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Adrian Henry Joins Bellwood Prestbury

Bellwood Prestbury, the specialist global insurance broker, are pleased to announce that Adrian Henry has joined the firm, following a seven-year posting working as the Chief Underwriter Officer for the leading insurance company in Afghanistan.

Adrian brings with him a huge wealth of knowledge in multi-line commercial insurance, gained through more than 30 years of professional industry experience in major markets and in remote, post-conflict and challenging high-risk environments.

Working with government, international donors and multiple industries, Adrian was the architect of the first private medical scheme in Afghanistan, a scheme which has been responsible for improving medical services and the administration of medical care in the country. Adrian is an expert in negotiating insurance and reinsurance support for significant liabilities, including general/professional liability, death and disability, life, kidnap and ransom, fleet, motor, property and contents, cargo, construction, trade credit, political risk and political violence coverage.

Prior to living and working in Afghanistan, Adrian held senior positions within the insurance industry based in London and New York, and has unique underwriting and broking experience reinforced by on-the-ground international expertise.

Peter Bellwood, Managing Director comments, “Adrian is a well-known and respected professional in the international commercial insurance arena.  He brings with him a wealth of experience and specialist knowledge, which will deliver significant value to Bellwood Prestbury’s clients who demand and expect the very best when it comes to protecting their personnel and operations in complex, challenging and remote environments around the world.

We are delighted to welcome Adrian and his expertise to the team, as we continue to grow our reputation as the leading specialist for businesses that require cover for high-risk occupations and remote or hostile territories”.

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National Friendly Private Medical Insurance Plan To Ease NHS Waiting Times

National Friendly is pushing its Out Patient Optimum product as a potential solution to UK GP waiting times. The private medical insurance plan offers a range of benefits which importantly includes the ability for customers to gain immediate access to a network of private GPs across the UK, making it particularly suited to patients who are time-poor or who are not prepared to wait on average 13 days for a GP appointment in England.

A recent survey of 830 GPs by Pulse , the monthly GP news magazine and website,   has shown that the average wait for a GP appointment is now around 13 days in England, despite changes introduced by the NHS to alleviate pressures on general practice.  The average waiting time, although stable, is up from 10 days in 2015, according to the data.

The survey also reveals that more than 40% of patients must now wait longer than 14 days for a routine appointment.

Head of Sales and Marketing at National Friendly, Wayne Carter, comments: “GP waiting times are a highly visible issue for the NHS, as a visit to the GP is key to unlocking access to both NHS and private care, even for relatively minor ailments. Delays of up to two weeks inconvenience many, so we have designed a straightforward insurance plan that allows easy access to a private GP when needed.”

There are currently around 371 private GP nationally in the UK.

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How To Communicate In A Medical Emergency In Philippines

Pacific Cross International understand that when you live abroad or travel overseas, the simplest task can become a huge challenge. To find the right word is always a moment of distress and communication is critical, especially in the golden hour. The Pacific Cross International language tips info graphic will help you to stay calm in an emergency situation.

Pacific Cross International brings over 65 years of experience to the health and travel insurance industry in Asia providing health insurance to over 75,000+ people, representing 57 nationalities living in 43 countries. In 2014 the group provided travel insurance for 2,642,514 travel days for over 200,000+ people.

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How To Communicate In A Medical Emergency In Indonesia

Pacific Cross International understand that when you live abroad or travel overseas, the simplest task can become a huge challenge. To find the right word is always a moment of distress and communication is critical, especially in the golden hour. The Pacific Cross International language tips info graphic will help you to stay calm in an emergency situation.

Click here to view info graphic

Pacific Cross International brings over 65 years of experience to the health and travel insurance industry in Asia providing health insurance to over 75,000+ people, representing 57 nationalities living in 43 countries. In 2014 the group provided travel insurance for 2,642,514 travel days for over 200,000+ people.

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Understanding PMI And IPMI Market Size Per Country

One of the most frequently asked questions we get asked at iPMI Magazine is what is the size of market for PMI and iPMI by country, and globally?

Before we answer that, answer the following 2 questions:

If a Frenchman living in London buys an IPMI policy from a French broker who uses an Irish insurer that is part of a German group for cover in a Gulf state where insurance has to be fronted/shared by a local insurer; Which or how many of these 5 countries do you book the premium into? Which currency do you measure it in?

If an American living in Cuba buys an IPMI policy from a Bermuda broker for a job in Trinidad and uses a UK insurer that works from a local office in the USA but pays claims from a global claims centre in Romania, how many of the 6 countries do you book premium and claims to?

