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Welcome To The IPMI Market Research Report Centre

Welcome to the iPMI Magazine online report centre, designed specifically with your businesses educational needs in mind. Here you may browse a range of highly specialist, niche, market research reports covering the hottest topics in the insurance industry today.

AXA – Global Healthcare Appoints Andy O’Cain As Global Head Of Distribution

International healthcare specialist, AXA – Global Healthcare, has announced the appointment of Andy O’Cain as Global Head of Distribution, effective on December 1st 2021.  

Joining from Aetna International, O’Cain will oversee the strategic development of all aspects of global distribution across individual, small business and corporate client segments. He will lead the regional distribution activities delivered from AXA Global Healthcare’s sales hubs in the UK, Europe and Asia, and oversee the development of strategic distribution partnerships, to further strengthen AXA’s growing footprint in the IPMI market.

Andy Edwards, Global Head of International Insurance, AXA Global Healthcare, comments, “We’re excited to welcome Andy to our senior leadership team, and it comes at an opportune time in the evolution of our business. Since separating from AXA PPP Healthcare in 2017, to become an independent Managing General Agent, we’ve developed a strong brand presence in the IPMI market. We’ve enhanced our value proposition, expanded our global reach, and despite some of the challenges the market has experienced over the past few years – from Brexit to the Covid-19 pandemic – kept an uncompromising focus on delivering for the customer. And it’s this unwavering determination to put the customer first that drives our evolution."

“The last 18 months have prompted rapid changes from all of us. Expectations of what makes a good customer experience have changed, people’s trust in digital healthcare services has risen, people’s lifestyle priorities have adapted. We have some exciting developments ahead to meet these emerging needs and ensure our customers can continue to depend on us, wherever they are in the world. With Andy O’Cain joining our senior leadership team, we’re confident in our continued growth in both new and existing customer segments in the global healthcare market.”

With over 20 years’ industry experience, O’Cain has previously held several distribution and senior management roles within the global insurance market. Most recently, he was Distribution Director for Aetna International, where he led the distribution of international health insurance products, prior to which he was Head of Sales and Business Development at Cigna Insurance Services. He has also held a variety of other managerial roles within Allianz and Direct Line Group. From this experience, O’Cain brings excellent knowledge of distribution to individuals, SMEs and corporate businesses in the global market.

Commenting on his new role, O’Cain said, “I’m delighted to be joining the AXA Global Healthcare team and look forward to driving new opportunities for growth in all customer segments. The strength of the proposition and the customer first mindset gives me great confidence in what the future holds.” 

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Will Bupa And DNI Now Compete In Several Countries Where Generali And Generali Employee Benefits Are Both In Business, Or Just The Middle East, Or Just The UAE?

In this article, Ian Youngman, leading insurance analyst and author of the leading iPMI market report, “International Health Insurance 2021" talks about the DNI takeover of the Global Choice international medical insurance portfolio of Generali Global Health.

A few weeks ago Generali and Bupa announced a deal on IPMI.

Generali Employee Benefits (GEB) and Bupa Global announced a strategic partnership to offer “best-in-class” international private medical insurance and global employee benefits solutions to their new and existing corporate customers.

RELATED: Generali Employee Benefits And Bupa Global Announce Strategic Partnership To Offer International Private Medical Insurance

GEB customers will have access to Bupa Global’s quality, expertise, and comprehensive health and wellbeing offering, when and where they need it, across 190+ countries. Bupa Global customers will also have the ability to access global health and benefits solutions provided by GEB’s worldwide network.

What is easy to miss here is that it only refers to corporate business.

So what happens to the individual business of Generali Global Health?

The implication is that Generali Global Health would cease trading and leave the IPMI market.

I expect details to be explained on December 15th, 2021 when Generali will hold a virtual Investor Day to present its new strategic plan.

One part of the future was leaked – but it leaves gaps in knowledge.

Dubai National Insurance & Reinsurance (DNI), one of the leading insurance companies in the UAE, has partnered with Munich Re to take over some of the Global Choice medical portfolio of Generali Global Health.

Munich Re took over the reinsurance of Global Choice in July 2021.

DNI and Munich Re will maintain the existing policy benefits and terms and conditions of Global Choice.

