According to Alistair Sclare, outdated industry practices are holding back the private medical insurance market from embracing new technologies - but this could change, he says.
Electronic trading has the potential to transform the group private medical insurance (PMI) sector. If the industry can harness the massive potential of technology, it can streamline processes, enhance communications and create a market that is characterised by enhanced efficiency at all points in the transaction and throughout the life of the policy. Insurers and intermediaries would both benefit but, even more importantly, policyholders would enjoy the results of reduced costs and a more accurate service. In today's regulated world, the sector cannot ignore the requirement to treat it...
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