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iPMI Magazine successfully rebranded to iPMI Global in 2023 and has moved to a new home on the internet. To visit the brand new international private medical insurance business intelligence platform, please go to www.ipmiglobal.com

iPMI Magazine

iPMI Magazine

International Private Medical Insurance Magazine (iPMIM) is the ultimate Health and Medical Insurance Digital Media serving expatriate, corporate, health and travel insurance markets. Due to the nomadic nature of the international healthcare industry iPMI Magazine is an internet based news service, for worldwide healthcare professionals, who need to understand the impacts of healthcare and insurance policy, regulatory, and legislative developments. Combined with in depth health insurance industry analysis, best-in-class health insurance industry data, and exclusive, C-Suite Executive health insurance interviews and round tables, iPMI Magazine bridges an information gap between healthcare payor, provider and patient. Written by the health and medical insurance industry, for the health and medical insurance industry, iPMIM is supported and designed by leading international medical insurance companies and service providers.

Website URL: http://ipmimagazine.com

Foyer S.A. Acquires Globality S.A.

March 10, 2023 and Foyer S.A., Luxembourg's leading privately owned financial group, signed an agreement to acquire 100% of the shares of Globality S.A., owned by ERGO Reiseversicherung AG, which is part of ERGO Group AG. This transaction is subject to the approval of the “Commissariat aux Assurances”.

Leadership in international health insurance

With this acquisition, Foyer S.A. is investing in a high-potential business sector and strengthening its position in international health insurance for expatriates, also known as IPMI ("International Private Medical Insurance"), an activity it has developed since 2014 through its young brand Foyer Global Health.

Globality’s team will integrate Foyer Group and will remain the trusted contact for Globality's distributors and customers. The combined expertise of Globality and Foyer Global Health’s teams will enable Foyer Group to further develop its activities and accelerate growth in the area of IPMI.

Bringing together two highly competent teams and advanced digital resources will focus on delivering enhanced services to all clients and distribution partners around the world.

Strategic partnership and development of synergies

Alongside the acquisition, Globality, Foyer and ERGO are developing a partnership in the field of distribution and international service centres. For example, Foyer Global Health / Globality IPMI products and solutions will continue to be integrated into ERGO and DKV's extensive international distribution network, which will benefit all of their customers.

Foyer will also retain Globality’s current relationships with ERGO’s international service centres, which will be key to ensuring continuity for current customers and offer a top tier service level to all its customers around the globe.

A win-win transaction

Through the acquisition of Globality, Foyer Group strengthens its position in the international health insurance market, while Globality brings its expertise and territorial reach, accelerating the expansion of its business.

Through this transaction and their partnership for the future, Foyer S.A. and ERGO are joining forces in distribution for the benefit of all Foyer Global Health and Globality partners and clients.

Marc Lauer, CEO of Foyer S.A. comments, "I am delighted to announce the acquisition of Globality, as it will undoubtedly enable us to accelerate our growth in the international health insurance sector.

While allowing us to continue providing our clients with the highest quality of service worldwide, this opportunity will take Foyer as a brand higher at an international level."

Founded in 1922, Foyer S.A. is a leading financial player in Luxembourg, celebrating its centenary in 2022. Its solidity lies in the strength of its shareholding, but also in the work of its 830 employees in three countries and its 625 agents in Luxembourg. Leader of the local life and non-life insurance, Foyer is active in several European countries through three business lines: insurance, benefit protection insurance and wealth management. Its extended range of products is aimed at individuals, professionals and companies, to whom it offers high-end and innovative services. Conscious of its corporate social responsibility, Foyer Group has also been involved for many years in general interest and solidarity projects.

Part of Foyer Group, a main financial and insurance player in Luxembourg, Foyer Global Health offers expatriate individuals and professionals, as well as their families, a complete range of health insurance cover that gives them access to top medical specialists and high-quality medical services around the world. Foyer Global Health's products are available directly online and are also distributed through an extensive network of trusted partners, such as international brokers and service providers.

 

Trawick International Celebrates 25th Anniversary

Trawick International, an industry-leading international insurance company, is celebrating 25 years of providing insurance solutions that support today's globally mobile population.

Founded by Daryl Trawick in February 1998, Trawick International began as an insurance broker providing solutions for students and scholars studying outside their home country. In 2008, with healthcare reform on the horizon and uncertainty in the student market, Trawick diversified the Company's portfolio by adding travel insurance to its offerings. By 2010, travel insurance became the Company's core offering. Today, Trawick International continues to offer student insurance and a suite of domestic and international travel insurance solutions, from travel medical to trip cancellation, cruise to adventure travel insurance.

