iPMI Magazine High Net Worth Insurance IPMI Round Table Business Forum

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The Best Views From The World Of iPMI AND ASSISTANCE EXECUTIVE ROUNDTABLES INTERNATIONAL MEDICAL INSURANCE

ROUND TABLE: PROVIDING iPMI TO HNW INDIVIDUALS PLUS: iPMI Magazine Provider Network Directory Featuring Aetna International, Bellwood Prestbury, Cigna Global IPMI, DavidShield, Generali Global Health, GeoBlue, Globality Health, Healthcare International, Integra Global, Pacific Cross International and Wellaway.

Global coverage, reliablity and service.

Seeking out new life and new civilisations. No matter how undiscovered and

Globality Health is the international health insurer with a special focus on expatriates. As part of Munich alien your new country may feel, DKV Globality provides you with outstanding healthcare wherever you go.

Health, we give you the strength and security of a leading global primary insurer and reinsurer. Under ÂŽ ÂŽ

With Globality CoGenio and Globality YouGenio we offer internationally operating companies and their

the Munich Health brand, Munich Re pools its primary insurance and reinsurance operations, as well as expatriate staff as well as individuals and their families flexible underwriting solutions, high-level products

related services in international healthcare business.

with comprehensive outpatient, inpatient and dental insurance cover and market leading services around the

Munich Re as a group stands for exceptional solution-based expertise, consistent risk management, globe. Plus the advantage of covering pre-existing diseases in the insurance policy. Trust in our expertise.

financial stability and client proximity. Some 40 million clients in over 30 countries place their trust in the services and security Munich Re provides.

www.globality-health.com

Globality Health means … … feeling at home wherever you are.

Outstanding care for outstanding people. DKV Globality is the international

With Globality CoGenio® and Globality YouGenio® we offer international companies and their expatriate health insurer with a special focus on expatriates. As a member of Munich Health with more than 5,000

staff and individuals and their families, flexible underwriting solutions, high-level products with

experts at 26 locations worldwide we offer innovative healthcare solutions for clients and partners all over

comprehensive outpatient, inpatient and dental cover and market leading services around the globe. the world. As an integral part of the Munich Re Group, we give you the financial strength and security of one of the world’s leading insurers and reinsurers.

Call our experienced consultants at +352 270 444 2201 or visit www.globality-health.com to find out more.

Call our consultants at +352 270 444 2201 or visit www.dkv-globality.com to find out more.

GIVE YOUR CLIENTS ACCESS TO QUALITY HEALTHCARE, AROUND THE WORLD At Cigna Global, we offer individual international private medical insurance to meet the needs of expatriates and globally mobile individuals.

Our plans are flexible, with the reassurance of comprehensive core cover and optional modules, to help you build a plan which fits your clients’ needs.

Learn more at cignaglobal.com/brokers

“Cigna” and the “Tree of Life” logo are registered service marks of Cigna Intellectual Property, Inc., licensed for use by Cigna Corporation and i operating subsidiaries include Cigna Global Insurance Company Limited, Cigna Life Insurance Company of Europe S.A.–N.V, Cigna Europe Insu

its operating subsidiaries. All products and services are provided by or through such operating subsidiaries, and not by Cigna Corporation. Such urance Company S.A.-N.V. and Cigna Worldwide Life Insurance Company Limited. Š 2017 Cigna

Pacific Cross Insurance Inc. Pacific Cross Healthcare Inc.

Pacific Cross Vietnam

A global partner you can rely on GROUP OF COMPANIES

A clear departure from ‘standard’ global healthcare services for expats Destination anywhere - tailor our combination of health, travel and security related risk management solutions to support your business needs.

And with genuine transparency on costs, we won’t cost you the earth.

A familiar name in insurance for your clients in unfamiliar situations

Travel Medical and International Health Insurance

Contact your local Blue Cross Blue Shield Representative or visit www.geobluetravelinsurance.com or call toll-free at (855) 481-6647.

CONTENTS

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BENEFIT FROM iPMI: EXPERT INSIGHT FOR iPMI EXECUTIVES

Aetna Don Van Scyoc

Bellwood Prestbury Andrew Apps

Cigna Arjan Toor

Healthcare International Steve Gregory

ROUND TABLE CONTENTS HNW WEALTH AND POPULATION GROWTH PAGE 15 HNWI’S WORRY ABOUT...

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C-SUITE EXECUTIVE ROUND TABLE

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HIGH NET WORTH INDIVIDUALS NEED MORE APPROPRIATE IPMI POLICIES

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IPMI UNDERWRITERS AND PROVIDERS

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ON THE FRONT COVER: Since setting up an IPMI brokerage firm in the last iPMI Magazine round table, our intrepid traveller has made it to the big time and is pictured watering his high net worth money tree.

He has lovingly named the tree Theresa.

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ENVIRONMENTALLY FRIENDLY PUBLISHING: Please consider our environment before printing this publication. iPMI Magazine is designed to be read online.

CONTACT US: Write to ipmi@ipmimagazine.com or contact your account manager directly. To contact us via a contact form please click here.

iPMI PROVIDERS IN FOCUS: Turn To Page 51 for complete business inteiigence featuring Aetna International, Bellwood Prestbury, Cigna Global IPMI, DavidShield, Generali Global Health, GeoBlue, Globality Health, Healthcare International, Integra Global, Pacific Cross International and Wellaway.

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FEATURED IPMI NEWS

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NORTH AMERICA GROWTH SLOWS, ASIA-PACIFIC SURGES AHEAD IN HNW WEALTH AND POPULATION 4WHILE HNWI WEALTH GROWTH WAS A MODEST 4% IN 2015, HNWI WEALTH CONTINUED TO HIT NEW RECORD HIGHS, AIDED ESPECIALLY BY ASIA-PACIFIC OVERTAKING NORTH AMERICA AS THE NUMBER ONE WEALTH MARKET. FALTERING GROWTH IN THE AMERICAS CONSTRAINED GLOBAL HNWI WEALTH EXPANSION.

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hile globally in 2015 High Net Worth Individual (HNWI) wealth saw only a modest growth of 4 percent, wealth in Asia-Pacific grew at an aggressive 10 percent propelling Asia-Pacific into the lead position as the region with the most HNWI wealth globally.

This is the first time that AsiaPacific is ahead of North America for both HNWI wealth and population.

In 2015, Asia-Pacific held US$17.4 trillion in wealth with a 5.1 million HNWI population in comparison to North America’s US$16.6 trillion in HNWI wealth and 4.8 million in population.

Global HNWI wealth reached US$58.7 trillion and the HNWI population grew at 4.9 percent to be 15.4 million in 2015. Since 1996, global HNWI wealth growth has expanded by four times equaling nearly US$59 trillion, and if current modest growth rates hold, wealth

is projected to reach US$100 trillion in 2025. Despite these record wealth levels, the report also found that only one-third (32 percent) of global HNWI wealth is currently being managed by individual wealth managers, representing a challenge and an opportunity for firms to consolidate assets.

“It is remarkable that only onethird of HNWI wealth is currently with wealth management firms which shows how great the growth potential is for firms that can combine digital technology and FinTech capabilities with human expertise and relationships, to reflect state-of-the-art services for clients,” says Anirban Bose, Head of Banking and Capital Markets, Capgemini’s Financial Services Business Unit. “Those firms that can offer a digitallyintegrated customer experience that builds on high levels of trust

and confidence in firms and captures the characteristics of speed, flexibility and ease of use will be well positioned to become leading firms of the future.”

Asia-Pacific has been a driving force, doubling HNWI wealth and population over the decade. AsiaPacific’s HNWI wealth grew by 10 percent in 2015 which is almost five times North America’s 2 percent wealth growth in 2015 decelerating substantially from 2014’s 9 percent growth rate. Using a more aggressive growth projection, if markets in Asia-Pacific continue to grow at its 2006 to 2015 rate, Asia-Pacific will represent two-fifths of the world’s HNWI wealth in ten years, more than that of Europe, Latin America, and Middle East and Africa combined. Japan and China stand out as regional dynamos, driving almost 60 percent of global HNWI population growth in 2015.

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Asia-Pacific’s HNWI population growth of 9 percent in 2015 also far outpaced that of North America (2 percent), and was nearly double that of Europe (5 percent).

Latin America was impaired by the poor performance of Brazil, which lost momentum in both HNWI population (-8 percent) and wealth (-6 percent). Dampened

by Latin America, ultraHNWI wealth, long a driver of overall HNWI wealth did not provide its usual boost in 2015. Excluding Latin America, however, ultra-HNWI wealth grew more than the other wealth segments, both in 2015 and for annualized growth over 2010 to 2014.

Japan and China emerged as engines of global growth, registering double-digit increases in HNWI population and ultra-HNWI wealth growth. Together, the two countries drove nearly 60% of global HNWI population growth. Brazil was the poorest performing country, losing 7.8% of its HNWI population and 5.9% of ultra-HNWI wealth.

