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$190 Trillion: Cost Of Insuring The World’s Population

The cost of insuring the world's population has been calculated at approximately $190 trillion, or roughly 2.5 times world GDP,1 according to Willis Towers Watson. The calculation, run on the Microsoft Azure cloud platform, involved an analysis of the insurance cost of providing each of the world's 7.3 billion people with a $100,000 whole life insurance policy and took under two hours.

"This was a fascinating exercise to test cloud computing and software technology to the limit and push the calculation boundaries for insurers," said Stephen Hollands, software-as-a-service and vGrid global product lead, Willis Towers Watson. "It demonstrates how industrialized risk modeling has become and how much processing power, speed and accuracy insurers have at their fingertips to price their products and manage risk and capital."

Willis Towers Watson, using Microsoft Azure Batch cloud service, ran the specialized insurance calculation with over 100,000 processing cores in approximately 90 minutes. According to the company, the calculation would have taken 19 years on a stand-alone computer with a single core. The entire exercise — including a one-off setup and configuration of the customized grid and model, in addition to running the model several times — took less than 24 hours and used data centers around the world, including Australia, Brazil, Europe, India, and Japan.

"What question is bigger for a life insurance company than figuring out the cost of insuring the entire world's population? Answering this complex question, in less than 24 hours, is a genuine technological triumph," said Jonathan Silverman, insurance industry solutions director at Microsoft Corp. "In addition, the use of just a single programming interface on Microsoft Azure to do it, regardless of the number of cores involved, shows how easy it has become to achieve a level of scalability that was until now possible only through complex coding and intense management input."

The calculation used RiskAgility FM, Willis Towers Watson's latest financial modeling tool, which is designed to run complex financial models and hyperscale-sized jobs for life insurers. It also used the company's new vGrid product, an infrastructure-as-a-service software tool that allows life insurers to run their models via an on-demand, cloud-based technology grid.

1.   With a standard deviation of roughly 15% of world GDP

 

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Travel Advice Ghana

Around 70,000 British nationals visit Ghana every year. While most visits are trouble-free, violent crime can occur at any time. Be particularly vigilant in public areas, and take care when travelling by road. Localised outbreaks of civil unrest can occur at short notice in the north of Ghana. There is an underlying threat from terrorism. Take out comprehensive travel and medical insurance before travelling.

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Travel Advice Zimbabwe

Zimbabwe held elections on 31 July and President Mugabe was inaugurated as President on 22 August. In the aftermath of the elections you should avoid associating with any activity that could be construed as political. You should avoid all demonstrations and rallies. In the past the authorities have used force to suppress demonstrations. Dual British-Zimbabwean nationals who wish to travel to Zimbabwe and return to the United Kingdom must have a valid travel document to re-enter the United Kingdom.

It’s not possible to re-enter the UK using a Zimbabwean Emergency Travel Document. Holiday and business visas are available at the port of entry. Don’t violate the terms of your visa.

Although the economic outlook in Zimbabwe improved under the Government of National Unity, the approach of the new government has yet to be set out, and political tensions remain. Although the economic outlook in Zimbabwe has improved, political tensions remain.

If you’re living in Zimbabwe, keep your security arrangements under close review, make sure your travel documents are up to date and readily available and have a contingency plan in place in case you need to leave at short notice.

Take out comprehensive travel and medical insurance before you travel.

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Travel Advice Dominican Republic

The hurricane season in the Dominican Republic runs from June to November. You should monitor weather updates and track the progress of approaching storms. 98,300 British nationals visited the Dominican Republic in 2012. Most visits are trouble-free, but there are incidents of crime and violence. Don’t become involved with illegal drugs of any kind. There are severe penalties for all drug offences. A number of British nationals are serving prison sentences for attempting to traffic drugs. Credit card cloning and fraud are common. It’s generally safer to use cash. See Money. There is a low threat from terrorism in Dominican Republic.

Take out comprehensive travel and medical insurance before you travel.

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Health Care and Insurance Costs in San Diego Rising Faster Than National Average

A comprehensive survey of local employers on trends in employee benefit offerings shows that medical costs have increased an average 7.8 percent in San Diego over the previous year. This compares to an average increase of 6.5 percent nationally. The 2013 San Diego Benefit Survey was recently released by Intercare Insurance Solutions, a Hub International company. Intercare Insurance Solutions, an innovative commercial insurance broker, specializes in employee benefits and wellness, retirement planning, property and casualty, and executive risk management.

“Not surprisingly, we have discovered through group interaction, one-on-one meetings, and this survey that San Diego companies are seeing costs increase partially due to expected changes brought on by the Affordable Care Act,” said Mike Barone, Intercare Insurance Solutions President. “Other factors may be San Diego’s limited geographic boundaries and lack of health care system competition.

The third annual survey, completed by 114 San Diego area employers ranging in size from six employees to 23,000, and representing a wide variety of industries, yields some interesting trends in employer sponsored health care practices:

  • More than half of San Diego employers increased the amount of premium they pass along to employees by up to 25 percent.
  • Employer use of traditional HMO/PPO plans is decreasing, while there is a 30 percent increase in Consumer Driven Health Plans.
  • Cost saving strategies employers are considering in response to the Affordable Care Act include: modifying existing health plans, a move to self- funding, introducing Consumer Driven Health Plans, and increasing employee contributions.
  • Some 74 percent of the more than 100 employer respondents said they currently offer or plan to implement a wellness program within two years. · Wellness programs are gaining momentum as an incentive for employees to maintain a healthy lifestyle, and for employers to manage costs.
  • 46 percent of respondents believe their wellness programs are effective in improving employee health.
  • There’s a continuing shift to outcome-based contributions, with 29 percent of respondents anticipating a move to premium/contribution discounts based on health outcomes within two years.

In addition to the survey, Intercare Insurance Solutions has been hosting meetings with clients and prospects for the past several months to learn about their benefits challenges first-hand, especially in light of changes brought on by the Affordable Care Act. Many local companies report that they are challenged by some of the details surrounding implementation of the Affordable Care Act: specifically, what percentage of their employees are eligible to obtain coverage through Covered California; the requirements surrounding communicating about coverage through Covered California; and what circumstances require businesses to provide affordable health insurance or pay a penalty.

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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