Menu
iPMI Magazine Is Proudly Sponsored By:
For a healthier journey.

iPMI Magazine Has Moved

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

SMEs’ Concerns Over Cybercrime Have Doubled

Small and medium-sized enterprises (SMEs) around the world are making greater use of the internet and are therefore becoming more exposed to potential cyber risks threats. Zurich’s survey reveals: SMEs’ greatest fear is loss of customer data and damage to their reputation resulting from a cyber-attack. However, many still believe they are too small to be at risk.

The survey, which polled 3000 C-suite executives and managers at SMEs across 15 countries in EMEA, the Americas and Asia-Pacific, revealed that in 2015 SMEs’ concern over cybercrime has doubled to eight percent from four percent in 2013. SMEs in Malaysia (which ranked the risk as fifth), Turkey (ranked sixth) and the U.S. (ranked sixth), are most worried about cyber-attacks.

From a list of nine potential threats resulting from cybercrime, SMEs globally rate theft of customer data as the most critical risk of cybercrime (28 percent), while damage to reputation following a cyber-attack ranked second (16 percent).

One in six (17 percent) SMEs still consider themselves to be too insignificant to attract the attention of cyber criminals. Zurich does not share this view since hackers are not only looking at the size of the potential gain, but also at the ease of committing the crime.

Lori Bailey, Global Head of Special Lines at Zurich commented: “The results of this year’s SME survey, as well as the Advisen Cyber Survey findings reveal that demand for cyber insurance is growing significantly around the globe. However, there is still a misconception among some SMEs that they will not be affected by this pervasive issue. We at Zurich are continuing to invest in identifying risks and delivering solutions to meet the expectations of our customers, irrespective of the size of their business.”

SMEs in many parts of the world see new sales channels (e.g., online trading) as one of the key opportunities for growth (top two in Austria, top three in the U.S. and Turkey, top four in Portugal and UAE, top five in Brazil and Hong Kong), but surprisingly they are not worried about technological vulnerabilities and cybercrime.

Other findings of the survey are as follows:

  • The global survey once again revealed significant regional differences, with SMEs in Europe (11 percent) and the U.S. (10 percent) far less worried about the potential impact on their reputation compared to those in APAC (31 percent), LatAm (19 percent) and MEA (18 percent).
  • Business disruption following a cyberattack is of particularly high concern in Europe (ranked second) compared to LatAm (ranked 10th) and globally (ranked 5th).
  • The number of SMEs that claim they have cyber protection in place is twice as high in LatAm (12 percent) and APAC (10 percent) compared to MEA and the U.S. (five percent in each).
  • Theft of money/savings has made it into the top three of the biggest cyber risks in Turkey, Austria and the U.S.

Zurich recently published the results of its fifth annual Advisen Cyber Survey of U.S.-based risk managers, which revealed a growing interest in increased limits and security breach response plans and showed that greater attention is being paid to emerging risks from new technologies.

According to the survey’s results, the overall upward trend of organizations purchasing cyber liability insurance has accelerated in 2015, up nine percentage points over 2014. Since the first survey in 2011, there has been a 26 percentage point increase in the number of business respondents with cyber liability coverage.

Read more...

Huge Progress Expanding Social Health Insurance In Vietnam - Challenge Remains Reaching Universal Coverage

Vietnam has made great strides in expanding social health insurance, now covering more than half of its population, but reforms, such as providing premium subsidies, greater family enrollment and introducing catastrophic cost coverage can help the country reach universal coverage, according to a new report from the World Bank.

“Vietnam has made significant progress toward achieving universal coverage for its population, and the government has made ambitious plans toward reaching that goal.” said Victoria Kwakwa, the World Bank Country Director for Vietnam. “This study shows us how Vietnam can speed up this process in order to ensure a healthy Vietnamese population while reducing the health financial burden on the poor.”

The report, Moving Toward Universal Health Coverage of Social Health Insurance in Vietnam: Assessment and Options, offers a comprehensive assessment of Vietnam’s implementation of its social health insurance program, as well as recommendations on key reforms that the country can undertake to achieve universal coverage. During its preparation stage, it already contributed to the dialogue on the revision of Vietnam’s Health Insurance Law.

Propelled by higher government spending in health care, the insurance program, which was piloted in 1989, has greatly boosted the number of people with health coverage. In 2010, nearly 60 percent of Vietnamese had health insurance, up from 10 percent in the early 1990s. The Master Plan for Universal Coverage, which was approved in 2012 by the Prime Minister, aims to expand coverage even further, to at least 70 percent of the population by 2015 and 80 percent by 2020.