Abdulla Al Nuaimi, CEO of DNI said, "We are delighted to officially announce the takeover of the GGH portfolio in collaboration with Munich Re. This exciting new collaboration affirms our commitment to continuously provide the same level of benefits and enhanced quality services to our clients and existing policyholders. We are dedicated to working with and strengthening our relationship with our partners to ensure seamless integration, giving customers peace of mind that they will not only continue to enjoy the benefits of GGH but take advantage of the combined expertise that DNI and Munich Re have to offer on the international medical front.”

Dr Frank Mayer, CEO, Munich Re comments, "DNI has been a trusted partner, and we are eager to work together and continue to expand our portfolio of services in the coming years. We believe that, together, we are in the best position to cultivate an even stronger and more comprehensive ecosystem that will allow us to serve our customers and partners better."

To ensure seamless operations following the takeover, DNI has continued working with Munich Re subsidiary MedNet as the third-party administrator owing to their familiarity with the scheme. The process will continue under the new partnership with Munich Re. The international network direct billing facilities previously through GGH will now be offered through the MedNet Global Network.

Although MedNet has a global network, DNI is limited to the Gulf and most of that is in the UAE.

Will Bupa and DNI now be competing in several countries where Generali and Generali Employee Benefits are both in business, or just the Middle East or just the UAE?

What will happen to the rest of the Generali Global Health portfolio?

Comment

There is a trend for even leading global insurers to decide to stop competing in PMI and IPMI in selected countries.

There is also a trend for insurers to work in partnership with local groups and TPAs.

Regional groups see gaps.

What is interesting is to look at the plans of Oman Insurance to offer PMI/IPMI in six more countries from 2022 in association with four named and two yet unknown local insurers.

Looking at other recent deals, there is a move for insurers in Africa and The Gulf to offer PMI and IPMI across borders in association with others from the region.

While this may or may not have anything to do with Afghanistan it is very clear that American and European insurers are going to have to compete with strong local rivals.

My tip for 2022 is watch for more country exits by USA and European insurers.

But it is not all one way traffic, with Zurich quietly entering in some countries and the expected IPMI launch from HDI Global - ironically bringing us full circle as they have been recruiting from Generali Global Health.

READ THE LATEST REPORT ON IPMI: International Health Insurance (IPMI) 2021

 

 

 

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DIOT-LSN And SIACI SAINT HONORE Finalize Their Merger And Create A Leading Independent European Insurance Broker

The merger between the DIOT-LSN and SIACI SAINT HONORE groups has been given the green light from the European Union and the regulators and authorities in the various countries where the new Group will be operating.

The birth of the leading independent European insurance broker operating worldwide took place on November 16, 2021. The new group will generate turnover of almost €700 million, with 5,000 employees in 42 countries.

The transaction signed on July 2 between the BURRUS GROUP, headed by Christian Burrus, and SIACI SAINT HONORE, chaired by Pierre Donnersberg, was completed on November 16, paving the way for the creation of a new European leader in insurance brokerage, reinsurance and risk management consulting.

The Burrus Group and the management of the new entity will hold the majority of the capital and voting rights, thus guaranteeing its independence. Alongside them, the presence of leading investors, led by the Canadian pension fund Ontario Teachers' Pension Plan with a 30% stake, Bpifrance with 10%, Cathay Capital with 5% and Mubadala and Ardian, already shareholder in the SIACI SAINT HONORE Group, confirms the international ambitions of the new Group.

Pierre Donnersberg will be Chairman of the new "DIOT-SIACI" group and Christian Burrus will become Vice-Chairman and Managing Director within an Executive Committee of directors from both entities.

By becoming one of the world's top 10 players in large corporate risks, the new group is positioning itself as a key player in this market alongside the global brokers from across the Atlantic. In France, thanks to its national network, it is strengthening its position in the Large Companies, Mid-cap and SME-SMI market in personal insurance, international mobility, property and liability, marine and transport, and credit insurance and reinsurance.

Pierre Donnersberg said: "We are delighted to be able to finalize our corporate venture which now positions us as the French leader in our sector with a clear international strategy. We will seize new growth opportunities and make the most of all our synergies to better serve our clients all around the world”.

Christian Burrus emphasized: "We share an ambition and values that place people and jobs at the heart of this project. We are committed to our independence, guaranteed by a strong family shareholding which safeguards the interests of our employees, our clients and our investors”.

