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AXA Global Healthcare Launches International Health Insurance Foundation Cover Level

AXA – Global Healthcare has expanded its international health insurance offering by launching its new 'Foundation' cover level. Now available to expats and travelers of all ages, it is designed to offer essential cover to those who want the reassurance of having fundamental medical cover in place while they are living abroad.

Kevin Melton, Global Head of Sales and Marketing, commented, "Foundation has been launched as part of our product development programme, with the intention of complementing the existing four cover levels of our global health plan. We know that for some members, extensive cover, which supports most medical eventualities, isn't always required from day one. That's why we are introducing a more budget-friendly plan, offering essential cover while still providing day-and-night access to our global service team, a personal online account and our worldwide network of medical providers."

A budget-friendly option, Foundation offers personal customers an essential level of cover, such as in-patient treatment, cancer treatment and emergency evacuation and repatriation. It may also be a preferable choice for those who are looking to supplement an existing local health plan, giving customers whose home countries may lack the facilities required to undergo certain treatments the option to choose a facility abroad.

With an overall policy limit of £100,000 / $160,000 / €125,000 per person, per policy year, Foundation offers:

  • Cover for hospital charges, including charges for psychiatric treatment (up to 100 days in a members' lifetime), accommodation and diagnostic tests
  • Cover for surgeon, anaesthetist and physician charges as an in-patient
  • Cover for cancer treatment, including radiotherapy and chemotherapy
  • Cover for CT, MRI and PET scans
  • Cover for emergency or medically necessary ambulance transport
  • Emergency evacuation or repatriation

Giving customers additional choice, they can also choose to add an optional upgrade to include cover for out-patient treatment, including a virtual doctor service. The upgrade includes:

Up to £2,500 / $4,000 / €3,200 in total for:

  • Medical practitioner fees
  • Psychiatric treatment
  • Diagnostic tests
  • Physiotherapy treatment
  • Up to £100 / $160 /€125 for vaccinations and their administration
  • Up to £300 / $480 / €380 for complementary practitioner fees (out of combined limit)
  • Up to £100 / $160 / €125 for out-patient drugs and dressings
  • Access to a virtual doctor service for consultations over the phone and via video conference

With the launch of the Foundation cover level, AXA – Global Healthcare's global product suite for personal customers now includes Foundation, Standard, Comprehensive, Prestige and Prestige Plus.

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Enhancing Plans To Meet Fresh Challenges In The International Private Medical Insurance Market

AXA Global Healthcare has announced it will be enhancing its IPMI plans from October 2017 to meet the fresh challenges in the International Private Medical Insurance market. These updates include improvements to key offerings such as the International Health Plan, and Global Protect Health Plan in Hong Kong.

Enhancements have been made across several areas of cover, including policy limits on the Standard and Prestige Plus plans, improved ambulance transport benefit and an increased drugs and dressings and out-patient limit. Additionally, AXA is also introducing two new excess options to its Standard plan to give individual customers more options to tailor their premiums.  

Kevin Melton, Director of Sales and Marketing commented, “We’re always reviewing our global health insurance propositions to make sure we can offer our customers the service and cover they need to live their life to the fullest. The global healthcare market is always evolving, and that’s why we’ve updated our proposition to ensure it can better meet the needs of our customers, wherever they are in the world. Whether they want a comprehensive health plan or cover in an emergency, we hope that these enhancements will provide the extra flexibility our customers require, so they have complete confidence in their plan.”

Key changes include:

  • Overall policy limit – AXA has increased its overall annual policy limit on Standard and Prestige Plus, to offer customers additional confidence that its plans can cover them for the treatment they may need.
  • Out-patient combined limit – treatment cost varies by country. So to ensure customers can continue to get the most out of their Comprehensive and Prestige plans, AXA has increased its out-patient limit which covers diagnostic tests as well as physiotherapy, and visits to a doctor.
  • Ambulance transport – by removing the limit for ambulance transportation across all levels of cover, AXA now covers the cost of ambulance transport in full for its customers. Based on market analysis, AXA identified this as a key area of improvement for customers.
  • New excess options – AXA understands that individual clients who choose the Standard International Health Plan are often happy to pay for day-to-day medical costs themselves, but still want cover for any serious or emergency treatment. AXA has therefore introduced two higher excess options on the Standard plan without out-patient cover. This option can also help manage premiums for any individual customers who are concerned about price increases.
  • Drugs and dressings benefit – AXA has listened to feedback from members and increased the drugs and dressings limit on Comprehensive and Prestige plans.

The product enhancements also cover country-specific plans, including the Global Protect Health Plan, available to large corporate clients in Hong Kong.

Kevin Melton concluded, “These enhancements along with the our core offerings which include a second opinion service and evacuation and repatriation as standard means that customers can rest assured that with AXA, we’ll be there to help them whenever they need us.”

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Video: AXA Half Year 2017 Earnings Interview with Thomas Buberl, CEO of AXA

Thomas Buberl CEO AXA comments, "AXA delivered another strong performance in the first half of 2017 with underlying earnings per share growth of 5%, illustrating the strength of our fundamentals and the pertinence of our strategic plan, Ambition 2020.

We maintained our discipline in writing profitable business, as emphasized by our strong NBV margin in Life & Savings and by our growth in more profitable non-motor business in P&C Commercial lines. Health and Unit-Linked businesses were particularly dynamic with topline growth of 6% and 11% respectively.

We made substantial progress in improving our technical profitability in Property & Casualty. We continued to implement our efficiency strategy across the Group and are well on track to achieve our cost savings target.

AXA’s balance sheet strength has been highlighted once more by our strong solvency II ratio at 201%.

Our teams and distributors continued their engagement and commitment to our vision to empower people to live a better life. AXA has proved once again its ability to respond to profound environmental and economic change, notably by pledging to use 100% sustainable electricity and providing better protection to independent workers in the digital sector."

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