Standard Life Healthcare has launched a new modular business healthcare product aimed at SMEs.
The product allows companies, with one to 249 staff members, to mix and match benefits to create a bespoke product which meet the specific requirements of their employees.
Companies start with one of the four main modules – core healthcare, dental cover, health cash plan or travel cover – then add benefits to build their desired package. They can build different packages for different categories of employees for example senior staff members or staff in different departments or cities.
Standard Life Healthcare undertook consumer and broker research when developing the product and found simplicity and flexibility are key to a good business healthcare product.
It found 55 per cent of SME bosses want the ability to change their company’s package depending on its cashflow and many claim easy servicing is vital.
Chief executive Mike Hall says: “Our research with small business owners identified that today’s small and growing businesses are looking for a flexible approach to providing healthcare support for their employees.
“Fifty-seven per cent of those questioned were specifically looking for packages where modules can be tailored to suit their company. We believe the mix and match approach of business healthcare does just that and allied to our renowned customer service and full cover promise it offers just what today’s small businesses are looking for.”