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Expatriate Group Adds Free Upgrades To Corporate iPMI Plans For All New And Existing Policyholders

Expatriate Group commit to upgrade their corporate iPMI policies for all new, and existing policyholders, for free, from New Year’s Day 2022.

They will restructure their group iPMI policy cover following conversations with their corporate and broker partners.
Their feedback clarified the requirement for policies that better suited the needs of businesses seeking to meet the challenges of greater corporate responsibility to their staff and their work environments – both physically and mentally.

From 1st January 2022 all group policies will include, as standard: an Employee Assistance Programme; Business Travel insurance; and Income Replacement cover, integrated into all international healthcare policies.

“From the feedback, it was clear that HR managers want simpler and more cost-effective solutions for managing employee protection” said Amanda Giscos, Head of Business Development.

She also added “COVID-19 often led HR managers to remain with existing providers, even if there were better products on the market, to give employees the feeling of an element of security through consistency. However, with the world easing back to work, the ability to attract and retain staff is vital. Businesses who put employee wellbeing at the heart of their culture and support the transition to the new normal, and beyond, will thrive”.

“We have now reinvented our corporate policies to better meet these needs in a simple, single HR solution” said Lee Gerry, Expatriate Group Director.

“Now, if an employee is travelling on business, they’re covered; if they need immediate access to counselling, they’re covered; if they can no longer work because of their health, they’re covered. These benefits are now core to our comprehensive group iPMI policies.

“What’s more,” Gerry said “following strong underwriting results in 2019 and 2020, the improvement in benefits hasn’t resulted in any change in premium”.

“International HR managers are seeking more from their partners” Gerry continued, “Enabling employee services and risk management to be centralised under a single contract, will streamline administration, and make both time and cost savings.

There’s also the added benefit of claims being handled under the same online platform, which’ll make life easier for the employee too!”

Expatriate Group’s new corporate iPMI policies will be available from 1st January 2022. Existing customers will have the new benefits automatically added to their group policy at renewal.

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International Private Medical Insurance Magazine Provider Network Directory November 2021

The November 2021 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 during a global pandemic.

The international medical 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. 

IPMI Market Network Sectors: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Insurance Technology, Healthcare Insurance Management and Pharmacy Benefits Management.

    Enter full screen click the small rectangle above ↑

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.

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Advertisers 

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

 

 

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Allianz Partners Announce Details Of Enhancements To International Health Plans

Allianz Partners has today announced details of significant enhancements to their international health plans, aimed at enabling members to take a more proactive approach to managing their health and addressing evolving healthcare needs following the Covid-19 pandemic. 

Designed and sold through the company’s international health brand, Allianz Care, these enhanced plans will give customers a more comprehensive and easier to understand cover, with improved ease of access to treatment and services.

From today, customers can access enhanced cancer screening, complemented by a follow-on preventative surgery benefit and comprehensive mental health cover. Inpatient treatment is fully covered up to the annual plan maximum on all plans and waiting periods have been removed. In addition, cover is now extended to include the treatment of behavioural and personality disorders such as autism spectrum and eating disorders, and a counselling service is available for short-term, solution-focused interventions through the Expat Assistance Programme (EAP).

The improved health services package also includes a Telehealth Hub, which is available to all customers with an Outpatient Plan. Which means that depending on location they can avail of video consultations and/or medical advice via telehealth. The Telehealth Hub can be accessed via the MyHealth portal or on the Allianz Care website and video consultations will be available for customers and their dependants. The improved plans also give customers access to the Olive health and wellness support program - which includes the HealthSteps app, as well as access to a Second Medical Opinion. 

Paula Covey, Chief Marketing Officer, Health at Allianz Partners, said, “The world has changed significantly since the outbreak of Covid-19 and the needs of our customers across the world have changed. We recently carried out global research which found that over one third of employees have experienced poor mental health since the pandemic began. The importance of proactively helping people to manage their health and wellness has never been more important.

“Following a global shift to remote working and the current move to a hybrid working model, many people are now more comfortable living their lives online. Our research showed that many appreciate the privacy and convenience of online mental health services, rather than accessing them in-person. It also reduces the risk of contracting Covid-19 during travel and the consultation itself.  We’ve listened to our customers, and as their health partner, we’re delighted to deliver this range of enhancements, helping them to make a positive difference to their quality of life.”

