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Bupa to offer rebate as part of coronavirus response

Bupa to offer rebate as part of coronavirus response | Insurance Business

Bupa to offer rebate as part of coronavirus response

It’s all hands on deck in the nation’s fight to limit the burden of the coronavirus outbreak on our NHS – and that means that Bupa UK, one of the biggest names in health insurance, is making a clear commitment to its customers.

Today, CEO Alex Perry announced that the firm would pass on any exceptional financial benefit that arises from COVID-19 to its customers. The move is being made as the independent health sector is disrupted with non-urgent hospital procedures postponed to free up resources for the NHS. Most deferred treatments are expected to be delivered as soon as possible, but Bupa still expects an overall reduction.

“As an organisation without any shareholders our customers come first,” Perry said. “At this point, no-one can predict the full impact of this national crisis and we do not have all the answers yet. But we want to reassure our customers that we will do the right thing for them, and that any exceptional financial benefit ultimately arising from COVID-19 will be passed back to our health insurance customers. This will be by rebate or other appropriate means.”

The company is in the process of writing to its customers to make this commitment – it will also commission a third-party review to ensure it is fair and reasonable across its customers groups.

The move comes just a day after GlobalData issued a report predicting a decline in interest in private medical insurance and urging health insurers to be proactive in reaching out to their customers.

“These policies can still provide meaningful value to the customer as they can offer additional resources such as access to digital GP services and mental health counselling - the latter may see an increase in demand, given the current restraints on daily life,” it said.

Bupa is currently expanding its health support services so that customers can access home support throughout the crisis. This will include telephone and video consultations, as well as specialist help relating to mental health and physiotherapy.