Award-winning employee benefits broker, Engage Health Group, has teamed up with Allianz Care to launch a new health insurance product for UK start-ups and tech companies with an international workforce.
‘The International Tech Pool’ aims to make global healthcare more accessible at a time when more and more businesses are hiring remotely abroad. The policy brings together start-ups and digital companies in a first-of-its-kind exclusive risk pool which is designed to help lower premiums.
“UK tech companies are increasingly employing overseas workers and are faced with the challenge of providing equal health support to all employees, wherever they are in the world,” said Ian Abbott, International Director at Engage Health Group. “Yet, the cost of global health insurance is often inflated because their premium is calculated against the claims history of a riskier pool of businesses. The International Tech Pool has been created to solve that problem.”
The product launch marks the first time that an international health insurance scheme has been designed solely for tech companies and start-ups. The International Tech Pool has been trialled by a range of tech companies, including Maze, a series-B funded product discovery platform, and Saltpay, a series-C funded payment service provider.
“The aim of the scheme is to ensure that tech companies get a fairer premium,” said Ian. “By doing so, we can help businesses better look after their international employees whether they are expats or local nationals, and ensure they have access to private health insurance wherever they are in the world.”
The International Tech Pool has been launched in partnership with international health insurance provider, Allianz Care.
“Tech starts-ups are often at a real disadvantage compared to well-established companies in their ability to provide top level employee benefits to their employees,” said Paddy Lawlor, Head of Sales & Distribution, UK & Ireland at Allianz Partners.
“We agreed that if we could build a comprehensive product and combine a pool of many tech start-ups we could offer an employee benefit package at an affordable premium to allow these companies to attract and retain key staff to help them grow.“
“Since the inception of the Engage Health partnership we have seen rapid growth. It has massively surpassed our initial predictions.“
“For me personally, I am really excited to be able to keep working with a partner who is pushing the boundaries of what is possible in this segment. We are already looking at adding additional lines of insurance to the offering as it keeps developing. The exciting part is that we are only getting started.”
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