International private medical insurance company, International Medical Group® (IMG®) has announced that Steve Paraboschi has been appointed as Chief Executive Officer, effective immediately. 

In addition to his new role, Paraboschi will continue to serve as President of IMG. 

Paraboschi succeeds Brian Barwick, who will remain engaged with the company as an Executive Advisor.  

“We are proud to recognize Steve for his hard work and dedication to IMG over the last several years,” said Barwick. 

"Steve has been instrumental in steering IMG to adapt to the changing insurance environment while remaining committed to driving strategic growth.  Steve’s deep understanding of the international insurance and assistance industries together with his leadership skills make him the perfect person to lead IMG into the future.” 

Paraboschi joined IMG in 2017 as Executive Vice President, then was appointed President of IMG in January of 2020. With over 25 years of experience within the broad financial services industry, Paraboschi came to IMG from AXA Assistance USA, where he served as the Chief Executive Officer, managing the P&L, driving alignment to global strategies, and developing innovative product distribution models.  

Prashanth Gangu, Chief Operating Officer and President of Insurance & Services of IMG parent company, SiriusPoint Ltd. (‘SiriusPoint’) said, “I am delighted to welcome Steve to the role of Chief Executive Officer of IMG. As an innovative, fast-growing, tech-enabled MGA that holds wide competitive advantages, IMG is a core part of SiriusPoint’s value proposition and a key element to our long-term success. I am excited about what Steve and his team can achieve, backed by SiriusPoint, and building on the superb job Brian has done to grow IMG into an international leader in the international medical insurance, global assistance, and travel insurance space. Steve brings a wealth of experience and with it a new chapter in IMG’s evolving story.”  

 “It’s a tremendous honor to take on the role of CEO at IMG and I’m grateful to Brian and Prashanth for the trust and faith they have shown in me to lead the company forward,” said Paraboschi. “During my tenure at IMG, we’ve generated significant momentum in the marketplace, and I look forward to accelerating this growth in the coming years with a continued focus on 'Being There' for our members, clients, producers, and employees." 

Leading international private medical insurance provider, Now Health International (www.now-health.com) has analysed almost 120,000 claims made by its customers and can now reveal the top twenty diagnoses in terms of frequency since the company started trading in 2011.  

Topping the list is Acute Bronchitis followed by sprains and strains and then lower back pain.  The full list is as follows:

1. Acute Bronchitis
2. Sprains and strains
3. Lower back pain
4. Acute Nasopharyngitis (common cold)
5. Diarrhea and Gastroenteritis
6. Fever
7. Cough
8. Urinary infection
9. Conjunctivitis
10. Gastritis
11. Chest pain
12. Rashes
13. Headache
14. Cervicalgia (neck pain)
15. Vitamin D deficiency
16. Influenza
17. Asthma
18. Eczema
19. Abdominal and pelvic pain
20. Dizziness and giddiness 

The top ten claims accounted for 77% of all claims made and the top twenty, 17%. Claims for list-topping Acute Bronchitis/Bronchiolitis amounted to 16% of all claims spread across the four years.

Although it didn’t make the top 20, Now Health has also somewhat interestingly received 29 claims for dog/other mammal bites over the last four years.  

Now Health’s Marketing and Ecommerce Director, Alison Massey, said, “As an Asian-headquartered business, much of our customer base reside in this part of the world. The region often experiences poor air quality due to pollution and other factors such as haze that comes from crop burning so it seems logical that a respiratory illness should top our list.” 

Massey continued, “We were also initially surprised at the number of claims associated with Vitamin D deficiency. However, we have discovered that it is the most common nutritional deficiency worldwide for both adults and children. And with many of our members based in the Middle East who spend much of their time in indoors and out of the blazing hot sun, it’s more understandable.”

Now Health International is one of the fastest growing providers of IPMI solutions for Global Expatriates, High-Net-Worth individuals and Small to Medium Sized Enterprises.  Just four years old and with more than 130 years of collective IPMI management experience, Now Health already has offices in the UK, Dubai, Hong Kong, Singapore, Shanghai, Beijing and Jakarta, with Abu Dhabi coming soon.

In the most recent International Private Medical Insurance Magazine Executive Round Table business forum, we speak with leading C-Level Executives about the major differences between international and local health insurance plans.

As expatriate hot spots around the world continue to mandate health insurance cover for expat employees, under various visa and employment laws, questions from the business community continue to be raised. Issues focus around how new laws will help and assist expatriates and what levels of cover they may expect from local health insurance plans.

International Assistance Group has significantly grown its network of independent assistance companies after they launched a Partnership Program in 2012. Companies from all over the world rely on International Assistance Group’s experience and expertise, this is why Skyservice Air Ambulance, a leader in the Canadian market joined the network as Preferred Provider in Canada.

