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Healthcare International

Allianz Partners Announces Enhanced International Health Insurance Options For Customers

Allianz Partners has announced three significant enhancements to their suite of international health plans, aimed at providing more options to customers with health insurance policies.

Firstly, the new Allianz Summit plan – designed and sold through the company’s international health brand, Allianz Care – offers SMEs increased flexibility when designing their employee health insurance benefits. Secondly, the addition of moratorium underwriting offers faster onboarding when purchasing health insurance for both individuals and SMEs. Thirdly, all customers can now access the hugely popular Wysa app for immediate, confidential and high-quality mental health support, at no additional cost.

Allianz Summit 

The Allianz Summit health plan is a comprehensive international health plan designed for SME groups of up to 100 employees. This product was developed following Allianz Partners’ preferred partnership agreement with Aetna International earlier this year and is modelled on Aetna’s popular Summit product, with a number of enhancements.

Its modular structure and pre-set options offer flexibility, allowing clients to tailor a health plan to the needs of their employees. Members enjoy access to a host of support services, including a 24/7 multilingual helpline, a network of over 1 million medical providers globally, and a range of digital health and wellness tools.

Allianz Summit has launched in English initially, with other languages to follow early next year, and locally compliant plans are available to SMEs across countries in Europe, Asia and the Middle East.

Moratorium underwriting

Individuals and SME customers at Allianz Partners can now opt for moratorium underwriting, or the traditional Full Medical Underwriting (FMU) terms.

With Full Medical Underwriting, customers provide their full medical history and, based on an assessment of that information, there may be specific surcharges applied to their cover from the outset. This form of underwriting is particularly beneficial for those with existing medical conditions.

Moratorium underwriting is a generally faster process than Full Medical Underwriting, as there are no medical forms to complete. Moratorium also takes the recurrence of an illness into account, allowing for more flexibility in the application. It offers the reassurance that as long as the person is symptom-free and has not needed any treatment or medical advice for a pre-existing condition for two consecutive years, cover will begin in the third year of their policy. This is expected to be a popular option amongst SMEs, as the onboarding of employees is much faster.

Moratorium underwriting is available to individuals and small groups with between three and nine members, but is dependent on geographical location and local country regulations.

Wysa Mind Coaching App

The Wysa Mind Coaching App, a chat buddy and human coaching service, is also now available to all Allianz Partners health insurance customers. This is a new support service, following the preferred partnership deal with Aetna International earlier this year.

This app is currently used by 4 million users globally and provides immediate, confidential mental health support at no additional cost. Its aim is to provide early support and intervention for those not yet ready to talk by phone or meet a specialist.

The app centres on Wysa, a conversational chatbot that’s available day and night to listen and chat about whatever’s on someone’s mind in a fully confidential environment. This creates a non-judgmental safe space to vent and be heard, anytime, anywhere. The app also provides a self-care library with over 150 tools and exercises to develop mental strength and resilience to help deal with issues ranging from body image to breakups. All tools are backed by science and handpicked by experts. Additionally, users will have access to a professionally-trained human coach to support them via in-app, text-based chat sessions. If additional support is needed, this will be provided through a 12-week coaching program with a dedicated coach.

Paula Covey, Chief Marketing Officer Health at Allianz Partners, said: “Our new Allianz Summit product and the provision of the Wysa app are both testament to the success of our preferred partnership agreement with Aetna International from earlier this year. Allianz Summit offers increased flexibility for SMEs and enables them to manage costs more efficiently as different options can be selected for different groups of employees. The Wysa app is a multi-award-winning solution, and its availability to all customers at no additional cost highlights the importance that we as a company attach to mental fitness and wellbeing. Meanwhile, the new moratorium underwriting health insurance option we’re providing allows for greater flexibility and a faster onboarding process when buying health insurance. These three new offerings each demonstrate Allianz Partners’ commitment to innovating with purpose, continually improving the range and flexibility of our services to customers.”

