Playing away

The expatriate community is set to grow according to research. The 'International Expatriate Salary Management Survey' showed that 55% of participants anticipated that their expatriate workforce will increase in the next three to four years. One of the key areas fuelling this growth is small to medium-sized enterprises, often daughter companies of larger corporates, set up to serve particular markets with groups of skilled expatriate workers.

These workers are a company's primary asset. It follows that employers should be interested in the health of their employees, either because of an altruistic motivation of genuine concern for its personnel, or a question of economics.

To remain competitive, companies must respond to developing opportunities. As a result, the last thing they need is for an important link in the chain to break. Such a link is the health and safety of the employee. Small international businesses such as those in the financial sector, the oil and gas industry and in law, are increasingly recognising the benefit of securing the basic resource as comprehensively as possible ' with minimum cost and administrative involvement.

Business benefits

Increasingly, advisers are offering private medical insurance (PMI) to small and medium-sized companies, as their clients recognise the importance of investing in their health. Not only is the physical well-being of the client taken care of, but a higher standard of healthcare is likely to result in less time off work, thus protecting the earning capacity of the individual and the overall profits of the company.

Developments in the company market have induced a number of insurers to achieve greater levels of responsiveness and customer service. To help customers and advisers worldwide gain instant access to information, services and help there is greater use of the internet. Innovations in managed care to reduce healthcare costs worldwide, networks of partner medical providers, specially tailored schemes with ancillary benefits and company-specific cost controls demonstrate the continuing growth in this market.

High quality international insurers recognise the importance of the role of the adviser. Some PMI providers now offer specialist services to intermediaries in order to increase relations between the two parties and, in turn, simplify the selling process, making everyone's job easier and more profitable.

The top quality insurers now have intermediary sales and support teams. Sales and marketing tools can be provided along with advice and assistance in order to help the broker get the most out of their role.

Dedicated intermediary websites have also been created by some international insurers, proving that the role of the broker is valued and an extremely important business channel. Websites offer sales tools, online quotations, full product details, online registration forms and product literature, with a view to enabling the broker to carry out their role almost entirely on the web. This culminates in better customer service and satisfaction.

Advice is key

However, the market for PMI is becoming increasingly varied and often more complicated ' this is one reason why more and more people are turning to advisers to provide them with the most appropriate products and services. Advisers can guide customers through the international PMI market, which can be invaluable for international or expatriate customers.

Employees usually rank healthcare coverage as the most important of all employee benefits. Yet, it is also an attractive benefit for many employers. By pooling risk, businesses can purchase health coverage at a much lower cost than individuals.

There are a number of factors to consider when selecting a product provider. Customers should look at the credibility, proven track record and the infrastructure of the insurers they are considering.

Benefits will also be a major consideration. The policy must include 100% reimbursement of inpatient treatment. Otherwise the employee may receive costly bills if hospitalisation is required.

The customer will also need reassurance that the insurer has a track record in organising evacuation should an injury or medical condition become serious. It is worth checking whether staff can have their treatment in their home country.

Aside from costs and benefit levels, always recommend a scheme that is easy to use, offers full support and expert claims handling. This can include attention to whether direct settlement arrangements have been organised with both medical providers and doctors around the world.

Where different time zones are involved it is important to be assured that they can still contact someone wherever they are, no matter what time it is. Consistent availability and high quality of service are, therefore, essential ' 24 hours a day, 365 days a year and from a person, not an answerphone.

The provider should also be able to pay claims in different currencies and where expatriates and their families move from one country to another, ensure they do not have to face fresh underwriting every time they move.

International PMI is often regarded as an emotive insurance ' employers are keen not to make a mistake in their choice of provider. If an employee requires medical treatment overseas and it is found that the policy does not provide adequate cover, the patient will be put through unnecessary stress at a time when they need to feel supported.

It is, therefore, important for a small company to know their member of staff receives high quality treatment as quickly as possible in order for them to return to work at the earliest convenience.

Small companies may often only have one key anchorman in a particular country. It is imperative that the company has chosen a high quality insurer if that employee becomes ill. Intermediaries can play a crucial role in this, helping groups make the right choice for their employees in what is seen as a complicated arena.