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Bupa increases commision for intermediaries
15 April 2003
Increased commission for intermediaries selling medical cover to small businesses is now available from Bupa. From May 2003 community rated schemes sold to small businesses will now earn 14 per cent for new business and 5 per cent for renewals. The decision to increase commission rates follows feedback from Bupa intermediaries.
Over 32,000 small businesses look to Bupa to provide their medical cover and the company pays out around £2.2m per week in claims for small and medium business.
Steve Flanagan, sales director, of Bupa UK membership said: “The improved commission rates mean that intermediaries can earn more. It also means that commission rates for Bupa intermediaries have now been streamlined with one level for new business and renewals across all our community rated schemes. These moves follow the recent launch of our employee assistance programme, Bupa Wellbeing, to the small company market and are further examples of our strategy to align Bupa with the needs of both intermediaries and customers.
“Medical cover is valuable to all businesses irrespective of size. A member of staff taking time off due to illness can affect everyone, with the impact being even greater in a small company environment. Often, everyone has to work harder to carry the load and morale can be damaged, productivity dented, all of which impact the company’s bottom line,” he said.
Bupa has written to around 16,000 intermediaries explaining the improvements in commission rates. Any intermediaries unsure about what the new rates mean to them can contact their key intermediary manager or call Bupa’s dedicated intermediary sales centre on 0800 33 2000. Lines are open Monday to Friday, 8am to 6pm. Alternatively intermediaries can visit: www.bupa.com/intercom.
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