PMI provider Clinicare. has been sold to the French company Strasbourgeoise Assurance Mutuelle, part of AZUR-GMF. Clinicare had been a partnership between Strasbourgeoise and Medical Insurance Agency (MIA) since 1993.
The decision to buy the Clinicare brand is said to be part of Strasbourgeoise’s desire to increase its presence in the UK healthcare market and it is expected to develop Clinicare’s policies over the next few months.
Derry Andrews, general manager of Strasbourgeoise, would not speculate on future plans, but said: “We have spent a lot of money securing our UK future and you don’t do that unless you intend to look at product development.”
He continued: “At this stage we are preparing a business plan for 2000. After investing in Clinicare there will be developments but at this stage it is something we are working on.”
Derry confirmed the brand would continue its commitment to brokers: “We have always relied on brokers for new business. We don’t mix and match business. We are intermediary driven. Intermediaries got us to this position and so we don’t intend to water down out intermediary channel.”
But while stressing the importance of brokers to group business, he added: “We may seek a new distribution channel in the individual market.”
Under the new structure, Strasbourgeoise will continue as Clinicare’s underwriter and Derry confirmed that the company would continue to use MIA as its third party administrator (TPA). “The reason we are to continue using MIA as a TPA is that we have only had fantastic services from them,” he said.