About Pacific Prime’s State of Health Insurance 2019-2020 Report

Our most recent edition of the report takes a deep dive into the implications that technology, economic upheavals, and changing demographics will have on the health insurance industry.
By keeping a watchful eye on changes within the industry, the 2019-2020 State of Health Insurance Report takes a close look at the global, regional, and country-specific drivers and challenges that the health insurance industry is currently facing.
The report, which is presented in a way that’s easy to understand and absorb, starts off with a short introduction from Pacific Prime’s CEO and Founder, Neil Raymond, and is followed by the sections below:

Changes and trends shaping the global health insurance industry

The shifting risk landscape
Major healthcare challenges and trends
Healthcare insurance inflation
Technology increasingly takes center stage
Changes and trends shaping the global health insurance industry
Pacific Prime - Regional health insurance trends across five continents
Europe
The Americas
The Middle East
Asia-Pacific
Africa

Regional health insurance trends across five continents

Asia-Pacific

  • Insurtech takes center stage
  • Lack of mental health coverage in group policies
  • Population-related trends and challenges in the region

The Middle East

  • Mandatory health insurance legislation
  • Overprescribing trend

The Americas

  • California Consumer Privacy Act
  • The 2020 US presidential elections
  • Aging population

Europe

  • Impact of the GDPR law
  • Impact of Brexit on UK firms

Africa

  • Potential for health insurance growth
  • Mobile technology to increase prospects

Updates from Pacific Prime

We end the report by highlighting the latest and most noteworthy updates from Pacific Prime in 2019-2020.

What is the state of health insurance
in Asia-Pacific (APAC)?

Asia-Pacific is one of the most diverse regions in the world. This means that there are a myriad of issues and trends that have been appearing in the past few years. All in all, the following are the key development trends in the Asia-Pacific region:

Insurtech takes center stage

Insurers in the APAC region are particularly fast to incorporate new technologies when delivering services to their clients. From the blockchain boom in mainland China to virtual insurance companies in Hong Kong, the region is ahead of the curve when it comes to insurtech. The most noteworthy insurtech developments that can be expected in the coming years include:
New apps and digitally-enhanced customer experiences
New apps and digitally-enhanced customer experiences
New technologies that enhance underwriting processes
New technologies that enhance underwriting processes
Download your free copy of the report to find out more about the key insurtech trends in the region.
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Pacific Prime 2019-2020 State of Health Insurance Report

Lack of mental health coverage in group policies

Employers in markets such as North America and Europe appear to be more knowledgeable
in terms of the adverse effects of employees with mental health issues. The recognition of mental health
as a serious public health issue has been slow in the region, and this is reflected in the lack of mental health coverage in group policies.
Small group policies lack mental health benefits
Small group policies lack mental health benefits

Mental health benefits are included in just 39% of small group policies, which cover 50 employees or less.

Lack of insurers offering mental health coverage
Lack of insurers offering mental health coverage

Only around half of Asia-Pacific insurers cover mental health conditions for large corporations with more than 500 employees, with little to no indication that this will significantly change in the near future.

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Pacific Prime 2019-2020 State of Health Insurance Report
People today are more digitally connected than ever before and continually seek simplicity, flexibility, and affordability. Individual health customers are no different; they choose plans that are tailored to suit their individual needs and plans that are accessible and easy to understand.
Patrick Graham, CEO of Asia Pacific at Cigna

Population-related trends and challenges vary across the region

The demographic makeup of countries in the Asia-Pacific region range from one end of the spectrum to the other. While countries like Japan and South Korea are coping with aging populations, Indonesia and Vietnam are preparing for the rise of digitally savvy millennials and Gen Zs.
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What is the state of health insurance in Thailand?

What is the state of health insurance in Thailand?

Our report offers a thorough analysis of the key trends and issues influencing
Thailand’s health of insurance landscape, among which the main ones are:
New mandatory health insurance regulations
New mandatory health insurance regulations

The growth potential in Thailand’s expat health insurance market continues to be strong, especially after health insurance has been made mandatory for foreigners aged 50 and above applying for long-stay visas.

Increased utilization of technology in health insurance offerings
Increased utilization of technology in health insurance offerings

Thailand is at the forefront when it comes to integrating technology in health insurance offerings. The country’s sophisticated healthcare sector has been fast to implement telemedicine services, pushing health insurers to also offer telehealth benefits plans and claims apps online.

Cigna enters the onshore market
Cigna enters the onshore market

As the newest big player to join the onshore market, Cigna’s presence comes at a time when demand for quality advice is on the rise. Additionally, having another key player onboard gives corporate insurance buyers another desirable option.

Download our report for a complete look at the state of health insurance in Thailand.

Download The State of Health Insurance Report

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