The days of long-term assignments are over.
This is according to Kevin Melton, global head of IPMI at IMG, who revealed the company is working on a specific tailored short-term international private medical insurance (IPMI) solution for Latin Americans working in the US.
On the opening morning of Health & Protection’s Global Mobility and Health Summit at Easthampstead Park Hotel, when asked about how products can evolve so that providers will not have to re-underwrite every time, Melton said admitted the sector still had some way to go.
Melton maintained that while current offerings centre around core benefits, IMG is working on a product that gives some ‘renewability’.
“We’re developing something in the US at the moment that would give renewability. It’s something we’re working on,” Melton said.
“It’s more for an inbound Latin American market coming into the US in exactly those circumstances.
“It’s eight months, for example, in their home country and four, five months in the US and looking at a solution where you don’t have to re-underwrite.
“But again, you try and control that by benefit type and some of the other conditions about what is going to be covered in that.
“I think there is room to work on that. I don’t think the right solutions are there yet, but compared to where we were five years ago where there wasn’t a solution, we are going in the right direction, but it doesn’t necessarily resolve your concern at the moment.”