Groupama has revamped its private medical insurance (PMI) proposition with the promise to give specialist healthcare intermediaries "a real alternative."
Although it has had a presence in the PMI market for several years, the provider has overhauled its operating systems and rebranded itself as Groupama Healthcare.
The move comes after the completion of a 12-month review into the PMI market, the views of healthcare intermediaries and an examination of the business opportunities available.
Announcing the rebranding, distribution and customer service director at Groupama, Amanda Blanc, conceded that in the past the firm's offering has left a lot to be desired.
"Previously our healthcare proposition was not very focused. We tried to handle quotes from all brokers who approached us regardless of our ability to underwrite them."
"Our review was about focusing our business, looking at who the providers are, who the intermediaries are and what kind of business they do," added Blanc.
The review identified a core 150 PMI brokers operating in the market, with an eye to targeting around 50% of these intermediaries.
Many of the changes to Groupama's offering have been suggested by a new Healthcare Advisory Board of 10 healthcare brokers who offer their opinions on the direction in which the business should be moving.
The new initiatives that Groupama Healthcare have unveiled include the creation of key account managers who will provide groups of 15-20 selected brokers with an individual support service; formal service level agreements, so advisers know exactly how long it will take for a quote to be turned around; and quote exclusivity over general IFAs.
In addition, the provider has completely restructured its underwriting and operations team in a bid to improve the way that claims are handled, and has further developed its electronic trading facilities.
Despite such services, some intermediaries have cast doubt on how big an impact Groupama's changes will have on the PMI market.
"Once you start to use BUPA, AXA PPP healthcare, Norwich Union and Standard Life Healthcare, it is hard to break out of that ilk," says Brian Mulreany, marketing director at Essential Healthcare.
"Also, in general, their rates are better and these are names that clients know and trust."
Blanc was adamant however, that through targeting a small segment of the PMI market, Groupama Healthcare will see healthy growth.
"It was never our intention to go head-to-head with BUPA and AXA PPP healthcare. We have focused our business and our rates are competitive in the areas that we wish to be competitive in," she added.
