· David Myers, Global Head of Sales & KAM Health & Benefits, Allianz Partners
· Romain Di Meglio, CEO, APRIL Asia
· Xavier Lestrade, CEO International Health at AXA
· Anthony Cabrelli, Managing Director, Bupa Global
· Neil Kirby, CEO Global Individual Health, Cigna International
· Liz Yovich, Director of Global Engagement and Employee Benefits, Worldwide Broker Network

Globally, raging medical inflation has prompted authorities, insurers, and businesses alike to roll out measures that will rein in costs while keeping healthcare accessible for those who need it. Meanwhile, other factors have also emerged to reshape benefits approaches for insurers and businesses amidst price volatility, including:

· Telemedicine to encourage healthcare access while cutting costs related to traditional hospital visits
· Artificial intelligence to assist insurers in processing claims, detecting frauds, and identifying risks
· Preventive care to keep employees healthy and avoid costly major health conditions down the line
· Overutilization and overprescription of care as major behavioral factors that drove healthcare and benefits costs
· Alternative insurance structure, such as self-insurance, flex benefits, and personalized benefits, are gaining traction to keep benefits competitive while leaning down costs

Insights from Pacific Prime’s global offices also shed light on unique factors influencing each regional market, including:

· Hong Kong: Cost control remains a challenge as cross-border care, chronic and routine visits, and new pricing regulations are driving up costs.
· China: Post-pandemic health-seeking behaviors are pushing up costs, but aggressive insurer competition and tendering have kept price hikes modest.
· Singapore: Evolving government policies and stricter employment regulations call for a more adaptable benefits offering from Singapore-based employers.
· Thailand: Thailand faces sharp premium increases and new copayment clauses for health insurance to manage expenses.
· The UAE: Overutilization, rising costs, and growing consumer expectations have prompted insurers to recalibrate their models and refine their claim consideration process.
· The UK: Delayed access to public healthcare remains the major factor in insurance purchases, with demand for faster, personalized care continuing to rise.
· Latin America: Despite fragmented markets and looming economic concerns, demand remains resilient thanks to a growing middle class.

Neil Raymond, the CEO and Founder at Pacific Prime, remarked:

“We hope this report will bring you clarity and perspectives to brave this evolving world of insurance and forge your way forward amidst these looming challenges. We discuss key trends that are influencing global medical insurance and the unique regional factors that are shaping the insurance and benefits sectors in regions across the globe, provided by our global offices and valued insurance partners.”