GlobalData surveying has found that penetration rates for private health insurance are increasing. Concurrently, research from Clarity Health Insurance shows that British interest in private health insurance has increased significantly over the last three years.
GlobalData’s 2021–2024 Financial Services Consumer Surveys found that the penetration rate for private health insurance in the UK increased by nine percentage points (pp) from 2021 to 2024. This growth highlights a rising trend in consumers opting for private health insurance, reflecting changes in attitudes and priorities regarding healthcare coverage.
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Meanwhile, 2024 research from Clarity Health Insurance revealed that 14,800 British consumers now search online for “private health insurance” every month. This marks an 82.7% increase from June 2021, when the monthly search volume was 8,100. This growing interest suggests that more consumers are actively seeking information and options for private health insurance, perhaps driven by a desire for more personalized and immediate healthcare solutions.
Moreover, the popularity of other healthcare-related search terms has seen significant growth. Searches for “compare health insurance” and “private healthcare” have both risen by 50%, suggesting that consumers are increasingly exploring various insurance options and comparing plans and providers to find the best fit for their needs. The search term “how much is health insurance” has skyrocketed by 122%, reflecting a growing interest in the cost of healthcare. This increase in searches might not solely indicate a heightened concern with cost or a desire for transparency but could also be due to more people wanting to purchase healthcare products, as reflected by rising penetration rates.
At the same time, the term “NHS waiting times” has experienced a dramatic 177% increase in search volume. This surge suggests there is growing concern among the public regarding the efficiency and timeliness of the NHS, with more people worried about the delays they might face in receiving diagnoses and treatments. According to GlobalData’s 2023 UK Insurance Consumer Survey, NHS waiting times are the most significant factor driving the uptake of private medical insurance. 25.2% of private medical insurance policyholders stated that concerns around NHS waiting times were the main reason they took out a policy.
Overall, there is a clear shift toward greater uptake of healthcare solutions, both in terms of understanding costs and comparing services, as well as a growing preference for private health insurance as a means to secure faster and more reliable healthcare. This evolving landscape highlights the need for health insurance providers to address these consumer concerns and preferences, offering more tailored and accessible solutions to meet rising demand.
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