Ultra-HNWI wealth, long a driver of overall HNWI wealth, did not provide its usual boost in 2015. Dampened by Latin America, the global ultraHNWI population expanded by just 4.2% and wealth

by only 2.5%.

Excluding Latin America, however, ultra-HNWI wealth grew more than the other wealth segments, both in 2015 and over the past four years.

Global HNWI wealth is projected to nearly triple in size from 2006-2025 to surpass US$100 trillion by 2025, propelled by strong Asia-Pacific growth. If past growth rates hold, AsiaPacific is likely to continue to be a dominant force over the next decade, representing two-fifths of the world’s HNWI wealth, more than that of Europe, Latin America, and the Middle East and Africa combined. For the purpose of the above information, HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables. For the purpose of the analysis, we separate HNWIs into three distinct wealth bands: Those with US$1 million to US$5 million in investable wealth (millionaires next door); those with US$5 million to US$30 million (mid-tier millionaires); and those with US$30 million or more (ultra-HNWIs). l

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FEATURED IPMI NEWS

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RESEARCH SHOWS HIGHNET-WORTH INDIVIDUALS WORRY ABOUT UNDER INSURANCE 4MORE THAN HALF (54%) OF HIGH-NET-WORTH INDIVIDUALS ARE CONCERNED THAT THEY ARE UNDERINSURED, WITH MANY WORRIED THEY ARE BUYING INSURANCE THAT MAY BE INADEQUATE FOR THEIR NEEDS, ACCORDING TO NEW RESEARCH PUBLISHED BY CHUBB.

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n spite of this, the research of 500 HNWIs in the UK, Ireland and France, reveals that only three in 10 (30%) of respondents look for insurers or brokers that are experts in high-net-worth insurance, and fewer than a fifth (19%) buy from a specialist broker.

Findings of the research suggest that HNWIs look for service excellence in their insurance cover, identifying three main “pillars” of what high-quality service looks like: “Platinum” support: When it comes to service, respondents list strong relationship management with a single named point of contact (63%), a high level of responsiveness (63%), and willingness from insurers and brokers to go the extra mile (53%) as their top priorities.

Specialist touch: HNWIs are looking for insurance cover that addresses their unusual lifestyle and atypical possessions. Specifically,

they prioritise high-end appraisal and valuation services (58%), specialist understanding of the ‘HNWI experience’ (52%), and expert knowledge of the valuable items collected by many HNWIs (51%).

Superior claims-handling experience: A fair, expert and ‘pain-free’ claims-handling service is a major factor for HNWIs looking for insurance cover and six in ten (59%) specifically seek a provider with a good reputation for claims handling.

The research paints a largely positive picture for insurance brokers and carriers with close to seven out of ten respondents (68%) having confidence in their insurance provider and their level of expertise. At the same time, HNWIs expect carriers to invest more in an omnic hannel communications approach that focuses on online (42%), phone

(40%) and mobile (34%) channels.

Jeremy Miles, Senior Vice President, Personal Risk Services, for Chubb in Europe said, “The findings of our research underline the need for brokers and carriers alike to develop an even stronger service proposition for their private clients. If they are unable to give HNWIs complete peace of mind, there are others in the industry who will gladly step up. ”

iN FOCUS THIS ISSUE >>> //////////////////////////////////////////////////////////////

EXCLUSIVE ROUNDTABLE: iPMI FOR HIGH NET WORTH INDIVIDUALS

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INTERNATIONAL MEDICAL INSURERS FORUM

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n a Closed Door Exclusive Round Table Business Forum iPMI Magazine Spoke with C-Suite Industry Leaders from the Private Medical Insurance Market about International Private Medical Insurance for High Net Worth Individuals.

Featuring Aetna International, Bellwood Prestbury, Cigna Global IPMI and HealthCare International.

This round table looks at the high net worth individual market and the benefits for worldwide insurance providers when they provide IPMI to high net worth individuals.

Discover Aetna International’s NEW Pioneer & Summit global health care plans Choice We provide cover for inpatient and outpatient care, dental treatment and hospitalisation to name a few.

Control Let your clients take charge of their health with tools that fit with their busy lifestyle, like our Online Health Assessment.

Comfort We’ll help to keep your clients and their family safe with resources to manage their personal safety if they’re outside their home country.

Convenience Wherever your clients are in the world, they can count on our web and mobile technology to keep our services and support within reach.

Care Our team of specialised clinicians and multilingual case managers are available 24/7/365 to support your clients no matter where they are.

Isn’t it time your clients receive robust health care solutions, anytime, anywhere?

Learn more at aetnainternational.com Or call the team on +44 (0) 870 442 2676

Aetna® is a trademark of Aetna Inc. and is protected throughout the world by trademark registrations and treaties.

Information is believed to be accurate as of the production date; however, it is subject to change. For more information about Aetna International plans, refer to www.aetnainternational.com. ©2016 Aetna Inc. 46.12.105.1-EU (12/16)

EXECUTIVES

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VIP ARRIVAL LOUNGE

DON VAN SCYOC AETNA INTERNATIONAL >> INTERNATIONAL PRIVATE MEDICAL INSURANCE PROTECTION FOR EXPATRIATES, BUSINESS TRAVELLERS AND TOURISTS. LEARN MORE ABOUT THE COMPLEX WORLD OF IPMI, LOG ON TO IPMIMAGAZINE.COM FOR DAILY INTERNATIONAL MEDICAL, HE ALTHCARE, EXPATRIATE AND TRAVEL INSURANCE INDUSTRY ANALYSIS.

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International experts you can trust

As an experienced independent expert, you can trust Bellwood Prestbury to help you set-up and manage the right IPMI for individuals or companies, anywhere in the world.

Find out more at

bellwoodprestbury.com/ipmi Bellwood Prestbury Limited, 4 Imperial Square, Cheltenham, GL50 1QB, United Kingdom • +44 (0) 1242 584 558 Bellwood Prestbury Limited is registered in England no. 1100251. Authorised and regulated by the Financial Conduct Authority (www.fca.org.uk).

EXECUTIVES

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VIP ARRIVAL LOUNGE

ANDREW APPS BELLWOOD PRESTBURY >> INTERNATIONAL PRIVATE MEDICAL INSURANCE PROTECTION FOR EXPATRIATES, BUSINESS TRAVELLERS AND TOURISTS. LEARN MORE ABOUT THE COMPLEX WORLD OF IPMI, LOG ON TO IPMIMAGAZINE.COM FOR DAILY INTERNATIONAL MEDICAL, HE ALTHCARE, EXPATRIATE AND TRAVEL INSURANCE INDUSTRY ANALYSIS.

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INTERNATIONAL HEALTH INSURANCE FROM CIGNA GLOBAL Give your expatriate and globally mobile customers access to quality healthcare, around the world. We combine years of experience in private medical insurance with an understanding of the service your customer needs. We then add the flexibility to create an insurance plan that works for your customer.

Learn more at cignaglobal.com/brokers

“Cigna” and the “Tree of Life” logo are registered service marks of Cigna Intellectual Property, Inc., licensed for use by Cigna Corporation and its operating subsidiaries. All products and services are provided by or through such operating subsidiaries, and not by Cigna Corporation. Such operating subsidiaries include Cigna Global Insurance Company Limited, Cigna Life Insurance Company of Europe S.A.–N.V, Cigna Europe Insurance Company S.A.-N.V. and Cigna Worldwide Life Insurance Company Limited. © 2017 Cigna

EXECUTIVES

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VIP ARRIVAL LOUNGE

ARJAN TOOR CIGNA GLOBAL IPMI >> INTERNATIONAL PRIVATE MEDICAL INSURANCE PROTECTION FOR EXPATRIATES, BUSINESS TRAVELLERS AND TOURISTS. LEARN MORE ABOUT THE COMPLEX WORLD OF IPMI, LOG ON TO IPMIMAGAZINE.COM FOR DAILY INTERNATIONAL MEDICAL, HE ALTHCARE, EXPATRIATE AND TRAVEL INSURANCE INDUSTRY ANALYSIS.

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EXECUTIVES

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VIP ARRIVAL LOUNGE

STEVE GREGORY HEALTHCARE INTERNATIONAL >> INTERNATIONAL PRIVATE MEDICAL INSURANCE PROTECTION FOR EXPATRIATES, BUSINESS TRAVELLERS AND TOURISTS. LEARN MORE ABOUT THE COMPLEX WORLD OF IPMI, LOG ON TO IPMIMAGAZINE.COM FOR DAILY INTERNATIONAL MEDICAL, HE ALTHCARE, EXPATRIATE AND TRAVEL INSURANCE INDUSTRY ANALYSIS.

