Bupa to stop selling individual PMI through intermediaries
Bupa is to stop selling private medical insurance (PMI) to individuals through intermediaries.
Britain's largest PMI provider said that "challenging" market conditions, a fall in the number of leads and high business acquisition costs meant that from the end of next month, brokers will no longer be able to sell its PMI products to individuals or group leavers.
Bupa's ClientChoice, Bupa Care, Local Care, Local Hospital Care and Essential Care products will no longer be offered from 31 August this year to all new and ex-group scheme business, with the exception of specific affinity arrangements.
Linda Wallace, head of intermediary management at Bupa Health and Wellbeing said: "Challenging market conditions mean we need to continually scrutinise our products to ensure they are both meeting customer nees and are distributed in a way that is commercially viable".This entry was posted on Friday, July 13th, 2012 at 12:51 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.