To learn more about Allianz Care international health plans, visit:

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iPMI Magazine Speaks With Sheldon Kenton, Group Chief Executive Officer, Global Benefits Group

In this exclusive iPMI Magazine interview, Christopher Knight, CEO, iPMI Magazine, met with Sheldon Kenton, Group Chief Executive Officer, Global Benefits Group. They discussed in detail the future development of Global Benefits Group, recent acquisitions, and the role of Further Global in the brand.

Please introduce yourself and background in the international private medical insurance market:

Thank you for the opportunity to speak with iPMIM.  I recently moved into a new position as Group Chief Executive Officer of Global Benefits Group, after an almost 25-year career in the global health and insurance segment.  I was most recently the President & CEO of GeoBlue, the joint venture in the United States between BUPA and the Blue Cross/Blue Shield Organization.  At the same time, I served as Managing Director of Bupa Global.  Prior to joining Bupa in 2016 I had a long career at Cigna Global spanning roles responsible for its business in Europe, the Middle East and Asia as well as latterly Chief Commercial Officer for Cigna Global North America with functional global responsibility for sales.

November 2018 and private equity firm Further Global Capital Partners and affiliates (“Further Global”) acquired insurance organization Global Benefits Group for 132M USD. How hands on are Further?

Further Global is a long-term, financial investor that seeks to build value in its portfolio companies over time.  Further Global understands the insurance market and the opportunities and challenges that we face.  Like any investor, it seeks to monitor its investment; however, the team at Further Global allows the management team to run the business as it sees fit, providing support and counsel as needed.

Further Global wants to help grow Global Benefits Group. How are they doing that?

Further Global is very supportive of GBG initiatives.  It understands the capital that is required to grow in our core IPMI markets and has been willing to provide the capital necessary to allow us to improve our operations and talent.  Should the right fit become available, the Further Global team is also willing to provide capital for an acquisition or other opportunity that supports our strategy.  It showed this willingness when providing capital for our acquisition of Clifford Allen Associates in 2020.

Which countries does Global Benefits Group have a physical presence in?

Through our own offices and other relationships GBG has a presence in United States, the Netherlands, the United Kingdom, Guernsey, and Thailand.  We also have administrative and operational capabilities in India, Mexico, Serbia, South Africa, and the Philippines.

Does Global Benefits Group plan to open more locations, and if so, where?

Our aim is to be present in the places that are important to existing clients and customers and/or which give us an opportunity to grow and serve more customers.  We are constantly reviewing our global locations and operations to find these new opportunities.  At this point, I don’t see any obvious gaps, but I am ambitious for the Group, and I am sure that will drive further geographic expansion over time.

November 2020 and Global Benefits Group acquires Clifford Allen. How is the acquisition panning out and will the Clifford Allen name remain?

The acquisition of CAA was completed in 2020.  Over the course of the last 2 years, we have worked diligently to integrate significant parts of the operation while leaving in place the personnel and processes that have established CAA as a clear leader in the student insurance market for private secondary schools for over 30 years.  The 2022/2023 Academic year saw very strong retention (99%+) of existing clients while also experiencing the largest addition of new business in over 5 years.  Moving forward, we are excited about further enhancing the customer service and product experience through enhanced systems, product design and customer support.  All of these efforts will continue under the CAA brand given its strong brand recognition and stellar reputation in the segment it serves.  Nonetheless, we will take steps, as we review marketing collaterals etc to underscore the fact that CAA is very much a part of the GBG Group, and I am very pleased that it is!

Back in 2016 Global Benefits Group entered the insurance market in Jamaica. How is that going?

As a Lloyd’s Coverholder, GBG entered the Jamaica Trinidad & Tobago, and Puerto Rico markets in 2016.  Since then, we have had profitable year-over-year growth within the Caribbean.  Most recently, to add to our already comprehensive suite of products, we launched Global Choice Plus, a competitive individual international health product.  Finally, to round out our product offering within the Caribbean, we will be launching a corporate group health product called Professional Plus, and Travel 360 Plus, an individual travel health product.  These two products are expected to be launched later this year. 

Global Benefits Group has a partnership with AXA. Can you walk us through what that partnership involves?

