APRIL UK has published the rates for its SME Private Medical Insurance (PMI) plan, which will offer a community rated pricing model.
The pricing model means that premium changes will be dictated by the portfolio as a whole and be consistent across policies, to provide more predictability.
APRIL UK recently launched an SME version of their ‘inSpire' PMI plan available through selected intermediaries, following ‘record sales'.
The inSpire plan offers medical cover with benefits for use at any of the 39 private hospitals within the Spire Healthcare network.
Isaac Lam, marketing manager at APRIL UK, says: "There is often confusion surrounding SME PMI pricing, particularly when there is a large unexplained movement in a group's renewal premium.
"This can impact confidence to recommend from the intermediary and confidence to continue a plan from the SME.
"For us, it's about bringing sustainable premiums to the market and reducing sharp fluctuations.
"We want to make sure any changes to our premiums are fully accountable and justified.
"SME pricing doesn't have to be that complex or confusing."
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