As part of Allianz Partners’ commitment to simplifying products and processes for customers, small changes to the terms and conditions will make it easier for customers to understand the full range of benefits offered. While further automation will mean an improved claims experience and faster response times.

 

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iPMI Magazine Speaks With SIR Zahal Levy, President of MediHelp International

In this exclusive iPMI Magazine interview, Christopher Knight, CEO, iPMI Magazine, met with SIR Zahal Levy, President of MediHelp International. They discuss in detail MediHelp International iPMI plans, developments and markets plus where the iPMI market is heading, and the affect of the COVID-19 pandemic. 

Please introduce yourself and background in the international private medical insurance market:

My name is Zahal Levy and I am the president and founder of MediHelp International. I have a wealth of experience in the medical and in the medical insurance industry, having managed as many as 2,000 employees in companies with turnovers reaching €50 million. I have led these companies through start-up, survival, turnaround and growth modes.

Before assuming my current role in 2007, I was Vice President Business Development for Euromedic (Affidea) International, based in Budapest. I came to Eastern Europe in 1997 to set up a challenging business enterprise, SOS Medical and Ambulance Emergency Services (in Romania). Previous to this, I held various management positions and shareholdings in insurance enterprises in Israel.

As an expatriate living in Central Eastern Europe for 15 years, I understand the specifics of the area and I designed appropriate health insurance packages for both expatriates and locals while at the same time creating a dedicated team to professionally and efficiently meet customer demands.

Who is MediHelp International and what do you provide the international private medical insurance market?

MediHelp International is the leading private health insurance provider in Central Eastern Europe, with offices in Romania, Hungary, Poland and Bulgaria.

We have been present on the health insurance market for more than 15 years and we have a clear mission: to create and develop innovative solutions adapted to the needs of our clients and partners. We have been pioneers in providing comprehensive health insurance plans, along with health care and high-standard customer care services.

We have become a well-recognized company, constantly growing, respected and appreciated by the most important international health insurance companies, as well as by our business partners, employees and customers around the world.

Can you walk us through the range of international private medical insurance plans MediHelp International provides?

Our international private medical insurance plans offer coverage from €500,000 up to €3,000,000 per policy. The MediHelp plans cover, but are not limited to hospitalization, emergency transportation and treatment, outpatient medical services, maternity care, preventive treatment.

MediHelp International health insurance policies cover hospital and treatment costs for severe illnesses such as cancer or chronic diseases and even tissue and organ transplant, which would normally be extremely expensive.

We invite you to discover all the benefits of our plans on our website (www.medihelp-assistance.com).

What are the advantages of MediHelp International IPMI plans?

With international private medical insurance, our customers can choose the clinic and the specialist for their treatment, thus ensuring that all medical procedures are performed so that the diagnosis and treatment are the most appropriate for them.

If our customers choose private health insurance with international coverage, they will benefit from direct settlement for a series of medical services in a network made up of more than 1.4 million of private clinics and hospitals throughout the world.

We have a dedicated Customer Care department and we offer assistance in local languages as well as provide fast reimbursement of medical costs.

Geographically speaking, where does MediHelp International do business?

We have a strong presence in Central and Eastern Europe with offices in Romania, Poland, Hungary and Bulgaria.

We are currently carrying out market research into the possibility of expanding our reach into other countries.

How has the international private medical insurance market changed in the past 15 years?

In the last 15 years the market has changed like this: 15 years ago, we could only insure ex-patriots. They came from abroad, from countries where they knew what health insurance was.  They were used to buying a health insurance policy and making the most of advantages that come with having health insurance, so it wasn’t a strange idea for them. Health insurance for themselves or for their families was a priority. At that time locals did not know what health insurance was or involved. Then those same people, those managers from overseas, started to worry about their senior employees and they asked us to also insure these employees as well. This was the catalyst for the provision of private international health insurance to local residents. Today, senior managers who are nationals within a firm owned by foreigners tend to get medical health insurance included in their salary package in the way many foreign employees have done for decades. The ‘product’ has now become localised and there is far greater take-up from local owners of companies. At the same time, over the years more and more Romanians have travelled further afield and now either work, study or go on holiday abroad. What they saw in many foreign countries was a healthcare system different to the one at home, one which provided services to many who had health insurance. While medical facilities in Romania might not have matched those in other foreign countries, international health insurance gave Romanians access to better, international hospitals. Now, the standard of healthcare for Romania has improved and the demand for proper healthcare has grown, healthcare that still isn’t fully available in Romania. 

