Groupama Insurances is to expand business in its accident and health and private medical sectors to ...
Groupama Insurances is to expand business in its accident and health and private medical sectors to form a new division called Groupama Healthcare. It will be part of Groupama Personal Insurances.
The news follows the group's acquisition of the Iron Trades PMI business last July, which prompted an operational review. Parent company Groupama is a key health insurer in France, so the group sees the new division as a natural expansion into the UK market.
Tim Osborne, director of healthcare at Groupama Healthcare, said: "On the PMI side, the bulk of our business will be with groups with five or more employees. We are looking to expand individual PMI business through broker sources, so this move will bring new opportunities for intermediaries in the future.
"Close contact with our customers is imperative in our business strategy. The availability of skilled underwriters able to make the necessary decisions quickly and efficiently, will support intermediaries with professional support and assistance at the point of sale."
According to the company, plans are underway to extend its current panel of specialist brokers and utilise connections with large affinity groups that are already in place within the group. A sales team is to offer support to brokers on a local basis.
The division will be based at new centralised offices in Tonbridge, Kent, along with other units situated in London, Bromley, Manchester and Barnet. the Groupama Healthcare portfolio generates total revenues of £45m.