Trawick further diversified the Company's offerings in 2022 by adding products to support expatriates and educators worldwide, including international group health, life, and disability. Additionally, the Company's global footprint grew with expanded Latin America and UK divisions and Global Accident, Health & Life Reinsurance services.

When asked about the secret to the company’s success, Daryl Trawick, President and CEO, Trawick International commented, "There are many factors that have contributed to our success, but none more than the people that work here. The employees at Trawick International have deep international insurance experience combined with passion and drive to innovate and excel at what they do. I truly believe they are the reason the Company has grown and succeeded in the way it has."

What started as a one-person business in the bedroom of Trawick's then-home grew to about ten employees based out of a small Alabama office and is now a fully remote, nearly 100-person company with employees across the U.S. and U.K. The Company also has more than 15,000 partners distributing its products.

Trawick added, "Along with the employees, I want to thank our customers and partners. Without them, we could not exist. I am extremely proud of our accomplishments over the last 25 years. The best is yet to come, and I look forward to many more years of growth and innovation."

International Private Medical Insurance Magazine Provider Network Directory February 2023

The February 2023 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.

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.

CLICK HERE TO 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

CLICK HERE TO DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

International Private Medical Insurance Magazine Provider Network Directory January 2023

The January 2023 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.

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.

CLICK HERE TO 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

CLICK HERE TO DOWNLOAD THE IPMI MAGAZINE PROVIDER NETWORK IN PDF FORMAT

 

Introducing Global Healthcare Cost Management Enhancements

New Frontier Group, a cost management leader in global healthcare for over 20 years, announced several product enhancements that solidify their continued commitment to industry transformation.

New Frontier Group has ramped investments and focused product development since 2020 with a future-looking lens on expanded global travel and changing international healthcare needs. Moving into 2023, the company continues to integrate enhancements that strengthen the company’s market position. 

Enhanced solutions being rolled out include digital advancements that expedite accurate payments and new forms of provider reimbursements to expand savings including:

  • Expedited claims payment through auto-adjudication technology
  • Value-based care programs through expanded, integrated provider relations
  • Fully coordinated care with global telehealth services

These solutions have been fully integrated with their existing product suite including:

  • Worldwide cost management specialization
  • White glove global Rx service, distribution, and delivery
  • Tailored worldwide arbitration
  • Personalized patient care coordination

“We pride ourselves in ‘Always There, Global Healthcare’ by continuing to work closely with our provider, pharmacy, assistance company, and insurance partners who are leading the way in the market.” stated Gitte Bach CEO of New Frontier Group. “We are proud to serve industry leaders such as Charles Taylor Assistance, Trawick International, VIRSAG, and Global Benefits Group plus many others. We have built partnerships with leading providers as well such as Aetna, United, First Health and others across the world to best serve this market in the collective. The pandemic did not slow our growth - it fueled our resources to build, build, build and prepare for the future. It is our teams focus on the future and never settling with the status quo that gives us our loyal and long-standing client base.”

“We have a great partnership with New Frontier Group, stated Jody Baker, Chief Executive at Charles Taylor Assistance, one of NFG’s many long-time clients. They always work with us to build a better system to support our continuous growth initiatives. Their service offering helps us bring the best programs to our members. Not only are they a stable force in this market, but they also stay up to date and look ahead with a focus on making the system work better for everyone.”

About New Frontier Group 

New Frontier Group is a global cost management leader.  The company is a woman business enterprise unrivaled for the range of solutions in international healthcare management and unbeatable in their hallmark customer and claim service. They are a front-line outsourcing partner and advocate for clients handling diverse healthcare travel portfolios.

AIG Announces Leadership Changes

American International Group (NYSE: AIG) has announced that it terminated Mark Lyons from his position as AIG’s Interim Chief Financial Officer and Executive Vice President, Global Chief Actuary and Head of Portfolio Management after the Company became aware that he violated his confidentiality/non-disclosure obligations to the Company.

These violations were unrelated to the Company’s financial statements, financial reporting generally and related disclosure controls and procedures, or reserves. In recognition of Mr. Lyons’ contributions to AIG since he joined the Company in 2018, the Company entered into a settlement agreement with Mr. Lyons.

Sabra Purtill has been named AIG’s Interim Chief Financial Officer and Turab Hussain has been named AIG’s Interim Global Chief Actuary.

Ms. Purtill previously served as Chief Investment Officer of Corebridge Financial. Prior to that, she was AIG’s Executive Vice President and Chief Risk Officer and Deputy Chief Financial Officer. Before joining AIG, Ms. Purtill held senior leadership roles in Finance and Investor Relations at The Hartford Financial Services Group, Inc., Assured Guaranty Ltd. and ACE Limited (now Chubb Limited).

