Dublin, April 08, 2019 (GLOBE NEWSWIRE) -- The "International Health Insurance 2019 - International Health Insurance for Expats, Third Country Nationals, Domestic Nationals and Global Nomads: Volume One - Overview" report has been added to ResearchAndMarkets.com's offering.
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 will increase
- IPMI and PMI are no longer separate
- Locals, students and NGO workers need cover
- Many more countries are making health insurance compulsory
- Healthcare and health insurance are becoming intertwined
- Top up cover and micro health have massive potential
- Technology will change how insurers, brokers and customers interact
International private medical insurance is flourishing. There are more globally mobile individuals than ever before - and employers are building businesses in more diverse countries.
IPMI was traditionally considered an exclusive health insurance plan for expatriates. Now, the definition of an expatriate is obsolete because more people, including local nationals and expats, regularly travel internationally, due to their lifestyle, income and careers.
These people need international medical insurance irrespective of their national status or residency. Local nationals, expats, and global nomads are driving demand for IPMI products well beyond any residency classification.
The globally mobile population has grown dramatically along with the increased global business. There are 66 million expatriates, and by 2020 this will be 87.5 million. 260 million people now live away from their country of birth and within a decade the total number of expatriate workers and international students will be 100 million.
IPMI as health insurance without borders is the future of health insurance for all people irrespective of their country of nationality, residence or current domicile. The domestic health insurance market is changing and expanding in many markets around the world. Technology, innovation in health treatment and digitisation of processes are also powerful shapers of the future of health insurance.
Compulsory insurance, voluntary top-up covers, differences between what you can sell to locals and expatriates, rules on overseas investors, compulsory local partnerships, economic sanctions, and even local politics are all things that insurers and brokers must understand- as are newer factors of controls on insurance and healthcare prices, and recent compulsory health insurance rules for travellers or students.
There have been several new entrants to the global healthcare insurance and ancillary services market, long dominated by a small handful of existing insurance companies. Regional insurers and brokers are active in the sector.
The focus on wellness and the proactive approach of keeping customers healthy is a key change. The focus is health insurance, not just illness insurance and, proactively engaging with customers to help them lead long and healthy lives.
Technology is changing the market, with access to information and care through mobile applications and innovations such as virtual health, telemedicine and virtual GP services. Data will also drive more accurate underwriting and wellness solutions at an individual customer level. The days of the fully personalised cover are not far off.
IPMI must comply with local laws and regulations and local needs that differ considerably from country to country.
The researcher has been analysing the sector and writing reports on IPMI for 30 years, so can insight beyond reports that take everything at face value. He still gets surprised at the rate of change and new directions IPMI is moving into.
Key Topics Covered:
1. Introduction
- Overview
- Growth of need for IPM
- Health insurance definitions
- Expatriate definitions
- Voluntary health insurance
- Why IPMI and PMI are no longer separate
- Social and technological disruption
- Duty of care
- Why insurers are moving into PMI/IPMI
- The changing insurance ecosystem
- Customer centricity
- Blockchain
- Emerging markets
- Belt and Road initiative
- Middle East and North Africa
- Asia
- IPMI must cover more than insurance
- The future
2. International health insurance numbers
- Global premium figures
- Onshoring and offshoring
- Premium retention in countries
- Premiums and local taxes
- Local partnerships
- Muddying the waters
- It is not health insurance
3. Health insurance
- Compulsory health insurance
- Health insurance market potential
- Global medical price trends
- Health insurance pricing trends
- Global health insurance price and trends
- Health insurance and universal healthcare
- Global benefits
- Digital transformation
4. Healthcare
- Health at a Glance Europe 2018
- Global healthcare
5. International health insurance market
- Buying the market overseas
- Distribution
- Healthcare or health insurance
- History
- Market potential
- Hospitals offering health insurance
- Numbers of insurers
- Insurance companies
- Latin American healthcare potential
- Lloyd's of London
- Lloyds' brokers
- Managing general agents
- Third party administrators
- Insurance brokers
- Financial advisors
- Insurance agents
- Banks
- Health insurance trade bodies
- Health insurance comparison sites
- Micro-insurance
- Mobile devices
- Self- insurance
- Smartphones
- Social media
- Videos
6. International health insurance products
- Cover
- International insurance versus domestic insurance
- IPMI in 2019
7. Expatriate numbers
- Expatriate figures
- Global number of expatriates
- Global population
- Expatriates, migrants and refugees
- Global mobility
- Expatriate population as % of the worldwide population
- Expatriate or international migrant
- Refugees and expatriates
- International students
- Migrant workers
- Cross border workers
- Diasporas
- Migration and health
8. Customers
- Target markets for insurers
- What is an expatriate?
- Expatriate characteristics
- Expatriate salaries and benefits
- Buyers
- Dependants
- Emerging markets middle class
- Generation Y
- More than one product
- High net worth
- How people choose international health insurance
- Indian companies
- Maritime
- Mining
- Music industry
- NGOs
- Need
- Oil and gas
- Overseas employees need support
- Questions potential customers ask
- Retirees
- Self-employed
- Short assignments
- Short-term cover
- Singles
- Students
- Target ages
- Teachers
- Wealthy expatriates
- Who can be covered?
- Why companies buy it
- Why individuals buy it
- Why needs are changing
- Why not just buy cover locally
- Women
9. The product
- Addiction treatment
- Admitted policies
- Apps
- Big data
- Budget covers
- Cancer
- Chatbots
- Choice of cover or set packages
- Claims
- Compliance with local law
- Co-payments
- Critical illness
- Currency
- Danger zones
- Diabetes treatment
- Diaspora insurance
- Duty of care
- Emergency assistance
- Emergency evacuation
- European Air Medical Institute
- Fertility treatment
- Fraud
- Funeral plans
- Global cover
- Helplines
- Income protection
- Insurers rethink of health insurance
- International medical accreditation
- Medical evacuation and repatriation
- Medical tourism and insurance
- Medical travel insurance
- Mental health
- Micro health insurance
- Obesity treatment
- Organ transplants
- Passive war
- Political risks
- Pricing
- Price regulation
- Pricing on group schemes
- Private repatriation
- Risk management
- Second medical opinion
- Security and travel advice
- Takaful
- Takaful health
- Telehealth
- Term life
- Top up covers
- Travel insurance
- Underwriting
- Virtual doctors
- War risks
- Wearables
Companies Mentioned
- Lloyd's of London
For more information about this report visit https://www.researchandmarkets.com/research/mbk4x4/international?w=12
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