With the competition getting fiercer in terms of headhunting, a health insurance policy is increasingly frequent on the table, offered by companies to their potential employees. According to BTA Baltic Insurance Company AAS (BTA) data, the number of insured persons has had more than a 45% year-on-year growth within the first 9 months of this year.

BTA health insurance policy has been issued to a total of 90 thousand employees. The overall volume of premiums written this year has reached 18.4 million euros or 26% of the entire volume of BTA’s gross written insurance premiums, which is by 60% more than a year ago.

The average price of insurance policy is 240 euros, and, the number of received insurance claims made indicates that people are active in using the advantages it offers. Since the beginning of the year, BTA has paid close to 9 million euros in insurance indemnities, of which 80% were used to cover out-patient and in-patient hospital services to customers. The other part has primarily been used for paying for sport classes and dentistry services.

“With the competition getting fiercer in terms of headhunting, employers tend to procure increasingly better insurance policies with a broader cover, including there additional services or increasing limits of the available services. The limit for dentistry services is raised, office employees more often are offered some gym sessions covered. Employers demonstrate an increased interest in inclusion of rehabilitation and critical illnesses treatment in insurance cover,” BTA Baltic Insurance Risks Underwriting Department Director Ivo Danče points out that procurement of insurance policies is a considerable contribution to the funding of healthcare system.

Health insurance policy holders most often use their policy to cover consulting services of paid medical specialists, diagnostic and laboratory investigations, as well as dentistry services. Insurance policy is also a significant support when facing various surgical operations. Although their number is relatively small, the costs for one stationed patient case are an average of 570 euros.

BTA insurance policy users, who will have in their policy cover included the programme – Payment for any medication, will be able to enjoy a special bonus to receive their discount right on the spot at the drugstore at 70 retail spots of BENU Pharmacy chain. Thus they will have to spend less at the drugstore. Besides, BTA clients are able to use medical services in Lithuania and Estonia as well, receiving the indemnity defined in the insurance policy in full. BTA as the Health insurance market leader has taken care to have the best contractual institutions (cooperation partners) coverage in Latvia and now their number is as much as 1730, of which more than 700 are available for cooperation and data exchange in online mode. It enables an automatic data exchange between the contractual institution and BTA, to guarantee an accurate and correct payment for the service right on the spot at the cooperation partner.

About BTA

BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The largest shareholder of BTA is Vienna Insurance Group AG with 200 years of experience in the insurance industry. More than 50 companies in 25 countries constitute the group, which employs 25,000 employees. Vienna Insurance Group AG is a clear leader in its core markets in Europe maintaining high rating of financial stability – Standard & Poor’s A+ (stable outlook), with a listing on the Vienna and the Prague Stock Exchange.

Additional information:
Elīna Rasmane
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS
e-mail: elina.rasmane@bta.lv