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

ber 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.


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