Agency: PHD Ireland & Publicis
Introduction and Background
'A business in 20 years' time without a purpose-optimised strategy will be as unthinkable as a business today without a mobile-optimised website' - Sam Conniff, Social Entrepreneur
Private medical insurance is a big deal in Ireland. The latest published statistics (Source: Millward Brown & Kantar - A review of Private Health Insurance in Ireland, 2017) showed that 43% of people in the Republic of Ireland take out private health insurance. This is vastly higher than many other European markets, for example, the equivalent figure in the UK is just 11% (Source – Guardian 2017).
Vhi Healthcare (Vhi) launched in 1957 and is the market leader and the most premium brand in terms of product offering. However, the market has become increasingly challenging and complex over the years.
Figure 1 shows the rapid decline in the number of people taking out policies since the start of the recession.