From October, AXA – Global Healthcare is enhancing its existing iPMI plans to include key offerings such as the International Health Plan, and Global Protect Health Plan in Hong Kong.
Key changes include:
* Overall policy limit – this has been increased on the Standard and Prestige Plus plans.
* Outpatient combined limit – treatment cost varies by country and on the Comprehensive and Prestige plans, the outpatient limit has been increased. This covers diagnostic tests as well as physiotherapy, and visits to a doctor.
* Ambulance transport – the limit for ambulance transportation has been removed across all levels of cover. Based on market analysis, AXA says it identified this as a key area of improvement for customers.
* New excess options – two higher excess options on the Standard plan without outpatient cover have been introduced. AXA points out that this option can also help manage premiums for any individual customers who are concerned about price increases.
* Drugs and dressings benefit – the drugs and dressings limit on Comprehensive and Prestige plans has been increased.
The product enhancements also cover country-specific plans, including the Global Protect Health Plan, available to large corporate customers in Hong Kong. In addition, AXA now sends SMS text messages to customers on claims and admin, so saving customers’ time and improving clarity.
What They Say
Director of sales and marketing Kevin Melton said: "We’re always reviewing our global health insurance propositions to make sure we can offer our customers the service and cover they need to live their life to the fullest. The global healthcare market is always evolving, and that’s why we’ve updated our proposition to ensure it can better meet the needs of our customers, wherever they are in the world.
"Whether they want a comprehensive health plan or cover in an emergency, we hope that these enhancements will provide the extra flexibility our customers require, so they have complete confidence in their plan.
"These enhancements, along with the our core offerings which include a second opinion service and evacuation and repatriation as standard, mean that customers can rest assured that with AXA, we’ll be there to help them whenever they need us."
What We Say
"AXA PPP is one of the bigger players in iPMI and these enhancements are the result of it both listening to clients and brokers and also looking again at what its competition is doing.
"Most of the changes are relatively minor, but nevertheless welcome. For example, the two new excess options on the Standard plan not only offer more choice but may also be the solution for clients concerned about the rising cost of their iPMI plan. A larger excess means a lower premium in exchange for taking on an affordable extra risk yourself.
"Similarly, applying a road ambulance financial limit was an irritation, so removing it now gives AXA an advantage.
"Overall, such product housekeeping is useful – one of the few downsides being that it becomes ever more important to keep up-to-date with developments as they are introduced."