International Assistance Group (IAG), with its unique business proposition of “Local Partners, Global Solutions”, counts today with 64 Partners around the world, which are accredited as per three levels, Core Partners, Assistance Partners and Preferred Providers. Skyservice Air Ambulance has been in business for over 25 years, based in Montreal, Quebec and Toronto, Ontario, Canada. The company operates a fleet of three Learjet 45XR’s all of these aircraft are equipped with dual Lifeport stretcher systems and have the capabilities to transport two patients comfortably aboard the aircraft.

“Skyservice Air Ambulance has been one of the oldest providers of International Assistance Group. With their inclusion into the IAG network of Air Ambulance Preferred Providers, our company will benefit from the knowledge and experience of that long established company well-recognized in the industry”, mentioned Cécile Hermetz, General Manager of International Assistance Group.

Since inception in 1989, Skyservice Air Ambulance has successfully transported patients to over 180 countries and continents worldwide. This includes safely transported incident and accident free to approximately 26,000 patients. The company is accredited by EURAMI for Intercontinental Fixed Wing Operations with medical endorsements for Adult and Pediatric Critical Care and licensed by the states of Florida and Nevada EMS. The air ambulance company is ready to respond and transport patients who fall ill in the US to Europe, Middle East, Africa, Asia, and Australia.

The new IAG Preferred Provider is able to transport patients to 190 countries around the globe. The company’s capabilities include adult, neonatal, and pediatrics. They maintain specialty teams from their university medical centre for transports involving inter aortic balloon pump and ECMO patients. As an example, in the past year, Skyservice Air Ambulance transported a pediatric patient on ECMO for a long distance from Japan to the USA. Skyservice Air Ambulance is a pioneer in the field of wing to wing critical care transport with its latest trip from South Africa with a South African provider. The transfer of care took place in the Canary Islands with the patient transferred to the United States. These trips can only be accomplished with acute attention to detail and proper patient transfer procedures to insure maximum success with managed liability for all parties involved.

“We are pleased to be joining the International Assistance Group as a Preferred Provider and we look forward to servicing the air medical transport needs of all IAG Partners worldwide”, expressed David Ewing, Senior Vice President, Global Markets at Skyservice Air Ambulance.

Committed to education and research, Skyservice is affiliated with McGill University Health Care, thus their team is composed of passionate and highly skilled professionals. It is with pride that they live and work every day by their Guiding Principles: Safety, Transparency, Efficiency, Commitment, Values, and Leadership. Skyservice Air Ambulance counts with the following on board medical equipment: cardiac monitoring, defibrillator, pacing, full resuscitation capabilities, in flight laboratory monitoring, multiple medications, IV Drips, nutritional support, oxygen and ventilator management, physician and RN lead care teams supported by highly trained respiratory therapists.

To better service their customers’ needs, the air ambulance recently launched a new website and added some innovative features to it, such as live chat 24/7/365 directly from the site, the abilities to obtain a login and have immediate access to all required insurance certificates, operating certificates, equipment listings and current licenses and accreditations.

About Skyservice Air Ambulance

Skyservice Air Ambulance is a privately held Canadian corporation based in Montreal, Quebec and regulated under Canadian law. Skyservice Air Ambulance was established in 1989 and has become the provider of choice for discerning travel health insurers, assistance companies, underwriters, university medical centres, governments, embassies and private individuals. Skyservice Air Ambulance is a university medical centre based programme affiliated with the McGill University Health Centre with extensive experience in acute adult, neonatal and pediatric care. Skyservice Air Ambulance’s owned aircraft fleet is operated by Skyservice Business Aviation under exclusive contract. 

More: http://skyserviceairambulance.com

About International Assistance Group

International Assistance Group is a limited incorporated company in Paris (France) regulated under the French law and owned by its Partners. This worldwide commercial alliance of independent companies spanning all the links in the assistance value chain was formed in 1992 by five European companies with the aim of helping each other offer quality assistance. The group’s success has attracted accredited companies around the world and it now boasts 64 Partners and Preferred Providers and a turnover of over €1.3 billion. More than 6,700 employees take care of 138 million end users. In 2013, International Assistance Group® handled over 6.0 million cases and 37,000 repatriations.

More: http://www.international-assistance-group.com

BUPA And Blue Cross Blue Shield To Create Largest Healthcare Provider Network In The World

BUPA And Blue Cross Blue Shield To Create Largest Healthcare Provider Network In The World from iPMI Magazine on Vimeo.

Managing The Lifecycle Of An Expatriate

International Expatriate Health Medical Insurance Round Table Business Forum from iPMI Magazine on Vimeo.

About iPMI Magazine

About iPMI Magazine - International Private Medical Insurance Magazine from iPMI Magazine on Vimeo.

iPMI Magazine International Assistance Round Table Business Forum

iPMI Magazine International Assistance Round Table Business Forum - Defining International Assistance In 2014 And Beyond - Out N from iPMI Magazine on Vimeo.

International Private Medical Insurance Magazine Video Advertising

International Private Medical Insurance Magazine from iPMI Magazine on Vimeo.

In the most recent International Private Medical Insurance Magazine Executive Round Table business forum, we speak with leading C-Level Executives about the major differences between international and local health insurance plans.

