The switch option allows customers to leave their existing provider and bring their current medical underwriting terms to Standard Life Healthcare. Customers can switch to the firm’s primecare, primecare saver choices plan and supersave range.
If people who have built up a good claims’ record with another insurer switch to one of Standard’s no claims’ discounts plans, they will start their policy with a higher no claims discount, making their premiums cheaper.
Standard’s research among 1,007 adults shows that one in five people say they are likely to switch financial services provider in the coming year.
The main factors when switching are saving money by 84 per cent and improved customer service by 77 per cent. Seventy-four per cent say they favour the idea of a no claims discount.
Standard Life Healthcare is issuing guides on switching to intermediaries.
Sales and marketing director Iain McMillan says: “We have been bowled over by the response. Over 1,600 have already switched to us, making massive savings.”