Identifying Key Distribution Channels for International Private Medical Insurance (iPMI)
- Written by: iPMI Global
In the recent iPMI Global Round Table report, Expatriate Healthcare Insurance Strategies, iPMI Global met with leaders from the iPMI market, and asked about iPMI distribution channels and their value proposition for global iPMI brokers. As always, the dialog and debate was in depth and insightful.
Iara Vilches, PassportCard: Our brokers enjoy a 1-day turn around time for all group quotations and information. In addition, producing brokers have access to our brokers portal, seeing in real time the full stock of members, their whereabouts, claims info of clients who have opted to share their medical experience with their brokers and of course commission breakdown.
We also provide our brokers with back-office consultation team that supports them to scale in performing individual sales calls to potential members.
Lourdes F. Peters, World of America: Our agents know how strict we are when choosing which insurance companies we work with. As a distribution channel, they must bring the company’s honest practices, solid financial bases, and respectful and responsible actions to their client. Our most significant value is choosing companies that meet these standards. That is why, during all these years, our commercial base has grown, and we continue to receive new advisors and insurance agencies from all over the world to work on our team after hearing about our reputation in the market.
Claire Hargreaves, Trawick International: Brokers and Intermediaries are the lifeblood of our business. Each broker/ intermediary has a dedicated relationship manager that meets with them regularly to discuss productivity, queries, commissions, general queries and importantly performance of their book and product/ propositional innovations. Brokers and intermediaries want to demonstrate the value they add to our mutual customers and without meaningful relationship management they are unable to do this. We also enjoy being challenged by them and use their insights to make incremental changes to strengthen our value proposition, therefore delivering better customer outcomes.
Ross Walker, Cigna Healthcare: Our main goal when supporting our brokers is to ensure that they have the tools and people they need to effectively support their customers. I want a broker to be able to engage with someone they know on the other end of the phone to resolve an issue or solve a customer’s problem.
I have a team of global individual business development managers with more than 100 years collective IPMI/PMI experience based in key locations around the world who regularly visit their brokers, and I myself try to connect with people as often as I can. This on the ground team is ably supported by a growing Broker Sales & Support team led by Charlie Nyren and Paul Howley out of Dubai and Scotland.
Dan Tuman, Tuman Global Solutions: There are many prominent competitors in this space. Usually, these providers are limited in scope for their offerings. Often, they only provide one solution regardless of the member’s nationality, location, job description or benefit requirements. As a wholesaler, Tuman Global Solutions knows that our broker partners require flexibility because their clients are not all the same. The broker’s role is to try and find a solution to what the client needs instead of providing the client what the broker has. The scope of our products also sets us apart.
Tuman can provide IPMI not just to individuals but also to groups. Our capabilities extend beyond IPMI, we have specialized programs for life, personal accident, and disability. Many of these programs are available via group policies for local nationals. Finally, as a multi-line international insurance provider, we can deliver property & casualty solutions in high-risk parts of the world. Providing P&C solutions for our broker partners protects them from competitors that do not have this capability.
Kevin Melton, International Medical Group (IMG): We pride ourselves on having an extremely experienced team of regional sales managers who are available to provide continual support and advice to our broker network and answer any regulatory and compliance questions our brokers may have.
Our brokers have access to an easy-to-use online portal where they can manage and view active policies and find a variety of resources and information they may need. We also offer dedicated account managers for all our small- to medium-size enterprise market clients for additional support.
With customer service centres located in the UK and U.S., all administrative functions are performed in-house, allowing us to better assist our brokers in serving customers. Our staff includes international claims administrators, handling virtually every language and currency, and multilingual customer service professionals.
Jeroen Van de Velde, Foyer Global Health: Our value proposition for global iPMI brokers is designed around a deep understanding of what brokers seek in a partnership, ensuring we provide the most sought-after services and support to facilitate their success. Recognizing the pivotal role brokers play in connecting expatriates with suitable healthcare coverage, we’ve tailored our offerings to meet and exceed these expectations, including:
- Comprehensive and Customizable Products: Brokers are looking for a range of products that can be tailored to the diverse needs of their clients. Our portfolio includes top-tier, comprehensive health insurance solutions that cover everything from routine healthcare to complex medical needs, ensuring brokers can offer a perfect fit for each client.
- Technology-Driven Solutions: In today’s digital age, brokers value platforms and tools that simplify the end-to-end insurance process—from quotes to claims. We provide state-of-the-art digital tools that enhance the efficiency of selling and managing policies, making it easier for brokers to serve their clients effectively.
- Competitive Commission Structures: Attractive commission plans are critical for brokers. We offer competitive, transparent commission structures that reward brokers for their hard work and dedication, ensuring a mutually beneficial relationship.
- Marketing and Sales Support: Understanding the challenges of navigating the global health insurance landscape, we provide robust marketing and sales support to our brokers. This includes access to detailed product information, marketing materials, and training sessions to equip brokers with the knowledge they need to succeed.
- Responsive Customer Service: Brokers need to know that their clients will receive top-notch service. Our multilingual customer support team is available around the clock, ensuring brokers can confidently promise their clients prompt and effective assistance whenever needed.
- Global Network Access: Access to a comprehensive global network of healthcare providers is paramount. We offer an extensive network of medical professionals and facilities worldwide, giving brokers the confidence to assure their clients of high-quality care, wherever they are.
By aligning our services with the needs of global iPMI brokers, we ensure that they have the products, tools, and support necessary to meet the evolving demands of their clients. Our commitment to innovation, coupled with a focus on building strong, supportive partnerships with brokers, makes us a preferred choice in the international private medical insurance market.
Dr Christopher Percival, iPMI Expert: Product training and communication is vital to building and retaining excellent broker relationships as well as onboarding new brokers and introducers. Relationship management of this is perpetual and builds credibility and market trust for the provider.
Related Reading: Expatriate Healthcare Insurance Strategies Round Table
Editor’s Note: The above answers are published in a random order.
