Health-on-Line survey reveals the need for cheaper health insurance is top reason for customers changing from current health insurance provider
November 22, 2008 (PRLEAP.COM) Business NewsIn a recent survey carried out by Health-on-Line, a requirement for reduced premiums has emerged as the top reason for customers switching from their current private medical insurance provider. Health-on-Line surveys all potential customers for their reasons for changing provider and it comes as no surprise that top of the list is the need to make savings on health insurance.
Mike Dalby, director of Health-on-Line comments "Given the current economic environment that individuals and companies are operating within, it's reassuring to see that they are looking to reduce costs on their health insurance rather than cancelling their policies outright. This means that they don't lose any of the benefits they have accumulated over the time they have held their policy but will make savings on their premium."
"It really doesn't surprise me that we're seeing this sort of behaviour. The ability to compare, quote and in some cases purchase online has made switching providers a lot easier for consumers. At times like this people are naturally more conscious of reducing their outgoings and are increasingly willing to move their insurance if their current provider can't provide the product at a cost which is within their budgetary limits."
Dalby continues "As an online organisation, we're well placed to help clients make savings as we maintain a low cost base and don't have the legacy systems and overheads that many other providers have. We pass this benefit on to the client and on average, we are able to save customers £30 (£30 savings based on most recent 300 quotations where clients have disclosed the existing premium) a month on their health insurance".
Concluding, Dalby says "We will continue to ask our customers why they want to change from their current provider. However, with economic conditions as they are at the moment, I don't anticipate any change to the top spot and believe that cheaper premiums will hold their position for some time yet."