Mr. Hussain previously served as AIG’s Chief Risk Officer, General Insurance. Before joining AIG, he was Chief Risk and Actuarial Officer at PartnerRe, Chief Insurance Risk Officer at The Hartford Financial Services Group and also held senior actuarial and underwriting roles at The Hartford, Arch Insurance Group and American Reinsurance.

Healix International Opens Vancouver Office in Response to Growing Demand for Crisis and Security Risk Management Services

Healix International, the global provider of security, travel and medical risk management and assistance services, has announced the opening of its new office in Vancouver, British Colombia. The move comes in response to growing demand for its crisis, security, and risk management services.

Vancouver was chosen as the most strategic, practical, and advantageous location for a new office, as it provides access to clients that are already based there, as well as ease of travel to the U.S. The city’s world-class universities also provide a talent pool for recruitment for Healix’s growing team.

Charlie Butcher, CEO at Healix International, commented “Given the volatility seen in 2022, it’s clear that the services we provide are extremely important to businesses around the world. We already provide support to clients in North America and have teams based in multiple locations across the U.S., but the operational side was always run from the UK, Singapore, South Africa, or New Zealand. Opening the first operational location in the region will mean we can deliver even better services by working with clients more closely on a day-to-day basis. From a business perspective, it also provides a fantastic opportunity to expand further with more services to come later down the line.

“With the opportunity to work with multiple reputable universities and have access to such a wide talent pool, Vancouver was a natural choice and we’re looking forward to seeing the success of the team in 2023.”

Genki Launches Genki World Resident: International Health Insurance for Digital Nomads

Genki, the health and insurtech startup focused on digital nomads, is proud to announce Genki World Resident, an innovative international health insurance plan designed specifically for long-term digital nomads and nomad families.

Genki World Resident is a comprehensive health insurance plan that covers the cost of medically necessary treatment and preventive care around the world. It is available to people of all ages and from any country, regardless of citizenship or residence.

“With Genki World Resident, digital nomads no longer have to choose between traveling the world and taking great care of their health.” said Neville A Mehra, Co-founder of Genki.

Genki World Resident includes health, vision, and dental coverage, as well as cover for prenatal care & childbirth, alternative treatments (such as homeopathy and osteopathy), chiropractic care, physiotherapy, and much more.

World Resident members can receive care at any locally-licensed healthcare provider in any country in the world, with no maximum benefit limit for medical treatment.

In addition, Genki World Resident comes with telemedicine access and a 24/7 emergency assistance hotline, who can arrange direct billing with any hospital.

Substantial Sustainable Savings Requires Managing Treatments Not Claims

Forward

According to the Rx industry, global spending on medicine continues to grow. In 2021, approximately 1.42 trillion U.S. dollars had been spent on medications, up from just 887 billion U.S. dollars in 2010. That number is expected to increase to nearly 1.8 trillion by the year 2026.

The total spend on medications has increased everywhere globally however, the United States takes the lead and is expected to remain the top country for total medication spend through 2026. US industry analysts suggest that $250B of these costs, in the last year, come from medication non-adherence. Claim costs are extremely high and could be much higher if the patient does not take the medication properly. Negative drug interactions cost lots of dollars as well as human lives and no one is monitoring Rx interactions. This article focuses on the collaborations needed to move into the digital age of care that crosses borders.

New Frontier has engaged with US and worldwide Rx industry experts to create a series of 5 Always There Global Rx Care articles highlighting the importance driving innovation into the modern global economy to achieve Whole Person Health through Whole System Health.

About the Authors

All five articles in this series were co-authored by three influential representatives and experts in the global healthcare industry:

Gitte Bach, President and CEO of New Frontier Group. After gaining extensive experience in international insurance and assistance through her initial years at IHI Denmark, Gitte founded New Frontier Group in 2002. Since its inception 20 years ago, New Frontier Group has been a market disruptor and innovator in the global cost management industry, being a pioneer that provides unparalleled cost management, claims administration, pharmacy solutions, telehealth, and assistance services to their clients worldwide. Gitte is passionate about customer service and innovation and holds a B.A. in Economics from Copenhagen Business School and a B.A. in Languages from Aarhus School of Business.

John Frick, Registered Pharmacist and CEO at Innovative Pharmaceutical Services. John is an industry leader for over 35 years in all aspects of pharmaceutical care. He is an accomplished healthcare professional offering comprehensive knowledge of specialty niche markets relative to the pharmacy and home health care professions, long term care, hospice and beyond. John is focused on projects differentiating themselves from the mediocrities of the industry and is the Chairman of the Board for the New Frontier Group Advisory Board where he assists in developing global Rx strategies focused on superior concierge, expert solutions for the global market.

