Navigation Links
Bupa International Growth in China Leads to Drop in Premiums for Pacific Prime SME Clients
Date:5/30/2013

Hong Kong (PRWEB) May 31, 2013

Pacific Prime’s SME clients can look forward to lower premium rates as Bupa International have announced further discounts on standard premiums for their Company plans in China.

Bupa Intl are focussing on increasing their already growing market share in Asia and believe that reducing the premiums of their SME plans in China by 30% across the board will help to show their commitment to the region.

Both Pacific Prime and Bupa International anticipate a very positive response from this new offer as clients will now be able to receive some of the highest level of coverage available, with a market competitive premium.

Bupa’s individual plans have already performed well in Asia but this move to reduce SME premiums is an attempt to gather more Chinese companies as clients. The insurer is highly confident that this premium reduction will help continue to build their SME portfolio that has been so successful for them in other parts of the world.

Currently, Bupa offers three basic plan options on their company insurance plans; Essential, Classic and Gold plans. Whilst these plans are exceptionally comprehensive in their coverage, Pacific Prime believes that they could be even more successful if they had the ability to tailor benefits.

Chinese businesses looking for insurance plans for SME groups tend to favour customisable plans which have the ability to e.g. limit a plan to a specific region of China or to a group of hospitals. Pacific Prime analysts are of the opinion that plans which are more catered specifically to China and Chinese clients have been more successful in the region.

A number of Chinese companies are requesting that the geographical coverage of Bupa’s policies be reduced to just China (as opposed to international coverage).This will reduce the cost of premiums for SME companies, however Pacific Prime do not believe this strategy to be beneficial overall.

Firstly, as China has some of the most expensive healthcare and hospitals in the world, the premiums for coverage in China alone are already high, and so the total cost is not that significantly reduced. Secondly, the large percentage of expats in the workforce in China often want to receive healthcare in their home countries due to the comfort of familiar language and culture, which would not be possible under these China only SME policies.

As an alternative, Bupa could tailor plans to restrict or prohibit cover at facilities that have higher than average costs of treatment (High Cost Providers - HCP). If policyholders want to receive treatment at these HCPs then they can do so under a co-payment policy whereby they pay 20% of the treatment costs.

For Bupa to maximise their growth in China, they must remain competitive with other insurers in the SME market. To do this, Bupa have already taken a significant step in reducing premium costs, and must also offer more flexible options for their clients’ plans in China for future success.

Read the full story at http://www.prweb.com/releases/bupa-international-reduce/plan-premiums-in-china/prweb10753897.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. International breast health global summit will focus on supportive care and quality of life
2. International conference to explore health of descendants of transatlantic slave trade
3. Kessler Foundation researchers present at first International Congress on Cognition in MS
4. Internationally known expert in ovarian cancer to be honored at the ASCO Annual Meeting
5. Nobel laureate to keynote international pharmaceutical conference at URI
6. International Nanomedicine Conference bound for Sydney: July 2-4, 2012
7. June 2012 marks a milestone for International Urogynecology Associates as Dr. Robert D. Moore and Dr. John R. Miklos perform their 24th Neovagina Surgery in 24 months
8. Heavy Duty Alternators and Starters Expert Elreg Distributors Ltd. Meets Needs of International Market with Launch of Spanish Website
9. The US Drug Watchdog Now Urges Plaintiffs Law Firms Worldwide To Contact Them About A Possible International Effort To Help Victims Of Defective Drugs Or Medical Devices
10. RMAX International to donate Recuper8 - a free, health - restoring program to Everyone in Uniform
11. International symposium on veterinary rehabilitation and physical therapy to be held in Vienna
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating ... many ways they remain in the eye of the beholder, according to experts who ... of The American Journal of Managed Care. For the full issue, click here ...
(Date:6/26/2016)... Orion, Clarkston, Michigan (PRWEB) , ... June 26, ... ... with respect to fertility once they have been diagnosed with endometriosis. These women ... intercourse but they also require a comprehensive approach that can help for preservation ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding emergency ... its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. Ogunleye ... M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. Ogunleye ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article ... are unfamiliar with. The article goes on to state that individuals are now more ... these less common operations such as calf and cheek reduction. The Los Angeles area ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced ... attorneys chosen by their peers for this recognition are considered among the top 2 ... received special honors as members of this year’s Legal Elite Hall of Fame: ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... Market by Type (Standard Pen Needles, Safety Pen Needles), ... (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) ... MarketsandMarkets, This report studies the market for the forecast ... to reach USD 2.81 Billion by 2021 from USD ...
(Date:6/23/2016)... , June 23, 2016  MedSource announced ... as its e-clinical software solution of choice.  This ... best possible value to their clients by offering ... The preferred relationship establishes nowEDC as the EDC ... for MedSource,s full-service clients.  "nowEDC has long been ...
(Date:6/23/2016)... a startling report released today, National Safety Council research ... proven plan to eliminate prescription opioid overdoses. Prescription Nation ... tackling the worst drug crisis in recorded U.S. history, assigned a ... , New Mexico , Tennessee ... failing states, three – Michigan , ...
Breaking Medicine Technology: