The recent terrorist attacks on America have increased demand for international PMI (IPMI) products ...
The recent terrorist attacks on America have increased demand for international PMI (IPMI) products by 50%, according to provider International Health Insurance (IHI).
The firm reported the increase ' which was calculated by comparing demand levels with the same period the previous year ' was due to people feeling vulnerable in light of the events of 11 September.
Per Bay Jorgenson, chief executive of IHI, said: 'Since September, it appears that many people ' particularly those posted or living abroad ' are feeling vulnerable. The huge rise in demand for our products reflects this nervousness and concern. Many of our new customers have never had global health cover before, but recent events have made them reconsider.'
Other players in the market were however stunned at IHI's claim and said that they had not experienced similar increases.
Damien Marmion, head of marketing at BUPA International, said: 'We do not believe that the events of 11 September should affect IPMI demand. There is always an increase in the autumn months, as it is the capture period for the year. As far as we can see, IHI's findings are abnormal for the market.'
PPP healthcare, Medicare International, Norwich Union and Cigna International also failed to report an increase in demand.
Faisal Shar, head of sales and marketing at Medicare International, said: 'The only scenario where IPMI levels would increase was if there was some sort of world epidemic for a particular disease, not because of terrorism fears.'
Sheldon Kenton, director of international sales and client management at Cigna International, said: 'I think the events have prompted a general review of cover by clients, but I cannot see a huge increase in demand due to it. There is some activity, but I would hesitate to attribute it directly to events of 11 September,' he said.
David Heppard, head of international division at IFA firm Independent Healthcare Consultancy, said that if anything, sales had gone down since the terrorist attacks.
'From our experience, not so many people are travelling since the events, meaning that individual sales of IPMI are going down. With the global recession being prompted further by the events, companies that have expats are also cutting staff, meaning corporate sales are also heading for a cut,' he said.
