Allianz Worldwide Care is launching a new PMI plan that offers treatment inside or outside the UK.
Customers can use the international facility both when they are traveling and if they wish to travel abroad to take treatment in an overseas hospital they prefer. AWC says it is aiming the plan at increasingly internationally-mobile high earners who want the flexibility of not needing separate cover when they travel abroad and the choice of the best hospital treatment in the world.
Called Signature, the plan aims to provide corporate clients with a fully portable and transparent health plan which offers a high level of cover for cancer treatment, chronic conditions, routine maternity, routine health checks, dental and optical treatment.
There are two core plans to choose from – Signature Prime and Signature Plus – which cover a range of in-patient and day-care treatments as well as other benefits such as private ambulance, MRI scans and nursing at home. There are also a number of optional add-ons to the core plan, which cover out-patient treatment, routine health checks, GP visits, dental and optical benefits and maternity treatment.
AWC says the fact that UK treatment is amongst the most expensive in the world anyway means offering choice of hospitals overseas does not create a significant increase in costs, and says premiums will be on a par with domestic-only plans of its competitors. It does not expect the launch to cannibalise its existing international business.
Claude Daboul, director of sales, marketing and operations at Allianz Worldwide Care says: ““When designing Signature, we looked at existing plans and more importantly, we looked at the gaps in those plans and compared them to the needs of our clients. There are numerous health insurance plans available, but our findings demonstrated a distinct need for a more transparent and comprehensive product, which also supports the geographically mobile nature of our insured members.
“Health insurance in the UK has become very commoditised, so we took a bold approach in developing something new and somewhat revolutionary for the premium end of the market.
“The competition among employers for senior talent is fierce, and being able to offer a top-end employee benefit such as Signature can make all the difference in terms of attracting and retaining key staff.”