The UK’s travel insurance industry is undergoing a transformation with the introduction of Protectif, a new medical screening tool designed to offer more personalized, fair, and affordable coverage. By focusing on how individuals manage their health rather than just listing their conditions, Protectif aims to provide a more accurate risk assessment. This approach not only helps reduce under-declaration but also makes travel insurance more accessible, particularly for people with complex or pre-existing medical conditions.
A new medical screening tool for travel insurance, Protectif, is now available to the UK market, offering a fresh and innovative approach to assessing health risks. This award-winning tool, already utilized by established brands like Insurancewith and Holidaysafe, presents a meaningful alternative to Verisk, which currently dominates the UK travel insurance sector, accounting for approximately 80% of all medical screenings.
What sets Protectif apart is its unique methodology, which focuses on how individuals manage their health, rather than just listing their conditions. By starting with questions about medications, rather than predefined medical conditions, Protectif aims to reduce the potential for under-declaration and offer a more accurate assessment of each individual’s health risks. This innovative approach ensures that customers receive more personalized and relevant coverage, making it particularly beneficial for people with complex or pre-existing medical conditions.
Originally developed in 2006, Protectif’s methodology has been proven to improve the accuracy of medical screenings. Internal benchmarking has revealed that the tool could lead to improvements of up to 20% in loss ratios and help reduce significant losses by up to 50%. These benefits not only offer a more thorough and transparent way to assess medical risks but also provide a significant advantage for insurers in terms of improved efficiency and lower costs.
The core goal of Protectif is to provide more inclusive and tailored insurance coverage options, addressing the needs of individuals who may have been previously excluded or offered unreasonably high premiums by traditional screening tools. For those with conditions like cancer or long-term illnesses, Protectif has been instrumental in offering affordable travel insurance, reflecting the real-world management of health rather than rigid, outdated risk assessments.
The success of Protectif with Insurancewith is a prime example of how the tool’s flexibility and customer-centric approach have benefited both insurers and policyholders. The tool is regularly updated, with input from medical experts and charity partners, to ensure that it reflects the latest understanding of various conditions and treatments. This means that Protectif is always in tune with the current medical landscape, offering the most up-to-date assessments possible.
As the market for travel insurance evolves, Protectif aims to bring more choice and fairness to customers and insurers alike. According to Sophie Sayer, Head of Protectif, the goal is to offer an alternative that challenges traditional methods, ultimately benefiting customers by providing more tailored and affordable coverage. This approach helps to ensure that people are not penalized for having pre-existing conditions, but instead are assessed on how well they manage their health.
Protectif’s introduction also provides an important opportunity for customers to choose a different medical risk rating tool, offering a better chance of accessing affordable insurance. This is especially critical for individuals who have previously been declined coverage or offered prohibitively high premiums through the conventional Verisk screening process.
The impact of Protectif on the wider insurance industry is already significant, and the tool is now available for licensing by insurers, MGAs, and distribution partners across the UK market. The tool represents a step forward in making the insurance process more inclusive, transparent, and empathetic, ensuring that people with complex medical histories are not excluded from essential travel insurance coverage.
For more information on Protectif and how it can benefit both insurers and customers, interested parties can visit the official website at www.protectif.co.uk. By offering a fresh, accurate, and customer-friendly approach to medical risk assessment, Protectif promises to make travel insurance more accessible and affordable for a broader range of people, particularly those with pre-existing health conditions.
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