Posted on Aug 06, 2010 by Sergio Ulloa
After having established a dedicated health insurance operation in Asia, AXA PPP International is now in the process of revamping its distribution network to increase their capabilities in the region. Teaming up with AXA Asia General Insurance (AGI), their partnership aims to increase the volume of business for both life and general insurance in Singapore, Malaysia, Indonesia, Thailand, Hong Kong and China, places where AXA has already established a presence.
The AXA PPP - AGI joint venture plans to target local markets first, tightly linking the procured business towards improving the proposition of AXA PPP International to global corporations seeking to cover both expatriate employees and local national employees. In other words, provide expatriate cover as and when the client wants it, plus present them with a local market proposition for local employees.
According to the feedback from global corporate clients of AXA PPP International, it is no longer good enough to just buy a UK private medical insurance scheme and cover their expatriate employees, but they may also want to cover a high number of their local employees in the country where their office is located.
The new Asian operation will initially build relationships with local and regional brokers, whilst looking at how to comply with the legal and regulatory challenges to also work with UK-based brokers.
Insurance Company mentioned:
Originally known as PPP Insurance, the company became part of the Global AXA Group in 1999 and changed its name to AXA PPP in 2002. AXA PPP is now an international health insurance company with over 2 million customers around the world.