Jan 2010 product developments



	2010 product developments

At PruHealth, we believe the future of the UK PMI market is full of opportunity, despite the current economic climate. We remain committed to providing high quality healthcare and making people healthier.

To continue to grow and adapt to the new challenges today’s changing market brings, we’re working hard to develop our product so that you can offer your clients quality PMI but at more sustainable and competitive prices.

Changes for new and renewing business from January 2010

We need to change and evolve our product, which we will be doing for new and renewing business from 1 January 2010. We presented the changes at our recent events and you can view the full presentation, with commentary from our CEO, Shaun Matisonn, by clicking the links below and on the right. The presentation gives an excellent overview of the market and the rationale, along with a high level view of the changes.

We have also produced a brochure which goes into more detail about the specific changes to our plans, risk management and Vitality, along with one page summaries to help you explain the changes to your renewing clients. You can download those here too.

We have communicated these changes early to allow you to manage your renewing clients’ expectations. We are still working on other marketing materials and your PruHealth Account Manager will be in contact shortly to go through the changes in further detail and provide you with further marketing support as it becomes available.

Online presentation details

There are significant changes to communicate and as a result the whole presentation runs for approximately 40 minutes. It may be best to view it in a conference environment rather than at your desks individually. You will need internet access and sound.

We have split the presentation into sections so that you can select the section you’re interested in. Some sections may take a little while to load. Sections are as follows:

Introduction - PruHealth today.

A snapshot of our current position in the market.

Economic climate – 2010 and beyond.

An assessment of the impact of the recession, the pressures and the opportunities for the PMI market.

PruHealth's approach.

The choices for the PMI market and for PruHealth.

Plan design.

We have secured better rates with specific hospital groups and made some changes to plan benefits to offer your clients more competitive pricing whilst still maintaining the quality and breadth of our cover. We've also developed a new lower cost individual plan to capitalise on market opportunity.

Risk management.

We're developing our pricing to more accurately reflect risk and offer more choice and certainty over future premiums. We're also introducing new renewal reward mechanisms to separate the effect of renewal rewards on premiums.

Vitality.

We're changing our programme to reward members for improving clinical health measurements rather than just attending activities with health partners. We are making a clearer distinction between health partners and reward partners by offering flat rate discounts for health partners and keeping the reward partners status based.

Rate review and conclusions.

Details of our January rate review and forthcoming communications.

For more information, or if you have any questions, please speak to your Account Manager.

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	PruHealth is a trading name of Prudential Health Limited and Prudential Health Services Limited which are registered in England and Wales. Registered office at Laurence Pountney Hill, London, EC4R 0HH. Registered numbers 5051253 and 5933141 respectively. Prudential Health Limited and Prudential Health Services Limited are authorised and regulated by the Financial Services Authority.