COVID-19 has had a dramatic impact on travel and global mobility. How has COVID-19 affected the IPMI market?

I think the effect of the pandemic is waning and international travel is starting up again. Consequently, where before we have had little demand for assistance to seek overseas treatment for medical conditions, that is once again on the increase, even though in an emergency we would have been able to arrange foreign travel for a patient. With a sense of things ‘getting back to normal’, it seems that everyone is beginning to accept that COVID-19 is just something we will all just have to learn to live with. Normal life now means normal healthcare when needed, whether it is treatment abroad or at home.

What are the biggest risks the international private medical insurance market currently faces?

I am afraid that the risks are going to materialize in front of our eyes very soon. The pandemic has dealt a big blow to the international health market, to the local health markets, and the amount of money that was invested in healthcare. The pandemic has actually coloured the black spots of healthcare. Some of them we had known before, while some we found out during the time we were busy with the pandemic. Europe is going to see an exhausted medical system after the pandemic, and the situation will probably be even worse than before, and I think we’ll see a big increase in the price of private health care. And that represents a risk for us because we do not want to sell our products at higher prices than we sell them now, but on the other hand we need to pay claims for services that are being provided by private medical facilities around Europe, and we are subject to their prices and to medical inflation. So it is a huge risk because we still want to make sure that we keep the affordability of our products.

In the next decade, how will the international private medical insurance market develop?

I feel that the idea of the state being the one responsible for an individual’s health in Romania is slowly disappearing. I think everybody understands that if they want to have proper healthcare, they have to have some kind of medical insurance and to assume the responsibility for the health and well being of themselves, their families, and where appropriate, their employees. The way to do this is not to look to the state for the provision of all your medical needs, but nor should you expect your employer to pay for any medical expenses.. So if your boss does not want to pay for your “abonament” or for your health insurance then you don’t have one. I think that is changing though. There are more ways of assuming responsibility and I believe that in the end in Romania the “abonament” will probably be discontinued and will pave its way to private medical insurance. This is a trend that we see everywhere. Medical providers such as Medlife, Sanador or Medicover will probably sell their services for a fee. It means that you will go to a clinic, get your treatment, and you will either pay with our payment card which we are already providing to our customers, or you will be reimbursed for your costs.

Last, but not least, if you could live anywhere in the world, on land, or at sea, where would it be?

This is a very good question which I don’t have an answer to. Sometimes when I am working in my garden, I have these moments when I think that one day, I will buy a small plot of land on a nice small island or by a nice beach in Greece and I could build a nice house where the front is made of glass and looks out over the beach. I could swim and ride my bike as why do I need all these headaches that come with my work? At my age, most people are retiring. But then I say to myself “No”. The time isn’t right yet to travel across the globe in search of a dream location for my retirement home. I am happy for now living in a place called MediHelp. This is where I live. It is a place where I am still developing, creating, working, growing with my wonderful team and this is the place I have chosen to remain. I want a life that is interesting, has wonderful moments and development options which I do not want to miss out on. So, in short, the place that I want to be is called MEDIHELP.

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International Private Medical Insurance Magazine Provider Network Directory October 2021

The October 2021 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 during a global pandemic.

The international medical 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. 

IPMI Market Network Sectors: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Insurance Technology, Healthcare Insurance Management and Pharmacy Benefits Management.

    Enter full screen click the small rectangle above ↑

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.

Classifications include: IPMI, Assistance, Air Ambulance, Cost Containment And Claims Management, Funeral Directors, Ground Ambulance, Healthcare Insurance Management and Pharmacy Benefits Management.

Current Advertisers 

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

 

 

Read more...

International Private Medical Insurance Market Updates With iPMI Analyst Ian Youngman

In the article International Health Insurance 2021 IPMI market report author Ian Youngman, looks at the latest developments in the international private medical insurance market including:

  • The recent Bupa/Generali deal;
  • British expatriates in Spain;
  • Changes to the law for foreign investors in Indian insurance companies;
  • How health insurance premiums will grow in China;
  • Opportunities in Health Insurance in Iran.