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ARRIVALS

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Q1

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PLEASE INTRODUCE YOURSELF AND BACKGROUND IN THE INTERNATIONAL PRIVATE MEDICAL INSURANCE (IPMI) MARKET:

DON VAN SCYOC: My name is Don Van Scyoc and I’m the head of individual direct business here at Aetna International. I have 20+ years’ experience in the insurance space, both in the US and international markets. I started out as a chartered accountant, and I bring a love of numbers to a marketing and sales role. So when we decide to move forward with a project, I want to know the likely impact and return on investment.

Understanding what drives customer behaviour is vital. What’s important to the insurance industry may not be important to those buying individual health cover. Aetna International is a customerfocused company. And we want to empower the customer to buy and deal with us via whatever channel they feel is most appropriate for them; be that via brokers, call centres or online.

I currently have responsibility for the direct sales function at Aetna International. Previous to this, I have had roles supporting both direct sales and broker distribution.

ANDREW APPS: Having enjoyed 32 years working in the PMI industry, the past 26 years exclusively in the international sector, I have gained firsthand experience of how both insurers and intermediaries operate, enabling an understanding of the way each side behaves and the changing demands of one of the insurance industry’s fasting growing sectors.

As a seasoned traveller and former expatriate, I have worked extensively across South East Asia, the Former Soviet Union, Eastern Europe, Africa and the Middle East, developing business operations with local and multi-national companies.

This valuable experience has enabled a unique understanding not only what it is like to be living overseas in an unfamiliar country, but the unique relationship building skills necessary for developing business in these territories.

Holding a variety of senior management and

directorship roles at Bupa, Goodhealth Worldwide, Aetna International, ALC Health and now as Head of Global Healthcare at specialist international intermediary Bellwood Prestbury, I have also been a former deputy chairman of the Association of International Medical Insurance Providers (AIMIP), and currently sit on the Executive Committee of the Association of Medical Insurers and Intermediaries (AMII).

ARJAN TOOR: My name is Arjan Toor, Managing Director of Cigna Global IPMI. In 2015, after spending 4 years as Chief Marketing Officer of Cigna’s International Markets, based in Hong Kong, I was asked to lead the IPMI business for Cigna. As an expat myself, I am very close to the needs and expectations of our globally mobile customers. Now based in the UK, I am responsible for the continued growth and expansion of Cigna’s Global IPMI business, which was launched in 2011. With our continued focus on the customer, coupled with unparalleled service, we have grown to become one of the leading providers of cross-border health and wellbeing solutions. With an “insights-first” mind-set, we deliver our innovative propositions based on the needs of our customers and distribution partners. And with offices all over the world, we are able to localize our services and offerings where and when our customers need us most.

STEVE GREGORY: Steve Gregory, General Manager for HealthCare International, a specialist IPMI company operating in the international market for more than 15 years with offices in London and Dubai. We focus on the expatriate markets worldwide, with a range of relevant products, from IPMI, to Travel and Life and Income Protection policies. Steve Gregory has worked in Medical insurance internationally for more than 20 years and is an expatriate himself, so he understands the issues faced by HCI’s expatriate clients.

ROUND TABLE

Q2

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HOW DO YOU DEFINE A HIGH NET WORTH (HNW) INDIVIDUAL?

”We would see this as someone who is prepared to fund their own private medical health treatment without necessarily reverting to an insurance product.”

ANDREW APPS BELLWOOD PRESTBURY

DON VAN SCYOC: A common measure of a HNW individual is someone with between USD$1m and USD $5m in liquid assets. But that definition is a bit simplistic. For younger people, you can define HNW in terms of income. For older people, wealth is more about assets. Where you live is also a factor. If you are making US$200,000 a year in a developing country, you’re standard of living will be much higher than if you had the same income and lived in an area with a very high cost of living like New York or London.

ANDREW APPS: This is an interesting question as the definition will change from one country to another and of course from sector to sector, but from an IPMI perspective, we would see this as someone who is prepared to fund their own private medical health treatment without necessarily reverting to an insurance product.

ARJAN TOOR: Traditionally, the high net worth individual was bench marked at $1million USD of financial assets, but I’m not sure how relevant that figure is these days. Wealth is quite a relative notion, depending on location, and even local terminology.

In China, for example, it can be more accurate to base wealth, or ‘net worth’ on consumption, rather than income and assets. If we look at equivalent regions such as the UAE, Vietnam or India, it can

become more difficult to identify those classed as ‘wealthy’. To define HNW at $1m USD of assets feels like a very Western perspective on wealth.

Depending on the region, we can look at the top percentage of the high earners in each market and use this data to help define the segment. It is more meaningful to consider how much of a person’s spendable income they will allocate to health care costs – and this again varies significantly per location.

STEVE GREGORY: I don’t know if there is a specific, universal definition Is there? Certainly there’s no magic, industry-wide number that I’m aware of that tips someone over into an HNW category, though I’m sure many insurers have a demarcation line they use internally. At HCI we recognise individuals who are looking for a very specific or bespoke insurance solution where the premium is not the key consideration.

These people tend to self-select themselves in our experience and they often reach us through an intermediary relationship where their introducer or adviser makes us aware of their financial standing.

A familiar name in insurance for your clients in unfamiliar situations

Travel Medical and International Health Insurance

Contact your local Blue Cross Blue Shield Representative or visit www.geobluetravelinsurance.com or call toll-free at (855) 481-6647.

ROUND TABLE

Q3

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ARE HIGH NET WORTH INDIVIDUALS HARDER TO INSURE THAN THOSE ON LOWER INCOMES, AND IF SO WHY?

”HNW individuals are no more or less easy to insure that those who may not fall into that bracket. The same principles apply.”

DON VAN SCYOC AETNA INTERNATIONAL

DON VAN SCYOC: HNW individuals are no more or less easy to insure that those who may not fall into that bracket. The same principles apply. It’s all about levels of risk and cover required. Premiums tend to be more expensive for older people, especially if they have pre-existing conditions. But older people are more aware of the need. For younger people, premiums tend to be lower, especially if they have no health issues. And this group may be less worried about the risk of having no insurance.

People with families are generally more aware of the risk because of their dependents. So they understand the argument for health insurance more readily than their younger counterparts.

The same is true for product design. A product that offered a concierge level of service would be more expensive but perfectly possible to create.

ANDREW APPS: Often a HNW individual is someone who takes the view that when they need something they simply buy it rather than planning for every eventuality that may or may not occur in the future.

As a result, HNWs tend to be less risk adverse than perhaps most people, until such time that something happens which of course is too late. For many HNWs they want to see a ‘return’ on their investment (in insurance) so need to understand how buying IPMI can benefit them.

ARJAN TOOR: Interesting question. HNW customers have higher expectation of benefits and services however with IPMI you get what you pay for so I wouldn’t say that HNWIs are harder to insure. It’s about quality of service, wellbeing and preventative care, which goes above and beyond basic financial protection against risks and catastrophes.

Many of our customers, especially those considered high earners, come to Cigna for the high standard of service and the peace of mind that we offer them.

Not to mention direct billing partnerships with over 1 millions provides on a global scale.

STEVE GREGORY: They are not harder, but they can be more challenging. What we like about these clients is that they generally have a clear view of what they want cover for and if that takes us away from a standard package offering then that’s the challenging part, because bespoke solutions take time to define and arrange. That time is generally well-spent though, because once these people get what they want they tend to proceed quickly. It sounds clichéd, but it’s nevertheless true that these clients generally understand value and so are prepared to pay for a truly quality product offering that meets their needs.

Pacific Cross is more than just insurance. Pacific Cross provides peace of mind.

Pacific Cross Insurance brings over 65 years of experience in the health and travel insurance industry to clients throughout Asia.

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ROUND TABLE

Q4

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HIGH NET WORTH INDIVIDUALS ARE ABLE TO PAY FOR PRIVATE MEDICAL TREATMENT STRAIGHT OUT OF POCKET. WHY DO THEY NEED IPMI?

DON VAN SCYOC: Interesting question. Many HNW individuals may well be able to pay for their healthcare out of pocket but cost isn’t the only factor in this purchasing decision. It’s sometimes about the avoidance of risk and predictability. The certainty that high quality healthcare protection is always there for them is more important than the cost.

Of course, IPMI cover does more than just pay for medical treatment. Pre-trip planning guidance and support can also be invaluable. As is the reassurance of knowing that you have wider medical support – whether for a second opinion or to arrange an emergency evacuation.

ANDREW APPS: Quite simply it makes financial sense. Most HNW’s entire being revolves around their ability to ‘earn’, so facing a period when they are perhaps unable to do so can often have an impact on this. Many HNW’s are self-employed so when they are not working they are not earning.

The other point to remember is than many HNW’s are used to having things done for them. Arranging meetings, organising flights, booking restaurants.

When it comes to needing medical care, the need for being organised becomes a linchpin to the whole process. Who to see, when and where.

This is where IPMI and the plan providers really come into their own, particularly for someone living in working in an unfamiliar country where access to high quality medical care can be difficult at the best of times.

