A NEW A NEW INSURANCE INSURANCE BUSIN USINESS ESS MODEL MODEL Why insurers and bankers have a bad image? What is missing? Coherent price Transparency Participatory spirit Mutual philosophy Modernity Ethics and Humanism
A first Project based on this new business model An innovative health insurance for expatriates of all nationalities worldwide. The product will be sold worldwide and the first phase is in Asia. With our business relationships, we can have the use of an insurance license in Thailand and in Myanmar in order establish label, record and decline thereafter the expatriate product in a purely local product. Doors can be opened in China and Singapore.
3 objectives Create the first mutual medical insurance (1st Euro or supplement to CFE) which accepts all expatriate of all nationalities Offer a new insurance with several innovations, ethical and which exists nowhere Take the lead in the global market
THE MARKET AND SEGMENT
The health insurance market for expatriates of all nationalities and all countries A market with great potential and growth • This market has more than 200 million people, • with at least 8 million American, 30 million British. • The global market is growing steadily. The growth rate is at least 5% per year. • The market potential is at least 50 billion U.S. Dollars.
And this market will continue to grow
We should target all nationalities expat
The expat categories The five large expat categories are: • 1) Employees of the • 2) Employees with a local major groups in their company and not sent by country of origin and a company based in their getting a complete country of origin package. Slower growth than the four other categories Strong increase. • 5) Students • 3) Entrepreneurs • 4) Pensioners or starting a business annuitants abroad Strong increase. Strong increase. Strong increase.
What kind of medical coverage, an expatriate is looking for? Different needs depending on the category of the expatriate Catégory 1 • An employee of a large firm will seek a comprehensive expatriate package, since he will Employee not be the payer of the insurance (and usually his employer will pay for the international of a big firm school). • Often want to optimize their own budget (being Catégories self insurers for small things) or to follow the instructions of their local employer. Many do not 2/3/4/5 seek evacuation repatriation if they live in a big city where they find good hospital facilities.
THE TARGETS OF OUR MEDICAL INSURANCE
The Targets and segments of our product • Individual expatriates (short or long term) • Companies of all sizes • Of all nationalities • All ages • All social cultural levels • In all countries • In particular contexts or not
THE COMPETITORS ON THE MARKET
Current Bid and perception of the insured Many products currently on the market are not satisfactory. • Too expensive, with too high inflation • The market actors copy each other without innovating. • Lack of transparency ("small lines") • Not often a lifetime cover • Not always a good service • Unethical • Generally not mutual or social security types (except Belgian OSSOM and French CFE)
CFE (Caisse for French Citizens Abroad = social security abroad) imperfect solution • Expensive in many configurations • Incompleteness requires mutual (often expensive) • Rarely making advance fee • With reference to the scale of the French social security, inappropriate abroad • Not flexible • Applying the scale of long stay: beyond six months, the reimbursement rate decreases.
Non-exhaustive overview of existing market players FRENCH MUTUALISTS FOR EXPATRIATES MGEN VAUBAN HUMANIS MUTUALITE FRANCAISE comp CFE only NOVALIS TAITBOUT APRIONIS MFOM comp CFE only WELCARE FRENCH MASTER BROKERS FRENCH INSURERS SOCIAL SECURITY FOR EXPATS APRIL avec Quatrem PREVINTER JP COLONNA MONDIAL ASSISTANCE CFE France AXERIA GAN AXA AXA TRANSATLANTIQUE LOSOM Belgique ASSUR TRAVEL GMC HENNER MSH ALLIANZ Tonus Expat GENERALI GAN AXA SWISS LIFE ALLIANZ France AXA MONCEY APREX GENERALI WHP AWC APREVI ACS BURDIGALA ALLIANZ France APSE ASFE PRO BTP AXA
Non-exhaustive overview of existing market players ANGLO SAXON PHILOSOPHY COMPANIES BUPA INTERNATIONAL A+ VANBREDA HCC IHI CLARIA LIFE CIGNA WILLIAM RUSSELL DKV GLOBALITY (Munich Re) HEALTHCARE INTERGLOBAL SEVEN CORNERS GLOBAL HEALTH EXPACARE IMG AXA PPP AWC INTEGRA GLOBAL ROYAL & SUN ALLIANCE AETNA GOODHEALTH NOW HEALTH GOUDA PACIFIC RBI (Lloyd's) BLUE CROSS
WHAT QUALITIES AND VALUES ARE MISSING ON THE MARKET?