British expats in Spain

In 2020 there were 360,000 British expats in Spain. Some work there and some retire to there.

Many have a UK home and a Spanish home. They spend 6 months in the UK and 6 months in Spain. This worked when the UK was in the EU. Now they have to choose between living in Spain full time or for less than 3 months. Many are selling up in Spain.

This will hit the IPMI market for those small UK agencies targeting British expats.

Bupa and Generali

There have been rumours on the grid for months that Generali was getting out of writing IPMI.

The Bupa/Generali deal allows Generali to concentrate on other areas it is better and bigger at - while allowing Bupa to enter or expand in many countries without having to build or increase a local infrastructure.

Global IPMI is now something you can no longer dabble in. You either commit globally or where you want to be. So I expect more insurer/insurer deals.

Yes, an insurer can decide only to offer IPMI in select countries. That works for individuals and SMEs. But what happens when your biggest corporate customers decide to become major players in a country where you have withdrawn from or refuse to enter, and you need a local base or partner as offshore IPMI is not allowed?

RELATED READING: International Health Insurance (IPMI) 2021

India

Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 apply to new and existing insurers with foreign shareholders.

This increased the foreign investment ceiling from 49% to 74% in the insurance industry from May 2021, as the government seeks capital injections and growth in the insurance sector.

Indian insurance companies that have foreign investors must have the majority of their directors and key management persons as resident Indian citizens. At least one of the following – board chairperson, managing director, or CEO – must also meet the citizenship requirements.

Insurers have until May 2022 to comply with these new rules.

Several IPMI insurers have started the process of increasing their stake in Indian subsidiaries.

China

Health insurance premiums in China will grow by 14% annually over the next 10 years, and China's share of global health premiums will rise from less than 2% today to 4.2% in 2029, forecasts Swiss Re Institute (SRI) in a Sigma report.

In China, new business will support double-digit growth in PMI premiums. State figures say that by end 2021 1.4 billion people have health insurance plus 236 million with maternity insurance.

In spite of fast-growing household incomes and also insurance penetration, a still-large health protection gap in China exists. The development of private health insurance, in particular products for the fast-growing middle-income class, is a key to closing the gap. The experience of China in effecting greater uptake of private health insurance has reduced high out of pocket expenses.

Foreign ownership in China is complex but IPMI insurers see this as a massive market

Iran

Hiss boo - the pantomime villain of the world, if you only read Western media.

The second biggest economy in the Middle East is making massive progress on its own and by new deals with Russia and China on infrastructure and trade, and hard currency that the US and Europe thought they had cut off.

The US, after its massive success in Afghanistan and Iraq somehow thinks it can bring about regime change by economic and political pressure - dream on.

While European and US insurers are banned from Iran by their governments - expect Chinese health insurers to move in.

So if you are a US or EU insurer – if you own or part own a Chinese insurer- it can write offshore business in Iran! 

RELATED READING: International Health Insurance (IPMI) 2021

Leading international private medical insurance publisher iPMI Magazine is excited to announce the launch of the “International Health Insurance 2021" IPMI market report written by leading insurance and healthcare analyst Ian Youngman.

There are now 80 million expatriates, 5 million international students, 4 million temporary foreign workers, and 18 million high net worth individuals of which 2.7 million are ultra high net worth. All of these are targets for international private medical insurance.

How To Buy International Health Insurance (IPMI) 2021

We are selling the report on Research and Markets for £3600 for all 3 volumes. However, if you are an advertiser or iPMI Magazine subscriber, we are offering the report at a reduced price. To take advantage of this offer please complete the form here, or write to ipmi[at]ipmimagazine.com

About The Author

Ian Youngman is a writer and researcher specialising in insurance. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports and undertakes research for companies and has London market management experience with brokers and insurers. 

 

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Generali Employee Benefits And Bupa Global Announce Strategic Partnership To Offer International Private Medical Insurance

Generali Employee Benefits (GEB) and Bupa Global announce a strategic partnership to offer “best-in-class” international private medical insurance (IPMI) and global employee benefits solutions to their new and existing corporate customers.

GEB customers will have access to Bupa Global’s quality, expertise, and comprehensive health and wellbeing offering, when and where they need it, across 190+ countries. Bupa Global customers will also have the ability to access global health and benefits solutions provided by GEB’s worldwide network.

