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International Private Medical Insurance (iPMI) For High Net Worth Individuals

International Private Medical Insurance (iPMI) For High Net Worth Individuals

In a closed door, executive iPMI Magazine Round Table, we speak with leading C-Level Executives at Aetna International, Bellwood Prestbury, Cigna Global IPMI and HealthCare International, about International Private Medical Insurance (iPMI) For High Net Worth Individuals. 

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While globally in 2015 High Net Worth Individual (HNWI) wealth saw only a modest growth of 4 percent, wealth in Asia-Pacific grew at an aggressive 10 percent propelling Asia-Pacific into the lead position as the region with the most HNWI wealth globally. This is the first time that Asia-Pacific is ahead of North America for both HNWI wealth and population. In 2015, Asia-Pacific held US$17.4 trillion in wealth with a 5.1 million HNWI population in comparison to North America’s US$16.6 trillion in HNWI wealth and 4.8 million in population.

Global HNWI wealth reached US$58.7 trillion and the HNWI population grew at 4.9 percent to be 15.4 million in 2015. Since 1996, global HNWI wealth growth has expanded by four times equaling nearly US$59 trillion, and if current modest growth rates hold, wealth is projected to reach US$100 trillion in 2025. Despite these record wealth levels, the report also found that only one-third (32 percent) of global HNWI wealth is currently being managed by individual wealth managers, representing a challenge and an opportunity for firms to consolidate assets.

“It is remarkable that only one- third of HNWI wealth is currently with wealth management firms which shows how great the growth potential is for firms that can combine digital technology and FinTech capabilities with human expertise and relationships, to reflect state-of-the-art services for clients,” says Anirban Bose, Head of Banking and Capital Markets, Capgemini’s Financial Services Business Unit. “Those firms that can offer a digitally- integrated customer experience that builds on high levels of trust and confidence in firms and captures the characteristics of speed, flexibility and ease of use will be well positioned to become leading firms of the future.”

Asia-Pacific has been a driving force, doubling HNWI wealth and population over the decade. Asia- Pacific’s HNWI wealth grew by 10 percent in 2015 which is almost five times North America’s 2 percent wealth growth in 2015 decelerating substantially from 2014’s 9 percent growth rate. Using a more aggressive growth projection, if markets in Asia-Pacific continue to grow at its 2006 to 2015 rate, Asia-Pacific will represent two-fifths of the world’s HNWI wealth in ten years, more than that of Europe, Latin America, and Middle East and Africa combined. Japan and China stand out as regional dynamos, driving almost 60 percent of global HNWI population growth in 2015.

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iPMI Global is the leading business intelligence provider for international private medical, health, travel and expatriate insurance markets worldwide. Due to the nomadic nature of the international private medical insurance (IPMI) market, iPMI Global is an internet based news service for worldwide insurance and medical assistance professionals who need to understand the impacts of insurance and healthcare policy, regulatory, and legislative developments.

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International Private Medical Insurance (iPMI) Market Round Tables

Powered by iPMI Global, iPMI Round Tables facilitate advanced industry dialog and debate, at an industry and government level. iPMI Global Round Tables host the most important industry players and VIP's from various sectors of the international private medical insurance and expatriate healthcare market.

Educate, discuss and lead from the front. Learn from peers and network with new clients, iPMI Magazine Round Tables are designed by the industry, for the industry.

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