Missing on the market : • A coherent price • Transparency and visibility over the long term • The participatory spirit • The mutual solidarity and philosophy • Modernity, simplicity and speed • Flexibility • Ethics and Humanism
WHAT VALUES CAN WE BRING ON THE MARKET?
Offer transparency, sharing, ethics and humanism • Coherent PRICE with medical inflation • TRANSPARENCY AND VISIBILITY ON THE LONG TERM without extravagant increase at the last minute • PARTICIPATION of the policyholders who vote on various issues • PHILOSOPHY AND SOLIDARITY through an association • MODERN, SIMPLE, FAST, Web processing, paperless • FLEXIBILITY: adjustment of the product and the price according to the customer ‘s needs • ETHICS AND HUMANISM participation in micro-insurance
Mutual and participative values Each insured is a member of the association (or trust) Each person is entitled to inspect the accounts, the overall loss, life and the evolution of the background, as well as the evolution of the contract. Each member participates in the annual general meeting and vote on electronic key points. The insurance cover will increase its premiums democratically in line with inflation and loss. The insurance cover will also increase its ceiling by the same mode.
Humanism and ethic values Covering and helping at the same time poorer people than ourself • The fund donates one hand side to create micro-insurance contracts for disadvantaged populations. • Who will cover people close to the expatriate: Local joint family or a joint House staff • Or identified by various community associations, foundations or NGOs • PlaNet Finance Group (PlaNet Guarantee) could for example do the monitoring of this function.
PRODUCT FEATURES AND STRUCTURE
2 Levels Each line has five modules The "Top unlimited" range is the high end. The "Serenity" range is the mid-range but still adequate.
THE PRODUCT AVANTAGES
100% Internet Membership Subscription entirely by internet • It includes an online medical questionnaire (with a possible veto from a consultant physician). • The signing of the subscription is electronic • There is no paper to sign. • The insurance certificate is sent via email or downloaded.
Terms of payment Premium easily payable • The amount is payable in Euro, USD or GBP • By bank transfer or from any credit card including Amex. • The periodicity of payment : - Annual - Quarterly (no fees) - Monthly (no fees)
SERVICES AND RELATIONSHIPS TOWARD THE INSURED
Claim Management Of course there will be a TPA (Third Party Authority) in charge of the third-party payment with major hospitals in the world. The insured will have a login to track their claims on the Internet.
Administrative management The insured will have a 24h emergency number. They will be connected with a back office for administrative or technical issue. Better still, the insured will have their say in participating in the life of their product.
HOW TO MAKE PEOPLE KNOW OUR EXPERTISE?
3 key fundamental Resources Direct Internet distribution • Creating a web site or portal • Smart phone (s) Application (s) • SEO Internet strategy and packaging Through a broker network • Motivating Commission system • Possible use of pre counting. And more importantly: the customers will talk in a nice way about our product • Customers are our best ambassadors
Marketing • Advertising on the internet, blog, social networks and news by email to expatriates • Advertisements in local newspapers • Contacts with embassies, chambers of commerce, associations of expatriates and expatriate women • Mailing campaigns from various databases. • Canvassing majors brokerage, broker network, internet brokers and traditional brokers. • Insured motivated by generating sponsorship for them with why not recurring commissions
AGENDA
Product launch and test phase A phased deployment • The first phase will take place in South East Asia including Thailand, but not exclusively. • Contacting simultaneously individual and SMEs of all nationalities, as well as brokers in the area. Provisional schedule of launch: 7 months J = Signature of an agreement with partners J + 3 months = Getting liege website (website, social networks and smart phone Application) J 3 months: Policy Delivery, pricing and validation process J 3: Creating legal structures J 5: Finalizing the choice of TPA J 6 months: Early agreements with brokers J 7 months: Early marketing
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