Simplyhealth comments on LaingBuisson’s Health Cover UK Market Report 2015:
These figures highlight the strength of our new strategic focus on funding, delivering and guiding people’s choices on ‘everyday’ health – things like back pain, toothache and mobility. As part of this new direction we have exited the PMI market, selling our PMI business to AXA PPP healthcare.
At Simplyhealth we are well placed to meet this demand through our market leading cash plan and Denplan businesses, where most of our customers’ spend is already on non-acute services. Strong takeup of new offerings such as our new company paid cash plan and our consolidated online platform myWellbeing demonstrate that demand is high.
Following the sale of our PMI business we intend to grow our cash plan, Denplan, dental and vet offerings, as well as investing in new areas of everyday health.
UNDERPINNED BY RESEARCH
Simplyhealth conducted a strategic review to help shape its new strategic direction, including a major research study consisting of interviews with around 6,500 consumers and 250 corporates in the healthcare sector. Some key results include:
- 80% of respondents said they were affected by some form of ‘everyday’ condition, with muscle, bone and eye being the most common
- 87% said they would be willing to pay for their everyday healthcare now or in the future and half (51%) believed they were responsible for paying for their own [everyday] healthcare
- The key motivator was to see a specialist quickly (54%) and to get a quicker diagnosis (44%)
Simplyhealth has launched a quarterly Everyday Health Tracker in partnership with YouGov, to paint the broadest picture yet of UK health and wellbeing. The Tracker surveys 2,000 people every quarter on a range of health topics, from diet and exercise habits to concerns about future health. A subset of the data is being used to create the Everyday Health Index – the first regular measure of the nation’s health. The Tracker is intended to provide a regular reference point for stakeholders across the healthcare industry, as demographic change and new treatments and technologies take us into a new era of healthcare provision. You can find out more about the first wave of results here https://www.simplyhealth.co.uk/sh/pages/about-us/yougov-everyday-health-tracker.jsp.