How We Rate the Insurers

As a leading health care insurance broker, Medibroker is proud to have implemented an independent Insurer Ratings program. Our objective in rating each insurer / plan provider is to maintain high quality service standards throughout the industry via direct accountability. Results were achieved via the professional opinions of experienced Medibroker health insurance advisors and client services staff, who were asked to evaluate the criteria listed below on a scale of 1 to 5 (Poor to Excellent). With a maximum of 135 points to earn, the results were added and insurer / plan providers were ranked according to points scored. Our advisors completed this exercise from their homes, thus resulting in unbiased and impartial rankings. The Medibroker rating system has received great acclaim by the healthcare industry and these results will soon be published in various healthcare publications and websites. Below are the results of our January 2007 review:

Ten Rating Criteria:

(1) Service to Customer

Prompt client service, plan document despatch timing, availability of help lines 24/7, speedy and straightforward claims. Contract renewal annually as standard, no major leaps in premiums, year on year, or reduction in benefit structures of existing health insurance plans. Quality of continuing long term customer/client care.

(2) Service to Independent Broker Advisors and Intermediaries

Response times, accuracy of quotes, overall helpfulness and cooperation (Broker Friendliness) knowledge of customer/broker dealing staff, quality and timeliness of plan renewals, complaints handling, claims handling, general quality of Provider Administration.

(3) Price Competitiveness in the UK Market Place

Personal medical insurance price structure across the individual or family retired market place, not the corporate or SME market place.

(4) Quality of Benefits

Overall capping of personal medical insurance cover, or full cover to limits. Flexible options as add on, routine maternity, chronic, well man/woman, family friendly plans, dental/optical cover, HIV/AIDS cover, high age limits for the retired. Clarity on inpatient/day-care and outpatient benefits, wide hospital choices. Continuity of health care insurance cover once a Client has a plan and continues to pay premiums, i.e.: No cut off due to age. Travel insurance option available.

(5) Quality and Clarity of Literature/Brochure Pack and Application forms.

Ease of use, plain clarity of English for health care insurance terms and conditions, restrictions, underwriting etc. Level of detail and ease of understanding for both clients and Advisors. Clarity of claims and complaints procedures and Underwriter quality.

(6) Application Process

Length, complexity of the application client process, strictness of underwriting and "client selectivity issues" regarding moratorium, full personal medical insurance underwriting or other. Use of all major credit cards plus other bank transfer systems or cheques. Speed of the confirmation of bonding of client cover by Provider/Insurer.

(7) Product Provider/Insurer strength

Length of time in years/decades in the international health insurance field. Quality of Underwriters or Panel. Historical control of year on year premium increases in line or below global medical inflation. Range of Plans offered. "Brand Name" and/or recognition awards in the Industry. Popularity with Independent IFA's or specialist Advisors. Tied Agent sales forces or via independent broker networks for their distribution. Direct Sales or via Intermediaries or both.

(8) Website

Availability and effective usage of latest technology, particularly client/broker support technology.

Website availability, section for Agents and Advisors and Clients. PDF file availability on all applications, brochures etc

Quality and Clarity of downloads, PDF files and Producer Areas. "Pro activity levels" with Brokers.

(9) Payment Options

Multifrequency options available for each Provider's Plan range, e.g.: monthly, quarterly, half yearly, annually for client payments of premiums.

(10) Country Cover and Global Regional Options for Cover

Range, availability and number of hospitals available, relative pricing/banding structures.

Medibroker Limited is regulated in the United Kingdom by the Financial Services Authority.
Our regulated Firm number is 304773.
Full details can be found on the FSA Register
You can contact the Financial Services Authority (FSA) at:
25 The North Colonnade, Canary Wharf, London E14 5HS.
You can also call their Consumer Helpline on 0845 606 1234.
Additional information can be obtained from www.fsa.gov.uk

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