additional benefits that the employer has the option to choose from. They can add extra benefits or select from a range of cost containment options and can also mix-and-match the options to fit best with their company structure, their company’s needs and current benefits. This modular approach enables employers to create an affordable healthcare proposition adapted to their needs and budget.
Chris Hanks, head of product management and pricing at Norwich Union Healthcare, said: "The launch of Solutions for 10 to 49 employees follows on from our launch of Solutions for the large group market (50 to 249 employees) in May last year. We believe it to be the most comprehensive group PMI product in the market, as traditional products do not have this flexible, modular approach. It also meets intermediary and client wishes for more choice and has been designed to be very clear and easy to understand."
Hanks continued: "The group PMI market is a key market for Norwich Union Healthcare. The rates for Solutions have been simplified to streamline the process of obtaining illustrations and will make it simpler for intermediaries to do business with us. Solutions will replace all our existing group PMI products for groups of 10 to 249 employees (except Global Care and Global Care Plus). We will migrate existing policies onto Solutions at renewal with effect from 1 September 2004, this will mean that we now offer one corporate proposition to groups of 10 to 249 employees and shows our continued innovation and commitment to meeting our customers’ needs."
To support the launch of Solutions there is a promotional campaign aimed at intermediaries and a new suite of literature, this will be followed by a campaign aimed at corporate customers.
The expansion of Solutions to cover schemes from 10 to 249 employees does not affect Norwich Union Healthcare’s other corporate PMI schemes. Companies with more than 249 employees can still benefit from Norwich Union Healthcare’s Optimum Scheme, which is specifically designed to meet the needs of larger businesses.
Commission payable for Solutions is 15% initial and 5% renewal. Agency terms and applications forms are available on request. The product will be available for new business from 1 May 2004.
Solutions includes access to Personal Health Manager for all employees covered under the scheme. Norwich Union Healthcare has set up a one month free trial* for Personal Health Manager for intermediaries. From 1 March intermediaries should log on at www.personalhealthmanager.co.uk, and register with the one month trial access code: 2C55E90A1. This access code is only valid for March 2004. For more information on Solutions, or for a free one month trial* of Personal Health Manager intermediaries should call the Healthcare Bureau on 0845 3000 649.
-ends-
Press office contacts:
Lorna Wiltshire 01904 723236 Out of hours 07788 471849
James Evans 01904 452791 Out of hours 07790 487105
Notes to Editors
Journalists wanting a limited free trial to Personal Health Manager please visit www.personalhealthmanager.co.uk and log in as a first time users with access code C216468C6. Once logged in this code will allow you to trial Personal Health Manager as a registered user from now until 31 March 2004.* DO NOT PUBLISH THIS ACCESS CODE – IT IS FOR JOURNALIST USE ONLY. The GP Helpline and Stress Counselling helpline are not available as part of any trial. Personal health Manager is available for use in, and by residents of the UK, Isle of Man and Channel Islands only. Solutions product benefits
Solutions core benefits
- In-patient treatment
- Day-patient treatment
- Consultation, diagnosis and treatment as an Out-patient
- NHS cash benefit
- Key hospital list
- Online access to Personal Health Manager at www.personalhealthmanager.co.uk, including unlimited access to 24 hour GP Helpline and Stress Counselling Helpline.
Solutions options
- In-patient and day-patient psychiatric cover
- GP referred services – radiology/pathology, chiropody, podiatry, homeopathy, osteopathy, acupuncture and specialist consultations for non-acute conditions.
- Dental & Optical Cover - cash towards optical, routine dental expenses and accidental dental injuries.
- Extended Hospital List – Signature Hospital List or Trust Care Hospital List
Solutions cost containment options
- Six Week Option – private in-patient or day-patient treatment if NHS waiting list is longer than six weeks.
- Member excess - Ł50, Ł100, Ł150 or Ł200 payable once per person per policy year
- Selected benefit reduction – option to remove cover for less essential extras e.g. abnormal conditions of pregnancy, investigations into infertility, oral surgery and overseas cover.
- Reduced out-patient cover e.g. cost saving option by reducing out-patient cover. Provides cover for 2 out-patient consultations, radiotherapy and chemotherapy and out-patient diagnostic tests related to in-patient or day-patient treatment.
- Solutions options matches existing product ranges with one exception NHS cash benefit for customers on Personal Care and Select Care where the number of days benefit is reduced from 30 days to 25 days.
- Optimum is available to companies with 250 or more employees. This is a product specifically designed for larger schemes to ensure they receive a comprehensive product with benefits tailored to their needs.
Full details of the cover and exclusions are given in the Policy Wording, a specimen copy is available on request. Applications are required.
- Norwich Union is the UK's largest insurer. It is a leading provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 70% of the company's long-term savings business in the UK
- Norwich Union has strategic alliances with building societies and other leading UK brand names including Tesco Personal Finance and The Royal Bank of Scotland Group.
- Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.
Norwich Union Healthcare
- Norwich Union Healthcare was founded in 1990 as the healthcare arm of Norwich Union and now provides a range of income protection and private medical insurance products that cover over 750,000 lives. It is one of the largest providers of income protection and private medical insurance in the UK.
- Norwich Union Healthcare is a member of the General Insurance Standards Council, the Association of British Insurers and the Financial Ombudsman Service.