As of 1 October 2021, we will be updating our IPMI rates and will have new pricing in place for the UK & Rest of the World, the European Economic Area ‘EEA’ and Africa.

Our approach to pricing

We actively track and review claims every year. Our pricing reflects our projections for future claims costs, taking into account historic trends and estimates of both future claims and medical inflation.

An evolving landscape

Our aim is always to create a transparent, sustainable, and fair pricing strategy, by monitoring the risk we insure across our global product portfolio.
Medical inflation: this has continued to increase and may be further impacted by the ongoing pandemic, as hospitals continue to respond to the higher costs of treatment due to increasing PPE requirements and more in-depth cleaning measures required.

Claims trends: following an initial disruption associated with COVID-19, claims experience in many regions has exceeded pre COVID-19 levels. In 2021 so far, we have experienced an increase in the cost of claims per customer which we expect to continue in the future. Certain products have seen higher levels of inflation, and this variance is reflected in the October 2021 rates below.

Treatments in focus

So far this year we have seen a significant rise in claims in 2 specific areas of treatment:

• Musculoskeletal treatment (MSK): the impact of treatment delays, changes in general health and activity levels, and symptoms linked to Long-COVID have all contributed to a rise in MSK problems. In particular, as people continue to work from home, issues with their neck and back continue to increase and this has been reflected in a rise of almost 20% in MSK-related claims since the end of 2020
• Mental health treatment: many people around the world continue to struggle with the ongoing impact of COVID-19 on their lives. Not being able to see family and friends, an increasing sense of loneliness, and anxiety around contracting COVID-19 have been just some of the key contributors to a deterioration in mental health. This has been particularly evident in people who were already living with an existing mental health condition. In the first half of this year, we saw paid claims for mental health treatment rise by almost 25% and claim volumes by over 30%