COVID-19 has put the NHS under tremendous strain, with efforts being focused on ensuring the service is not overwhelmed. The result of this has been a growing backlog of non-COVID-19-related cases that have started to be addressed but will take some time to overcome given the continuation of social distancing measures. COVID-19 has revealed the potential benefits of telehealth.
GlobalData’s 2019 UK Insurance Consumer Survey indicates that 29% of private health insurance customers purchased a policy due to concerns regarding NHS waiting times, an increase of 15 percentage points when compared to 2018. The COVID-19 pandemic will see this become an increasingly important driver of private health insurance sales, as non-emergency treatment has taken a back seat.
Go deeper with GlobalData
However, the provision of private healthcare will not be immune to the effects of COVID-19. Resources will be diverted to the NHS to help prevent the service being overwhelmed, which could lead to some delay in providing treatment to policyholders. The insurance industry will have to innovate in order to demonstrate the benefits of having a private health insurance policy during the COVID-19 pandemic.
Bupa is an example of one provider that is innovating in the space, with the launch of an at-home smartphone skin cancer screening service. Policyholders are now able to discuss their symptoms remotely and, should it be needed, they will be sent a kit to allow for at-home assessments, removing the need for a GP referral. The kit includes a smartphone and dermatoscopic lens to allow for high-resolution images of the lesion or mole to be captured and shared with a dermatologist.
The development of this feature from Bupa is a step in the right direction and will highlight the benefits of having private medical insurance to prospective customers. We will undoubtedly see a continued effort by the industry to shift policyholders towards the use of more digital channels such as telehealth consultations and virtual GP appointments in order to overcome social distancing measures following COVID-19.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
