New Entrant to the Medical Insurance market

GloHealth is a new insurer which has recently entered the private medial insurance market.  Obviously more competition with the existing providers (VHI/Laya/Aviva), is a welcome development. 

GloHealth will operate 3 plans which they believe will simplify options for customers who wish to switch from existing providers.  There is no doubt that considerable confusion exists amongst policyholders when looking to compare plans from different companies.  It is estimated that there are currently circa 200 plans available from existing providers.  This confusion is borne out by the fact that less than 25% of policyholders have switched companies. 

GloHealth are targeting the younger sector in particular and also hope to encourage customers who have cancelled their insurance previously, due to affordability, to re-enter the market.