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Mexico Rising

Sustainable economic growth of over three percent, an unemployment rate of less than five percent and total debt corresponding to around 40 percent of gross domestic product: Mexico is prospering.

Following Brazil's example, the new government, led by president Enrique Peña Nieto, wants to use the stable growth in order to further strengthen the growing middle class. In the past, the 'clasmedieros' had already begun to expand significantly. Over the past ten years, the middle class has grown by a good nine million people.

Today, around 65 million Mexicans, over half of the total population, belong to the middle class. Around 98 percent of Mexicans now have electricity. The number of people who own a telephone has increased from 36 percent to 43 percent in the last few years; for computers, the figure has increased from 9 percent to 29 percent, and for fridges from 68 percent to 82 percent.

And Mexico has another distinguishing feature: the country of the Aztecs is young. Over half of the population is under 30, and people are becoming increasingly well qualified. The proportion of university graduates is also relatively high for Latin America at 8.4 percent. Almost 50 percent of all 15 to 24 year olds in Mexico now attend a secondary school. Simultaneously, at just under seven percent, the illiteracy rate has almost halved in recent years.

More mobile phones, computers and other consumer goods: with increasing prosperity and regular income, our natural wish to protect our possessions against loss and set money aside for retirement grows too. "This environment can offer Allianz enormous opportunities for growth", Sergio Ghibellini, CEO of Allianz in Mexico, is convinced.

"Due to the country's economic power and a market penetration rate that is still low and thanks to a reliable legal framework, the insurance market in Mexico will experience above-average growth over the next few years, and Allianz will be able to participate in this," continues the CEO.

Since its entry onto the market in 1985, Allianz in Mexico has continuously expanded its range of products for both corporate and retail customers. It now offers a wide selection of property and casualty (P&C), life and health insurance products. With around 600,000 customers at present, Allianz has a sound customer base in the second largest insurance market in Latin America, which is to grow significantly in the coming years as sales channels are strengthened. Allianz insurance products are primarily sold in Mexico by brokers and agents.

In the area of P&C, Allianz Mexico is already among the front runners in the Allianz Group, with a combined ratio of 90.8 percent. In 2012, gross written premiums increased by nine percent to 266.5 million euros. Operating profit in this segment rose significantly by 46 percent, to 19.5 million euros. Mexico is not just young, however. Mexico is getting ever older, too.

Thanks to fundamental improvements in the healthcare sector, the average life expectancy for people there has risen consistently over the past few years, and now comes in at 77. This means that the emerging middle class is also starting to turn more attention to issues like healthcare and retirement provision.

This is also reflected in the figures for Allianz in Mexico. In the past three years alone, gross written premiums in the area of life and health have tripled to their current level of around 150 million euros. Nonetheless, market penetration in this segment still accounts for less than one percent of the gross domestic product.

Sergio Ghibellini: "This shows just what enormous potential for growth there is for us here."

Experts calculate that with predicted economic growth of four percent, consumer spending will increase by 10 to 15 billion US-dollars per year. Part of this money will certainly be allocated to safeguarding this prosperity and to retirement provision.

Sergio Ghibellini: "We are well prepared to meet this demand with suitable products and services."

Mexico's example illustrates once again how important sustainable growth is for the development of a stable middle class, which in return reinforces consumption with its purchasing power and thus ensures continued growth, more jobs, increased prosperity and stable domestic demand. And finally, yet another piece of good news: according to a recent study, Mexican consumers are currently assessing their financial situation more positively than at any other time in the last five years. Solid finances, sustainable growth, an expanding middle class and optimism: Mexico has more to offer than just sun, sand and beaches.

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Round Table: Critical Considerations When Designing Individual Expat Medical Insurance Plans

Critical Considerations When Designing Medical Insurance Plans

Whats important when designing medical insurance plans for overseas assignments, relocation, business and leisure travel? How are insurers viewing the market and is there a shift towards short-term cover, for individual expatriates and travelers

Job Title: C-Level ONLY

Questions:

What factors must one consider when designing health and medical insurance plans for individual expatriates?

Talk us through your under writing capabilities and ideas: (think about Full medical underwriting, Continuing Personal Medical Exclusions (CPME) and Moratorium)

What benefits does full medical underwriting bring?

How do your private medical insurance plans cover pre-existing conditions?

What is the key to success when designing health insurance plans for individual expats?

Can you talk us through your distribution channels and any new trends you have identified?

How does designing a good expatriate health insurance product equal quality driven healthcare anywhere, at any time?

How important is the portability of an individual expatriate insurance plan?

How can insurers add value to expatriate health insurance plans?

Currently, what is your most popular and appropriate plan for an individual expat working on a short-term assignment?

What new plan features and benefits can we expect to see in the next 5 years?

