A group of Camden-entrepreneurs have launched a new comparison website to target the medical insurance industry.
The website, MediCompare.co.uk, is an aggregator of health insurance policies for individuals, companies, families and senior citizens.
The business uses advanced data analysis to help customers find the most effective and low-cost policy for their requirements. Customers will only need to offer their name, age and postcode in order for the system to analyse their details and provide a competitive quote from insurers such as Bupa, Vitality and Aviva.
Upon completing the form, customers will receive a call back from the team based in Camden. The MediCompare team is based in a newly converted office that was one part of Camden Road Station and provides a very start-up feel to it.
Co-founder Daniel Tannenbaum explained: “MediCompare has been two years in the making. Our team is made up of actuarial and data scientists who are using our technology to help customers find the best insurance quotes. Unlike most comparison sites, it is not based on which insurer is willing to pay the most for a lead.’
‘NHS queues are not getting any shorter and whilst many think that private cover is unaffordable, there are actually some very low cost plans out there. We have access to health cash plans which start from £6 a month and allow you to spend 6 times what you save up and use it towards visiting dentists, optometrists and physios when you need them.”
Other options include a group policy with family and friends and splitting the cost. There are also business health policies aimed at companies looking to insure their staff – receiving a group discount and tax benefits in the process.
The company is using the next 3 months as a trial period with plans to apply for investment in Q4 this year.
For more information, visit MediCompare.