ARJAN TOOR: Some HNWIs would be able to “selfinsure” and just pay any medical costs out of pocket.

However, the cost of health care, especially when in the US or Singapore, should never be underestimated.

The latest report from the IFHP shows that the average cost for bypass surgery in the US was just under $80,000 in 2015. Combine this with some patients

paying over $17,000 per overnight stay in a hospital and these costs can quickly become a massive financial burden – even by a high earner’s standards.

For our customers who buy our high-end insurance plans, this is less about the financial protection and more because of the service that is provided by Cigna. To many HNWIs, the reason for choosing Cigna is the relentless focus on the customer that we place on our service - providing a one-stop health and wellbeing shop, which is supported by our deep global health care expertise. If you’re not sure how the local medical system in your host country works, we have the expertise to help you navigate and get access to the highest quality care.

And so I think the most important consideration is the ability to access high quality healthcare facilities, without the inconvenience of having to pay out of pocket and claim afterwards, which is why we work closely with our healthcare providers. It’s the reassurance that we don’t only have an expansive network, but that our customer service teams are there 24/7 to help you get to the right medical professional or facility.

STEVE GREGORY: That’s true, we’ve insured billionaires who could obviously afford to self-insure, but people with this sort of money tend to be good businesspeople and they understand about risk-transfer. Their lives are often heavily involved in business ventures where they are looking to avoid or minimise risk. Insurance obviously has a major part to play in this so it’s natural for them to carry this approach over into their private lives. So they insure their houses, cars yachts and of course, their health. They also want to avoid having to deal with these things for themselves, so they pay the premium and let the insurer worry about the details including payment of providers - leaving them to focus on getting well.

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WE CAN OPEN DOORS IT’S UP TO YOU TO WALK THROUGH

“THE INTERNATIONAL PRIVATE MEDICAL INSURANCE MAGAZINE HAS GREAT MARKET KNOWLEDGE AND EXPERIENCE IN THE IPMI SECTOR AND THEY PRODUCE EXCELLENT MARKET UPDATES. WE ARE DELIGHTED TO BE ASSOCIATED WITH CHRISTOPHER KNIGHT AND HIS TEAM.” CHRISTOPHER PERCIVAL BOARD DIRECTOR HEALTHCARE INTERNATIONAL

ROUND TABLE

Q5

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HOW WIDELY ADOPTED IS IPMI FOR HIGH NET WORTH INDIVIDUALS?

”Growing regulation has pushed IPMI into the public eye and so the demand for high quality ‘concierge’ products are starting to become better placed.”

ANDREW APPS BELLWOOD PRESTBURY

DON VAN SCYOC: This is a difficult question to answer. But the level of adoption varies significantly by region and culture. In the US, most HNW individuals will have health insurance. The same applies to other high cost areas such as Singapore and Hong Kong.

ANDREW APPS: This is a growing market as the complexities of accessing high quality healthcare becomes greater and the cost of treatment grows even more expensive. Growing regulation has pushed IPMI into the public eye and so the demand for high quality ‘concierge’ products are starting to become better placed.

ARJAN TOOR: It’s difficult to provide a conclusive answer to this, due to the different definitions of high net worth individuals. This is also compounded by localised requirements for health insurance in

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each market, and varying cultural expectations or legal requirements in terms of tendencies to selfinsure vs. employee provided plans. In Dubai, for example, regulations stipulate that you have to be covered by your employer, which may be your own small business. Some people may also use local plans.

STEVE GREGORY: I don’t have any way of knowing that, but what I do know is that any of these individuals whom we have been asked to arrange insurance for have always proceeded with coverage.

I’ve yet to hear of one deciding to take a chance and go without, which seems to be far more common in the general population. These people tend to be very clear in terms of what they want and they are decisive – they don’t have time to procrastinate so if you can give them what they want, they’ll take it.

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ROUND TABLE

Q6

41

| iPMIM

DO TRADITIONAL MASS MARKET INTERNATIONAL PRIVATE MEDICAL INSURANCE PLANS MEET THE INTERNATIONAL MEDICAL INSURANCE NEEDS OF HIGH NET WORTH INDIVIDUALS?

DON VAN SCYOC: There are some super-high end products with highly personalised concierge services.

Taking those out of the equation, however, I believe that most of the products on the market today will meet the needs of the HNW individual.

Insurers have a range of options and many are able to create products that can cover all the healthcare requirements of HNW individuals.

ANDREW APPS: HNWs demand the best. They want access to the best available care, where and when they want it and not to be told that something isn’t covered. Some restrictions do of course have to be set, but the HNW wants these to be keep to a minimum and be faced with the least amount of administration as possible, so completing forms can be a real barrier.

For many HNWs, their day to day lives are organised by ‘other people’, so they need to be able to pass on the chore of filling in forms for a claim to someone else. Of course, this often conflicts with data protection controls, so for a product to appeal to a HNW, it needs to offer a way of circumventing this issue, particularly when it comes to making a claim.

ARJAN TOOR: It is all about how you can support you customer independent of the location that he or she is in.

We’d like to think that we can offer more than some of the more general, mass market plans out there. We see ourselves as real specialists this field.

Cigna Global IPMI has always set its focus on globally mobile individuals and the things we know about the specific needs and expectations of these customers help shape our solutions.

We work constantly to try and understand our

customers more, collecting relevant customer insights through market research, focus groups and customer satisfaction surveys. We carefully listen to our HNWI customers to understand how their needs are evolving, adjusting our proposition accordingly. For example, we have just introduced a Travel Concierge Service in Indonesia to accommodate customers who choose to go abroad to places like Singapore, in order to access higher quality medical care.

STEVE GREGORY: Although we often end up coming up with bespoke arrangements for these HNW clients, actually for the most part our standard offerings are perfectly adequate for all of our clients. That’s because most claims fall within the bell curve of treatment types and costs.

The wealthy are struck down by the same illnesses as the general population – everyone, no matter their income levels expects those things to be well covered – and they are. Where these HNW people differ is in their expectations of treatment – they want the best specialists and the best facilities but actually many of our off-the-shelf solutions are rich enough in benefit levels to deliver on these expectations.

Where we tend to find the bespoke features start coming in are the ‘extras’ which sometimes sit outside the bell curve. But they do often want the total freedom to decide where they will be treated, by whom and when. And if that’s a top hospital in Switzerland or the US then that’s where they are going to go – we need to accept that cost-containment is going to be more challenging but also to recognize that they are paying a premium for a higher level of choice.

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ROUND TABLE

Q7

43

| iPMIM

WHICH IPMI PLAN DO YOU CURRENTLY OFFER THAT IS BEST SUITED FOR HIGH NET WORTH INDIVIDUALS?

”Our philosophy is simple: if someone expects 5 star hotels, travel and service generally, then why would they expect less when it comes to their healthcare” ARJAN TOOR CIGNA GLOBAL IPMI

DON VAN SCYOC: Aetna Pioneer is our plan for individuals. This product can be tailored to meet the needs of individuals in a variety of circumstances and regions. The top-level cover, Aetna Pioneer 5000+, offers exceptional levels of cover and service.

Taking into account what plan design people understand is also important. Expatriates from the US will be used to dealing with co-insurance, deductibles and healthcare provider networks. So some of our plans accommodate this requirement.

And if a member is comfortable with excesses we have plans that can meet these needs.

Conversely, if a customer wants a plan with no deductibles, co-pay or excess, we have that too.

ARJAN TOOR: By providing modular products which give our customers and brokers the maximum level of choice and flexibility, they can build a plan which is customized to the specific customer needs. After all, no two customers are the same. It’s all about choice and affordability.

Cigna Global IPMI offers a choice of ‘core plans’ – either in Silver, Gold or Platinum, with increasing limit levels. Platinum offers its customers – some of whom will be HNWIs - an unlimited amount each beneficiary can claim, each year of policy.

There are some services we offer which may be especially attractive to HNWIs. We consider these as a reflection of our ‘5 star customer service’ commitment.

Our philosophy is simple: if someone expects 5 star hotels, travel and service generally, then why would they expect less when it comes to their health care?

Our aim is to consistently deliver against, and where possible to exceed, customer expectations.

STEVE GREGORY: Like every insurer, we have several plan types which offer different benefit configurations for different needs and budgets. Our Executive plan is the most benefit-rich plan and includes a lot of features which are optional extras on our other plans – alternative medicine; preventative health; travel; dental; vision etc.

But for those who want something richer still, we have our exclusive, invitation-only Empyrean Plan which not only offers unlimited coverage but also adds a wide range of concierge-type features. For example, if you need to travel offshore for treatment at the best facility we’ll arrange the limousine service and if you have the children with you, no problem, we’ll take them to daycare or a movie while you are seeing your specialist – whatever you want.