GBG’s relationship with AXA is multi-facetted and very exciting.  AXA provides both reinsurance support for GBG and a locally admitted insurance company where admitted contracts are required in a specific jurisdiction.  In the latter scenario, generally speaking, GBG provides the product and administration (including assistance etc), and we work collaboratively with AXA to provide underwriting and local insurance operation support.  One of our more recent successes with AXA has been our collaboration in Mexico which is generating great results.   Mexico is the biggest IPMI market in the LatAm region. Through our partnership with AXA Mexico, we launched two co-branded IPMI health products called Globalmex.  GBG reinsures and fully administers and services these products that are distributed across Mexico.  We have reached an accelerated sales pace with Mexico becoming the fastest growing country for GBG in the region. Since its launch in November 2018, Globalmex is one of the leading IPMI products within the country. 

The past 2 years have been challenging for everyone. How do you see the iPMI market developing?

I remain very positive about the iPMI market.  Whilst the last 2 years have indeed been challenging, I think one outcome has been the stark reminder that we do still live in an everchanging and unpredictable World and, as such, flexible, capable and reliable health insurance and protection is vital for the globally mobile and those generally living global lives.  Although large, the iPMI market remains a complex, highly specialised niche that needs 100% focus from those that participate in it, and I think we have seen that recently with some high-profile market exits.  So not only am I optimistic about the segment in general, I am extremely optimistic about the place that a dedicated, specialist provider such as GBG has within it.  As always though, that will require dedication, innovation, and a laser focus on the complex and changing needs of the globally mobile.

Finally: if you could live anywhere in the world, on land or at sea, where would it be?

I have been very fortunate over a long career to have visited (and lived in) some amazing and vibrant parts of the World…and I hope to continue doing that for a good while to come.  But whenever I get asked this question, I always have a simple and, probably boring, answer.  For me the best place in the World to live is wherever my family is, and for me, that is my wonderful wife and two daughters.

 

 

 

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International Health Insurance 2022

Leading international private medical insurance publisher iPMI Magazine, is excited to announce the official launch of the “International Health Insurance 2022" IPMI market report, written by leading IPMI, insurance and healthcare analyst Ian Youngman.

This must-have latest IPMI market information provides a wealth of facts and figures on international private medical insurance and health insurance for expatriates, third-country nationals, domestic nationals, and global nomads.

Format: Written Report.

Size: 225 A4 Pages.

Delivery: PDF Format.

WHO IS THE REPORT FOR?

  • Insurance companies;
  • Insurance brokers and agents;
  • MGAs and MGUs; 
  • Management consultants; 
  • Professionals working in global healthcare markets; 
  • Hospital and clinic groups operating internationally; 
  • Travel agents; 
  • Assistance companies; 
  • Cost containment and claims management companies; 
  • Insurance technology companies;  
  • Travel managers;
  • Air and ground ambulance companies;
  • Banks and other financial institutions;
  • Investors and private equity; 
  • National and local government policy makers; 
  • Lawyers;
  • Policy advisors; 
  • Think tanks.

Introduction

  • The global demand for health insurance is rising fast
  • There are opportunities for health insurers and brokers.
  • The numbers of expatriates is rising and will increase.
  • IPMI and PMI are no longer separate.
  • Locals, students, digital nomads and NGO workers need cover.
  • More countries are making health insurance compulsory.
  • Healthcare and health insurance are becoming intertwined. 
  • Technology will change how insurers, brokers and customers interact.
  • There are more opportunities than ever for insurers and brokers to sell health insurance globally to locals and internationals.
  • International private medical insurance is flourishing. There are more globally mobile individuals than ever before - and employers are building businesses in more diverse countries.
  • IPMI as health insurance without borders is the future of health insurance for all people irrespective of their country of nationality, residence or current domicile.
  • Compulsory insurance, voluntary top up covers, differences between what you can sell to locals and expatriates, rules on overseas investors, local partnerships, economic sanctions, and even local politics are all things that insurers and brokers must understand.
  • There have been several new entrants to the global healthcare insurance and ancillary services market, long dominated by a small handful of existing insurance companies. Regional insurers and brokers are active in the sector.
  • The IPMI market is always shifting with market exits and entrants.
  • There is a global shift Eastwards as the USA/Europe axis gives way reluctantly to a China/Asia/Africa axis.
  • Being no longer possible to just offer IPMI offshore, due to compulsory insurance, tighter regulation and a rising rife of nationalism- global players have to invest in offices, partnerships and deciding which markets to be in. 
  • There is a massive rise in IPMI and PMI offerings from regional groups, local groups and single country insurers.
  • Three big partnership deals are changing the face of IPMI-Aetna/Allianz, Allianz/ Sanlam and Bupa/Generali.

