Feeling comfortable in the knowledge that if something was to happen to a family member their medical costs will be taken care of, is important to us all. Our expert consultants can advise on the most suitable level of coverage for families, individuals, groups, travelers, and teachers expatriate health insurance.
Pacific Prime is an expatriate insurance broker specialising in providing overseas medical insurance for China nationals living, working or holidaying abroad. If you are a non China national and moving to China we can also provide plans that meet your specific requirements.
International medical insurance plans generally include benefits such as emergency evacuation, hospitalisation benefits and repatriation of mortal remains. The majority of plans are also lifetime guaranteed renewable allowing you to have peace of mind that your medical expenses will always be covered regardless of your changing health. As an independent insurance broker we deliver impartial advice to our clients based on their specific requirements rather than incentives by insurance companies. To discuss your international medical insurance requirements please feel free to contact our expert consultants.
Pacific Prime Insurance will be with you for the duration of your policy. We offer additional customer services that include claims advice, emergency contact numbers and medical advice lines. We also maintain a comprehensive list of China hospitals/doctors. Most of our clients are expatriates so we maintain a list of Embassies in China.
As a leading broker of medical insurance in China we keep up on the latest insurance trends and China Insurance News.
We can offer expatriates dedicated medical insurance China plans that will provide comprehensive coverage in China and around the world. Plans that we can offer will usually have a number of benefits that a policyholder is able to tailor to suit their specific requirements. With coverage options including out-patient, dental, maternity, and emergency evacuation, you will be assured of receiving the highest levels of quality treatment anywhere in the world.
As the Chinese economy continues to grow and expand the country is being seen as a major international market, and this is drawing many corporations from all over the world to Beijing and Shanghai in an effort to build their profiles in the Mainland market. Many of these companies have no history of working in China and have encountered a myriad of difficulties stemming from the cultural confusion. The difficulties that foreign corporations are having in the Chinese market are readily viewable in the nation's insurance industry which is, for the most part, dominated by Chinese insurance companies.
China has, at current count, 135 insurance companies working in and around the country; however foreign corporations and investment only account for 7% of the total Chinese insurance market. This is despite the fact that over 47 insurance organizations located in China are funded by foreign owned entities, showing that despite the eagerness of foreign enterprises to enter the Chinese market they are having great trouble doing so. There are some exceptions to this trend though, with companies such as Royal and Sun Alliance, who have a history in China dating back to 1853, and it is this experience that has allowed R&SA to become one of the most successful foreign insurers on the mainland.
One of the main reasons that foreign insurance companies are trying so hard to enter the Chinese market is due to the increase in expatriates in the country. In recent years more and more overseas nationals have been relocating to the People's Republic of China in order to capitalize on the massive growth in the economy and take advantage of the unique lifestyle and opportunities that the mainland offers. With the increase in expatriates also comes the need for western style insurance and protection, and as a result the interest from international and foreign based insurance organizations towards the Chinese market has also boomed.
Why then, if these corporations are so interested in establishing themselves on the mainland, are they having so much trouble doing so? Part of the issue may be due to certain cultural and societal issues towards which foreign nationals often have a hard time adjusting. Understanding the Chinese marketplace can be difficult, and it is partly due to this that the only foreign owned insurance companies in China that are enjoying great success are the ones, like Royal and Sun Alliance, that have a long history of providing high quality products to individuals throughout China.
It is this ability to bridge the cultural gaps that still, to some extent, exist between the Western and Asian economies that help to make a successful international insurance company, and sadly many top class international insurance companies do not realize this. There are, however, some exciting new changes in the Chinese insurance industry as the economy continues to further open and more and more international investment flows into the nation. The number of foreign corporations accessing the insurance market in China is growing, and will continue to grow, as the nations industrial and technological might continue to grow and gain ground on western competitors.
This means two things, the first is that the number of foreign insurance organizations in China will continue to rise, giving expatriates in the country the assurance that they will be able to deal with insurers offering products with which they are already familiar. This will in turn help more foreign nationals to achieve their full potential in this booming economy and in turn serve to lure more expatriates to the country creating a cyclical effect. The second effect that this will have is towards the innovation and creation of new insurance products and the implementation of higher quality products giving both Chinese and foreign nationals the assurances that they need, that despite whatever happens they will have the protection and services that they deserve at their disposal.For more information about traveling to China, the international health insurance plans that we can provide there, or to receive a free quote, please contact us today.
For further information about medical insurance in the People’s Republic of China please visit China Health Insurance.