UK: New joint venture will deliver more affordable hospital treatment to customers
OREANDA-NEWS. October 22, 2015. Aviva Health and VitalityHealth have formed a joint venture company for the procurement of hospital treatment on behalf of their private medical insurance and trust customers. The joint venture will enable the two insurers to secure more affordable healthcare for their customers through their combined purchasing efforts, while maintaining the quality and breadth of their individual offerings.
The new joint venture, Healthcare Purchasing Alliance (HPA), will enable Aviva Health and VitalityHealth to purchase a variety of health services from UK private and independent hospitals. Other functions will continue to be operated separately and will remain the responsibility of each individual insurer.
Tania Baker has been appointed Chief Executive Officer of HPA. Tania has extensive experience in the healthcare market, having most recently been CEO of Dr Foster, a leading provider of healthcare analytics.
Mark Noble, Managing Director of Aviva Health, said: "This new venture will improve the value Aviva customers receive from their private health cover. This is a significant opportunity to grow the Aviva Health business and health insurance market overall by offering affordable health insurance.”
Neville Koopowitz, CEO of VitalityHealth, said: "We are pleased to be partnering with Aviva on such a great initiative. By working strategically with the hospital groups, HPA will further strengthen our ability to innovate in the products and services that we offer our members. This is particularly important in light of the consolidation taking place within the private medical insurance funding market."
Tania Baker said: "I am excited to be involved in the creation of HPA and I am looking forward to working collaboratively with healthcare providers to the benefit of customers and all stakeholders."
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If you are a journalist and would like further information, please contact: Fiona Whytock: Aviva Press Office: 01904 452659: 07800692299: email@example.com or Dan McMillan: Head of PR: Vitality: 07824 604 926; Dan.McMillan@vitality.co.uk
Notes to editors:
- Aviva provides life insurance, general insurance, health insurance and asset management to 34* million customers, across 16 markets worldwide
- In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
- Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over ?245 billion in assets.
- Aviva helps people save for the future and manage the risks of everyday life; we paid out ?24.6 billion in benefits and claims in 2014.
- By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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* Before the deduction of overlapping customers.
Vitality – changing health and life insurance for good
- Vitality is the insurance business that helps people understand how they can improve their own personal health. Vitality makes it cheaper and easier for its members to get healthy and gives them rewards to keep them motivated, through a range of discounts and incentives.
- Vitality Ambassadors Jessica Ennis-Hill, Lord Sebastian Coe and Jonny Wilkinson are role models who embody the values of Vitality. They are all using their passion for living a healthy lifestyle to motivate others to make positive changes. Taking small steps today can dramatically improve wellbeing over the long-term, regardless of your current state of health.
- VitalityHealth is one of the UK’s leading private medical insurers and has pioneered the ‘shared-value’ insurance model. This is a unique approach to insurance that uses incentives to motivate better lifestyle choices among members, which translates into lower mortality and morbidity risk over time. The effect is positive for all stakeholders – members benefit through the financial and intrinsic value of rewards, as well as better health; employers benefit from healthier, more productive, and more engaged employees; and Vitality benefits from a healthier membership base. For more information visit www.vitalityhealth.co.uk