OVERVIEW

MARKET CHANGES

  • Background - IPMI market in 2022
  • The three big partnership deals
  • Aetna and Allianz
  • Allianz and Sanlam
  • Bupa and Generali
  • Health insurers A to Z
  • Brokers agents and MGA/MGUs A to Z
  • Countries A to Z

HOT TOPICS

  • Invasion of Ukraine
  • GROWING NEED FOR IPMI
  • Global Migration
  • Diaspora
  • International students
  • Temporary foreign workers
  • Expatriates

INTERNATIONAL HEALTH INSURANCE NUMBERS

  • Global premium figures

LATEST INSURER AND BROKER RESEARCH

  • Ageing workforce
  • Executive wellbeing
  • Expatriate health concerns
  • Expats on living abroad
  • France employee healthcare
  • Global employee benefits
  • Global health benefits
  • Global health insurance costs and trends
  • Global health insurance trends
  • Global insurance
  • Global medical price trends
  • Global medical trends
  • Global mobility
  • Global multinationals and corporate transfers
  • Global private healthcare
  • Healthcare in 2040
  • Healthcare and wellbeing 2040
  • Health insurance for ex-pats
  • Health insurance pricing trends
  • International health insurance
  • International mobility strategy
  • International schools
  • Mental health
  • Millennials
  • Online purchase
  • USA Employee benefits
  • USA employer medical costs

OTHER RECENT RESEARCH

  • Digital nomads
  • Insurance brands
  • USA health insurers
  • Working abroad
  • NEW GLOBAL TRENDS
  • Businesses and consumers
  • Chronic condition management
  • Diaspora cover for relatives
  • Digital nomads
  • Employer health support to employees and families
  • Managing general agents
  • Merging health insurance and healthcare
  • Millennials
  • Partnering with global insurers
  • Remote health services
  • Sending people overseas
  • Seniors
  • Short assignments
  • Short-term cover

REGIONAL TRENDS

  • AFRICA
  • ASIA PACIFIC
  • Asian health
  • Healthcare in Asia
  • Health insurance market potential Asia-Pacific
  • Asia medical benefits
  • Health at a Glance: Asia Pacific
  • EUROPE
  • Health at a Glance: Europe
  • LATIN AMERICA AND CARIBBEAN
  • Health at a Glance: Latin America & the Caribbean
  • Latin America health insurance potential
  • MIDDLE EAST AND NORTH AFRICA
  • Middle East and North Africa outlook
  • Replacing foreigners with citizens
  • Health insurance market potential Middle East
  • Healthcare in UAE

THE FUTURE

  • The future
  • Health insurers need to offer more
  • IPMI in 2022

How To Buy International Health Insurance (IPMI) 2022

We are selling the report International Health Insurance (IPMI) 2022 on Research and Markets for £1,599.

However, if you are an advertiser or iPMI Magazine subscriber, we are offering the report for a subsidised investment

iPMI Magazine Advertiser: £1,300

iPMI Magazine Subscriber: £1,450

To take advantage of this offer please write to ipmi[at]ipmimagazine.com or speak with your account manager directly.

About The Author

Ian Youngman is a writer and researcher specialising in international private medical insurance, global healthcare and medical tourism. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports and undertakes research for companies and has London market management experience with brokers and insurers. 

 

 

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International Private Medical Insurance Magazine Provider Network Directory August 2022

Welcome to iPMI Magazine 2022.

The August 2022 edition of the International Private Medical Insurance Magazine Provider Network Directory, is out now, featuring over 80 pages of international private medical insurance and medical assistance company intelligence.

