[SPONSORED CONTENT]
April International is an award-winning international health insurance provider that delivers flexible and personalised solutions to its members across the globe. Joe Thomas, managing director, April International UK, shares his thoughts on some of the most pressing issues facing our industry.
Corporate outlook and market expansion
There has been real growth in the international health insurance market in recent years, which has been underpinned and driven by a range of factors, such as an increasingly diversified audience.
Groups like digital nomads, high-net-worth individuals (HNWIs) and frequent travellers have seen an increased presence in this market.
The rise in popularity of fixed-term work contracts is also driving demand for short-term international medical insurance.
Another factor contributing to this include individuals choosing to live abroad temporarily before committing to a permanent relocation.
Popular destinations include Europe and some countries in Asia, such as Thailand and Singapore.
The Gulf region, particularly across the United Arab Emirates, Qatar and Saudi Arabia are major hubs for expats.
These locations offer attractive job opportunities in sectors like finance, technology, and hospitality, alongside tax-free income and the appeal of a luxurious lifestyle.
Africa, with its emerging markets and growing economies, is also becoming appealing to expats.
Meeting client demands
Feedback from both brokers and clients indicates that market needs are evolving.
An increasingly digitised approach can enhance efficiency and streamline healthcare access and support.
However, it’s crucial to retain the human element, as medical care is often a deeply personal issue requiring sensitivity and tact at the point of delivery.
Today, globally minded people are looking for policies that include not only traditional offerings such as outpatient and hospitalisation cover, but preventative care benefits and mental health support, which are becoming increasingly important.
The value of telehealth services meets an expectation for quick healthcare solutions from a global client base.
These offerings are especially beneficial for those living in remote locations across the world where they might not live close to a medical facility, enabling them to seek a medical diagnosis when needed in their time zone.
Leveraging technology to better assist customers is crucial for any provider’s strategy.
April International’s technological solutions, such as our award-winning Easy Pay Card and the Easy Claim app, simplify access to healthcare by offering members innovative features and ensuring a superior customer experience.
To maintain market leadership, providers need to evolve and keep pace with the times.
Regular product reviews and updates mean that a provider’s offerings remain relevant and appealing.
This incorporates developing new products to meet regional demands and adhere to regulatory compliance requirements.
Having a direct, on the ground presence helps providers stay attuned to local trends and feedback, which can then be integrated into future product and service development.
Managing costs in the face of rising healthcare inflation
Medical inflation is one of the industry’s biggest concerns, and a subject we pay great attention to.
Providers must actively be seeking ways to limit costs and keep premium increases sustainable. But they need to be careful to balance this with the responsibility of charging appropriate rates based on risk profiles and locations.
A network of international offices can give a better understanding and control of hospital networks.
In some countries, healthcare operates primarily as a business, often unregulated in terms of pricing which can lead to practitioners overcharging or recommending unnecessary treatments to extend hospital admissions.
Medical data can play a significant role in supporting members across the world in balancing the most suitable treatment with a fair price.
Larger and more established providers, such as APRIL International, have in-house teams of medical experts who are crucial in supporting cost containment.
They can challenge healthcare providers to ensure treatment plans are appropriate for members.
This approach means that medical inflation is managed effectively, keeping premiums affordable while maintaining high standards of care for policyholders.
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