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Q8

| iPMIM

CAN YOU WALK US THROUGH THE VARIOUS BENEFITS YOU PROVIDE A HIGH NET WORTH INDIVIDUAL UNDER AN INTERNATIONAL PRIVATE MEDICAL INSURANCE PLAN?

DON VAN SCYOC: Our plans don’t provide benefits specifically for HNW individuals. Customers are free to choose richer plans that come with enhanced benefits.

For example, Aetna International provides a country risk service through a partner called red24. Depending in the plan level, this service ranges from the provision of country risk information to physically extracting members out of hostile or dangerous situations.

The level of overall healthcare benefit also rises with richer plans. At Aetna International, our plans have annual maximums vary from US$ 1.75m to US$5m, depending on the plan type chosen.

ARJAN TOOR: If I was to take as an example, someone who bought a Platinum plan, with the highest level of cover with all available optional modules, it would have no limit amount on claims each year. Our International Health and Wellbeing additional module provides a whole raft of preventative checks, cancer and other screenings, and ways for customers to proactively manage their own physical and also mental health. This includes counselling and bereavement therapy for example.

We offer a high-touch approach to health and clinical services, which includes the ability to directly access Cigna’s global team of trained doctors and nurses (Global Health Assist), our telemedicine service (Doctor Advice Line) and our global medical second opinion service, providing access to leading clinical experts across the world who will assess your diagnoses and recommend the best course of treatment.

We also work incredibly close with our customers who have serious medical issues, ensuring that our medical team can respond to their needs and help them to manage their condition in the best possible way.

Because Cigna’s main concern is the health,

wellbeing and sense of security of our customers, what we can offer stretches further than medical assistance alone. Our Health and Wellbeing module provides ‘life management and assistance’, in other words, professionals available to offer help with any issue that’s important to you – work, life, personal or family related, we can provide counselling either over the phone or face to face. It also includes information on moving house and the logistics of this, with referrals to pre-checked local resources to help with the practicalities of relocating.

STEVE GREGORY: As mentioned, many HNW clients elect to take our Executive plan because it offers the richest set of benefits from our off the shelf product range. This includes extremely high levels of medical coverage, but also includes features such as travel; dental and optical benefits, preventative tests and checkups; alternative treatments and more generous maternity benefits. It can also provide cover anywhere in the world.

But for something that takes all of this a step further, our Empyrean Plan provides an additional suite of concierge and preventative services which are layered over the impressive insurance coverage.

These include health evaluation and optimization programme’s aimed at maintaining and improving the members health; second opinion services by world leading clinicians; online access to medical records; safety briefings and travel alerts; consulate services; tracking services for family members; personal security; and even lifestyle services, such as travel and hotel bookings; last-minute table reservations; babysitting; meet and greet services (including personal PA and chauffeurs) – even tickets to sold out shows and holiday arrangements.

In short, if money can buy it, Empyrean can arrange it.

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ROUND TABLE

Q9

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| iPMIM

LOCAL OR GLOBAL IPMI COVER: WHAT DO HIGH NET WORTH INDIVIDUALS DEMAND?

DON VAN SCYOC: It’s difficult to generalise. But local nationals able to afford international private medical insurance will often have help at home and in other aspects of their lives. Because they are used to this level of support, many will want to take advice from a broker and a concierge-type service will be appealing.

Equally this type of individual tends to be less interested in managing their own healthcare records online, preferring instead to leave this in the hands of trusted advisers.

So what HNW customers demand is influenced by their location and personal experiences. But this also varies between local nationals and expatriates living in a region.

The challenge for health insurers is to offer the flexibility of service to cater for individuals of all backgrounds and cultures.

ANDREW APPS: This will of course depend upon the travel movements of the HNW and whether they are looking to receive treatment should the need arise in a country other than the one in which they are normally living.

The key issue is the scope of coverage provided by the plan provider. Does it include access to primary healthcare? Does it include access to the best available medical facilities? What support does the plan provider offer ‘on the ground’?

ARJAN TOOR: It makes sense for the HNWIs to buy

international plans as opposed to domestic, as they typically spend more time overseas than the average consumer. They tend to travel a lot, for work as well as for pleasure, and may possibly own homes in other countries as well. Because of this, international plans will be a must, to provide protection when outside their home country – a domestic plan simply wouldn’t offer the right standard of cover, or have the flexibility to travel with the customer.

Again, we are constantly listening to our customers through our market research and continual customer engagement. Recently, feedback had shown that there was a real market for HNWIs in Indonesia, who travel outside the country to access private medical care - particularly to Singapore and Hong Kong where care standards are perceived to be higher. By identifying this gap in the market, we were able to start developing a suite of products to meet local Indonesian regulations, but with the scope to include a Travel Concierge element, within our Gold and Platinum Health products. This enables a seamless customer experience when travelling to obtain healthcare.

STEVE GREGORY: Most recognise that IPMI is more suited to their lifestyles and risk-profiles. The wealthy tend to be global citizens, they are frequent travellers so being tied to insurance in a single country is generally not appropriate for them. They want a policy that will work for them wherever in the world they happen to be – that’s obviously what IPMI is designed to do.

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ROUND TABLE

Q10

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| iPMIM

ONSHORE OR OFFSHORE: IS THERE A PREFERENCE FOR HIGH NET WORTH INDIVIDUALS?

“ I think many of our clients like the thought that their service is coming from London, there’s that feeling of reassurance and the expectation of quality.”

STEVE GREGORY HEALTHCARE INTERNATIONAL

DON VAN SCYOC: This often depends on the quality of the local healthcare. Where the available medical facilities are less modern than those in developed countries, expatriates and local nationals are more likely to want offshore products.

ANDREW APPS: HNWs understand better than most the difference between onshore and offshore products, so this is less of an issue, however local regulatory requirements may limit the choice available.

ARJAN TOOR: It In broad terms, an international insurance company provides cover for expatriates globally, an offshore insurance company writes the business in an overseas country or territory. Cigna has many local licences to support our customers wherever they are.

We work closely with local regulators in the countries where we are licensed to ensure we stay abreast of new laws, and it’s an ever changing landscape. In Dubai for example, if you don’t have

a locally compliant plan, it can have implications for your ability to stay in the country and access local medical networks.

STEVE GREGORY: We are a London based company, regulated by the FCA and with all functions handled in-house – from sales to policy administration, claims and finance. I think many of our clients like the thought that their service is coming from London, there’s that feeling of reassurance and the expectation of quality and reliability when you are dealing with HCI and our staff. Of course, we also partner with international assistance providers so that we are open everywhere in the world, 24/7 – but again the decisions and service ultimately comes from here in the UK and that’s important to many of our clients, irrespective of their financial standing.

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ROUND TABLE

Q11

51

| iPMIM

DO HIGH NET WORTH INDIVIDUALS HAVE SPECIAL REQUIREMENTS WHEN IT COMES TO MEDICAL INSURANCE AND ACCESS TO HEALTHCARE?

“We’re constantly looking at how digital technology can break down the barriers of geographical restrictions by enabling many of these features to be accessed online, or on the phone.”

ARJAN TOOR CIGNA GLOBAL IPMI

DON VAN SCYOC: HNW individuals often place a high value on annual physical and wellness benefits.

There is an acceptance that it is worth having a comprehensive annual physical, even if the tests might take a day or more. This is seen as worth the time and effort to stay in tip top shape.

ANDREW APPS: HNWs expect and demand the best and will give anything less a very short shrift.

They expect a quick response to their questions, a product that is ‘cover-all’, little or no exclusions and access to the top rated medical facilities when and where they want.

This of course all comes at a cost and HNWs are no different from everyone else – they want a bargain too.

ARJAN TOOR: Anyone can fall sick or have an accident at any time – that is why healthcare insurance is so important; it’s a safety net for when the unfortunate and unpredictable happens.

As one of the largest providers of IPMI, accessing

care through our network is easier, and is streamlined by our seamless global customer experience and features such as telemedicine, second opinion service and clinical advice team. We’re constantly looking at how digital technology can break down the barriers of geographical restrictions by enabling many of these features to be accessed online, or on the phone.

STEVE GREGORY: Yes, they buy benefit-rich policies because they don’t want to have to worry about anything other than getting better when ill-health strikes them or their loved ones. So they are not interested in having to get their policy wording out to find out what deductible or co-pay applies and they certainly don’t want to hear that the medical facility their specialist has recommended is outside of their insurers’ network or is in a part of the world that their plan does not cover.

For them it is all about freedom of choice – including the specialist; the procedure; the facility; the country and the timing.

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ROUND TABLE

Q12

53

ON A LOCAL LEVEL, WHICH CHALLENGES DO YOU FACE WHEN PROVIDING IPMI TO HIGH NET WORTH INDIVIDUALS?

DON VAN SCYOC: Language support locally becomes more important for local nationals. Being able to provide services in a local language and do it fast is a challenge but can be an important service for the member. Pre-certifications, for example, may be in the local language and will need to be acted on without delay. If these documents need to be sent to another party, costs and time increase.

