BCWA has launched a group PMI product exclusively for the Scottish market. Based on the insurers existing product Preferential, the new launch will initially be available only through Scottish brokerage Blackmores from December 1.
BCWA has been able to offer the product at discounted rates by accounting for less expensive hospital charges in Scotland. The Bristol-based arm of Blackmores will also be selling the product to West Country clients.
“We have done some fine tuning with this product for the Scottish market,” said Phillip Fowles, sales and marketing director. “It is being marketed exclusively through Blackmores because of the very strong affinity with company paid clients.”
He added: “There is a lot of scope in the Scottish market, especially since it has become a separate country making its own decisions. Preferential is what the market is asking for. People want a simple, understandable and comprehensive products.”
Special training for staff at Blackmores has already begun and Fowles said that for the time being BCWA would “see how it goes” before it considered offering the product through any other channels. “We may consider selling it elsewhere in the future,” he said.
The product will be available to groups of all sizes, but it is expected that mostly small groups will purchase the policy.