IPMI provider and AXA Healthcare CEO, Tom Wilkinson, has highlighted three key trends impacting the IPMI sector globally: increasing health regulations in different markets; FinTech innovation; and tele-medicine
Speaking to Life Insurance International publication, Wilkinson said one impact for insurers of more health regulations can involve needing to work with a partner that is compliant with each expat destination.
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Wilkinson said he was optimistic about the outlook for the IPMI market, but warned there is a lot of potential for disruption in the IPMI market from digital-based players because of all the data they hold.
Wilkinson’s comments came as research from AXA in its said 98% of big businesses surveyed say a globally mobile workforce is important, with a third saying it is critical to their success.
The research found when it comes to pay and benefits, staff most want to have accommodation paid for; followed by international health insurance (covering more than one country) and income protection.
Three-quarters (75%) of the international workers questioned said they get health insurance paid for by their company, with more than two thirds (67%) of ex-pat workers saying they rely on health insurance to cover their health needs while they are abroad.
According to the research, the top five benefits staff look for from their employers when being sent on international assignment:
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- Housing support (61% )
- International health insurance (55%)
- Flights home paid for (52%)
- Education support for children (45%)
- Protection insurance (41%)
For all the latest insight, news and data on the global life and health insurance and reinsurance markets, visit www.lifeinsuranceinternational.com
