Health insurers have paid out a record £4 billion across individual and workplace private medical insurance (PMI) claims in 2024, rising 13% from £3.57bn in 2023, according to Association of British Insurers (ABI).
Around 1.8 million customers claimed on either individual or workplace PMI policies in 2024, which is up 10% from 2023. Claimants on workplace schemes continued to be the primary reason for this increase. In 2024, insurers processed a record £2.6bn in claims for workplace schemes alone, rising 16% year-on-year. The ABI said these claims helped employees and their families to access preventative care and receive timely diagnoses and treatment for acute medical conditions. Overall, the total number of customers covered by health insurance policies increased by 4% year-on-year to 6.5 mil...
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