Insurtech start-up Equipsme is set to deliver a new range of health insurance plans to the UK’s SME businesses. The proposition aims to open up the benefits of healthcare to SMEs of all sizes who have previously struggled to find cover that really works for them.
Equipsme has created an affordable, easy to understand range of options that SMEs can access through a trusted source – their GI broker.
Led by former AXA Managing Director of Commercial Intermediary, Matthew Reed, Equipsme opens for business on 1st March.
Reed comments: “There are well over five million SMEs in the UK but less than five percent purchase healthcare insurance for their teams. We felt that there had to be a way to open up access to healthcare for this huge sector. Equipsme offers affordable, high quality healthcare allowing SMEs of all sizes to provide their people a benefit that they’ll really value.
“We asked SME owners around the country what they actually wanted from a health insurance product and what they would be willing to pay. The result is our affordable, easy to understand range of cover levels that provide day one value. There are no medical questions and it’s the same price for all ages. In my experience as a broker and an insurer, it’s the easiest insurance product to buy and sell in today’s market.”
Distributed exclusively through 30 of the top independent brokers across the UK, Equipsme will give SME’s a choice of four cover options ranging from £7 to £37 per employee per month.
As an example, a business with 10 employees can purchase Equipsme’s Level 2 cover for everyone for just £290 per month. This will provide their team with a remote GP service, physio sessions, diagnosis services, scans, hospital treatment and health checks.
Employees can choose to upgrade their level of cover or add family members through their mobile devices.
Equipsme is backed by AXA PPP healthcare who will provide underwriting capacity in a five-year exclusive arrangement. Under the terms of the arrangement Equipsme will also have access to AXA PPP’s nationwide approved provider network of consultants, practitioners and hospitals as well as full claims and helpline support services.