Henner and Tokio Marine Life offer portable international health insurance solutions to workers headed to Singapore
Tokio Marine Life Insurance Singapore (TMLS) and Henner Group in June 2016 announced that they have joined forces to launch an international medical coverage solution for globally mobile employees based in Singapore.
Henner is a French firm specialized in employee benefits and one of the largest and best-known TPAs in the international private medical insurance market where it was previously known as GMC.
The partnership allows TMLS and Henner to help employees who seek medical insurance when they relocate to Singapore, which has one of the most globally mobile workforces in Asia and is a top destination for expatriate employees. The need for this solution was prompted by a 26 percent increase in talent mobility over the last decade, as well as the changing nature of overseas contracts, which are increasingly for short term and project based jobs. This results in employees who want more portability. The new TMLS-Henner Care & Health plan allows them to switch to an individual plan without an underwriting requirement when they leave an employer or group plan after two years.
The Care & Health plan offers features such as annual policy limits that range from $200,000 to $4 million (US), coverage for complementary therapies and medicines; comprehensive maternity benefits including in-vitro fertilization (IVF); and flexibility in optional dental and vision care add-ons that cover adult orthodontic work as well as Lasik surgery to correct vision. The plan also offers cashless access to Henner’s well-established international healthcare network for both outpatient and inpatient hospitalization, and turnaround time of an average three to four working days for claims processing.
The Care & Health plan was first launched in late 2013 in Europe, making the launch in Singapore an interesting example of the global deployment of a product across a provider’s international locations. Henner recently got a license to operate in Hong Kong and may be expected to deploy its global product range there as well. Henner’s wholly-owned subsidiary GMC is one of the largest and best-known TPAs in the expatriate insurance and international private medical insurance (IPMI) markets.
Tokio Marine website: www.tokiomarine.com
Henner website: www.henner.com