The UK private medical insurance (PMI) market may be mature, but has much potential for growth. While any significant market expansion remains dependent on changes to state healthcare policy and the tax system, recent innovations are helping to boost the product’s profile among both employers and individual consumers.

Health insurance is one of the more common workplace benefits, and popular with staff. The corporate sector has grown strongly over the past few years, underpinned by a benevolent business environment and increasing demand. It’s been a somewhat different story for the personal sector, which has seen subscriber numbers fall by more than a fifth over the last decade.

In this report, Mintel explores the likelihood of a turnaround in the personal sector and examines whether the recent trend to offer more affordable and innovative products is attracting a new breed of customer to the market. We investigate the changing market dynamics and pricing and product developments that are giving fresh impetus to the PMI industry. Drawing on a range of information and data sources, the report additionally offers readers:

an investigation into the internal and broader macroeconomic, social and demographic factors impacting on the market

an overview of the market’s competitive context; its strengths and weaknesses

the views of leading experts

an examination of recent and projected market growth, as well as detailed sector analysis

an appraisal of the supply side of the market, including market shares of the largest PMI providers

an assessment of recent product innovation, distribution and promotion

the results of independently commissioned consumer research, providing an insight into the leading characteristics, attitudes and behaviours of PMI policyholders and new prospects; the analysis also reveals consumer approaches to healthy living, as well as their perceptions and experiences of national and private healthcare services.