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 remote staff abroad.
The policy brings together start-ups and digital companies in a first-of-its-kind exclusive risk pool designed to help lower premiums.
Ian Abbott, International Director at Engage Health Group, said:
“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.
“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 International Tech Pool has been trialled by a range of tech companies, including Maze, a series-B funded product discovery platform, as well as Saltpay, a series-C funded payment service provider.
Abbott said:
“The aim of the scheme is to ensure that tech companies get a fairer premium.
“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 was launched in partnership with international health insurance provider, Allianz Care.
Paddy Lawlor, Head of Sales & Distribution, UK & Ireland at Allianz Partners, said:.
“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.
“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.”
Image: Ian Abbott, International Director at Engage Health Group with Paddy Lawlor, Head of Sales & Distribution, UK & Northern Europe at Allianz Partners