The iPMI Magazine network consists of a wide range of leading international medical payors and service providers, on call, 24/7 to assist you manage worldwide medical risks during a global pandemic.

The international medical insurance network covers all sectors of the global medical insurance business, and you can use the directory to source new partners and service providers. Simply use the the contact details within the network directory to connect with new partners and customers. 

The IPMI market use the iPMI Magazine Provider Network Directory to source the best information and data on international private medical insurance payors and providers. They may be searching for a new partner, looking for a contact number of a current provider, or researching the payor and provider market for future cross border network development.

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Provider Network Members 

Click a company name below to visit their micro web site on iPMIM and learn more or download the brand new e-directory using the above link. To add your business to the e-directory and launch a micro website please write to David Bond, CIO, iPMIM on ipmi[at]ipmimagazine.com

PAYORS AND PROVIDERS IN FOCUS:

IPMI

ASSISTANCE

AIR AMBULANCE

COST CONTAINMENT AND CLAIMS MANAGEMENT

FUNERAL DIRECTORS

INSURANCE TECHNOLOGY

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

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International Private Medical Insurance Magazine Provider Network Directory July 2022

Welcome to iPMI Magazine 2022.

The July 2022 edition of the International Private Medical Insurance Magazine Provider Network Directory, is out now, featuring over 80 pages of international private medical insurance and medical assistance company intelligence.

The iPMI Magazine network consists of a wide range of leading international medical payors and service providers, on call, 24/7 to assist you manage worldwide medical risks during a global pandemic.

The international medical insurance network covers all sectors of the global medical insurance business, and you can use the directory to source new partners and service providers. Simply use the the contact details within the network directory to connect with new partners and customers. 

The IPMI market use the iPMI Magazine Provider Network Directory to source the best information and data on international private medical insurance payors and providers. They may be searching for a new partner, looking for a contact number of a current provider, or researching the payor and provider market for future cross border network development.

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Provider Network Members 

Click a company name below to visit their micro web site on iPMIM and learn more or download the brand new e-directory using the above link. To add your business to the e-directory and launch a micro website please write to David Bond, CIO, iPMIM on ipmi[at]ipmimagazine.com

PAYORS AND PROVIDERS IN FOCUS:

IPMI

ASSISTANCE

AIR AMBULANCE

COST CONTAINMENT AND CLAIMS MANAGEMENT

FUNERAL DIRECTORS

INSURANCE TECHNOLOGY

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

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International Private Medical Insurance Magazine Provider Network Directory June 2022

Welcome to iPMI Magazine 2022.

The June 2022 edition of the International Private Medical Insurance Magazine Provider Network Directory, is out now, featuring over 80 pages of international private medical insurance and medical assistance company intelligence.

The iPMI Magazine network consists of a wide range of leading international medical payors and service providers, on call, 24/7 to assist you manage worldwide medical risks during a global pandemic.

The international medical insurance network covers all sectors of the global medical insurance business, and you can use the directory to source new partners and service providers. Simply use the the contact details within the network directory to connect with new partners and customers. 

The IPMI market use the iPMI Magazine Provider Network Directory to source the best information and data on international private medical insurance payors and providers. They may be searching for a new partner, looking for a contact number of a current provider, or researching the payor and provider market for future cross border network development.

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Provider Network Members 

Click a company name below to visit their micro web site on iPMIM and learn more or download the brand new e-directory using the above link. To add your business to the e-directory and launch a micro website please write to David Bond, CIO, iPMIM on ipmi[at]ipmimagazine.com

PAYORS AND PROVIDERS IN FOCUS:

IPMI

ASSISTANCE

AIR AMBULANCE

COST CONTAINMENT AND CLAIMS MANAGEMENT

FUNERAL DIRECTORS

INSURANCE TECHNOLOGY

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

Read more...

International Private Medical Insurance Magazine Provider Network Directory May 2022

Welcome to iPMI Magazine 2022.

The May 2022 edition of the International Private Medical Insurance Magazine Provider Network Directory, is out now, featuring over 80 pages of international private medical insurance and medical assistance company intelligence.