ANDREW APPS: The issues can range from language, culture and availability to high quality medical facilities. For many people, it is important to be able to converse in their own language when it comes to discussing their health and any treatment that may be necessary.

This is after all a stressful time and understanding exactly what is happening and why it is important.

Culture can also cause an issue where local ways of ‘doing things’ can sometimes be alien to the HNW and cause them to question what is happening and why.

ARJAN TOOR: The main challenges relate to licencing issues mainly – these challenges apply and vary from country to country. Many regulators have very specific plan requirements. This makes it difficult to offer globally mobile customers a consistent and seamless experience as they move from one place to the next.

We offer products designed to suit you wherever you are in the world. Cigna Global is unique in that we offer a plan which is compliant with the US

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Affordable Care Act, which provides comprehensive cover.

Our close collaboration with our colleagues in our Indonesian office allowed us to create a locally compliant, global product, specifically for our HNWI customers in that territory – which is now available.

So location, local knowledge and an understanding of the political and regulatory landscape is crucial in staying one step ahead of these challenges – hence why we have offices all over the world.

STEVE GREGORY: This issues vary from country to country – they can be regulatory, legal, consular, language/ cultural – essentially you need to know enough about the various markets your clients are living in to be able to support them when problems arise, especially because these particular clients have far higher expectations of their service providers.

Beyond this, challenges can arise where our HNW clients are unable to receive the level of medical care they want in the country they’re domiciled in. In these instances it’s a case of arranging for them to receive that treatment elsewhere without having the costs to spiral out of control.

We’ve also had situations where the member has gone ahead and had an expensive treatment without seeking our approval, because they can afford to pay up-front. Trying to manage costs after the event is obviously difficult.

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ROUND TABLE

ROUND TABLE

Q13

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| iPMIM

IN THE FUTURE, HOW WILL THE INTERNATIONAL PRIVATE MEDICAL INSURANCE MARKET FOR HIGH NET WORTH INDIVIDUALS DEVELOP?

DON VAN SCYOC: In an increasingly global world, the understanding amongst expatriates that they need to take care of themselves becomes more important. Populations are getting older, and the cost of healthcare is going to go up. Many countries are dealing with funding challenges, so the rise of self-reliance and finding your own solutions to your health will come more to the fore.

ANDREW APPS: For the HNW market to be properly accessed, the plan providers really need to understand their clients. These are people who do not ‘take prisoners’. They expect the best and are prepared to pay for it, but also like a bargain. They do not want to be bothered with form filling and simply pushing everything in a mobile ‘app’ is not the solution.

Products need to be flexible without too many restrictions and the ability for the HNW to ‘mix and match’ their cover allowing them to ‘travel’ with their cover. Customer service is paramount - fast, efficient and straight forward to access 24/7. To the busy HNW, being told that ‘we will get back to you in a couple of days’ simply isn’t good enough.

ARJAN TOOR: A focal point for the health insurance industry is technology, which will open up telemedicine, online apps and on demand access to health care through digital devices, which ultimately will bring down costs.

This will be significant in helping counteract another future concern for IPMI providers – the continual rise of medical costs and inflation and the affordability of insurance. With factors such as the increase of chronic diseases, along with an ageing population and an over-utilisation of health care, the strain being placed on health services is set to intensify.

It is my hope that there can be changes made to improve, and streamline health care systems and that having a more joined-up, proactive approach will benefit the patient and keep medical inflation down. Cigna has worked hard to build stronger partnerships with health care providers and the work we’re doing in terms of our focus on digital, customer centric channels supports this in offering a more accessible, ‘on demand’ alternative to traditional health care and insurance.

STEVE GREGORY: I suppose it’s a commentary on the world at the moment, but I can certainly see a growing interest in benefits and services centered around personal security – personal protection; travel advisories; help with consular matters and the ability to get clients out of danger zones when problems arise.

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HIGH NET WORTH INDIVIDUALS NEED MORE APPROPRIATE IPMI POLICIES 4THE INTERNATIONAL PRIVATE MEDICAL INSURANCE (IPMI) NEEDS OF HIGH NET WORTH INDIVIDUALS NEEDS BETTER CONSIDERATION, ACCORDING TO JELF.

J

elf believes that understanding the requirements of such individuals and providing appealing solutions is a complex matter, and whilst they may have deep pockets they may also have high expectations of any investment. Relying on traditional mass-market health insurance policies may not meet this group’s more specific demands – ease of use, flexibility and prestige – which accompany the usual price considerations.

David Hilton, International Account Manager, Jelf International said: “On the one hand, time is a finite and valuable commodity for individuals who fall into this elite group, but on the other, they are also likely to be astute at managing their finances, which means insurers and intermediaries need to tread a fine line. There is certainly an appetite for a ‘gold plated’ healthcare solution but not without a certain due diligence on premium.”

MARKET CHANGES

Various providers have tried and failed to provide a hybrid solution between a domestic and international policy and few products are currently

on the market that meet the needs the IPMI value-adds can be worth of this internationally mobile group. considering before these individuals Those that are, provide comprehensive decide to go it alone. inpatient and outpatient treatment A combination of self-pay and without limits and can include international health insurance may prestigious benefits such as rehabilitation be an effective compromise for those in a health resort and full refund for with less of a concern for the more routine maternity. Some also ‘prestigious’ benefits – this usually complement their top-end products insures against the most significant with a concierge service to ensure a costs such as hospitalisation but hassle-free claims service and to leaves outpatient costs to the individual. avoid the individual and their family Hilton concluded, “High net worth having to spend time on tasks such individuals, whether independent or as completing forms, chasing within an organisation have special appointments and managing invoices. requirements which are often not met by standard policies designed PAY AS YOU GO for senior-level individuals. The nature and extent of the product required With many HNW individuals able to will depend on the individual’s specific pay for private treatment straight demands and needs and therefore out of their pocket, the need for IPMI a tailored solution is usually the most may be questioned. However insurers suitable – especially as there are are able to negotiate significant currently few off-the-shelf products discounts on treatments and most that would truly deliver the desired now offer second medical opinion levels of premium cover and service.” services at no additional cost. Health MOTs are also beneficial in belt-andbraces policies, allowing the individual to proactively identify any existing issues or future threats and establish an early course of action. Therefore,

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We understand that international medical insurance can at times be complicated, confusing and difficult, so our aim is to lead our clients through the process of choosing the right cover for their employees by helping identify, select and implement the health insurance plan that works both for their employees and their businesses.

By understanding our clients’ businesses and the environment in which their employees are operating, we will work to identify those insurance providers who are best able to deliver not only the range of cover benefits that our clients’ businesses require, but the service and support that they demand and deserve.

Our extensive experience and in-depth knowledge of the international private medical insurance market allows us to work together with insurers to offer pro-active support in the management of our clients’ chosen plans and to offer advice on market trends. As a leading global insurance specialist, we have been arranging high-risk and complex cover for individuals, companies and organisations throughout the world for more than 15 years.

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THERE FOR YOUR EXPATRIATE CUSTOMERS. EVEN WHILE YOU SLEEP. Be there for potential customers 24/7 with the new online AppLink quote portal from Cigna. Putting AppLink on your website lets your customers get a price and get the information they need quickly and easily. AppLink. So you can be there for your expatriate customers, all the way.

Learn more at cignaglobal.com/brokers/applink

CIGNA ADVERT

“Cigna” and the “Tree of Life” logo are registered service marks of Cigna Intellectual Property, Inc., licensed for use by Cigna Corporation and its operating subsidiaries. All products and services are provided by or through such operating subsidiaries, and not by Cigna Corporation. Such operating subsidiaries include Cigna Global Insurance Company Limited, Cigna Life Insurance Company of Europe S.A.–N.V, Cigna Europe Insurance Company S.A.-N.V. and Cigna Worldwide Life Insurance Company Limited.

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PROVIDERS

IPMI 4 CIGNA GLOBAL HEALTH OPTIONS

EST: 2011 GEOGRAPHY: GLOBAL HQ: SCOTLAND SECTOR: iPMI

+44 (0) 1475 788 682 cgi.sales@cigna.com cignaglobal.com/brokers The Grosvenor Building 72 Gordon Street Glasgow G13RS Scotland

Cigna Global Health Options specialise in providing expatriate health plans that are designed to give comprehensive overseas medical cover for people who are living and working abroad. Our core International Medical Insurance plans give you and your family cover for essential hospital stays and treatment, cancer and psychiatric care.

Maternity cover is also included in our Gold and Platinum plans. Our core plans can then be supplemented with a range of optional benefits which include International Outpatient, designed to cover outpatient treatment and prescriptions.

Cigna Global Health Options also offer International Medical Evacuation, International Vision & Dental and International Health & Wellbeing optional benefits that can be added to your core plan.

