The APRIL Group, parent of APRIL International UK, has announced a three-year growth plan focussed on the international private medical insurance (IPMI) division.
The plan spans both organic expansion and strategic acquisitions that will be underpinned by a digital-centric approach aimed at simplifying the broker experience and client management.
“We see considerable scope for consolidation in the IPMI market, as the twin pressures of COVID and increased compliance costs squeeze the resources of smaller providers,” said CEO Eric Maumy, who made the announcement at the APRIL Group’s broker conference held in London last week.
According to Maumy, the goal is to solidify the APRIL Group’s presence both in the UK and international markets while providing “greater value to our brokers and policyholders.”
“Strategically, we are well positioned to continue the solid growth in sales we have achieved over the past few years, especially during the COVID period, when we were particularly successful at meeting both broker and policyholder demands,” added Joe Thomas, managing director of APRIL International UK.
The APRIL Group’s IPMI growth initiatives include the APRIL ON broker portal, which will serve as a central hub for brokers to seamlessly access client and business information.
The group is also committed to enhancing the policyholder experience by expanding its Easy Claim app into different regions globally and introducing new digital payment cards to streamline the claims process further.
“To support our ambitions in developing our IPMI business, we pay close attention to markets with strong development potential,” said Isabelle Moins, CEO of APRIL International Europe. “We carry out detailed research before committing to a market, so when we do, that commitment is for the long term.”
What are your thoughts on this story? Feel free to share your comments below.