BCWA Healthcare is to offer a 25% discount on "a range of policies" through a Scottish healthcare in...
BCWA Healthcare is to offer a 25% discount on "a range of policies" through a Scottish healthcare intermediary, writes Robyn Hall.
The offer, which runs from 1 December, comes after research revealed hospital costs in Scotland are 25% cheaper than the rest of the UK.
The offer is being run through Blackmore Healthcare, a subsidiary of PI insurer Blackmore UK and one of the largest healthcare intermediaries in Scotland.
Philip Fowles, BCWA sales and marketing director, said: "Our research among intermediaries has shown hospitals to be some 25% cheaper in Scotland than the rest of the UK. We believe our prices should reflect that.
"I cannot go into product detail, but this is a special arrangement whereby our Preferential products can be sold by the Blackmore salesforce at quite a substantial discount.
"Scotland is a country in its own right and we are pleased that we have put together a scheme that suits the individual needs of the Scottish people."
Fowles stressed that for the time being the move will be a test market exercise and BCWA is offering the deal exclusively to Blackmore. But he said it would be difficult to call what the market will look like in the next 12 to 24 months.
He added: "Before we could offer this kind of deal to anyone else we would have to consider the impact, both on ourselves and the market. This is just the start of a working relationship, but who knows what will happen in the future."
John Ritchie, marketing manager at Swiss Life Employee Benefits, said: "I think the biggest issue in stabilising PMI is provider costs. If you can get provider costs under control then that will stabilise price. From a corporate buyer's point of view that is what is needed."
For a male or female aged 35 next birthday, BCWA currently offers Band A Preferential cover at £88.19 per month. A 25% saving on BCWA's policy would take £22.08 off the monthly premium.
