The global high-net worth population is changing and so are their needs, Health & Protection’s Health & Protection’s Global Mobility and Health Summit has heard.
Cigna Healthcare head of individual broker sales in the UK and Europe Steven Martin (pictured left), said there are more investors, innovators and entrepreneurs among their wealthy clients these days.
“Their expectations of an enhanced medical insurance solution are way stronger than we have ever had before, so we have had to innovate there,” he said.
This has also been witnessed by Virginie Josten, key account manager at SIP Medical Family Office (pictured centre).
“A few years ago, when I started in the IPMI industry, we took requests from clients aged between 40 and 50 who wanted a medical solution for them and their families,” she said.
“Now we have requests from individuals aged between 25 and 30, who are looking for a better life somewhere else,” she added.
Adalberto Pucca, head of global mobility solutions at Global Citizen Solutions, (pictured right) said this was becoming a more dynamic market to work in.
“It is not one-size-fits-all anymore,” he added.
“We need to come up with strategies that meet people where they are in their lives.”
One of the biggest factors when deciding on a jurisdiction to relocate to is access to good healthcare.
“The biggest risk we see is access to reliable healthcare,” Pucca said. “That is ultimately what our clients are looking for and inform the jurisdictions they ultimately select.”
Martin said this was no longer just an issue of location.
“People want options; where can I take my family, where can I move my wealth, where can I get the same level of service, lifestyle and healthcare?” he continued.
“Asia is back on the map with people who are thinking about leaving the UAE or not going to the UAE in the first place.”
Pucca added that high-net worth individuals are more aware that everything can change and can change fast.
“What they are looking for from their broker is advice on how the solution they are taking now could impact their future.”
