Introducing State of Health Insurance in Singapore Report 2018-2019

Pacific Prime Singapore is pleased to announce the release of the State of Health Insurance in Singapore Report 2018-2019. In its 2nd edition, the report highlights the top trends, changes, and issues facing the International Private Medical Insurance industry in the Lion City. Both individual and corporate audience can benefit from the report, as it pertains to a wealth of information on trends and issues facing those groups when it comes to health insurance.

Get your free copy of State of Health Insurance in Singapore 2018-2019 today under this link, or stay with us and read the summary below.

About Pacific Prime’s State of Health Insurance in Singapore Report

This year’s State of Health Insurance report includes sections on trends that are being seen in the global insurance market, as well as key findings and overall commentary on the current global medical insurance landscape. In particular, the State of Health Insurance Report brings answers to the below questions often asked by our individual and corporate clients:

• What is the cost of international health insurance?
• How much have premiums increased by?
• What are developing trends and insurance industry changes being seen globally?
• What are the top insurance issues faced by individuals and businesses?
• How has Pacific Prime developed in 2018?

An interesting addition to this year’s edition of the SOHI Report is a Q&A session with the leading international insurance companies: Aetna, RHI & Bupa Global, and Cigna. Representatives of these companies share the latest insurance trends as seen and embraced by the insurers themselves and share insight into adapting to those changes.

Key findings of the State of Health Insurance in Singapore Report 2018 – 2019

This year’s State of Health Insurance in Singapore Report focuses heavily on presenting a global, macro view of the health insurance landscape. Our panel of experts, together with insurance partners, has identified the most significant changes and trends to the insurance market worldwide, which are as follows:

• Increased regulation
  The largest global compliance change that influenced the insurance industry was the implementation of the GDPR.
• Continued inflation
  Increased demand for private healthcare services eventually leads to increased medical costs, which, in turn, inflates IPMI premiums.
• More flexible employee benefits
  Flex employee benefit plans allow employees to design their own benefits plans within the company budget and a specified network of providers.
• The rise of insurtech
  Technology such as AI comes along well with insurance streamlining processes for both insurers and policyholders.
• An ever-increasing focus on client experience
  Only prices are not enough to attract and retain clients in 2018. Insurers are adding innovative benefits to their product range to ensure positive client experience.
• Clients demand simpler products
  Insurers now stand before a challenge of offering products that are flexible and versatile but at the same time simple, intuitive, and user-friendly.
• Insurers making sure clients are better informed
  Transparency and education of products via reports, guides, and apps have been on the rise in 2018.

Download your FREE copy of our latest report today

The above list refers to only some of the key findings included in the State of Health Insurance in Singapore Report 2018-2019. The overview of the major changes in the global health insurance industry in 2018 is just an entree of what’s included in our report. To find out more about these findings in detail, as well as the top insurance issues faced by individuals and businesses in Singapore, get your free copy of Pacific Prime’s State of Health Insurance in Singapore Report 2018-2019.  

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Serena Fung

Senior Content Creator at Pacific Prime Singapore

Serena Fung is a Senior Content Creator at Pacific Prime, a global insurance brokerage and employee specialist serving over 1.5 million clients in 15 offices across the world. With 2+ years of experience writing about the subject, she aims to demystify the world of insurance for readers with the latest updates, guides and articles on the blog.

Serena earned her Bachelor’s Degree in Psychology from the University of British Columbia, Canada. As such, she is an avid advocate of mental health and is fascinated by all things psychology (especially if it’s cognitive psychology!).

Her previous work experience includes teaching toddlers to read, writing for a travel/wellness online magazine, and then a business news blog. These combined experiences give her the skills and insights she needs to explain complex ideas in a succinct way. Being the daughter of an immigrant and a traveler herself, she is passionate about educating expats and digital nomads on travel and international health insurance.

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