The British Insurance Brokers Association (BIBA) has unveiled a private medical insurance (PMI) proposition for its members wishing to supply the product.
It is aimed at brokers who do not specialise in the area but want to offer the private healthcare as part of a more complete service to their clients.
The MYWellbeing plan includes a range of available covers from budget to comprehensive plans with various additional benefit options.
The scheme is underwritten by Axa PPP and administered and distributed by Jelf Employee Benefits who will provide all advice and compliance issues for their clients.
Steve Foulsham, technical services manager at BIBA, told COVER about its reasons for the project.
"It's been quite some time in development," he said.
"We're looking primarily for a solution for our smaller members that aren't specialists in healthcare to access, via the conduit of a specialist like Jelf, a solution that will enable them to get into the PMI market effectively."
"We've always felt PMI sits on the cusp between general insurance and life insurance and for that reason a lot of brokers steer clear of it because they don't understand it," he added.
At present the scheme is only available on an individual basis, but the Association intends to extend it to cover corporate schemes in the future.
Commission is loaded towards the introducer at new business stage and for Jelf at renewal.
Options available include no claims discounts, medical history disregard for transferring clients, enhanced cover for monitoring of specified chronic conditions and reductions through increased excess or six week versions.
