The Big Partnership Deals Shaping The iPMI Market

In this article, iPMI and global healthcare analyst Ian Youngman shares key information from his latest iPMI market report, International Health Insurance 2023.

The big changes in the iPMI market in recent times are as follows:

  • CVS closing Aetna International and transferring most IPMI policies to Allianz Partners.
  • Allianz and Sanlam partnering across Africa.
  • Munich Re selling Globality and partnering with Foyer for IPMI.
  • Bupa partnering with Mapfre to sell IPMI in South America.

But there are other existing partnerships, some flying way under the radar:

Key iPMI Market Deals

  • Aetna and Allianz
  • Aetna and Bahrain National Life
  • Aetna and Malakoff Humanis
  • Aetna and Sanlam Aetna and Swiss Life
  • AIA and Discovery
  • AIA and Zhong An
  • Allianz and Foyer
  • Allianz and Jubilee
  • Allianz and Sanlam
  • Arabia Insurance and Now Health International
  • Aviva and Discovery
  • AXA and Dubai National Insurance
  • AXA and Global Benefits Group
  • AXA and Met Life
  • AXA and Now Health International
  • Blue Cross Blue Shield and Bupa
  • Bupa and CoverGo
  • Bupa and Generali
  • Bupa and Mapfre
  • Bupa and Oman Insurance
  • Bupa and WTW
  • Bupa -Sanitas and Generali
  • Chubb and PICC
  • Cigna and Hollard
  • Cigna and nib
  • Discovery and Generali
  • Discovery and Prudential
  • Foyer and Maxhealth
  • Foyer and Munich Re
  • Malakoff Humanis and Swiss Life
  • Nib and United Health
  • Now Health International and Asia Pacific Insurance
  • PICC Health and Starr
  • Sanlam and Sompo
  • Sompo and AMI Assurances
  • Sompo and Now Health International
  • Sompo and RGA
  • Sompo and Zhong An
  • Starr and Clements Worldwide
  • Starr and Now Health International
  • Swiss Life and Swiss Re
  • Tokio Marine and Hollard
  • Vhi and Collinson
  • Zurich and Gulf Insurance Group

International Health Insurance 2023 Sample Contents


AIA and Discovery launched Amplify Health in 2022. AIA owns 75% and Discovery 25%. It is a a pan-Asian health insurtech business. It is for Asia excluding Mainland China, Hong Kong and

Macau. The vision for Amplify Health is to be a leading digital health technology and integrated solutions business, transforming how individuals, corporates, payers and providers experience and manage health insurance and healthcare delivery, improving the health and wellness outcomes of patients and communities across Asia.

Amplify Health will deploy a range of health technology assets, proprietary data analytics and extensive health expertise to AIA’s rapidly growing businesses across the region and to other major participants in the healthcare sector.

This will become a key competitive advantage for AIA helping to grow new business value and delivering financial benefits such as improved claims performance and reduced operational costs.

Amplify Health will open up new and significant growth opportunities from the provision of its health technology assets and services to third-party clients including competing health insurers.

Individuals will have greater access to the right providers at the right cost with improved health outcomes and empowerment through behavioural change programmes.

Payers and corporates will have access to better health insurance and wellness products, improved claims quality, advanced risk management capabilities and reduced administrative costs.

Healthcare providers will transform patient experience and satisfaction through digital services and insights leading to enhanced decision-making, greater alignment with payers and better medical outcomes.

Pharma and medtech companies will improve clinical programmes through enriched real-world data and advanced digital tools, leading to lower treatment costs and new therapies.

Consumers want to more proactively manage their wellbeing using digital health and remote care services.

Amplify Health will be assigned ownership of Discovery’s Health IP and its full stack of technology assets, processes and analytics for the Asian region, including the systems and capabilities behind the existing AIA Vitality wellness programme, which will be transferred from Discovery to a separate entity wholly owned by AIA within Amplify Health. This entity will also be assigned ownership of Discovery’s Vitality IP for the region, excluding Mainland China, Hong Kong, Macau and Japan given Discovery’s existing partnerships in those markets.

As a Health InsurTech business, Amplify Health will not take underwriting risk on its balance sheet and no regulatory capital will be required directly as a result.


Chubb has a strategic cooperation agreement with PICC Property & Casualty Company of China to leverage Chubb's global capabilities in support of PICC's customers and other Chinese-affiliated companies around the world in line with the Chinese government's drive to promote the country's "Going Out" and "One Belt One Road" initiatives.

PICC’s commercial customers include some of China's largest enterprises, many of which have complex operations in multiple foreign jurisdictions.

The strategic cooperation agreement, which has a term of 10 years, includes the following key provisions:

  • Chubb and PICC have dedicated underwriting and service centres – China Desks – for Chinese-affiliated enterprises in Chubb's offices throughout the world.
  • Chubb and PICC will insure and service China-affiliated companies overseas, as well as jointly explore other business opportunities.
  • Chubb provide educational and training opportunities to PICC personnel assigned to the China Desks.
  • Chubb makes its global insurance capabilities available to PICC and its customers.
  • Chinese companies with multinational insurance programmes can have their overseas insurance needs serviced through Chubb's operations in 54 countries and partners in 150 other countries.
  • PICC has access to one of the world's largest insurance networks, while Chubb can jointly develop insurance business with some of China's largest enterprises.
  • There is no PMI or IPMI but Chubb provides personal accident and supplemental health insurance to individuals, groups and companies.


As we can see from this sample contents from International Health Insurance 2023, when you scratch the surface of the iPMI market, there is a lot going on, at home and overseas. Many deals get overlooked, even when they have a dramatic effect on the market. Some executives won’t even be aware of such deals taking place, which is never a good thing in such a competitive and complex market. This is where Ian Youngman’s reports can help you and your workforce, better understand the key developments, movers, and shakers in the business.

You can purchase your own copy of International Health Insurance at a subsidised rate from iPMI Global, by clicking here.

UnitedHealthcare Global