Innovation is key to UK PMI sales

Product innovation and the exploitation of alternative distribution channels will be essential if mo...

Product innovation and the exploitation of alternative distribution channels will be essential if more people are to buy private medical insurance (PMI) in the UK, according to Datamonitor. The independent marketing analyst said the industry is facing dual problems of static market penetration and increasing claims costs, forcing premium rates up. James Allingham, Datamonitor analyst and author of the report, said: 'The only way health insurers can significantly improve customer acquisition, particularly in the individual market, is through innovation. There are many types of people who...