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Insurers Place An Increasing Emphasis On Creating Long-Term Bancassurance Partnerships

Insurance companies that want to expand internationally face substantial distribution challenges: how do they establish their brand and how do they reach new customers? One way for them to try to solve these problems is through creating sales partnerships with leading banks, which gives them access to a new customer base using the bank's own brand. According to new research about global bancassurance strategies published by Finaccord, BNP Paribas Cardif is the insurance group holding the most bancassurance partnerships among the world's 500 largest retail banking groups, followed by AXA and MetLife.

Based on an investigation into the consumer banking operations of the top 500 retail banking groups worldwide (spanning over 100 countries), Finaccord's research established that BNP Paribas Cardif was being utilised as an insurance partner for at least one bancassurance product by a total of 81 of the 500 banking groups. The France-based insurance group was followed by AXA with a total of 78 partnerships, and MetLife with a total of 75 agreements. Overall, among the 20 most prominent insurance groups in terms of their number of relationships with the top 500 banking groups, ten originated from Europe, five from North America and five from the Asia-Pacific region.

"Competition among international insurance groups for bancassurance partnerships has been intense in recent years", comments Stefan Wagner, a Consultant at Finaccord. "This is a consequence of the high or rising importance of bancassurance as a distribution channel in a number of insurance markets including China, Indonesia and Thailand in the Asia-Pacific region, Poland and Spain in Europe, and Brazil and Mexico in Latin America. In addition, many banks have expanded substantially their offering not only into new product areas but also into alternative sales channels, including digital distribution, which has created more partnership opportunities for insurers."

Finaccord's research also classified insurance groups' partnerships with the 500 banking groups according to whether they were set up either as joint ventures, as strategic, long-term relationships, or as less substantial, ad hoc distribution partnerships. With regards to joint ventures and strategic agreements among the 500 banking groups, AXA is the insurance group with the most such arrangements at 15 (breaking down between eight joint ventures and seven strategic relationships). It is followed by BNP Paribas Cardif with ten, Allianz with nine, Aviva and MAPFRE with eight each, and MetLife with seven.

"While the total number of partnerships is certainly a helpful measure to identify key insurance groups in the global bancassurance market, it is also important to look at joint venture and strategic partnerships as these commonly have a long-term focus and often generate substantially more revenue than looser distribution agreements", concludes Stefan Wagner. "As such, international insurance groups are increasingly seeking these types of deal. For example, major agreements established during 2017 included those of Allianz with Standard Chartered and of Chubb with DBS, both for non-life insurance and spanning multiple countries in the Asia-Pacific region."

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Skyservice Air Ambulance joins International Assistance Group as Preferred Provider

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

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China Health Insurance Market Opens Up

Beijing encouraging foreign private investment to relieve stressed-out healthcare sector. Foreign investors may wholly own hospitals in seven cities and provinces, opening up the country's fast-growing private hospital sector.

At a recent meeting of China's cabinet, the State Council set out plans to build new medical facilities and elderly care homes supported by investment from international private medical insurance firms. Under the plans, investors will be allowed to own 100% of facilities in seven provinces and cities.

China's population, nearing 1.4 billion, are around 90% covered by state health care, however cover is limited and often medical fees are paid out-of-pocket. There is also a large difference between the quality of health care provided in rural and urban hospitals. This is blamed on a lack of funding and administrative corruption, mostly affecting the poorest people.

In June, Deutsche Bank calculated there were 11,300 private hospitals in China in 2013, a massive increase from 3,200 in 2005. Commercial insurance premiums grew 30% compared to the state sector growing 18%. According to a McKinsey report, the country's health care spending is forecast to reach around $1trn by 2020 from $357bn in 2011. According to Reuters this may lead to a rapid increase and flow of investment from international private insurers and hospital operators.

Over the years Beijing has slowly opened the doors to overseas investment, allowing foreign investors to own 70% in past hospital joint ventures. Under the new rules, China, Hong Kong, Macau and Taiwan, will all permit foreign investors to own 100% of hospitals.

Currently PICC Health Insurance, Kunlun Health Insurance, Hexie Health and Ping An Insurance Group Co of China Ltd are the largest private health insurers China.

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Now Health Launches New Intermediaries Online Web Service

Now Health International, the international health insurance provider today announces their new Intermediaries Online web service – a fast and secure way for intermediaries to get quotes and buy online on behalf of customers.

In addition to providing immediate access to agents’ quotes online, Intermediaries Online also provides each agent with their own dedicated URL they can use to generate commission remotely. Now Health has also created an easy to follow online user guide that shows agents how to use Intermediaries Online.

In addition to the demo video, there are a number of tools to help agents use Intermediaries Online:

  • Display advertising to use on websites
  • Co-branded emails to generate commission from an existing customer base
  • Presentation material

Alison Massey Marketing and Ecommerce Director commented, “We hope our agents will find this new and exciting service a huge step forward in speeding up the quote and sale process for their clients.”

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Allianz Worldwide Care Launches NGO Healthcare Plans

Allianz Worldwide Care has developed a range of international health insurance products designed specifically for Non-Governmental Organisations (NGO’s). The SANO NGO healthcare plans will be sold exclusively by SANO Concept International and its French partner SANO Care. This new product range has a solution for every NGO, even if they employ different categories of staff (e.g. expats, third country nationals, local staff) or whether their staff are on long term or short term assignments. Whatever their employee categories, nationalities, location or duration of employment, NGOs will have the convenience and simplicity of dealing with a single health insurer.

The SANO NGO plans are available on a Medical History Disregarded (MHD) basis and will cover employees as well as their dependants. There are five plans to choose from and these can include cover for in-patient treatment, out-patient treatment, dental treatment and either evacuation or repatriation.

