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Bupa International launches cover for expats in Singapore
21 May 2008
Expats in Singapore can now buy international private medical insurance (IPMI) from the world’s largest expatriate insurer, Bupa International, thanks to a partnership agreement with Singapore-based International Medical Insurers (IMI).
Singapore represents one of Asia’s main international business hubs and is home to around 550,000 expatriates, representing some 12% of the population, as well as a large number of high net worth nationals. Bupa International has been looking to enter the market for some time to provide corporate and individual customers with IPMI products tailored to their needs.
Thanks to its new partnership with IMI, Bupa International's IPMI products are now available in Singapore in line with local legislation. Under the new agreement, Bupa International’s policies will be dual branded – carrying both the Bupa and IMI names – and IMI will collect premiums locally from customers.
Bupa International will keep responsibility for ensuring that Singapore-based customers receive the same high quality service experienced by the company’s 767,000 customers around the world and will look after underwriting, enrolling members, paying claims and all customer enquiries.
Ray Bond, Head of Sales for Asia Pacific at Bupa International said: “As an international business centre, Singapore is home to a very large community of expats and offers huge market potential for IPMI sales. We have been looking at the market for some time and in IMI, we have found a partner who can help us deliver products that will meet the specific needs of expats living and working in Singapore, as well as individuals who are looking for international healthcare cover.”
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