It isn't so simple is it?

Coupled with the following facts breaking down the market size for PMI and IPMI is a complex if not impossible task:

Back-in-the-day Insurers would publish detailed by product or by country info but now they try to avoid it, as it is competitive gold dust.

Many country figures only cover onshore health insurance and not offshore so can mislead you when looking at the market value in countries that do not demand local cover.

Some big European and American global insurers only publish on a vague regional basis, or on types that lumps health in with life and accident covers.

In many smaller countries the offshore IPMI market is far bigger than any onshore PMI or IPMI market - and in some countries there is no domestic health insurance at all.

Few countries demand annual insurer returns by product and those that do ask for vague health, accident and protection figures. The definition of protection is so vague, it is open to interpretation. 

Currency conversion is a huge problem too - 2015 figures from various big insurers show that income and profit figures can vary by plus or minus 30% depending on what currency and what conversion rates are used.

Internet Facts

In the complex world of IPMI there is no space for "Internet Facts".

Facts from a country, insurer or trade body, are generally reliable but even "official" figures have to be watched as within Health there can be hospital cash or top-up covers and other non full PMI or IPMI figures.

Where governments demand returns on health insurance or there are official competition enquiries then there are some excellent numbers to crunch.

Understanding The PMI And IPMI Report Market

Unfortunately in 2016 there are so many sub-standard boiler plate healthcare, insurance and expatriate reports. They claim to have health insurance country figures, but when you shell out thousands of pounds of R & D budget, and look for yourself, they mix accident and health and protection together; and strangely they all seem to predict growth for the next five years of 20% a year.

We have seen reports that profile the top ten insurers' and base the country figures just on the rough claimed figures- where the top ten miss out more than half the market.

There are reports which show insurers country market share but the total always seems to add up to well over 100%!

So, how can we understand the size of the PMI and IPMI market?

International And Expatriate Healthcare And Insurance 2016 is the only reliable source of information that can be trusted to answer your question and even then there are still some gaps. But this is critical: this report deals in facts, not crystal balls.

The 2016 edition is the result of over a decade of specialist research and report writing and is the answer for insurers, brokers and corporations who struggle to break the market down.

Where there is decent data available, it is included and all data has been carefully researched, checked and verified with no outlandish or generic claims made. Past performance is not always a representation of future results.

2016 IPMI Report Facts And Features That Will Help You Size The Market:

Download the 2016 report information kit, click here.

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Chase Templeton Scores Four With Wellbeing Health Insurance Acquisition

Private medical insurance consolidator Chase Templeton has completed its fourth acquisition of 2016 with the purchase of Manchester’s Wellbeing Health Insurance Ltd.

The deal has seen the Darwen, Lancashire, headquartered business acquire a book worth nearly £880,000 in annual premium income, of which 80 percent is generated by SME clients. 

Completion of this latest transaction follows last month’s acquisition of Leeds-based Independent Health Services and January’s purchases of Preston’s Health Equity Solutions and Caledonian Health Solutions of Kelso. 

Wellbeing was owned by Graham Harfleet who is relocating to Scotland after his wife and fellow director Elizabeth secured a new position with the Methodist Church.

 “Whilst not one of our bigger acquisitions, Wellbeing Health Insurance nonetheless brings another solid and valuable SME client book to the business,” commented Chase Templeton’s chief executive officer, Warren Dickson. “It’s a good buy which also precedes a trio of more substantial deals which are pipelined for completion between now and the end of May.” 

The acquisition maintains the momentum of the company’s aggressive buy and build strategy which was has seen Chase Templeton become the leading consolidator in the UK’s PMI sector. 

Since securing backing from Manchester finance house Palatine Private Equity, the company has completed over 60 deals, including high profile acquisition targets such as Atlas Consulting Group, Avanti Healthcare and Consilium Employee Benefits.

The company now manages policies worth over £150m and employs some 115 staff across its three UK sites.

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Punter Southall Health & Protection Launches Expatriate Benefit Solutions

Punter Southall Health & Protection, one of the largest health and protection advisers in the UK, has launched Expatriate Benefit Solutions, a unique service to support employers with expatriate staff.

The new service is especially relevant for employers with small numbers of expatriates looking to expand and diversify their business overseas and is provided in association with Healix International, Morneau Shepell, and Bupa Global.

Commenting on the launch, Teresa Wighton, Head of International Healthcare Consulting, Punter Southall Health & Protection, says: “A successful international assignment needs careful consideration, planning and substantial resources. The average cost of an assignment can be significant and failure can therefore not only be costly, but also result in reputational damage for the company and the loss of valuable employees. Our new service helps reduce these risks and provides employers with the valuable support services that can help employees and their families settle into a new environment.”

