03/26/2014

New Global Centre

Asia could become the global centre of international health insurance in the eyes of now Health International's CEO Martin Garcia, Asia could become the global centre of international health insurance as the continued overseas investment pouring into China is contributing to the rapid growth of the Asia IPMI (international private medical insurance) market. Following the financial crisis, mature businesses in Europe and the US are finding themselves moving to Asia to help capture new growth areas. Now Health International recognises the huge potential of the IPMI market in Asia and made a conscious decision to establish its international headquarters in Hong Kong for this reason. According to business traveller Asia-Pacific, the number of American business travellers to Hong Kong increased by 26% in first half of 2010; those from South and South East Asia increased by 35%; North Asia, Australia, New Zealand and South Pacific by 16%. Organised in Hong Kong month alone last there were seven trade shows, which attracted over 120,000 overseas buyers from 170 countries and China. While this data shows the robustness of short trip business travel to Hong Kong, they do not include the significant volume of business travel in Asia nor medium to long-term assignments led by senior executives outside their home countries. For these travelers living in an increasingly globalised world, international travel insurance and general medical insurance are generally not enough to meet their needs.

IPMI is their only viable alternative for consistent global cover. Huge potential in Asia now: Health's CEO Martin Garcia stated that IPMI is generally a high end product. Target customers include middle class business travellers and senior executives of international corporations. The primary objective is to provide medical insurance cover for them and their family members anywhere in the world. For example, if a British executive living Viet Nam finds that he has heart disease and needs surgery.
Mar 26, 2014 4:41:52 AM

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