The iPMI Magazine network consists of a wide range of leading international medical payors and service providers, on call, 24/7 to assist you manage worldwide medical risks during a global pandemic.

The international medical insurance network covers all sectors of the global medical insurance business, and you can use the directory to source new partners and service providers. Simply use the the contact details within the network directory to connect with new partners and customers. 

The IPMI market use the iPMI Magazine Provider Network Directory to source the best information and data on international private medical insurance payors and providers. They may be searching for a new partner, looking for a contact number of a current provider, or researching the payor and provider market for future cross border network development.

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Provider Network Members 

Click a company name below to visit their micro web site on iPMIM and learn more or download the brand new e-directory using the above link. To add your business to the e-directory and launch a micro website please write to David Bond, CIO, iPMIM on ipmi[at]ipmimagazine.com

PAYORS AND PROVIDERS IN FOCUS:

IPMI

ASSISTANCE

AIR AMBULANCE

COST CONTAINMENT AND CLAIMS MANAGEMENT

FUNERAL DIRECTORS

INSURANCE TECHNOLOGY

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

Read more...

International Private Medical Insurance Magazine Provider Network Directory April 2022

Welcome to iPMI Magazine 2022.

The April 2022 edition of the International Private Medical Insurance Magazine Provider Network Directory, is out now, featuring over 80 pages of international private medical insurance and medical assistance company intelligence.

The iPMI Magazine network consists of a wide range of leading international medical payors and service providers, on call, 24/7 to assist you manage worldwide medical risks during a global pandemic.

The international medical insurance network covers all sectors of the global medical insurance business, and you can use the directory to source new partners and service providers. Simply use the the contact details within the network directory to connect with new partners and customers. 

The IPMI market use the iPMI Magazine Provider Network Directory to source the best information and data on international private medical insurance payors and providers. They may be searching for a new partner, looking for a contact number of a current provider, or researching the payor and provider market for future cross border network development.

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Provider Network Members 

Click a company name below to visit their micro web site on iPMIM and learn more or download the brand new e-directory using the above link. To add your business to the e-directory and launch a micro website please write to David Bond, CIO, iPMIM on ipmi[at]ipmimagazine.com

PAYORS AND PROVIDERS IN FOCUS:

IPMI

ASSISTANCE

AIR AMBULANCE

COST CONTAINMENT AND CLAIMS MANAGEMENT

FUNERAL DIRECTORS

INSURANCE TECHNOLOGY

DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

Read more...

Healthcare International Acquires International Business Of Integra Global

The Board of HCI are delighted to announce that it has acquired the international business of Integra Global, the expat and marine insurance specialist.

‘A’ rated capacity will continue to be provided by MGEN (Mutuelle Générale de l'Education Nationale) allowing HCI to provide an even wider range of insurance solutions for brokers and customers alike. HCI will operate with both the Integra Global and MarineSure brands for the foreseeable future.

The acquisition does not include Integra Global’s locally admitted plans in the UAE or its reinsurance brokerage activities.

Ian Wood, CEO of HCI commented, “Since our Management Buy Out in June 2021, we have continued to seek growth opportunities, both organically and by acquisition, to maintain a leading position in the IPMI market. Integra Global brings a strong brand, and a history of excellent service offered through an extensive product suite. Our merged portfolios, together with our renewed agreement with MGEN, will accelerate HCI’s growth, and significantly expand our range of valuable products to both customers and brokers. I am excited to work with Philip and his team to integrate their business into the HCI portfolio”

Philip Catterton, CEO of Integra Global said, “We were very impressed by the HCI business model and Ian’s customer centric vision. I have no doubt that HCI will further build upon the service and values that have underpinned the Integra Global brand over the last 23 years and I will personally oversee the transition of the Integra Global international portfolio to HCI whilst we focus our attention on developing locally admitted solutions in strategic markets”

The HCI group of companies specialise in the design and distribution of International Private Medical Insurance products to expats, students and digital nomads across the globe. HCI is owned and backed byPrefequity, a private equity house renowned for successful and sustainable investment.