Specifics: iPMIM Executive Round Tables are not open to all and remain invite only. You may apply for a position if you satisfy the following criteria:

  • You are a specialist and recognised underwriter or provider of private medical insurance products;
  • You have an established network of third party service providers including healthcare providers and distribution partners.

PLEASE note that satisfying the criteria and applying will not guarantee a position at the table.

Participants enjoy:

  • Complete inclusion in 4 executive round tables;
  • Full professional executive bio;
  • Company logo;
  • Company bio;
  • Single or double page advertisement;
  • Complete online promotion.

About International Private Medical Insurance Magazine (iPMIM) Round Tables

The aim of iPMIM Round Tables is to facilitate Dialog and Debate at an Industry and Government level. Bringing together International Industry Leaders and Policy Makers, iPMI Magazine Round Tables represent the perfect arena for educational, interactive, cross border, cross culture and cross industry discussion, at the highest level.

 

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Round Table: The Effects of the Maritime Labour Convention on the Global Insurance Industry

The Effects of the Maritime Labour Convention on the Global Insurance Industry

The Maritime Labour Convention (MLC) is an International Labour Organization convention established in 2006 as the Fourth pillar of international maritime law and embodies "all up-to-date standards of existing international maritime labour Conventions and Recommendations, as well as the fundamental principles to be found in other international labour Conventions".

Title 4 of the MLC covers Health Protection, Medical Care, Welfare and Social Security Protection

Medical care on board ship and ashore: Seafarers should be covered for and have access to medical care while on board; in principle at no cost and of a quality comparable to the standards of health care on shore. Countries through which territory a ship is passing should guarantee treatment on shore in serious cases.

Shipowners' liability: Seafarers should be protected from the financial effects of "sickness, injury or death occurring in connection with their employment". This includes at least 16 weeks of payment of wages after start of sickness.

Health and safety protection and accident prevention: A safe and hygienic environment should be provided to seafarers both during working and resting hours and measures should be taken to take reasonable safety measures.

Access to shore-based welfare facilities: Port states should provide "welfare, cultural, recreational and information facilities and services" and to provide easy access to these services. The access to these facilities should be open to all seafarers irrespective of race, sex, religion or political opinion.

Social security: Social security coverage should be available to seafarers (and in case it is customary in the flag state: their relatives).

Job Title: C-Level ONLY

Specifics: iPMIM Executive Round Tables are not open to all and remain invite only.

You may apply for a position if you satisfy the following criteria:

  • You are a specialist and recognised underwriter or provider of private medical insurance products for the maritime industry;
  • You have an established network of third party service providers including healthcare providers and distribution partners.

Participants enjoy:

  • Complete inclusion in 4 executive round tables;
  • Full professional executive bio;
  • Company logo;
  • Company bio;
  • Single or double page advertisement;
  • Complete online promotion.

Click here to see a demo of how the round tables will be published.

Questions:

  • What has the Maritime Labour Convention meant for the insurance industry?
  • What insurance plan do you provide for the maritime and marine industry?
  • What opportunities exist for insurers in the maritime and marine business?
  • What challenges do insurance companies face in the marine and maritime industry?
  • How complex an operation is the repatriation of crew, to suitable medical facilities, in the case of an incident?
  • In the case of a mass casualty disaster, how prepared is the industry to respond?
  • How prepared are payor provider networks for such situations?
  • With an estimated 1.5 million workers, the Maritime Industry crosses cultural, political and physical borders every day.
  • How popular are value added services like Employee Assistance Services, in the maritime and marine industry?
  • What is important when designing maritime and marine insurance plans?
  • How can maritime insurance plans assist in the fight against piracy in the Indian Ocean?
  • How will the maritime and marine industry develop over the next 5 years and what will this mean for insurance companies?

About International Private Medical Insurance Magazine (iPMIM) Round Tables

The aim of iPMIM Round Tables is to facilitate Dialog and Debate at an Industry and Government level. Bringing together International Industry Leaders and Policy Makers, iPMI Magazine Round Tables represent the perfect arena for educational, interactive, cross border, cross culture and cross industry discussion, at the highest level.

To apply for a position please click here.

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Census Bureau Releases Health Insurance Coverage Estimates for All Counties

The Census Bureau has released its 2011 Small Area Health Insurance Estimates (SAHIE). The estimates show the number of people with and without health insurance for all states and each of the nation's roughly 3,140 counties. The statistics are provided by broad age group, sex, race and Hispanic origin, and at income levels that reflect thresholds for state and federal assistance programs. The data can be used to assess annual changes in health insurance coverage from 2008 through 2011.

