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Standard and Policy Master go online with PMI service

Standard Life Healthcare has joined up with software provider Policy Master offering an online private medical insurance service for IFAs.

The MediQuote service has so far signed up more than 100 IFAs in the first few days of operations, providing them with full quotation and benefit comparisons from PMI providers.

The product uses application service provider technology, which Policy Master says has advantages over conventional disk-based quotation systems.

In the future, Mediquote will also cover critical-illness plans, long-term care, income protection and health cash plans.

It offers quotes across the range of PMI providers but Standard Life Healthcare is the only company to fully fund intermediary access to Mediquote.

Access to product information from other providers is available for a monthly subscription of £22 plus VAT.

The system is offering commission payments of 5 per cent on products sold via Mediquote for an initial period.

Standard Life Healthcare national sales manager Iain McMillan says: “Mediquote is the e-commerce breakthrough the PMI industry has been waiting for. We believe its use will help intermediaries to deliver a quality service to their clients.”

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