The service comprises three inter-related components - pre-assignment screening, a cultural training and expatriate employee assistance programme, and international medical insurance.

Pre-assignment screening is provided by Healix International, using a simple online health questionnaire which is completed for all family members and assessed by a medical team. This is then used to determine if employees or their dependants have any underlying health issues or conditions to enable the right support to be put in place before an assignment starts.

Jon Atkins, Director of Business Development, Healix International, says “Many of the illnesses and health related problems suffered by business travellers and expatriates while overseas are both predictable and preventable. With the experience we have gained through the 12 million medical screenings we carry out each year, we are able to provide a comprehensive and cost effective online solution for assessing the health risks facing employees and their dependants.”

The cultural training and expatriate employee assistance programme is provided by Morneau Shepell and is aimed at helping employees settle into a new work environment and help their families adapt to their new lives. It comprises:

  • A three-hour cultural training programme where employees learn skills and knowledge to live and work effectively within a different culture, and families learn how to communicate around feelings regarding the international assignment.
  • A unique employee assistance programme (EAP) tailored specifically to support the needs and challenges facing expatriates. The service is 24/7 and provides access to 250 expatriate counsellors in over 70 countries, who all have personal expatriate experience.

Richard Albert, Vice President, Global Business Development at Morneau Shepell, says: “We are a leading and experienced expatriate EAP provider that has the unique understanding of the psychosocial impact of international relocation on diagnosis and treatment of problems. This clinical understanding enables us to effectively address expatriate problems and the spill over of these into the workplace. We also take a dual mandate, not only to provide short-term solution-focused counselling support, but also to sustain expatriates while on assignment.”

Bupa Global is providing the international medical insurance for this new service.  Ian Abbott, Head of Intermediary Distribution UK, Bupa Global, says: “Punter Southall Health & Protection partnered with Bupa Global to develop international medical insurance plans that fit the needs of expatriates wherever they are in the world. The products are available exclusively to clients of Punter Southall Health & Protection and are designed to give the ultimate assurance and peace of mind when sending employees and their families overseas. They provide cost effective, benefit rich cover, supported by a range of on-line services and 24/7 helpline advice and support.”

 

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Punter Southall Health & Protection Launches Post Hospital Service

Following the launch of its Med24 GP app in October 2015, Punter Southall Health & Protection, one of the largest health and protection advisers in the UK, has continued its innovative approach to healthcare and protection benefits with the launch of a unique Post Hospital Discharge product.

Available to all employers wishing to extend their health and wellness benefits at a minimal cost per member, it bridges the gap between discharge from hospital and full recovery.

The Post Hospital Service has been designed to look after employees when they come out of hospital after a stay of 48 hours or longer. The stay can be for any reason (except pregnancy), whether planned or emergency, and includes NHS or private care and so is relevant to the whole work force, not just those in a corporate health scheme.

To create the service Punter Southall Health & Protection has teamed up with Red Arc Personal Nurse Advisers and Collinson Group to offer seamless, medical, emotional and practical support for employees when they come out of hospital.

As well as unlimited nurse adviser support, the service provides help at home by high quality, Care Quality Commission (CQC) accredited, domiciliary care providers. This practical help is tailored to each person’s needs and can include a variety of services such as personal care, domestic duties, collecting prescriptions and arranging transport to appointments.

Commenting on the new service Jan Lawson, Executive Director of Punter Southall Health & Protection said, “Being medically well enough to leave hospital is not the same as being better. Extra support after returning home is often necessary, but rarely provided. Everyone is different and this product combines practical help, emotional support and a personalised “Get well, Stay Well plan” for an unlimited period.”

Adds Lawrence Watts, Business Development Director, Insurance & Assistance, Collinson Group, ‘We are delighted to be working with Punter Southall Health & Protection as it continues to broaden the offer of innovative Health and Protection products and services to its employers and their members.  We look forward to working alongside Punter Southall Health and Protection by providing first class assistance in the form of practical help through our accredited domiciliary care network at a time when it is needed most.’

By helping to support full recovery, the service will benefit employees and their families as well as the sponsoring employer, who will be seen as a caring employer, while assisting members to return to work more quickly and having less chance of relapse or future illness.

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UK Niche Insurance

A new series of research reports about niche insurance lines in the UK indicates that these generally offer better growth prospects for underwriters than mainstream motor, household and commercial lines insurance, and that for most of them distribution via affinity and corporate partners is key to success.