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The Next Generation Of

International Expat Health Insurance

Administered by:

www.davidshield-intl.com | ec@davidshield.com

ExpatriateCard Insurance Limited, Authorized and Regulated by

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PROVIDERS

IPMI 4 DAVIDSHIELD

EST: 2000 GEOGRAPHY: GLOBAL HQ: ISRAEL SECTOR: iPMI

+972 9 8920 920 info@davidshield.com davidshield-intl.com

Founded in 2000, with offices in Europe, North America and Israel, DavidShield is a leader in the field of expatriate health insurance.

The Company provides international medical insurance and health care management services to individuals, employers, insurance companies, government institutions and NGOs in over 95 countries.

Delivering stellar member service is at the forefront of the Company’s operation. In this effort, DavidShield is an innovator in developing new technologies that significantly enhance its member experience.

The Company is the winner of the prestigious Forum of Expatriate Management EMMA award for Innovation in Global Mobility and the paybefore award for best non-US based prepaid program.

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Healthy people drive a healthy bottom line

Healthy employees drive productivity, but managing the diverse needs of teams working internationally can be a challenge.

That’s why we’ve designed a new international health plan that flexes around individual needs. And why we provide aroundthe-clock care, whether its access to our vast network of facilities or in-house emergency evacuation services.

So, if your clients have groups of three or more employees, we can offer the protection they need, wherever they are in the world.

To find out more visit www.generali.co.uk/ggh or call +44 (0) 207 265 6444

Generali_MENA_ad_203x273_JULY_v1.indd 1

15/07/2016 06:45

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PROVIDERS

IPMI 4 GENERALI GLOBAL HEALTH

EST: 2014 GEOGRAPHY: GLOBAL HQ: UK SECTOR: iPMI

+44 (0) 207 265 6444 ggh@generali.co.uk generali.co.uk/ggh 100 Leman Street London E1 8AJ United Kingdom

Generali Global Health is the specialist international healthcare division of Generali Assicurazioni S.p.A – one of the world’s largest providers of employee benefits. We provide international health insurance to globally mobile people including expatriates, mobile employees and local nationals.

Clients are supported by our in-house, 24/7, multilingual customer service centre and more than 600,000 medical and service providers throughout the world.

Global Choice is our flagship international health insurance plan.

Designed for groups with globally mobile people, from SMEs to multinational companies. The modular design gives clients the flexibility to choose from a range of major medical and out-patient benefits as well as specialist cover options including wellness, fertility, maternity, vision and dental cover.

Benefits including evacuation and repatriation are included as standard across all plans. So, no matter which option is chosen, our members have a reassuringly comprehensive level of protection.

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A familiar name in insurance for your clients in unfamiliar situations

Travel Medical and International Health Insurance

Contact your local Blue Cross Blue Shield Representative or visit www.geobluetravelinsurance.com or call toll-free at (855) 481-6647.

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CONTACT US

PROVIDERS

IPMI 4 GEOBLUE

EST: GEOGRAPHY: GLOBAL HQ: USA SECTOR: iPMI

+1 610 254 5850 customerservice@ geo-blue.com geobluetravelinsurance.com 1 Radnor Corporate Center, 100 Matsonford Road, Suite 100, Radnor, PA 19087, USA.

GeoBlue is the trade name for the international health insurance programs of Worldwide Insurance Services, an independent licensee of the Blue Cross and Blue Shield Association.

Setting the industry standard, GeoBlue’s mission is to provide peace of mind to long-and short-term global travellers by offering competitive insurance protection and technologypowered assistance, including an elite community of thousands of carefully selected, contracted doctors and hospitals in almost every country in the world as well as its signature destination databases, mobile tools and concierge-level services.

The scope of GeoBlue’s services and technology creates a complete, reliable, convenient way to keep international travellers and expats healthy and productive.GeoBlue launched in 2011 for group products.

In 2012 GeoBlue started offering individual products.

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Global coverage, reliablity and service.

Seeking out new life and new civilisations. No matter how undiscovered and

Globality Health is the international health insurer with a special focus on expatriates. As part of Munich alien your new country may feel, DKV Globality provides you with outstanding healthcare wherever you go.

Health, we give you the strength and security of a leading global primary insurer and reinsurer. Under ÂŽ ÂŽ

With Globality CoGenio and Globality YouGenio we offer internationally operating companies and their

the Munich Health brand, Munich Re pools its primary insurance and reinsurance operations, as well as expatriate staff as well as individuals and their families flexible underwriting solutions, high-level products

related services in international healthcare business.

with comprehensive outpatient, inpatient and dental insurance cover and market leading services around the

Munich Re as a group stands for exceptional solution-based expertise, consistent risk management, globe. Plus the advantage of covering pre-existing diseases in the insurance policy. Trust in our expertise.

financial stability and client proximity. Some 40 million clients in over 30 countries place their trust in the services and security Munich Re provides.

www.globality-health.com

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PROVIDERS

IPMI 4 GLOBALITY HEALTH

EST: 2009 GEOGRAPHY: GLOBAL HQ: LUXEMBOURG SECTOR: iPMI

+352 270 444 22 11

Globality Health is the international health insurer with a special focus on expatriates.

Our approach is based on sound client portfolio management based on a longterm perspective, solid data and market expertise. The growing success of our individual and corporate plans clearly indicates that this approach is on track.

As part of Munich Health, we give you the strength and security of a leading global primary insurer and reinsurer.

Under the Munich Health brand, Munich Re pools its primary insurance and reinsurance operations, as well as related services in international healthcare business. We draw on experience gained through out the world in health insurance and reinsurance over a period of more than 80 years.

Globality Health means … contact@globality-health.com … feeling at home globality-health.com wherever you are.

13, rue Edward Steichen L-2540 Luxembourg

Over 3,000 experts at locations worldwide use this wealth of knowledge to offer our international clients innovative solutions, individual consulting and services.

Outstanding care for outstanding people. DKV Globality is the international

With Globality CoGenio® and Globality YouGenio® we offer international companies and their expatriate health insurer with a special focus on expatriates. As a member of Munich Health with more than 5,000

staff and individuals and their families, flexible underwriting solutions, high-level products with

experts at 26 locations worldwide we offer innovative healthcare solutions for clients and partners all over

comprehensive outpatient, inpatient and dental cover and market leading services around the globe.

LEARN MORE ABOUT HEALTH Call our experienced consultants at +352 270 444 2201 or visitGLOBALITY www.globality-health.com the world. As an integral part of the Munich Re Group, we give you the financial strength and security of one of the world’s leading insurers and reinsurers.

to find out more.

4Call INTERNATIONAL INSURANCE our consultants MEDICAL at +352 270 444 2201 or 4visit INTERNATIONAL HEALTHCARE www.dkv-globality.com to find INSURANCE out more.

4 INTERNATIONAL EXPATRIATE INSURANCE 4 INTERNATIONAL TRAVEL INSURANCE

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PROVIDERS

IPMI 4 HEALTHCARE INTERNATIONAL

EST: 2004 GEOGRAPHY: GLOBAL HQ: UK SECTOR: iPMI

+44 (0) 207 590 8800 enquiries@ healthcareinternational.com healthcareinternational.com

95 Cromwell Road London SW7 4DL United Kingdom

4 4 4 4

INTERNATIONAL MEDICAL INSURANCE INTERNATIONAL HEALTHCARE INSURANCE INTERNATIONAL EXPATRIATE INSURANCE INTERNATIONAL TRAVEL INSURANCE

HealthCare International capitalises on more than 35 years experience in Global International Health and Private Medical Insurance. HealthCare International is a specialist provider of expatriate health insurance, providing a wide range of health care benefits providing peace of mind for your family or personnel.

Throughout the world, the demand for first class International Health Insurance has never been greater. As social health insurance services that could once be relied upon are no longer able to keep pace with the ever increasing cost of medical treatment, so the need to make alternative arrangements has become of crucial importance, particularly to the expatriate.

For those expatriates living and working abroad, accessing the right kind of health insurance cover can turn out to be a nightmare, with the cost of medical treatment often expensive and difficult to arrange particularly in an emergency. When you or your family need worldwide medical care while you are away from your home country, the last thing you want is to find that it is costly and difficult to arrange, particularly in an emergency. That’s why having the right international medical and life insurance cover in place is more important than ever.

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PROVIDERS

IPMI 4 INTEGRA GLOBAL

EST: 1999 GEOGRAPHY: GLOBAL HQ: UK SECTOR: iPMI

+44 333 405 3003 integraglobal.com

integraglobal.com

29/30, Fitzroy Square London UK

IntegraGlobal is an international health plan provider since 1999.

IntegraGlobal is a U.K company that has service offices strategically placed worldwide in Europe, North America and Asia.

We specialise in providing health plans to organisations and individuals with unique health protection needs, such as expatriates, marine professionals and specialised risks.

Our speciality is the uncommon. And we like to apply our understanding and experience to such unique groups rather than trying to put a round peg in a square hole.

