With the global cord blood industry rapidly changing, staying ahead of your peers has become increasingly challenging.
Significant competition between the banks means price has become a major selling issue for some, whilst others have focused on technology to differentiate themselves through the development of new uses for cells, new treatments and more efficient storage.
Demonstrating tangible benefits through insurance
Miller has developed an insurance facility to provide a financial safety net for clients ensuring that they are able to use their cells should stem cell therapy treatment not be covered by the public or private health systems. Additionally, it provides them with peace of mind to cover costs for treatment related expenses such as hospital stays or loss of income and a wide variety of auxiliary expenses.
Benefits for your bank
For your bank, offering insurance to both new and existing clients represents a significant opportunity to increase your income and reinvest back into your business whilst funding new fundamental research. Key benefits include:
> Revenue generation - opportunity for additional recurring income during the stem-cell storage life-span
> Differentiator from your competitors - provide an additional service benefit that other cord blood banks may not be offering
> Added value to your clients - provides the certainty and peace of mind
> Significantly reduces your liabilities - greatly reduces your liability exposures for the care, custody and control of stored stem cells
> Tailored to your needs - tailored to complement and benefit your business.
For more information, please contact our specialists
Miller Insurance Services LLP is a limited liability partnership registered in England and Wales. Authorised and regulated by the UK Financial Conduct Authority, we work with local insurance brokers to provide solutions in territories where we are unlicenced to do so directly.