In total, the series covers 20 different niche insurance products ranging from motor cycle insurance to boat, yacht and pleasure craft cover, and from landlord rent guarantee policies to tax investigation insurance. In total, premiums associated with these 20 niche lines are likely to exceed GBP 5 billion by 2018 with their predicted weighted compound annual growth rate from 2014 to 2018 averaging out at 3.3% in nominal terms given that premiums were worth a total of around GBP 4.4 billion in the former year.

"Worth over GBP 1 billion in gross written premiums in 2014, the most valuable of these 20 markets is that for non-standard and listed property insurance", commented Francisco Leitão, Consultant at Finaccord. "However, in descending order of their forecast growth rate, those predicted to increase in value most rapidly in future are extended warranties for cars, landlord rent guarantee insurance, caravan and park home insurance, classic car insurance, landlord property insurance, excess protection insurance, and pet and personal equine insurance, premiums for all of which should rise at a nominal compound annual rate of more than 5% between 2014 and 2018. In fact, across the 20 niche policy types investigated, only GAP insurance is likely to fall in value up to 2018 with this probable decline due to new regulations affecting sale of this product via car dealers."

Separate research released by Finaccord in recent weeks indicates that the predicted compound annual growth rate of 3.3% up to 2018, while not sounding especially high, is nonetheless better than that forecast for personal motor, household and commercial lines insurance in the UK (at a respective 1.2%, 3.1% and 1.4% over the same period from 2014 to 2018). 

A further notable finding from the research series is that distribution via affinity and corporate partners is important to winning business in most of these 20 niche lines. In fact, as an unweighted average across all 20 of them, around 46% of new sales are attributable to such partners (including aggregators) ranging up to 90% or more in the case of extended warranties for cars and GAP insurance, both of which are mainly sold through the automotive trade (i.e. car dealers and manufacturers). Distribution via brokers (including those acting as tied agents or IFAs) is also very significant at an unweighted average of around 39% of new sales of these policies peaking at approximately 90% in the case of key person cover and related types of life protection insurance sold to business customers and at around 80% for bicycle insurance. On the other hand, an unweighted average of only 15% of new business is secured through direct sales by underwriters with a maximum of around 40% in the case of van insurance.

"Our research shows that there is usually a significant number of affinity and corporate partnerships for these niche insurance products the nature of which varies by product type", concluded Francisco Leitão. "These can vary from holiday rental companies for holiday and second home insurance to jewellers in the case of jewellery and watch insurance, and from universities for student contents insurance to retailers offering wedding lists when it comes to wedding and personal event insurance. Some of these relationships are controlled by underwriters but the majority have been set up by brokers and, clearly, holding the right partnerships is important for achieving success in many of these niche markets, especially as most of the products are not especially suited to being sold through the aggregator channel."

 

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Chase Templeton Completes Avanti Healthcare Acquisition

The acquisition brings a further £6.8m of annual premium income (API) and over 1,500 clients to the fast-growing business. Around 60 percent of that income is generated through SME policies, further strengthening Chase Templeton’s position in its core market within the company health insurance sector.

Following a series of acquisitions, including major deals with Atlas Consulting Group and Consilium Employee Benefits, Chase Templeton has now added some £40m API to its books in the last three months and £55m in 2015 as a whole.

Avanti Healthcare was founded in 1996 by chief executive Glen Smith who is exiting the PMI sector in order to concentrate on his Avanti Travel Insurance business. “I and my colleagues have spent nearly 20 years nurturing Avanti Healthcare into a very successful, well-respected and well-known specialist broker. When I decided to focus resource and attention on our growing travel business I sought a buyer who would not only let me realise the value of assets, but inspire confidence that Avanti Healthcare clients would continue to benefit from the best possible advice and service.

“Chase Templeton’s acquisition model is predicated on delivering both those things.”

Jeff Tate, Chase Templeton’s mergers and acquisition director, said the new deal supported one of the company’s key strategic aims. “Avanti brings to us not just a sizeable but a high quality SME client base as indeed did Atlas and Consilium. These and other acquisition, completed and to be concluded, place us firmly on the path towards becoming one of, if not the, key national player in the crucial SME space.” 

He confirmed that Avanti would be Chase Templeton’s last major acquisition this calendar year but added that further significant deals are pipelined for the first quarter of 2016.

Avanti’s SME clients will be serviced via Chase Templeton’s Corporate Centre of Excellence at its headquarters in Darwen, Lancashire. Nearly 1,000 private individual policies will be managed by a specialist team at the Individual Centre of Excellence in Bridgwater, Somerset.

 

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