Since 1999, Integra Global has specialised in designing health plans for organisations and individuals with unique health protection needs, such as expatriates and marine professionals.

 

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Mandatory Health Insurance In Qatar Comes Into Effect

Ian Youngman, Author and Publisher of the upcoming INTERNATIONAL HEALTH INSURANCE 2022 and new companion iPMI reports, takes a look at how the new health insurance law in Qatar, may affect insurers.

In Qatar it is perfectly fine to be late for meetings as time is flexible.

Which makes it no surprise that with compulsory health insurance becoming law in May, that a few weeks before, boring details such as the full regulations have still not been published. The law sneaked out at the last minute.

The new law

Despite what you my have read or seen elsewhere, the law has been put into action. True, there may be delays while employers, lawyers, brokers and insurers work out the detail.

6 May 22

Legislation making it compulsory for expatriates and foreign visitors to Qatar to take out health insurance came into force on 6 May 2022.

The basics

Under the new law, Qatar’s law no. 22 of 2021, employers are required to provide basic health care coverage for their employees.

The policy includes coverage for basic services and emergency cases for those under 60 years of age as well as coverage for chronic illnesses.

Bonus for Qatar health insurers

As the insurance is not a central one but where health insurers compete, it is a welcome bonus for health insurers in Qatar. They must be licenced locally as offshore cover is not allowed.

According to the rating agency Standard & Poor's, the new plan is expected to generate a premium ranging from 1 billion QAR (272.62 million USD) and 1.5 billion QAR (408.93 million USD) a year.

If you add in top up cover, the scheme will contribute to around QR1.7bn to QR2.2bn to the health insurance industry.

There will be another bonanza in 2022 with 1.5 million visitors expected to join the scheme to attend the FIFA World Cup Qatar 2022 this year who will be insured, increasing the cash flow and generate additional spending in the insurance sector and other services as well.

Background.

The health insurance scheme was introduced in November 2021 by the law number 22 of 2021- regulating the health services in Qatar.

The Ministry of Public Health (MoPH) says that the new health insurance system will reduce waiting times in the government health facilities in the country and provide appointments for medical consultations within a time that meets the health needs of citizens.

Basic healthcare for expats will be provided by new healthcare services, not all of which are built yet.

The Ministry of Public Health

MOPH is the regulator for healthcare and the driving force behind the law.

The new law consists of 6 chapters including 48 articles and it is expected that the MOPH will publish supplementary regulations.

This is still a moving feast and not all MOPH notices are translated or translatable.

Insurers

Only health insurers health intermediaries and healthcare providers registered in Qatar can offer the compulsory cover.

The IPMI exclusion appears to only apply to visitors, not expats or temporary workers.

Employers who do not cover their workers will be fined.

There is no provision for insurance paid healthcare outside of Qatar.

Those who are not already registered to do business as insurers or brokers in Qatar will take months or years to get registered.

Basic Health Insurance

Expatriates and visitors must have health insurance to acquire basic healthcare services.

Basic Health Insurance cover is required for the issuance of entry permits, residence permits and expatriates employment.

Basic Health Insurance cover is required for the renewal of both entry and residence permits.

Sponsors and employers must cover non-Qatari employees and their families with mandatory health insurance through contracts with registered insurance companies.

Employers and sponsors (the latter is for domestic workers) must pay the insurance fees of the employees and their families, provide them with the Health Insurance card and demonstrate that their workers are covered by the mandatory health insurance.

Visitors shall either buy local health insurance or prove that they have international health insurance valid in Qatar.

Existing IPMI policies

There is no exclusion for expats or temporary workers-or employers- that have IPMI to avoid buying the insurance.

But Visitors shall either pay their health insurance fees or prove that they have an international health insurance that is valid in Qatar.

Top up cover

Health insurers can offer top up cover.

Extra cover

Insurers and employers can offer cover above the basic required.

Pricing

Insurers can compete on price.

Citizens

There is no plan to include Qatari citizens.

Target market

Qatar has a population of 2.94 million- this includes 2.11 million expats.

88% of the population are non-Qataris - the highest in the world.