It also sets the goal of reducing patients’ out-of-pocket costs to less than 40 percent of total health care spending by 2015. But challenges remain. Despite large increases in subsidies for the near-poor, low enrollment rates persist, even among those in the formal sector, where enrollment is mandatory. Meanwhile, out-of-pocket costs still made up nearly 60 percent of health care costs in 2010, leaving households vulnerable to financial shocks.

To reach the goals set out in the Master Plan, the report recommends reforms in several areas:

  • Further increasing coverage through premium subsidies, greater family enrollment and enforcement of enrollment compliance.
  • Improving equity and financial protection by cutting down on extra charges outside of policy and introducing catastrophic cost coverage
  • Strengthening health financing arrangements by ensuring money is spent more effectively and efficiently on drugs, providers etc.
  • Strengthening accountability by strengthening the organization, management and governance of social health insurance.
Read more...

AXA PPP Healthcare Introduces Online Glossary To Help Patients Better Understand Common Medical Terms

Good doctor-patient relations depend on good communication and, whilst most patients (62 per cent) say that they understand what their GPs are telling them, nearly a third (31 per cent) find otherwise, leaving most of this group (73 per cent) feeling confused, anxious or uneasy.

Patients come to GP appointments with varying levels of knowledge and experience of medical matters and it can be difficult for GPs to gauge whether their patients are taking in what they’re saying. It’s therefore reassuring that, according to the findings of an AXA PPP healthcare poll of 2000 patients who have seen their GP in the last 12 months,* more often than not GPs are getting it right.

To get a better feel for patients’ knowledge of some commonly used medical terms, AXA PPP asked survey respondents to answer eight multiple choice questions:

CT scan – 4 out of 10 know the correct meaning

Whilst 43 per cent correctly identified CT as the abbreviation for computerised tomography, nearly a third (32 per cent) thought it meant cranial thermal scan and 11 per cent said it meant computerised torso scan.

Ganglion – 5 out of 10 know the correct meaning

Whilst 45 per cent correctly identified it as a harmless cyst, 25 per cent thought it was a skin tag or hanging nodule and 6 per cent thought it was a cancerous swelling.

Somnambulism – 5 out of 10 know the correct meaning

Whilst 51 per cent correctly identified the commonly used meaning (sleepwalking), 33 per cent didn’t know and 12 per cent thought it was an ear infection.

Hypertension – 6 out of 10 know the correct meaning

Whilst 59 per cent correctly identified it as high blood pressure, over a quarter (27 per cent) thought it meant anxiety or stress and 6 per cent plumped for hyperactive disorder.

MRI scan – 7 out of 10 know the correct meaning

Whilst 65 per cent correctly identified it as magnetic resonance imaging, nearly a fifth (17 per cent) thought MRI stood for multiple radiation investigation and 9 per cent went for mass radiation inventory.

Fracture – 8 out of 10 know the correct meaning

Whilst over three quarters (77 per cent) correctly identified a fracture as a broken bone, 13 per cent thought it meant a sprained bone and 5 per cent thought it was a torn muscle.

Benign – 8 out of 10 know the correct meaning

Whilst most (79 per cent) identified the best meaning of benign as not harmful in effect, 7 per cent thought it meant a terminal illness and a further 5 per cent thought it meant life limiting or disabling.

Haemorrhage – 8 out of 10 know the correct meaning

Whilst 81 per cent knew that a haemorrhage was an escape of blood from a ruptured blood vessel, 8 per cent thought it was another word for piles and 5 per cent confused it with a hernia, thinking it was a protrusion through the abdominal wall.

Older patients consistently outperformed their younger counterparts in correctly identifying these medical terms, which may be attributable to their having had more opportunities to hear of and/or experience them. For instance, 52 per cent of 18 to 24 year olds correctly identified hypertension as high blood pressure, compared with 69 per cent of those aged 55+.

Sixty-three per cent of 18 to 24 year olds knew a fracture was a broken bone, compared with 91 per cent of those aged 55+. And, regarding benign, 65 per cent of 18 to 24 year olds thought it meant not harmful in effect, compared with 92 per cent of those aged 55+. Ten per cent of 18 to 24 year olds even identified benign as meaning terminal, compared with 4 per cent of those aged 55+.

Women generally outperformed men in correctly identifying the medical terms. For instance, 85 per cent of women identified haemorrhage as an escape of blood from a ruptured blood vessel, compared with 77 per cent of men. For hypertension the figures were 67 per cent and 49 per cent, respectively, and for benign they were 82 per cent and 75 per cent.

