Cut private cover costs using health promotion

The private medical insurance industry is beginning to wake up to the fact that new models of care are needed to address the rising cost of healthcare and changing consumer expectations.

Andrew Scott, director at insurer Vitality, said the introduction of new technology such as virtual consultations was one solution.

He said: ‘Although we have been a very static PMI market for the last ten years, there’s a lot of movement in the space: the rise of wearables, preventative programmes… a wide proliferation of technology and the rise of virtual consultation services. 

‘The question for us as an industry is: Are we truly meeting society’s expectations with the products and services that we are delivering?’