The benefits of the partnership include access to in-house healthcare experts 24/7, the ability to access a second medical opinion, a team of multilingual advisors, enhanced mental health benefits, and the ability to include these plans within international employee benefits arrangements.

This agreement builds upon GEB’s existing partnership with Bupa in the UK and reinforces GEB’s commitment to continue to provide customer-focused solutions. The partnership aligns with Bupa Global’s long-term strategy to drive growth and further strengthen its leadership position in the IPMI market, by expanding its capability to more customers globally.

Paolo Ribotta, CEO - Generali Employee Benefits, stated, “We are proud to join forces with BUPA and have the possibility to offer our clients and prospects one of the leading and world-class providers of health insurance and wellness solutions for internationally mobile employees. This is another testament to our strategy to continue to strengthen our network and ecosystem of partnerships and the result of a broader strategic plan that translates our ambition of being Lifetime Partners to our customers. Health & Wellbeing markets will continue to grow and the proposition of companies towards their employees goes in the direction of interpreting wellbeing increasingly in a broader sense. We are focusing on bringing to Internationally Mobile Employees all solutions to their needs, and having the right partners to support us on this path is key.”

Sheldon Kenton, CEO for Bupa Global, said, “Now more than ever, people are prioritising their health and wellbeing. Our own research from the Bupa Global Wellbeing Index showed that over the past year, nearly half (48%) of senior leaders spent more time focusing on their physical and mental health. We are pleased to enter this agreement with Generali Employee Benefits, which aligns to our strategy to accelerate growth in IPMI and give more customers access to premium healthcare, where and when they need it.”

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International Health Insurance (IPMI) 2021

International Health Insurance (IPMI) 2021

Leading international private medical insurance publisher iPMI Magazine is excited to announce the launch of the “International Health Insurance 2021" IPMI market report written by leading insurance and healthcare analyst Ian Youngman. There are now 80 million expatriates, 5 million international students, 4 million temporary foreign workers, and 18 million high net worth individuals of which 2.7 million are ultra high net worth. All of these are targets for international private medical insurance. International health insurance for expats, third...

18-05-2021 International Private Medical Insurance Magazine Reports

International Health Insurance 2020: The Definitive iPMI Market Report Is Out Now

International Health Insurance 2020: The Definitive iPMI Market Report Is Out Now

Leading international private medical insurance publisher iPMI Magazine is excited to announce the launch of “International Health Insurance 2020" - International Health Insurance for Expats, High Net Worth Individuals, 3rd Country Nationals, Domestic Nationals and Global Nomads. There are more opportunities than ever for insurers and brokers to sell health insurance globally to locals and internationals. The global demand for health insurance is rising fast; There are opportunities for health insurers and brokers; The numbers of expatriates are rising and...

17-06-2020 International Private Medical Insurance Magazine Reports

International Health Insurance 2019: The Definitive iPMI Market Report

International Health Insurance 2019: The Definitive iPMI Market Report

Leading international private medical insurance publisher iPMI Magazine is excited to announce the launch of “International Health Insurance 2019 - International Health Insurance for Expats, High Net Worth Individuals, 3rd Country Nationals, Domestic Nationals and Global Nomads: Volume 1, 2 and 3.  There are more opportunities than ever for insurers and brokers to sell health insurance globally to locals and internationals. The global demand for health insurance is rising fast; There are opportunities for health insurers and brokers; The numbers...

05-04-2019 International Private Medical Insurance Magazine Reports

BREXIT And Insurance

BREXIT And Insurance

iPMI Magazine is excited to announce another excellent report and another excellent discount, for those insurers, brokers and agents selling - or planning to sell - into the UK and/or EU markets post BREXIT. With 200 pages of critical insurance business intelligence, this new market research report from leading insurance analyst Ian Youngman features the information you need to know, before it is too late: BREXIT is a legal and logistical nightmare.  UK regulators have demanded that every...

27-04-2018 International Private Medical Insurance Magazine Reports

About iPMI Magazine Reports

Delivered digitally in PDF format, iPMI Magazine market research reports contain all the insurance and healthcare business intelligence you need to make well informed cross-border business decisions. The results of over 60 years of combined IPMI market research, iPMI Magazine reports are where leaders learn from leaders from in-depth, specific and high targeted technical market contents.