There is also a choice of geographical region of cover, providing NGO’s with a truly flexible solution from which they can select the cover most suitable for them. Two of the plans can also be used as a ‘top-up’ to the CFE (French social security for expatriates), providing French expats with the reassurance of knowing that their social security cover remains uninterrupted, with no waiting period on their return home.

Hendrik Boelens, Regional General Manager at Allianz Worldwide Care commented: “We believe that the SANO NGO product range will be welcomed by Non-Governmental Organisations, most of whom would otherwise have to use a number of providers and go through multiple layers of administration. This new range, distributed by SANO Concept International and SANO Care, will offer NGO’s a ‘one-stop-shop’ for all their health insurance needs. Plus, plans are backed up by Allianz Worldwide Care’s consistently high level of client service and support, thus helping NGO’s to attract and retain key staff”.

Sébastien Menand, Managing Director of Sano Concept International added “The SANO NGO product range is one of the first developed exclusively for the NGO sector. We recognise the fact that the profile of NGO employees is changing, with an increasing number of local employees and third country nationals (TCNs) being hired. This is why these plans have been designed for NGOs who may employ local employees and/or third country nationals, as well those who employee expats, which would be the more traditional approach. The ability to be able to provide healthcare cover for all categories of employees is essential to meeting the needs of today’s NGOs.”

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Allianz Worldwide Care Announces Healthcare Plan Enhancements Following Annual Product Review

Following its annual product review, Allianz Worldwide Care announces enhancements to its individual healthcare plans as well as new online support tools for maintaining health and wellness. The company has introduced a range of deductibles for its Core Plans (which primarily cover in-patient treatment) for individuals, offering clients an even greater level of flexibility and choice when it comes to selecting the combination of healthcare plans and options that best suits their needs. Selecting one of these new deductibles, which range from €450 to €10,000, will reduce the member’s Core Plan premium, with the highest deductible option corresponding to a premium discount of up to 60%.

A number of new health and wellness resources have also been added to the members’ area of the Allianz Worldwide Care website www.allianzworldwidecare.com, providing information and tools to support members in terms of managing their health. The new resources now available in the Health and Wellbeing section include access to health risk assessments, stress and weight management advice, assistance on giving up smoking, advice about sleeping well as well as tips on fitness and nutrition.

The company’s annual product review includes an analysis of healthcare premiums, and in line with the company’s commitment to maintaining affordable premiums, Allianz Worldwide Care has increased its premium base rates by an average of only 5% for the majority of its group and individual international healthcare plans. This is significantly below the industry average and can be attributed to the company’s well established cost containment practices.

Susan Landers, Head of Marketing and Client Management commented: “Listening to feedback from our clients and understanding their needs is a critical part of the product review process. People want healthcare plans which can be tailored to their specific requirements. We also understand the importance of ensuring that our health insurance remains affordable. Our ability to proactively monitor and manage the cost of medical treatment and associated services is what enables us to offer competitive premiums combined with a high level of service.”

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You Are Global

You Are Global Overseas Health Insurance

 

You Are Global is a leading international health, expat, life and travel insurance broker and intermediary, based in Brazil. You Are Global works with leading private medical insurance providers and companies like IMG, Cigna, HCC, Now Health International and Allianz Worldwide Care. You Are Global caters specifically for expatriates, travelers and tourists, working, living and visiting Brazil. You Are Global has specific expertise working with Spanish speaking cultures around the world whilst also proving international health, medical, travel, expat and life insurance plan to the out bound travel market in Brazil.

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You Are Global

You Are Global Overseas Health Insurance

You Are Global is a leading international health, expat, life and travel insurance broker and intermediary, based in Brazil. You Are Global works with leading private medical insurance providers and companies like IMG, Cigna, HCC, Now Health International and Allianz Worldwide Care. You Are Global caters specifically for expatriates, travelers and tourists, working, living and visiting Brazil. You Are Global has specific expertise working with Spanish speaking cultures around the world whilst also proving international health, medical, travel, expat and life insurance plan to the out bound travel market in Brazil.

How can we help?

If you are an international citizen and need a medical coverage which knows no boundaries, you are in the right place. We understand the world has evolved and business and study programs are not limited to the place we live. And this also happens to international travel opportunities: nowadays, travel abroad is easy due to globalization. In the other hand, we know that having a comprehensive, continuous and worldwide medical coverage is mandatory to an international citizen. Therefore, from now on you can access all solutions ValenteRocha provides throughout “You are global – SeguroSaúdeemViagens” program.

You can have a global support, with online assistance, quoting and contracting your international medical coverage with adjustable options as you have never seen. Now you have access to the most comprehensive medical coverage plan available in the American Health Insurance Style. *You are Global – Seguro Saúde em Viagem”isValenteRochaproperty for international medical coverage plans.

Safe On-line Shopping

The whole process of your international medical coverage shopping can be on-line, throughout the internet. In this channel, you can have the quotation you need, revise the offered coverages, fulfill your personal data and send, directly to the enterprise, your international medical coverage request. We know that, due to the nature of our solutions, some personal information is confidential. Then, the entire information submitting process is confidential and all personal information is sent directly to underwriting department which is under a severe clause of confidentiality regarding our clients` information. All this provides you peace of mind. All the shopping system is secured by a safe site and digital certificate, which ensures the online shopping. In other words, we are ready for you to have what is the top of the best medical coverage available, aligned with an customer service and underwriting processes with are modern, safe and dynamic.

Company: You Are Global

Address: R.Lima Barreto, 442, Curitba, Brazil

Phone: +55 41 3527 2680

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Web: www.youareglobal.com

 

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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