Johan Porto, Cofounder of PharmCare Services. Prior to co-founding PharmCare Services (PCS), the first International Pharmacy Benefit Manager (iPBM) specialized in the international health insurers industry, managed various specialty pharmacy-related businesses for the private sector which developed the experience that has been a key element for the PCS global strategic planning and cost-containment initiatives that drives many aspects of the customer engagement and business development strategies provided to its clients. PCS is the first International Pharmacy Benefit Manager with an extensive national and international network of retail and specialty pharmacies, authorized distributors and manufacturing partners bringing the highest standards in HealthCare and modern customized cost optimization planning to the IPMIs and travel industry.

Key Trends to Sustainable Savings Success

High Value Health is Whole Person Health. Medication adherence is a complex and multi-stakeholder issue with significant financial consequences. To get to a sustainable savings business model, an integrated medical and global Rx program is required. Many organizations are aware of this phenomenon and are seeking solutions that go beyond managing one claim at a time. Organizations managing a sustainable savings model are focused on the whole person.

Global patients require professionals managing their care regardless of where they are in the world, and it doesn’t stop at the border. Global patients need a team of professionals following them, so that no matter where they are, they have access to and knowledge of the medications that their doctor has prescribed. Overall, payers need to know that someone is checking the Rx, monitoring the Rx interactions and looking out for medication fraud.

However, there has been a mentality shift in global organizations to change. The numbers prove the current system is not working and waste is increasing annually. The original approach of focusing only on the lowest possible drug cost, on a claim by claim basis, is now being redesigned and reevaluated.

So how are innovators in the space making changes?

First, innovators are focusing on plan design and connecting with the partner that can assist them in sharing their appropriate data. Instead of just increasing the price of insurance policies, global companies are designing the right strategies so that increased costs in healthcare are bearable. In addition, they’re designing strategies that better the health of the global population and make it easier to receive more individualized services. Outside of COVID-19 coverage modifications, it has been years since there have been any substantial changes in the way policies have been designed. Now, organizations are crunching numbers and finding innovative ways to become the leader of the future without raising prices. The change that each payer needs is different depending on what they are trying to achieve and cover. There is no “one size fits all” plan design, and each individual payer must complete an analysis based on their data. Naturally, it is of the utmost importance to work with the right partner in this quest.

Second, organizations are adding individualized concierge, red carpet, and white glove services for their clients. The cost it takes to do this work behind the scenes is well worth the effort in terms of cost reductions and patient health. Now, organizations are coordinating in detail with patients, providers, payers, and pharmacies via an omnichannel approach (text, talk, email, facetime, telehealth, etc.), and the outcomes are showing tremendous results. In addition, today’s generation is very comfortable with technology and they are expressing new preferences on where and how they seek care. Direct to consumer care can be fully integrated with pharmacies and providers virtually, and can drive down the costs of interactions and customization for patients and payers.

Lastly, global innovators are working with pharmacy programs whose staff are well positioned to spot if global patients are falling through the cracks. These staff members may see prescriptions coming through from multiple providers and may also have more frequent touchpoints with a patient than other providers. For example, patients receiving prescriptions from more than one provider may be prescribed duplicate or conflicting medications. The pharmacy program within an insurance plan and with New Frontier Group as the conduit is in charge of managing the dispensing of the patient’s prescriptions and may be the only touchpoint with full visibility into the patient’s treatments. Overall, these organizations are helping to analyze data and drill down the impacts for the payers. The best way forward is to move to the only sustainable savings solution focused on High Value Health which is created by Whole Person Health. Allow us to help you get there!

About New Frontier Group's Global Pharmacy Program

Choosing New Frontier Group for your pharmacy solutions provides a global pharmacy concierge program with benefits such as:

  1. Exclusive medication management with hands on patient care
  2. Pharmacy solutions combined with medical and telehealth services
  3. Direct engagement with providers to obtain essential medications at time of service
  4. No burden of logistics or financial barriers for patients and no out of pocket costs
  5. Needed medications are shipped to home country and after care is coordinated
  6. White glove, cross border service is focused on medication adherence

New Frontier Group’s pharmacy solutions is an exclusive medication management program that merges hands-on patient care services with concierge medical services that crosses borders.

Our global pharmacy solution includes a review of existing data and the development of a strategy to increase patient medication adherence by removing communication gaps, defragmenting the system, and relieving the burden of logistics and financial barriers. Patients do not have to seek out pharmacy services in a foreign country, because New Frontier Group handles all of the details for them from point of care to travel home. Our superior concierge solution reduces hospital readmissions and ensures there is no out of pocket for members.

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Medical, Travel And Technical Assistance

 

A guide to leading international medical and travel assistance companies and providers, operating within leisure, expatriate and corporate business travel markets globally.

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