Now Health adds no claims bonus to IPMI in Singapore

clock

Now Health International and Tenet Sompo will offer a no claims bonus to their members in Singapore.

The no claims bonus offers 10% off renewal premiums where no claims have been made in the first year, and 15% off the renewal premium where there are no claims in the first and subsequent years.

Claims made under the routine dental benefit will not affect the no claims bonus.

There will also be a a local premium currency option allowing policholders to pay in Singapore dollars.

The announcement follows the annual product and premium review, and will allow policyholders to avoid exchange rate fluctuations between the US and Singapore dollars.

Rob McIntyre, general manager, Singapore, at Now Health, said: "Singapore is a key market for Now Health and we're delighted to be announcing two initiatives that will make a real difference to our members here.

"The last few months have seen big fluctuations in US and Singapore dollar exchange rates, pushing up premium rates up by 10% in some instances.

"And with our new no claims bonus facility, our members will have the opportunity to experience even lower premiums with no loss of benefit."

Further reading:

CEGA and WPA renew global assistance deal

Now Health International unveils rate and product changes

Now Health investor acquires Best Doctors Insurance

 

More on Insurer

British Friendly taps Alex Yates as head of underwriting

British Friendly taps Alex Yates as head of underwriting

Joins from The Exeter

John Brazier
clock 23 November 2021 • 1 min read
LV= sets out explanation for sale; urges members to vote for private equity bid

LV= sets out explanation for sale; urges members to vote for private equity bid

Vote on 10 December

Tom Ellis
clock 22 November 2021 • 4 min read
Nemone Wynn-Evans appointed as new Shepherds Friendly chairman

Nemone Wynn-Evans appointed as new Shepherds Friendly chairman

Joanne Hindle steps down after eight years

John Brazier
clock 18 November 2021 • 1 min read

Highlights

COVER Excellence Awards 2021: All the winners revealed!

COVER Excellence Awards 2021: All the winners revealed!

Leading With Distinction

COVER
clock 03 November 2021 • 2 min read
COVER Excellence Awards 2021: The Night in Pictures

COVER Excellence Awards 2021: The Night in Pictures

A photo gallery from COVER Excellence Awards 2021, held at The Brewery, London, on 2 November.

COVER
clock 03 November 2021 • 1 min read
Gosia Bowling: The role of behavioural science in creating a menopause-friendly workplace

Gosia Bowling: The role of behavioural science in creating a menopause-friendly workplace

'The key to supporting menopausal women is creating a culture in which conversations are welcomed and expected'

Gosia Bowling
clock 02 November 2021 • 6 min read