The global nature of international PMI means providers have to be on top of their game and get the claims process right first time, every time. Tim Mutton delves into the detail.
But that’s not all technology is now beginning to deliver in this market. Management should be able to track the performance of their operations, and indeed some providers’ technology allows them to generate detailed performance information and take remedial action when needed.
Others are now also allowing their corporate clients to track the progress of claims live online, a big bonus for multinationals who want to manage the IPMI coverage of their global workforce. Systems such as these, of course, also ease the administrative burden on intermediaries, providing bespoke quote generation and full records of their clients’ accounts.
But technology is also enabling the lead providers in the IPMI sector to give clients the tailor-made service they demand. For example, expatriates want to be able to pay premiums and receive claims in the currency of their choice, and not necessarily the same currency each time.
So, a UK national based in Hong Kong and on holiday in Kenya should be able to opt to receive his or her claim in pounds, Hong Kong dollars, Kenyan shillings, or any other currency they care to choose.
Currently, most players allow premiums to be paid in US dollars, sterling or euros, but very few offer a wider choice when it comes to paying claims.
Technology is making all this possible. Every day it fundamentally changes the way IPMI is managed around the world.
Decisions can be made almost instantaneously; problems dealt with more urgently. The customer gets better care and more certainty, because the promise we have sold can be delivered faster and more efficiently.
Matching claims expectations
Increasing certainty, of course, relies on fast, efficient claims handling. Most providers recognise this and work hard at getting it right. Efficient reimbursement of out-of-pocket claims expenses, for example, is something that matters to customers. The standard should be to reimburse customers, whatever the amount, within five days, once all the necessary information has been provided.
One of the hassles that tests the patience of expatriates is the red tape associated with reimbursements. As a result, there is now a move towards providers paying claims costs under US$500 to the customer, with just a receipt as evidence, although some providers still demand confirmation from a medical practitioner.
Evacuation is also part of the IPMI ‘promise’, particularly when customers find themselves in remote areas of the world, where transport links are poor and medical facilities even poorer.
Providers usually commission the services of specialist repatriation companies. They have a key role in offering a 24-hour help line, open 365 days of the year in all the key global regions, supported by fully trained medical personnel and specialist equipment.
