Top 5 InsurTech Trends for the International Private Medical Insurance Broker Market

This iPMI Global InsurTech in Focus article examines the Top 5 insurance technology trends in the international private medical insurance broker market.

In the recent iPMI Global Insurance Technology Round Table, technology is shown to enhance the relationship between International Private Medical Insurance (IPMI) brokers and their clients:

• Technology empowers brokers with transparency and efficiency, fostering trust with clients.

Providing brokers with a dedicated portal. These portals offer real-time access to commissions, production statistics, and, with client consent, claims information. This transparency ensures brokers are well-informed, enabling them to make better decisions and build stronger relationships with their clients.

• Technology enables rapid response times and customized solutions, making brokers appear more reliable.

Providing dedicated support teams that guarantees assistance and tailored offers within one business day. Such promptness allows brokers to meet client needs efficiently, enhancing their reputation as reliable partners.

• Digital systems streamline processes, letting brokers focus on client relationships.

Simplify lead management with online application forms and affiliate links, allowing brokers to focus on core tasks and client interactions. This streamlining of processes allows for more dedicated time and attention to be given to clients.

• Technology allows for informed client advice through comprehensive comparison tools.

Health Compass has developed a platform that lets brokers compare plans from multiple providers. This allows brokers to offer a wider market view and help clients choose suitable coverage by assessing price versus quality. Brokers can access quality scores for individual cover elements, giving clients a detailed understanding of their coverage.

• Digital platforms create a seamless and transparent client experience.

Think InsurTech's platform, designed for a global clientele, offers a real-time, interactive experience for clients. This platform allows for quick comparisons, quote generation, and access to documentation, making the process efficient and user-friendly.

Conclusion

• The iPMI market is ripe for disruption.
• InsurTech solutions offer promising ways to enhance efficiency, transparency, and customer experience.
• Embracing technology will benefit stakeholders and meet the needs of globally mobile individuals.

Download International Private Medical Insurance Insurtech Strategies

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We hope you enjoy reading this RT report, as much as we enjoyed pulling it together.