And by doing so, we are confident of developing unique international health plans that offer you outstanding protection, excellent value and hands-on unbeatable personal service.

More and more people have discovered the unique value of an IntegraGlobal International Health Plan.

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Pacific Cross is more than just insurance. Pacific Cross provides peace of mind.

Pacific Cross Insurance brings over 65 years of experience in the health and travel insurance industry to clients throughout Asia.

STANDARD INTERNATIONAL PLANS

COMPREHENSIVE INTERNATIONAL PLANS

MAJOR MEDICAL INTERNATIONAL PLANS

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CONTACT US

PROVIDERS

IPMI 4 PACIFIC CROSS INTERNATIONAL

EST: 1949 GEOGRAPHY: GLOBAL HQ: PHILIPPINES SECTOR: iPMI

Pacific Cross International has provided specialist insurance products and services in Asia for over 65 years.

Pacific Cross International has operating, administration and/or servicing entities in Hong Kong, the Philippines, Thailand, Indonesia, Vietnam and Cambodia.

The group currently provides insurance products and services for over 95,000+ people, representing 57 nationalities living in 43 countries.

+63 2 899 8001 inquiry@pacificcross.com

Pacific Cross is a leading provider of health, personal accident and travel insurance products and services to people and organizations that live and work internationally.

pacificcrossinternational.com

In 2015 the group provided travel insurance for 3 million travel days for over 300,000+ people.

Pacific Cross Center 8000 Makati Avenue 1200 Makati City Metro Manila Philippines

Pacific Cross maintains a wide Direct Billing Network of hospitals, clinics and medical facilities across the Asia Pacific region.

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Tailored insurance solutions for companies and organizations.

24/7 Reliable Support Worldwide Network Innovative Benefits

> International Health Insurance > Life Insurance > Income Protection

Call now +1 441 296 0651 or email info@wellaway.com Visit www.wellaway.com

LEARN MORE

CONTACT US

PROVIDERS

IPMI 4 WELLAWAY

EST: 2014 GEOGRAPHY: GLOBAL HQ: BERMUDA SECTOR: iPMI

+1 441 296 0651 info@wellaway.com wellaway.com

WellAway specializes in health and travel insurance for expatriates including unique health programs for foreign nationals living throughout the world. Each of our products offer an extensive set of benefits coupled with the highest standard of customer service to provide unquestionable peace-of-mind for expatriates, employers, students and global travellers.

Each of our carefully designed Expatriate Health Programs offers comprehensive health coverage coupled with a variety of wellness and support tools to help individuals and their families start their new lives abroad.

We offer a number of targeted programs catering to different demographics and market segments. These programs are some of the first expatriate plans to be approved as compliant under the Affordable Care Act.

Canon’s Ct.22 Victoria St. PO Box HM1179 Hamilton HM EX Bermuda

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International experts you can trust

As an experienced independent expert, you can trust Bellwood Prestbury to help you set-up and manage the right IPMI for individuals or companies, anywhere in the world.

Find out more at

bellwoodprestbury.com/ipmi Bellwood Prestbury Limited, 4 Imperial Square, Cheltenham, GL50 1QB, United Kingdom • +44 (0) 1242 584 558 Bellwood Prestbury Limited is registered in England no. 1100251. Authorised and regulated by the Financial Conduct Authority (www.fca.org.uk).

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iNTERNATIONAL PRIVATE MEDICAL iNSURANCE BROKERS

ENHANCED LISTING

COMPANY: Bellwood Prestbury ADDRESS: 4 Imperial Square, Cheltenham, Gloucestershire, GL50 1QB, United Kingdom. PHONE: +44 1242 584 558 WEBSITE: bellwoodprestbury.com EMAIL: info@bellwoodprestbury.com

COMPANY: Abacare ADDRESS: Greenwich Centre, 260 King’s Road, Hong Kong

COMPANY: Chase Templeton ADDRESS: 5 Arkwright Court, Blackburn Interchange, Darwen, BB3 0FG, United Kingdom.

COMPANY: ADVO Group ADDRESS: reenwich Centre, 260 King’s Road, Hong Kong

COMPANY: Cooper, Claridge-Ware Limited ADDRESS: 2201-07 Tower Two, Times Square, 1 Matheson Street, Hong Kong.

COMPANY: Anderson Health ADDRESS: #68 Lombard Street, London, EC3V 9LJ, United Kingdom.

COMPANY: April Medibroker ADDRESS: Almondsbury Business Centre, Woodlands, Bradley Stoke, Bristol, BS32 4QH, United Kingdom.

COMPANY: Ascoma ADDRESS: Avenue Clozel, Tour Notre Dame, 01 BP 7552 Cotonou, Benin Republic.

COMPANY: Bellwood Prestbury ADDRESS: 4 Imperial Square, Cheltenham, Gloucestershire, GL50 1QB, United Kingdom.

PHONE: +44 1242 584 558 WEBSITE: bellwoodprestbury.com EMAIL: info@bellwoodprestbury.com COMPANY: Brennan Health Insurance Group ADDRESS: 915 Boerderij Way, Woodstock, Illinois 60098, USA.

COMPANY: Drewberry ADDRESS: Millenium Bridge House, 2 Lambeth Hill, London, EC4V 4AR, United Kingdom.

COMPANY: Expat Assure ADDRESS: Balfour House, 741 High Road, London, N12 0BP, United Kingdom.

COMPANY: Expatriate Insurance Brokers ADDRESS: 31/F, Tower One, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong.

COMPANY: Global Albatross ADDRESS: Level 1, 5 School Road, Kaiwharawhara, Wellington, New Zealand, 6035.

COMPANY: GLOBASSURE S.M.P.C. ADDRESS: 3, Thermopylon str., Halandri 15233, Athens, Greece.

COMPANY: Global Health Insurance ADDRESS: 430 Beacon Lite #115 Monument, CO 80132, USA.

ADVERTiSE HERE “iPMI Magazine is an excellent source of in-depth information on our market and useful to a wide range of brokers, customers, insurers and service providers.”

Richard di Benedetto - President - Aetna International

NOVEMBER “As an international insurance solutions provider, our2016 focus in the development of the Care & Health plan is to create a product that is a comprehensive and portable solution for the global workforce, leaving individuals free to focus on their careers, wherever these may take them. Care & Health plays an active part in Henner’s international development and we are proud to bring the Henner quality of service to Asia with this new plan, while remaining true to our fundamental ambition of being a partner for life to our clients.” Mr. Charles Robinet Duffo, CEO, Henner Group.

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iNTERNATIONAL PRIVATE MEDICAL iNSURANCE BROKERS

ENHANCED LISTING

COMPANY: Bellwood Prestbury ADDRESS: 4 Imperial Square, Cheltenham, Gloucestershire, GL50 1QB, United Kingdom. PHONE: +44 1242 584 558 WEBSITE: bellwoodprestbury.com EMAIL: info@bellwoodprestbury.com

COMPANY: Goldstar ADDRESS: Lynton House, 304 Bensham Lane, Thornton Heath, CR7 7EQ, United Kingdom.

COMPANY: Regency Health ADDRESS: 1 Ashley Mews, Cheltenham, GL52 6LQ, United Kingdom.

COMPANY: IHC Employee Benefits ADDRESS: 80 Fleet Street, London, EC4Y 1ET, United Kingdom.

COMPANY: RDMT Consultants Pty Ltd ADDRESS: #PO Box 150, Brompton SA 5007, Australia.

COMPANY: Lonsdale & Associates ADDRESS: Deira , Maktoum Street Dubai, United Arab Emirates.

COMPANY: TFG Global Insurance Solutions Ltd. ADDRESS: #1500 – 701 West Georgia Street, Vancouver, BC V7Y 1C6, Canada.

COMPANY: J+C Budmiger GmbH ADDRESS: Englisch-Gruss-Strasse 30, Brig-Glis, CH-3902, Switzerland.

COMPANY: Xact Risk Solutions Ltd ADDRESS: 34 Lime Street, London, EC3M 7AT, United Kingdom.

COMPANY: Medisave ADDRESS: Beech House, 45 Beechland Drive, LISBURN, Co. Antrim, BT28 1HS, Northern Ireland.

COMPANY: NEW AGE Insurance Brokers L.L.C. ADDRESS: 507 Al Nasr Plaza Offices Oud Metha Road, P.O. Box 33916, Dubai, United Arab Emirates.

COMPANY: Pacific Prime ADDRESS: 18 Cross St, Singapore, 048423.

COMPANY: Premier Healthcare Management ADDRESS: 29 Dingwall Road, Croydon, Surrey, CR0 2NB, United Kingdom.

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A familiar name in insurance for your clients in unfamiliar situations

Travel Medical and International Health Insurance

Contact your local Blue Cross Blue Shield Representative or visit www.geobluetravelinsurance.com or call toll-free at (855) 481-6647.