UK public has been 'waking up' to PMI throughout the pandemic, broker data suggests
The number of people buying private medical insurance (PMI) for the first time has doubled in the UK since the start of the Covid-19 pandemic, according to price comparison website and broker firm ActiveQuote.
The firm's data shows that sales of PMI to first-time customers increases by 100% on average across November, December and January this year compared to levels recorded at beginning of the pandemic in March, April, and May 2020.
The trend has also continued into 2021, with PMI sales for first-time buyers up 32% month-on-month in January this year.
Rod Jones, head of partnerships at ActiveQuote, says that the rising number of first-time PMI buyers indicates a turning of the tide as attitudes of the UK public towards making sure their needs are covered are taken care of.
Jones commented: "What's also encouraging, from an industry and consumer perspective, is that significant rises in the number of first-time buyers investing in private healthcare means more are realising not only the true value of having these policies in place, but just how affordable and accessible a lot of them are too.
"This is a positive development not only when it comes to future markets, therefore, but for customers too, who can expect PMI to be an increasingly affordable option available to ever greater numbers as a direct consequence of this continuing increase in take up."
