Companies gathering broker feedback on how to combine "best of both"
The acquisition of Groupama Healthcare by Simplyhealth is unlikely to be completed this year, according to an update from Simplyhealth.
The process has been held up by the courts and Financial Services Authority, who are experiencing an increase in workload due to the pipeline of similar deals, according to the insurer.
In the meantime, both businesses are running as usual and quotes and renewals will continue to be accepted for both Simplyhealth’s Preferential and Groupama Healthcare’s Santé private medical insurance products. The same commission rates still apply and intermediaries are told to use the same contact details for both companies.
Howard Hughes, head of employer marketing at Simplyhealth said the intention remained to align Groupama's healthcare business with the rest of Simplyhealth. A "unified new business product strategy" is to be developed over time.
"It remains early in the process so we don’t have any more detail on how this might happen and when this will take place," he said. "We have been listening to all the feedback from intermediaries and the market, and will be using this to feed into our plans moving forward.
"We are taking the time to understand the strengths of Santé and Preferential in order that we can take forward what is best for our clients and customers. Part of this understanding will involve speaking with intermediaries to gain their input."
Brokers paid tribute to Groupama's contribution to the market at this year's Health Insurance Awards, where the provider picked up awards for best customer service and best online service to intermediaries.