As expatriate hot spots around the world continue to mandate health insurance cover for expat employees, under various visa and employment laws, questions from the business community continue to be raised. Issues focus around how new laws will help and assist expatriates and what levels of cover they may expect from local health insurance plans.

Aon Benfield launches the latest edition of its Aon Benfield Aggregate (ABA) report, which analyzes the financial results of the world's leading reinsurers in the first half of 2014.

Aon Benfield Analytics estimates that global reinsurer capital reached a record level of USD570 billion at June 30, 2014, an increase of 6% (USD30 billion) relative to December 31, 2013.

This calculation is a broad measure of capital available for insurers to trade risk with and includes both traditional and non-traditional forms of reinsurance capital. The firm's latest study found that capital reported by the ABA group of 31 leading reinsurers increased by 4% (USD14 billion) to USD351 billion (62% of global reinsurer capital), driven primarily by USD18.6 billion of net income and USD9.4 billion of unrealized capital gains. The main offset was USD14.3 billion of dividends and share buybacks.

Further key findings relating to the 29 publicly-listed holding companies in the ABA* include:

• Gross property and casualty (P&C) premiums rose by 4% to USD109 billion, with growth split evenly between insurance and reinsurance business.
• The combined ratio rose by 0.4 percentage points to 90.3%, with P&C underwriting profit unchanged at USD7.9 billion.
• Catastrophe losses declined relative to the prior year and were well below the long-term average.
• Support from the favorable development of prior year reserves declined by 5% to USD2.8 billion.
• Return on equity stood at 12.2% in the first half of 2014, the highest level since 2009.
• Net catastrophe exposures are reducing as risk transfer to the capital markets increases via sidecars, insurance-linked securities and more cost effective retrocession cover.

Mike Van Slooten, Head of Aon Benfield's International Market Analysis team, said, "The influx of alternative capital is lowering risk transfer costs for both insurers and reinsurers, creating a win-win situation that should drive market expansion in the medium-term. Aon Benfield has made major advances in its analysis of reinsurers' financial performance in recent years, in response to growing insurer demand for strategic insight into longer-term industry trends. We are closely monitoring developments in what is a very dynamic environment. As such, peer studies such as the ABA report, which assess comparative performance on a timely basis, are becoming increasingly relevant."

* ABA reports are produced on a half-yearly basis and cover the reported results of 31 major reinsurers worldwide, with the aim of identifying the latest trends in the P&C reinsurance marketplace. The study comprises 29 publicly-listed holding companies ('the listed ABA') and two US-domiciled subsidiaries of Berkshire Hathaway, namely National Indemnity Company (NICO) and General Reinsurance Corporation (Gen Re). NICO entered into a significant intra-group reinsurance transaction with GEICO Group effective January 1, 2014, which has had a material impact on its reported results. To provide a more meaningful picture of the sector's underlying performance, many of the charts and ratios now focus on the listed ABA.

The Great-West Life Assurance Company today announced that it has acquired PlanDirect Insurance Services Inc. (PDAssure), a service provider that markets and administers individual health insurance for Canadians.

The acquisition is effective immediately. PDAssure will retain its name and will operate as a subsidiary of Great-West Life. Financial details of the transaction were not disclosed. "We are very pleased to have reached an agreement with PDAssure to acquire their business," said Stefan Kristjanson, Great-West Life's Executive Vice-President, Group. "Great-West Life and PDAssure have had a successful relationship over the past two decades, supporting the individual health insurance needs of Canadian retirees and families. Now with PDAssure as part of our organization, Great-West Life is strongly positioned to become a leader in this marketplace."

"We were looking to retire from a successful business we had built," said Chief Operating Officer Millar Drummond, who along with his partner, President Rolf Normandin, founded PDAssure in Toronto in 1994. "Our choice of Great-West Life was based on a number of factors, including Great-West Life's commitment to client service, reputation for quality, and leadership in serving the group life and health insurance needs of Canadians."

Drummond and Normandin will continue to be associated with PDAssure for an interim period, to help ensure a smooth transition.

Marsh Canada, a subsidiary of Marsh, a global leader in insurance broking and risk management, announced today the acquisition of Kocisko Insurance Brokers Inc., a full-service commercial insurance brokerage based in Montreal, Quebec.

Terms of the transaction were not disclosed. Kocisko focuses on providing commercial insurance and risk management solutions to construction and surety operations throughout the province of Quebec. The Kocisko team will join Marsh Canada’s National Construction and Surety Practice, and will be based in Marsh’s Montreal location.

“I’m delighted to welcome Terry Kocisko and his talented and experienced team of construction and surety specialists to Marsh,” said Alan Garner, president & CEO, Marsh Canada Limited. “This addition enables us to offer greater resources and a broader platform to serve the needs of construction clients in Quebec.”

“Becoming a part of Marsh Canada Limited is a terrific evolution for Kocisko,” said Terry Kocisko, CEO of Kocisko. “Our clients will benefit from the tremendous service and broader array of capabilities and resources that Marsh has to offer.”