New data from specialist international private medical healthcare insurer, Expacare has found that brokers are concerned about their lack of knowledge about foreign markets*. The broker plays a vital part in ensuring that clients receive the best financial advice ahead of their move overseas and the research comes at a time when three fifths (60%) of business owners hope to operate overseas, according to Expacare’s ‘Anatomy of an International Business’ 2013-14 report**.
The data also revealed a number of other issues brokers face when working with international-bound clients. Brokers are concerned about staying on top of legislation in a number of different countries. Furthermore they are concerned about price rises and cost containment on policies, with their being an increased focus for providers in balancing cost alongside the level of cover provided.
Beverly Cook, Managing Director at Expacare said: “Brokers play a crucial role in our business proposition and the research was a great opportunity to get under the skin of the trusted adviser. Brokers’ concern for cost containment and levels of cover is understandable given that healthcare inflation is at an all-time high.
“It’s our aim to do all we can to support brokers. We’ve been trading for over 30 years, making us one of the world’s longest established global healthcare providers in providing international private medical insurance for expats. Brokers and clients can therefore have the confidence in us that we have a constant presence in the market, providing clients with the level of cover they need and the broker any advice they may need, wherever they operate.”
“This survey demonstrates there is more for iPMI industry to help brokers fully understand the markets they operate in, however it also revealed many brokers are happy with the service they receive. At Expacare we take pride in providing cover tailored to clients’ needs meaning that they can enjoy their time overseas safe in the knowledge at they are covered whatever happens.”
