Knowledge is power

In a market that is currently dominated by 'switch business', Tim Ablett explains why product expertise will give brokers the edge in a sector, which is regarded by many to be in decline

With the private medical insurance market often described as being driven purely by price, it is easy to imagine that company PMI has simply become a commodity. But, is this the case and, if so, what are brokers doing about it?

Feedback from brokers suggests that the pressure is really on to retain existing clients. With many providers offering similar products with comprehensive ranges of PMI benefits, utilising the same hospitals and using standard payment and claims settlement terms, brokers