Standard Life Healthcare has announced it has won 6,500 customers from its competitors since the lau...
Standard Life Healthcare has announced it has won 6,500 customers from its competitors since the launch of its switch private medical insurance (PMI) option last year. The switch option allows policyholders to move to SLH from their current insurer, bringing their underwriting terms with them.
While switch business has been cited as a reason for the lack of growth in the PMI market, Stephen Walker, chairman of AMII, said the news is positive for the waning sector.
"The switch option provides those thinking of cancelling PMI because of cost with a chance to retain their cover. That is good news for the industry," he said.
