Brokers are having to work hard to build international PMI business even though the market is booming, Aria International Health Solutions has said.
According to Latif Sayani, managing director of insurance solutions at the international health cover provider, small deal sizes such as SMEs who need cover for four or five employees in diverse regions could be difficult for brokers.
He said: "The small deal sizes can be hard for them to find the right packages to accommodate.
"And for brokers they have been used to talking domestic PMI and are not sure where to turn when clients have international queries. The story for iPMI is not just that it is booming. It is, but brokers really have to pick the business and look for it, it is not necessarily a large, obvious thing."
Carolyn Paul, general manager at Aria International Health Solutions, added that larger numbers of smaller companies were now coming through as opposed to just the large corporates.
She said: "People are looking further afield to sustain their businesses and expanding beyond just the more obvious European regions. People cannot be as selective as they used to be in terms of where to find business."
Paul added that consistent regulatory requirements were making it increasingly difficult for advisers to do iPMI.
Aria International Health Solutions launched its brand in August last year, following the management buy-out, to make its proposition more prominent in the market and to brokers.
It is focussing its proposition heavily on regions such as Libya, Tunisia, Algeria and north Africa in addition to the more orthodox expatriate market.