AXA PPP’s chief medical officer Dr Gary Bolger noted, “Whilst, generally speaking, most people seemed to know the meaning of these medical terms, a surprisingly large proportion did not. Good communication is a two-way process so it is important for GPs to remember that a sizeable minority of their patients may not have sufficient knowledge or understanding to take in what they’re saying.”

Although most patients (74 per cent) did ask their GPs to explain what they meant when they hadn’t understood something, nearly a quarter did not: 11 per cent said nothing because of embarrassment, with 10 per cent doing likewise because they didn’t want to waste their doctor’s time. Three per cent gave up altogether and went to see another doctor. “Whilst some patients can find it intimidating to question their GP when they don’t understand what they’ve said, patients should remember that their doctor is there to help them and they shouldn’t be afraid or embarrassed to ask their doctor to explain what they mean,” Dr Bolger added.

Pressure of time can also be an issue for some patients, as a fifth (21 per cent) of those surveyed felt their GP didn’t take enough time to explain things to them in terms they can understand, with over half of this group attributing this to lack of time, which may be unsurprising given an average appointment time of 8 to 10 minutes.** To help patients to better understand some commonly used medical terms, AXA PPP has introduced an online glossary. For more information visit www.axappphealthcare.co.uk/doctorsorders.

*The survey, undertaken by OnePoll in May 2014, comprised 2000 adults who had been to a GP appointment in the last 12 months.

**Make the most of your appointment, NHS Choices: Doctors spend an average of eight-10 minutes with each patient. Once you've got an appointment, plan ahead to make sure that you cover everything you want to discuss. http://www.nhs.uk/choiceintheNHS/Yourchoices/GPchoice/Pages/GPappointments.aspx

Read more...

Health Insurance Industry News

Health Insurance Industry News

If you are searching the internet for Health Insurance Industry News, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date Health Insurance Industry News, Health Insurance Industry News articles, Health Insurance Industry News case studies, Health Insurance Industry News interviews and industry content. International Private Medical Insurance Magazine has been delivering Health Insurance Industry News since 2009 and is the leading voice of the Health care Insurance Industry.

Read more...

US News Health Insurance

US News Health Insurance

If you are searching the internet for US News Health Insurance, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date US News Health Insurance, US News Health Insurance articles, US News Health Insurance case studies, US News Health Insurance interviews and industry content. International Private Medical Insurance Magazine has been delivering US News Health Insurance since 2009 and is the leading voice of the US Health care Insurance Industry.

Read more...

Healthcare Industry News UK

Healthcare Industry News UK

If you are searching the internet for Healthcare Industry News UK, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date Healthcare Industry News UK, Healthcare Industry News UK articles, Healthcare Industry News UK case studies, Healthcare Industry News UK interviews and industry content. International Private Medical Insurance Magazine has been delivering Private Healthcare News since 2009 and is the leading voice of the Private Healthcare Industry.

Read more...

Private Healthcare News

Private Healthcare News

If you are searching the internet for Private Healthcare News, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date Private Healthcare News, Private Healthcare News articles, Private Healthcare News case studies, Private Healthcare News interviews and industry content. International Private Medical Insurance Magazine has been delivering Private Healthcare News since 2009 and is the leading voice of the Private Healthcare Industry.

Read more...

Medical Insurance News

Medical Insurance News

If you are searching the internet for Medical Insurance News, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date Private Medical Insurance News, articles, case studies, interviews and industry content. International Private Medical Insurance Magazine has been delivering Medical Insurance News since 2009 and is the leading voice of the Private Medical Insurance Industry.

Read more...

Private Medical Insurance News

Private Medical Insurance News

If you are searching the internet for Private Medical Insurance News, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date Private Medical Insurance News, articles, case studies, interviews and industry content. International Private Medical Insurance Magazine has been delivering Private Medical Insurance News since 2009 and is the leading voice of the Private Medical Insurance Industry.

Read more...

UK Insurance News Articles

UK Insurance News Articles

If you are searching the internet for UK Insurance News Articles, International Private Medical Insurance Magazine has you covered.

Get the latest most up-to-date health insurance news, insurance articles, insurance case studies, interviews and insurance industry content. International Private Medical Insurance Magazine has been delivering UK Insurance News Articles media since 2009 and is the leading voice of the Insurance Industry.

Read more...
Subscribe to this RSS feed

Expatriate Health Insurance

Compare Expatriate Health and Medical Insurance Plans, Coverage, Quotes and Companies, with iPMI Magazine. iPMIM represents leading providers of expat medical, health and travel insurance plans. Find the right and most appropriate Expatriate Health Insurance for overseas travel, global mobility and relocation