Israeli born entrepreneur launches new comparison website

A team of London entrepreneurs have launched a new comparison website to target the private health insurance industry in the UK.

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INTERNET
INTERNET
צילום: ISTOCK

A team of London entrepreneurs have launched a new comparison website to target the private health insurance industry in the UK.

The website, MediCompare.co.uk, is an aggregator of health insurance policies for individuals, businesses, families and senior citizens.

The business uses advanced data analysis to help customers find the most effective and low-cost policy for their requirements. Customers will only need to offer their name, age and postcode in order for the system to analyse their details and provide a competitive quote from insurers such as Saga, Vitality and Aviva.

Upon completing the form, customers receive a call back from the team based in Camden, in London. The MediCompare team is based in a newly converted office that was one part of Camden Road Station, offering a retro and start up feel.

Israeli-born co-founder Daniel Tannenbaum explained: “We have been working on MediCompare for over two years. Our team is made up of actuarial and data scientists who are using our technology to help customers find the best health insurance quotes. Our real skill is being able to take small amounts of data such as age and postcode and being able to match the individual with a good policy."

‘We have found a gap in the market in the UK. With more than 90% of the population using the free NHS service, they are having to travel far for appointments and wait in line for weeks before they can get seen. The reality is that there are some very low cost plans out there which are private and can help people get seen faster."

Popular products on the website include cash plans where you get six times the amount of cover that you pay. For instance, spending £100 on your plan will enable you for up to £600 worth of treatment for dentists, optometrists and physiotherapy. There are also business health policies aimed at companies looking to insure their staff – receiving a group discount and tax benefits in the process.

The company is using the rest of the year as a trial period with plans to apply for investment in Q1 next year.




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