Each of Level Health’s four plans, say the company, is cheaper than the nearest comparable offering by the three other providers who have 350 different plans between them. Photograph: Getty ImagesIreland and led by a group of industry veterans launches on Friday with claims that it can offer “meaningful savings” to customers, following a series of price hikes by the three existing players in the market.
The launch of Level Health marks a pivotal moment for a broken Irish health insurance market,” Mr Dowdall said. “For too long, customers have been overwhelmed by confusing plans, limited options, and a lack of real alternatives.” State-owned VHI remains the largest health insurer in the market with more than 1.2 million medical coverage customers, giving it almost a 49 per cent market share.
Irish premiums were up 11 per cent when currency effects were stripped out, reflecting “strong rate and new business growth in both personal and commercial lines”, it said.