Two major international private medical insurance (IPMI) providers have at least one million members, Health & Protection’s latest IPMI Report has found.
Data published from two of the largest IPMI providers for the first time – Cigna International Healthcare and UnitedHealthcare Global – gives greater context to the market’s scale, accounting for more than two and a half million members combined.
Cigna International Healthcare reported more than 1.7 million international customer relationships while UnitedHealthcare Global is estimated to have one million international members.
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As part of Health & Protection’s research, eight major IPMI providers also gave their views on the state of the market and the critical issues affecting it.
Providers told Health & Protection they expected premium inflation and claims to continue rising significantly over coming years although there was hope this could start to be mitigated.
A majority of providers believed premiums would continue growing steeply by at least 10% over coming years.
Likewise claims figures were almost universally expected to increase among providers with cancer, mental health and weight-loss medications among those most prominently highlighted.
Matching adviser responses, premium inflation and cost management were acknowledged as the biggest concern and greatest challenge across the sector for both providers and intermediaries.
The full report includes all findings from the intermediary and provider research.
Download the IPMI Report by following this link or clicking on the front cover image below.
