APRIL UK reveals SME PMI rates

clock

APRIL UK has published the rates for its SME Private Medical Insurance (PMI) plan, which will offer a community rated pricing model.

The pricing model means that premium changes will be dictated by the portfolio as a whole and be consistent across policies, to provide more predictability.

APRIL UK recently launched an SME version of their ‘inSpire' PMI plan available through selected intermediaries, following ‘record sales'.

The inSpire plan offers medical cover with benefits for use at any of the 39 private hospitals within the Spire Healthcare network.

Isaac Lam, marketing manager at APRIL UK, says: "There is often confusion surrounding SME PMI pricing, particularly when there is a large unexplained movement in a group's renewal premium.

"This can impact confidence to recommend from the intermediary and confidence to continue a plan from the SME.

"For us, it's about bringing sustainable premiums to the market and reducing sharp fluctuations.

"We want to make sure any changes to our premiums are fully accountable and justified.

"SME pricing doesn't have to be that complex or confusing."

Further Reading:

Interview: April UK - a small company with a large footprint

AMII confirms Medicash and April UK as corporate members

Private medical insurance handbook published for IFAs

More on Group PMI

Appointments for SunLife and Unum

Appointments for SunLife and Unum

New CMO and Digital Officer

Cameron Roberts
clock 04 March 2024 • 1 min read
Missed early diagnosis for cancer leads uptick in PMI policies

Missed early diagnosis for cancer leads uptick in PMI policies

Employers increasingly rolling out private healthcare to more of their employees

Jaskeet Briah
clock 08 February 2024 • 2 min read
Unum Dental acquires renewal rights for Cigna UK clients

Unum Dental acquires renewal rights for Cigna UK clients

Following Cigna's UK divestment

John Brazier
clock 13 July 2023 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read