Expats 25% Indian, 12% Bangladeshi, 10% Filipino, 9% Egyptian, 6% Sri Lankan.

The impact

Local insurers predict that 2 million expatriates will have to buy, via their employer, this health insurance.

The country’s health insurance sector will benefit from it and will double the employment in the healthcare industry providing better quality of healthcare services and technologies.

How it fits in

Qatar National Vision 2030 aims at transforming Qatar into an advanced society capable of achieving sustainable development by 2030. This strategy focuses on four important pillars – environmental, human, social and economic. That is why understanding, and implementing a successful healthcare strategy and health insurance program is important. 

The healthcare mandatory scheme is an essential part of achieving Qatar National Vision 2030. Health insurance is part of employee benefits, and this is the best and most effective way that organisations use to retain employees, keep their morale up and satisfied, argues the government.

Citizens

Qatari citizens receive health care services at the government facilities free of charge.

The State of Qatar provides national health cover for all residents of Qatar by providing them with a National Health (Hamad) Card.

The National Health Insurance Company (NHIC) manages and operates the social health insurance scheme in the State of Qatar. The scheme, which provides universal health insurance for all people in the country, offers its members a choice of providers from across the public and private sectors.

Qatar has a public health service that provides free or highly subsidised healthcare and, generally speaking, it is of an excellent standard

Healthcare

To keep up with the higher demands hospitals and clinics will be investing in expansion and there will be competition to attract more patients and to cope up with high number of visits. There will be better services and more technologies in the healthcare sector, and more profit is expected which will encourage employment for the healthcare providers.

The local insurers

International health insurers will benefit but face competition from a host of local health insurers- many of whom can compete on technology and expertise.

The increased cash flow and operation will end up generating higher profit that will allow companies to expand and increase their staff and be able to invest in technology.

Key locals include:

Doha

Doha Insurance Group is a Qatari shareholding company registered an incorporated in the state of Qatar and listed on Qatar Exchange Doha

It offers a range of insurance including local health insurance for companies but not individuals.

NLG

National Life and General Insurance Company (NLGIC) is 73% is owned by the state owned Oman International Development and Investment Company. Other shareholders include local pension funds and Oman Investment Fund

NLG is the market leader in health insurance in Oman with individual and group PMI and a claimed 65% market share.

It has ambitions beyond Qatar and has just bought RSA Middle East from Sun Alliance Insurance Overseas- including a local health insurance portfolio.

QLM

QLM Life & Medical Insurance Company is a Qatar Public Shareholding Company recently spun off from Qatar Insurance Group

QLM is the largest provider of group medical insurance in Qatar and has been picking up large accounts in 2021.

QLM claims the largest share of the health insurance sector within the local market.

Conclusion

The UAE, Saudi Arabia, Egypt, and Bahrain cut ties with Qatar in June 2017, accusing Doha of supporting terrorism. Qatar denied the accusations. They all made up a few months ago. But this left a legacy where insurers in other Gulf states had either closed their Qatar office or ceased doing business. The making up and new insurance rules means they have not caught up in time to set up local insurers.

The solution may be as one is doing, to partner with a local insurer.

It has been suggested that Qatar timed the new rules so that local health insurers have a starting advantage.

If you are an IPMI insurer licensed for PMI in Qatar this is going to offer massive potential but competition will be fierce.

Existing offshore or onshore PMI or IPMI policies will remain valid until renewal although if they do not cover the basic covers or are by an insurer not authorised in Qatar, the MOPH can question the validity.

All future policies must comply.

There will be a burgeoning and competitive PMI/IPMI market in Qatar.

There are a dozen reputable and sound local insurers, many authorised to write health insurance.

Several global health insurers write PMI/IPMI in Qatar but only a few of these have local offices.

Health insures with local offices include Allianz and Met Life while Fairfax is part-owner of Gulf Insurance Group and Munich Re has shares in Daman.

Some global health insurers may have missed the boat.

About The Author

Ian Youngman is a writer and researcher specialising in insurance. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports and undertakes research for companies and has London market management experience with brokers and insurers. 

Read Ian's iPMI market reports here.

 

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