A new firm of intermediaries claims to bring the same disciplines to private medical insurance (PMI) that top-notch independent financial advisers (IFAs) bring to pensions, investment and protection advice.
E-xcellent Health practises detailed and stringent written reporting (including pre-proposed GISC registration), adherence to voluntary compliance standards and procedures and establishment of a comprehensive ‘reasons why’ process for clients.
The London-based firm is targeting corporate and high-net worth individual clientele for its services.
It took four months to create the company and trading started at the end of February. Business is reported to be “lively” and strategic alliances have already been formed with national IFA Inter-Alliance and mortgage brokers Alexander Hall.
The company has four partners: Percy Darukhanawala, Chris McCracken and Damien Kearsley, who have financial services experience, and Colin Boxall, who previously worked for 20Twenty Healthcare.
They were brought together by their belief in good service standards.
Darukhanawala says: “When opening a Pret a Manager chain or new airline, service standards would be obvious. But there isn’t always the stringency of service or level of quality of advice in the health insurance industry.
“Our industry is so far behind in understanding the consumer is king.”
Boxall says: “We had been in the industry an aggregate total of almost 50 years.
“We wanted to change healthcare advice from the grim, slightly unimaginative factory it can sometimes be into a service-oriented activity regarded from a serious professional outlook and delivered with efficiency, sensitivity and meticulous care.”
The company can be found at www.e-xcellenthealth.com