The release includes a 2011 highlights document that describes demographic and economic differences in health insurance status across states and counties, as well as geographic variation and time trends in health insurance status. The document also includes a number of maps that are available for download from the SAHIE website. SAHIE can be a useful tool when evaluating the impacts of health care policy changes at the state and county levels. SAHIE provides estimates of the uninsured at incomes 0 to 138 percent of the federal poverty threshold. This group may qualify for Medicaid in participating states.

The 0 to 400 percent group provides estimates of the uninsured population that may qualify for the Health Insurance Exchanges or for Medicaid. To make quick evaluations of your state's potential program participants, visit the SAHIE interactive data and mapping tool on the SAHIE website. The tool allows users to create and download state and county custom tables and thematic maps, and state health insurance coverage time trend charts.

The SAHIE program models health insurance coverage by combining survey data with population estimates and administrative records. Specifically, it uses the American Community Survey, demographic population estimates, aggregated federal tax returns, participation records for the Supplemental Nutrition Assistance Program, County Business Patterns, Medicaid and the Children's Health Insurance Program participation records, and the 2010 Census.

At present, SAHIE is the only source of health insurance estimates for all counties. There are no county estimates derived from the Current Population Survey. In September, the Census Bureau will release 2012 health insurance coverage estimates for counties with a population of 65,000 or more from the American Community Survey. The following month, similar estimates will be released for counties with a population of 20,000 or more using data collected from 2010 to 2012.

In December, for the first time, statistics on health insurance coverage for all areas, regardless of size, will be released based on American Community Survey data collected from 2008 to 2012.

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New Report Available: Bahrain Insurance Report Q3 2013

As of mid-2013, it appears that Bahrain's insurance sector is in something of a hiatus. As is the case in the rest of the region, the life segment is dominated by the local subsidiaries of multi-national insurers that are selling products and solutions to expatriates.

Official data points to a (small) fall in life premiums in 2011 and, for most companies, a fall in the numbers of policies. It is difficult to avoid the conclusion that the unrest which began in early 2011 has resulted in a reduction in the numbers of expatriate workers. Data about the development of life insurance through 2012 is fairly scant.

Nevertheless, this challenge is, almost certainly, temporary in nature. If the economy grows and develops as BMI envisages, it is virtually certain that the number (and wealth) of expatriate workers will increase: their demand for innovative savings solutions will grow also.

Indications from the non-life segment are mixed. According to the Central Bank of Bahrain (CBB), which regulates the insurance sector, overall premiums rose. Comments from particular companies, and the well documented problems of key areas of the economy such as the construction sector, suggest that times have been hard for many players in the non-life segment.

As is the case across much of the Middle East and North Africa (MENA) region, the industry is fragmented, lacking in pricing power and (with some exceptions) unable to achieve regional economies of scale. The unrest that began in early 2011 led to an increase in claims. Some companies appear to have suffered from further sharp rises in claims through 2012 as well. For many companies, investment profits have been unimpressive.

Meanwhile, reinsurance remains something of a wildcard for Bahrain. Bahrain is not a major reinsurance centre like Singapore or Bermuda, but it is an unusual market in that the reinsurance premiums that are booked are about 50% larger than the direct insurance premiums written. Arig reported that its reinsurance premiums for the first three quarters of the year were about 7% higher than they had been in 2011.

The company's profitability was hurt by disappointing investment returns and by higher claims, partly due to damages relating to the Arab Spring but mainly because of exposures to the massive natural catastrophes that took place last year. Other major reinsurers writing business in Bahrain include local group Trust International, Hannover Re, Hannover Re Takaful and ACR Retakaful.

If the CBB is able to attract one or two more substantial insurance groups to start operations in Bahrain - or if existing players dramatically increase their volume of business - Bahrain could emerge as an important provider of reinsurance cover to insurance companies that are operating throughout the region.

Get a copy of the report @ http://www.fastmr.com/prod/640212_bahrain_insurance_report_q3_2013.aspx

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Download Cigna Global Health Options Brochure

Download Cigna Global Health Options Brochure

Cigna Global Health Options

Cigna Global provides international health insurance for Expatriates living abroad. Cigna combines years of experience in private medical insurance with an understanding of the service and customer care you need.

Our International Health Plans Explained

With Cigna you can create a health insurance plan that's perfectly tailored for the needs of you and your family by offering you the reassurance of comprehensive core cover, and the flexibility of adding as many extra benefits as you want.

Cigna Global

Our Core Cover:

International Medical Insurance - your essential core cover, for all inpatient, day case surgery and accommodation costs. In addition, essential cover for cancer, maternity and psychiatric care on an inpatient, outpatient day case basis.

Our Optional Benefits:

International Medical Insurance Plus - additional and more extensive outpatient cover that protects you for any treatments that don't require a hospital stay.

International Emergency Evacuation - peace of mind cover for transport and repatriation costs for you and a family member if you need treatment in another country.

