Expats driving demand for private health insurance in Asia

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Demand for private health insurance in Asia has never been greater according to Andrew Apps, a director at international health insurer ALC Health.

Speaking to Post, Apps, pictured, said: "Demand for private health insurance in Asia has never been greater. There has been double digit growth for four or five years and driven by a combination of an increased number of expats and local nationals looking for international solutions." 

He added that patients were becoming more aware of which hospitals and countries provide the best treatment for particular illnesses, so traveling across Asia for treatment is becoming more common.

Although ALC sources most of its business from brokers, the internet is becoming more important as a way of understanding which insurances are available, thus consumers are becoming more informed when speaking to a broker.

Speaking about the rising cost of claims, Apps said technology is increasing costs as doctors discover new ways of treating patients; in addition, the costs of drugs are "going up all the time". Therefore finding reasonably priced premiums is becoming more important.

Apps also commented that he felt the rise of private insurance in Asia would not be detrimental for public health systems and that proposed reforms in Hong Kong to include pre-existing conditions were to be expected.

 

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