Apr
14
JV in China sought by US Health Insurer
Filed Under China, DKV, Health Insurance, Insurance Company, USA Health Insurance | 3 Comments
WellPoint Inc., a health benefits provider in the US, is looking for a joint venture (JV) partner in China to set up a health insurance company by 2011. Angela Braly, the president and CEO of the company, has recently visited China to meet potential partners and the Chinese regulator in charge of this industry.
The characteristics sought in the JV partner include sharing the same vision as WellPoint and may not necessarily be an insurance company.
Back in 2004, the German private health insurer DKV Deutsche Krankenversicherung AG, acquired a 19.9 percent stake in the PICC Health Insurance Co., the first health insurer in China.
Given the current progress with the implementation of their health reforms, China is becoming increasingly attractive for foreign insurers looking to take a share of business in this huge market, particularly the private health insurance segment, which is quickly becoming an important complement of the insurance programmes undertaken by the Chinese government.
According to figures from the China Insurance Regulatory Commission, health insurance premiums for the first two months of this year reached US$1.6 billion (EUR 1.17 billion), which amounts to a 34 percent increase compared to the same period in 2009.
Insurance Companies mentioned:
WellPoint is the largest health benefits company in USA, with more than 33 million members in its affiliated health plans. As an independent licensee of the Blue Cross and Blue Shield Association, WellPoint serves members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin. In a majority of these service areas, WellPoint does business as Anthem Blue Cross, Anthem Blue Cross Blue Shield or Empire Blue Cross Blue Shield (in the New York service areas). WellPoint also serves customers throughout the country as UniCare.
DKV Deutsche Krankenversicherung AG (DKV) is the largest private health insurer in Europe and operates in seven European countries. With over 7.6 million customers and premium income of over EUR 5 billion. As an international health care manager, DKV offers to their customers the best possible medical and non-medical services – at all times and around the globe. In Europe, DKV’s successful activities extend from Spain and Italy over Luxembourg, Belgium to Norway and Sweden (joint venture). In 1997/1998, Victoria, Hamburg-Mannheimer and D.A.S. merged with DKV to form the ERGO Insurance Group. ERGO is one of the major insurance groups in Europe; the majority shareholder is Munich Re.
PICC Health Insurance Company Limited (PICC) was officially launched on Apr 8, 2005 as the first professional health insurance company. PICC Health is a modern shareholding insurance enterprise sponsored jointly by PICC Group, DKV, the largest private health insurance company in Europe and other famous enterprises. PICC Health has actively introduced international advanced technology extensively consolidating external social resources and strives to provide the broad masses of people with health security, implementation of health management, which has been leading the professional health insurance market in order to realise the health of public and the harmony of society.
Feb
5
SWICA and DKV Globality in new partnership
Filed Under DKV, Expat Insurance, Health Insurance, Healthcare, International Healthcare, Switzerland | 3 Comments
A cooperation agreement has been signed between SWICA and DKV Globality. As one of the biggest health and accident insurance companies in Switzerland, SWICA aims to jointly market with DKV Globality the international health insurance cover Globality CoGenio in the Swiss market, as well as providing a local continuation of insurance option in Switzerland. DKV Globality is a leading international health insurer with a special focus on expatriates. This joint approach closes a gap in corporate health and accident plans for global companies.
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More often than not, the staff of international companies and organizations on temporary overseas assignments have to fend for themselves or are inadequately insured when falling ill or suffering an accident. Another concern is whether they can resume the same level of cover provided by their plan upon their return to Switzerland. The partnership between SWICA and DKV Globality aims to eliminate the risk to expatriates when overseas.
Corporate clients benefit from the cooperation since it allows policyholders to switch from SWICA’s national inpatient and outpatient private health insurance solutions to DKV Globality’s international expat solutions, without the need for medical underwriting.
Globality CoGenio is an integrated, worldwide insurance solution for corporate clients in the Swiss market. This insurance solution offers the best of both worlds, since it has a wide range of assistance services and other benefits in addition to comprehensive healthcare services, ensuring comprehensive protection whilst maintaining individual local support.
Furthermore, this cooperation meets the needs of international companies by providing even wider cover. Swiss companies with international operations can now be offered by SWICA the market-leading DKV Globality products, supplementing its existing product range, whilst corporate clients in Switzerland of DKV Globality can enjoy the continuation of insurance option for staff returning to Switzerland.
A win-win situation for both companies and their clients.
Insurance companies mentioned:
SWICA
SWICA is one of the largest health and accident insurance companies in Switzerland, with a high-quality range of products and services comprising health, accident and daily allowance insurance for individual and corporate clients. Over a million people and more than 22,000 companies rely on premier service, financial security and competent assistance in the event of illness or accident. With its decentralised organisation, SWICA serves clients at over 50 locations in Switzerland.
DKV Globality
DKV Globality is a leading international health insurer with a special focus on expatriates, i.e. people working or studying abroad. Global companies and their expatriate staff as well as individuals and their families place their trust in DKV Globality’s expertise. The company stands for more than 80 years’ experience in health insurance and the proven competence of an international network of assistance and service partners. It is a member of Munich Health with more than 5,000 experts at 26 locations worldwide, providing its clients and partners around the world with innovative healthcare solutions. DKV Globality is a subsidiary of Munich Re, offering the financial strength and security of one of the world’s leading (re)insurers.