Growth in provider business has led to intermediary partnership proposal
Medicals Direct has announced a move into the intermediary market as services reach saturation in the provider sector. The medical solutions provider sees forming links with online and conventional intermediaries and networks as the logical next step in the development of its tele-interviewing operation.
The company is said to be in advanced talks with a 'prominent' online life insurance intermediary. The deal will enable the intermediary to collect medical evidence using Medicals Direct's tele-interviewing services.
Medicals Direct chief executive Mike Benton, said: "By partnering with progressive intermediaries we extend the scope of the benefits for clients, intermediaries and insurers alike. The gains include substantial cost savings compared with GP reports, improved efficiency and swifter underwriting and commission payment."
Medicals Direct has seen its business with providers multiply four times since September and is currently completing around 2,000 tele-interviews a month.
Noting that this quarter will see more business than in the whole of 2008, Benton said: "Tele-interviewing is fast becoming the standard way of doing business in this industry and we are expanding offices in Stanmore and Lincoln, which will be run by underwriters, to cope with expected business levels."
He added: "Life insurers of the future will jettison a large part of their administrative burden by outsourcing virtually all aspects of proposal and claims handling."
Benton also announced the firm is to launch a tele-dermatology service.
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