In our second ever Intermediary Survey our brokers gave us an overall satisfaction rate of 88%, while 94% of respondents said they would recommend Now Health. We're delighted to have maintained our high overall satisfaction levels, with a fast and accurate quote service, efficient renewals and support to close new business.
The survey also showed that 100% of brokers surveyed were satisfied with our quotation process, a slight increase on last year which is testimony to our ongoing work to ensure our quotation process is as smooth and quick as possible. 83% were also satisfied with the support we provide to close new business, and we maintained our high satisfaction levels for member renewals at 96%.
The feedback of our intermediaries is invaluable in helping us to better improve the products and services we offer to both them and our members, and we thank all those that took part in the survey. We've also taken on board the comments from brokers about what we can do to better enhance our proposition, and we are taking a number of actions to address these. These include:
Digital Transformation
We are committed to providing our members and brokers with state of the art digital tools to make it easy to do business with us.
Following the launch of our innovative mobile pass membership cards last year for SimpleCare members, we will be rolling this out to all WorldCare members later this year. For our brokers, we have also made a number of enhancements to our Online Broker Quote Tool to make it easier to sort quotations by relevance and view premiums for individual family members.
We're also continuing to invest in the development of an omni-channel distribution platform to provide a seamless end to end user experience.
Competitive Pricing
Following our recent Product Review we've delivered below market inflation in many of our key markets, to maintain competitiveness and ensure stable pricing for our customers. We also continue to offer favourable pricing to our existing members that want to upgrade to one of our enhanced WorldCare plans at renewal, meaning they can access higher benefits and added value services at a competitive price.
For companies we've also revised our small and medium sized (SME) classification for new business, meaning groups of 50 – 99 employees will now be community rated.
Enhanced Proposition
We also listened to feedback from brokers about the need to cater to the demands of their more cost conscious clients. Our new SimpleCare product has now been launched across all our markets (excluding China), providing an affordable international health insurance solution for those on a tight budget.
Our new product offers core protection for all major health incidents including hospitalisation, surgery, cancer treatment, and evacuation and repatriation. We are confident our innovative new product will enable us to reach out to a wider client base, including the growing numbers of younger expats and international SMEs worldwide.
In the year ahead we will also be further developing our proposition, with a particular focus on how we can better cater for SME group clients that have their own unique health insurance requirements.