International Health and Wellbeing - allows you to manage your health in your own way with cover for screenings, tests, examinations and other wellbeing activities.

International Vision and Dental - complete cover for all your vision and dental costs.

Our experience

Cigna has worked in international medical insurance for more than 30 years.

Today, we have 60 million customer relationships around the world. Looking after them is an international workforce of 30,000 people, plus a network of more than 900,000 hospitals, physicians, clinics and health and wellness specialists.

Our full-time, clinical team is led by physicians. We have years of experience in dealing with varied and unique clinical and service situations worldwide.

Our vast experience means we provide high standards of healthcare, regardless of where you are in the world.

Why Cigna:

Our customers choose us for their international health insurance because only Cigna Global Health Options gives you all the following benefits:

  • Access to our global network of trusted hospitals, clinics and doctors
  • The flexibility to tailor a plan to suit your individual needs
  • The convenience and confidence of Cigna customer care
  • The reassurance of our experience in delivering international healthcare
  • Globally compliant healthcare plans

Company: Cigna Global Health Options

Address: 220 St Vincent Street, Glasgow, Scotland, G2 5SG

Phone: +44 (0) 1475 492119

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

Web: www.cignaglobal.com

 

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Download GeoBlue Xplorer Brochure

Download GeoBlue Xplorer Brochure

GeoBlue is a leader and innovator serving the needs of world travelers. GeoBlue Expat® and GeoBlue Traveler® group health plans combine unsurpassed service and mobile technology to help you access trusted doctors and hospitals all around the globe. GeoBlue offers expatriate and traveler products in cooperation with participating Blue Cross Blue Shield companies. Select a state below to view a list of Blue companies and learn more about the expatriate and traveler product offerings.

Company: GeoBlue

Address: One Radnor Corporate Center Suite 100 Radnor, PA 19087 USA

Phone: +1 610 254 5300

Fax: +1 610 482 9953

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

Web: https://www.geo-blue.com

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Integra Global Family Health Plans

Integra Global Life Plans

Health plans from Integra Global allow your staff complete freedom of choice for doctors, specialists and hospital providers, worldwide. Let international medical insurance cover your staff while they are temporarily back in the U.S. and Canada. Our network of hospitals and doctors serves as a passport to the largest health network in North America. For our international health insurance customers, our global support service means that your staff can rely on the best care, worldwide: when the need it, where they need it, in some of the world's leading centers of medical excellence. While your staff members are assigned abroad, you don't want to worry about what their international health insurance policies cover.

Instead you need a comprehensive cover that takes care of the big things as well as the small. Medical evacuation, travel assistance or claims translations, not features you would normally find in a straightforward domestic plan but all essential in an expatriate medical insurance for your international based staff. And we have the comprehensive cover that you would expect from a quality health plan such as chronic conditions cover, hospitalization, prescription drugs, out-patient, wellness benefits, and physician office visits to name just a few. Integra Global utilizes the UnitedHealthcare Network.

Plan 1 members have access to 5,200 hospitals and 650,000 health care professionals through the UnitedHealthcare Network. All treatment in the U.S. must be pre-certified. Make sure your provider pre-certifies your medical treatment. Utilizing the UnitedHealthcare network simplifies your pre-certification process and claims filing.

Company: Integra Global

Phone U.K: 0808 101 3483 (toll-free)

Germany: 06221 825 650

North America: 1 888 753 1377 (toll-free)

Worldwide: +1 888 753 1377

Fax International: +1 800 774 3608 (toll-free)

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

Website: www.integraglobal.com

 

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New Prima Healthcare Plan Guide Launched by ALC Health

New Prima Healthcare Plan Guide Launched by ALC Health

Download the Brand New Prima Healthcare Plan guide launched by ALC Health recently. 

For over 10 years, ALC Health has been looking after and protecting the health of individuals, their families and international companies from across the world with a range of flexible and innovative international health insurance plans that reflect the lifestyle of today's expatriate international traveller and global citizen. With many of our advisors having been expatriates themselves, we really do understand what it's like to be living far away from home or in a country where healthcare treatment may not always be readily accessible.

à la carte healthcare (ALC Health) is an award winning international medical insurer who for over 10 years has been protecting the health of private clients, companies and organisations across the globe. The company continues to grow and develop on a philosophy of ensuring that every policyholder whether as a private individual or a member of a corporate group is assured of the highest level of personal service and support.

It is this experience that has enabled ALC Health to stand out as an international medical insurer that is able to bring together a range of quality products supported by the highest level of service, at a very personal level and has long been seen as a preferred choice of international expatriates looking for a more personalised and caring approach to their healthcare needs.

Click here to read more about ALC Health in the iPMI Magazine Medical and Health Insurance Company Guide and Directory.

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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