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Announcing the State of Health Insurance Report 2021-2022
We’re so excited to introduce our latest report: the State of Health Insurance Report 2021-2022. Staying on top of the latest trends and creating content that simplifies insurance for our readers is what we strive for at Pacific Prime Latin America. Following the recent release of the Cost of Health Insurance Report 2021-2022, which covers the cost of international private medical insurance (IPMI), this report explores major insights into health insurance and healthcare trends globally and regionally.
Head to the download page to get your free copy of the report now! We’ve also condensed the key points into an attractive infographic. For those of you looking for a brief summary of the report, keep reading this Pacific Prime Latin America article.
What is the state of health insurance globally?
The health insurance industry has witnessed many changes in the past year. In our report, we group these trends into three main ones, which we’ll have a quick look at below.
COVID-19’s legacy: Health equity for all
What does ‘health equity’ truly mean in a post-pandemic world? This occurs when each and every person has the opportunity to reach their full health potential with access to telehealth, comprehensive health insurance solutions, mental health-related employee benefits, and more.
Data is the new healthcare currency
Data helps insurance providers with everything from keeping up with evolving consumer behavior to making decisions and streamlining processes. We also explore the importance of cybersecurity for stakeholders and what it means for the healthcare industry now that retail and non-traditional players are joining in.
Health insurers buckle up for growth
The pandemic certainly brought its challenges, but that doesn’t stop health insurers from staying optimistic. Just take a look at insurtech investments and how they continue to surge. With that said, insurers are still having a tough time attracting and retaining talent, as well as building trust and being transparent in their operations.
What is the state of health insurance in Latin America?
Our report found that insurance providers in the Latin America region are dealing with a host of issues, such as more competition and evolving client expectations to name a few. What’s more, the insurance distribution model in the region remains rather relaxed while service quality tends to be lower than international standards.
“Traditional distribution model is with Master Broker – Sub Broker – Agents. This means that the commission is split between at least 3 parties. As Pacific Prime Latin America integrates all of them, our bet is to offer a cheaper product with better service.”
Marco Vuarambon, CEO LATAM, Pacific Prime Latin America
We also take a closer look at Mexico in the report, which has witnessed its fair share of changes in 2021/2022. To start, high COVID-19-related claims and an increase in healthcare utilization have driven up IPMI costs in the country by 28%. Claims reimbursement has also surprisingly been slower than expected as insurance providers find it difficult to retain talent.
Mexico’s evolving healthcare system is good news for policyholders, who can be confident that coverage is recognized by healthcare providers as insurers add more networks. Outpatient benefits are also more attractive to individual clients in Mexico, though you’ll have to read the report to find out why.
Learn more about the State of Health Insurance Report 2021-2022
This Pacific Prime Latin America article just gives you a small taste of the State of Health Insurance Report 2021-2022. However, at 80 pages long, there is so much more for you to dive into. Don’t let its size scare you though. We’ve divided the report into small sections so that you can easily navigate through the table of contents.
Not only is this great for jumping to the part you’re most excited to read, but it also comes in handy when referring to the report later on. The report is also packed with case studies, charts, graphs, and images to make it visually appealing and enjoyable to read.
Eager to dive into the world of IPMI? Get your free copy of the State of Health Insurance Report 2021/2022 today!
Looking to speak with us instead? Get in touch with a member of Pacific Prime Latin America to discuss all things health insurance or secure a plan that’s ideal for your needs and budget. Contact us now!
Jantra curates and reports on the results of Pacific Prime’s monthly newsletters, as well as manages Pacific Prime’s Deputy Global CEO’s LinkedIn posts. Complemented by her background in business writing, Jantra’s passion for health, insurance, and employee benefits helps her create engaging content - no matter how complex the subject is.
Growing up as a third-culture kid has given her a multicultural perspective that helps her relate to expats and their families while 8 years of working remotely have given her unique insight into hybrid work arrangements and enthusiasm for employee benefits.
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