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Consumer attributes and the UK market for private medical insurance

Andrew J. Taylor (East Yorkshire and Hull Primary Care Trusts, Beverley, UK)
Damian R. Ward (Bradford University School of Management, Bradford, UK)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 1 December 2006

1577

Abstract

Purpose

This paper seeks to investigate the determinants of private medical insurance (PMI) consumption in the UK.

Design/methodology/approach

A unique combination of panel data estimators, reduced from equations and instrumental variables, applied to six waves of the British Household Panel Survey, 1996‐2002.

Findings

Results from previous studies are compromised by their failure to use appropriate estimation techniques. Furthermore, a clear distinction between being covered by PMI, having purchased PMI; and having an employer provide PMI is important.

Research limitations/implications

Controlling for endogenous variables, such as income and the use of panel data estimators, should be a necessary research method in this area.

Practical implications

This study provides a robust analysis of the determinants of PMI consumption in the UK, enabling product providers to identify and target potential customers in different segments of the PMI market.

Originality/value

This paper breaks new ground in concluding with confidence that age, experience of the NHS in the past years and the belief that the NHS is poor quality, are positive influences on PMI uptake

Keywords

Citation

Taylor, A.J. and Ward, D.R. (2006), "Consumer attributes and the UK market for private medical insurance", International Journal of Bank Marketing, Vol. 24 No. 7, pp. 444-460. https://doi.org/10.1108/02652320610712076

Publisher

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Emerald Group Publishing Limited

Copyright © 2006, Emerald Group Publishing Limited

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