Intermediaries

PHC is a private healthcare specialist working with a restricted panel of intermediaries. This strategic way of operating means we build strong and meaningful relationships with our partners.

We love to work with those who share our same passion and drive; to help our mutual client’s business achieve more and their members to live life well. We do this through truly understanding our clients wants and needs and letting that fuel the provision of quality private healthcare cover and value-added health and wellbeing services.

Bespoke offerings are inherent within our business as we know all too well that every client and industry is different.

It is this approach that makes PHC special and a trusted partner in healthcare for both member and intermediary alike.

PHC product updates

We are pleased to provide the attached summary of the changes being made to product benefits and/or rules this October.

Please ensure that this is circulated to any contacts within your business for whom this is relevant.

With the Consumer Duty now live, the product review process is an important part of the ongoing due diligence and development of the products and services we provide, ensuring they remain clear, safe and fair for your clients. 

For more information about any of the topics in this update or to explore how we can further develop our support for your people and business, please speak to your relationship manager within our Sales team or contact us at sales@thephc.co.uk.

Thank you for your continued support and the whole team here at PHC would like to wish you continued success and good health.

Steve Bettridge
Managing Director, PHC

HealthCover4life documents

For group policies starting on or after 1 October 2023, please find your literature below.

For members covered on HealthCover4life Plans 1, 2, 3 or 4 between 1 October 2022 - 30 September 2023, please refer to the plans Important Changes Leaflets below. This details the significant changes that have been made to the benefits available under the plan, with effect from 1 October 2023.

For group policies starting on or after 1 April 2023, please find your literature below.

For members covered on HealthCover4life Plans 1, 2, 3 or 4 between 1 April 2022 - 31 March 2023, please refer to the plans Important Changes Leaflets below. This details the significant changes that have been made to the benefits available under the plan, with effect from 1 April 2023.

For group policies starting on or after 1 October 2022 please find update Directory of Hospital lists below. All other documents remain the same as 1 April 2022.

For group policies starting on or after 1 April 2022 please find relevent policy documents below.

For members covered on HealthCover4life Plan 1, 2, 3 or 4 between 1 April 2021 and 31 March 2022 please refer to the plans Important Changes Leaflet below. This details the significant changes that have been made to the benefits available under the plan, with effect from 1 April 2022.

If you would like alternative formats of these documents or should you have any queries, please do get in touch. 

The Financial Conduct Authority (FCA) requires AXA PPP healthcare, trading as AXA Health, to provide PHC with details of the target market of their plans. It also requires them to ensure the intended distribution strategy of the plans are consistent with the identified target market, so they are not offered to customers who do not share the common needs, characteristics and objectives of the identified target market. As such, they have created a HealthCover4life target market statement to help you better understand all of this. Laid out below is the HealthCover4life target market statement which covers the following information:

  • the product type;
  • product status (open or closed to new business);
  • who the product is designed for and who the product is not designed for;
  • the main product features;
  • information on potential product complexity;
  • details of any additional customer costs;
  • the intended distribution strategy of the plan;
  • information on which product literature should be read alongside the target market statements to provide more information on the plan e.g. the appropriate Insurance Product Information Document (IPID) and the plan handbook; and
  • AXA Health’s approach to product governance.

This information will assist you in establishing the health insurance demands and needs for each plan’s target market. The Insurance Product Information Documents (IPID) and the Membership Handbooks will also help customers to make informed decisions about the suitability of our plans, and whether they offer fair value considering their health insurance demands and needs.

Please see the communication issued to our intermediary partners in March 2022 about this.

Consumer Duty and Fair Value Assessments

On 28 May 2021 the FCA published Policy Statement 21/5 which set out their new pricing practices rules. These rules set out requirements which apply to both insurers and their distribution partners and have been introduced as a result of the FCA's concerns about how insurance pricing could lead to poor product value and potential customer harm following a series of thematic reviews.

In line with Consumer Duty requirements regarding product value, we have identified opportunities to enhance our customer outcomes and have taken the appropriate action.

Our products and services have been reviewed to assess whether they remain consistent with the needs of the target market, the distribution strategy remains appropriate, and the product provides fair value for the customer including vulnerable customers. The results of these are available here and will be updated at least annually.

Under this new regulation, The Permanent Health Company Limited (PHC) is classed as a distributor. 

AXA PPP healthcare Limited (AXA Health) is our sole underwriting agent and product manufacturer, and therefore is responsible for providing sufficient information for product distributors to understand the intended target market and the value these products provide to our customers. 

Accordingly, AXA Health has provided information on:

  • The characteristics of our products or services.
  • The identified target market.
  • The needs, characteristics and objectives of customers.
  • The distribution strategy
  • Product Governance 

PHC is responsible for ensuring that our distribution partners are provided this information.

In order to fulfil this obligation, we are pleased to provide the PHC Corporate HealthCover4Life Fair Value Assessment, in addition to the Target Market Statement, conducted by the product manufacturer AXA Health.

The below target market statement is not intended for customer use.

Fair value for our customers (PDF)

Target market for HealthCover4life (PDF)

 

Contact us

We look forward to hearing from you. If you do not currently work with us but would like to learn more about PHC and the services it provides to corporates across the UK please call 01923 770 000.