InsurTech Launches New Technology for Brokers Looking to Target Individual IPMI Business
- Written by: iPMI Global
InsurTech for the international private medical insurance (IPMI) market, Health Compass, has announced the launch of new technology that will allow brokers’ clients to quickly quote and fulfil individual IPMI business in the majority of regions around the globe.
Alongside the only quote and compare capability that exists for international medical insurance, the API functionality (digital connector) enables brokers to provide clients with access to the Health Compass platform directly from their public website or digital communications. Health Compass will be fully white-labelled meaning a broker-branded customer journey for clients.
The technology will enable broker clients looking for individual or family IPMI cover to self-serve from the widest selection of insurer products on the market – Health Compass currently has 12 insurers on its system and some 50 products.
In just a few clicks, the platform will allow clients see a wide variety of applicable covers based on the simple lifestyle and cover requirement information they have entered, scored according to ‘quality’ using the Health Compass AI capability. Importantly, clients will be able to rely on both premium analysis and cover quality comparisons to find cover that’s right for them.
“Because of the way the system works, brokers can be safe in the knowledge that they are allowing clients to self-serve safely, knowing they will be able to easily choose the cover that best suits their budget and cover requirements. Not only this, but they continue to own the customer and take their full commissions, unlike some of the referral models that exist in this space.” said Health Compass CEO, David Eline.
“There are 80 million expats, five million international students and over 18 million high-net-worth individuals1 living globally mobile lives,” continued Eline. “Health Compass allows any broker with access to individual customers, or schemes with group leavers, who have historically been put off by what they see as complex and time consuming business, to easily trade in this huge and growing global market.”
The Health Compass Solution is custom ready for brokers who already undertake individual business and would value technology that makes their quote and compare process far more efficient and accurate. Brokers wanting to leverage their existing portfolio, where individual has previously been considered not worth the effort, will also be attracted by the platform.
The sister company, Riviera Expat, provides a wider service to brokers wishing to undertake an international strategy for the first time – enabling them to build a presence underpinned by the Health Compass Insurtech capability.
“After a long time developing and re-focusing the capability and approach, the Health Compass solution is in the perfect condition for brokers to leverage and we will be engaging heavily with all brokers in this marketplace over the coming weeks and months to showcase our streamlined and API enabled offering,” concluded Eline.
1 iPMI Report: International Health Insurance (IPMI) 2021: https://ipmiglobal.com/reports/international-health-insurance-ipmi-2021
