English
Feb
23
U.S Insurers can exploit global opportunities
Posted on Feb 23, 2010 by Sergio Ulloa (G+)
Conning Research and Consulting, a division of Conning & Company, has released a study which finds that insurers operating in the USA's domestic insurance market should focus their attention overseas if they are to see continuing high rates of growth and profitability. Conning, a leading provider of insurance industry and asset management research and consulting services, released the study "Global Opportunities for U.S. Health Insurers" to help provide a solid framework for insurance providers to work within when expanding to international markets. Sherry Manetta, an analyst with the company said, "U.S. health insurers have been successful focusing almost exclusively on the U.S. market up until now½ However, the U.S. now accounts for 80 percent of the global health insurance market, while representing just 4.6 percent of the world's population. Looking forward, both profit pressures at home and higher growth rates overseas will drive increased multinational expansion interest among U.S. health insurers." The study comes at a time when increased expansion is at the forefront of many international insurance provider agendas. With companies such as CIGNA, Allianz Worldwide Care, Aetna Global Benefits, and BUPA International all actively moving to consolidate their positions in the growing international marketplace, the study by Conning is a timely notification for many American insurance companies looking to revitalize their services. Regarding the study, Stephen Christiansen said "In reviewing growth opportunities in health insurance beyond the U.S. market, Asia and Europe represent key near-term opportunities." The Conning Director of Research went on to further elaborate saying that "U.S. insurers have built and are managing the world's most complex managed health care system. With this infrastructure and expertise, U.S. insurers have the potential to emerge as front-runners of a vast global managed health care system should they decide to enter the competition already underway with Western European and Canadian multinational insurers." Companies Mentioned Conning Research and Consulting
A provider of asset management research and consulting services to the insurance industry, Conning Research and Consulting has over 50 years experience in providing far reaching analysis to key industry decision makers.
BUPA
BUPA is an international health insurance company that provides health insurance for individuals and companies all over the world. This company has offices on three continents and over 7 million customers' world wide. As a provident association BUPA has no shareholders, because of this it uses its profits to invest in healthcare and medical facilities around the world.
CIGNA International
For more than 125 years, CIGNA has been helping people lead healthier, more secure lives. The company provides health care and related benefits offered through the workplace. Key product lines include health care products and services (medical, pharmacy, behavioral health, clinical information management, dental and vision benefits, and case and disease management); and group disability, life and accident insurance. In addition, CIGNA also provides life, accident, health and expatriate employee benefits insurance coverage in selected international markets, primarily in Asia and Europe.
Allianz Worldwide Care
Allianz Worldwide Care was established in 2000 as the international medical insurance specialist of the Allianz Group. Allianz Worldwide Care is dedicated to providing superior health insurance policies to expatriates and their families all over the world. Headquartered in Ireland, this insurer has regional offices in Africa, the Middle East, Europe, and Asia, serving to provide their clients with the most comprehensive support network available.