How Pacific Prime Simplifies Insurance Through Comprehensive Solutions

“Simplifying insurance” has been the Pacific Prime motto since our brokerage started over 20 years ago. Fast forward over two decades and Pacific Prime continues to make insurance more accessible and understandable to individual and corporate clients alike.

In this Pacific Prime article, we will take a closer look at how a top health insurance broker and employee benefits specialist, like ourselves, use InsurTech to provide comprehensive solutions and simplify insurance for our clients.

Pacific Prime’s Innovative Offerings

The Prime Care Portal (PCP), is an integral part of what we offer our clients. The bespoke employee benefits portal makes it possible – and easy – for clients to take charge of all aspects of the benefits administration process.

Using the PCP as a centralized platform allows for seamless collaboration between HR teams, no matter where they are in the world. It’s a streamlined way for employers to keep track of all things employee benefits from start to finish, regardless of location, insurer, or industry.

In 2021, Pacific Prime acquired InsurTech group CXA’s brokerage arms in Hong Kong and Singapore, further cementing our brokerage in the InsurTech space.

As we step into an age where flexible benefits are the future, the acquisition enables us to expand our offerings in terms of flexible benefits technology, as well as provide simplified to full-flex solutions to companies globally.

How the PCP Helps Companies Amidst InsurTech Challenges

As Neil Raymond pointed out in an interview with CIO Applications, Pacific Prime often works with multinational corporations (MNCs), operating in multiple countries and jurisdictions, MNCs have their own unique set of challenges when it comes to employee benefits plan administration.

Time and time again, the PCP has proven to be an effective solution for everything from handling legal requirements to logistics and so much more. Designed to work across several jurisdictions, the PCP complies with DHA and HAAD, as well as China-based insurance data.

Our all-in-one HR and benefits portal is designed to allow you to:

• Manage and administer group policies across entities, jurisdictions, and countries
• Oversee plans from multiple insurers on one centralized platform
• Cascaded HR access rights from global HR to local administration
• Real-time updates on census and premium data
• Real-time invoice and billing per division, business unit
• Secure software with full audit trail
• Customizable reports
• Policy renewal
• And more!

A Closer Look at Pacific Prime’s InsurTech services

Here in Pacific Prime, we believe that our technology should solve a problem our clients face when managing their policies. In order to stay in touch with the ever-changing industry, our platform also continues to evolve to make our clients insurance journey smoother.

“How can technology best serve our client’s requirements?” is something we think about at every step of the process.

Pacific Prime’s Broker Framework consists of a three-step process:

1. Consulting
2. Policy broking
3. Plan administration

Through this framework, we’re able to prioritize the needs of companies and ensure the best possible outcomes in a consistent, customized, and orderly manner. We thoroughly evaluate our client’s needs and put insurers through a rigorous benchmarking process.

Then we present suitable plans based on everything from performance to data until we reach the desired outcome.

From working with an insurance provider that offers telemedicine consultations, electronic claims submissions, and other InsurTech services to using the portal for administering plans and making data-based decisions, there are no limits to InsurTech services via Pacific Prime’s Broker Framework.

Neil discusses an interesting case study involving a UK-based education management group in the CIO Applications article, so be sure to check that out! 

Why Choose Pacific Prime

Established in 2000, Pacific Prime is an award-winning global insurance brokerage and employee benefits specialist that offers individual and corporate insurance solutions. Headquartered in Hong Kong, Pacific Prime has 15 regional offices globally.

With a USD $750 million premium under management, Pacific Prime is now the third largest employee benefits broker in the Asia Pacific after acquiring CXA Group’s brokerage arms in 2021.

One key difference that sets us apart from many traditional insurance brokers and employee benefits specialists is that we have a single point of contact for clients, due to our unique service model.

On top of that, we can leverage our expertise to offer personalized solutions for clients from all industries, and sizes. We are also able to provide the optimal service standard thanks to our 20+ years of international private medical insurance (IPMI) experience.

Moreover, we can keep a watchful eye on the latest trends in the health insurance and employee benefits landscape and publish everything from weekly blog posts to annual reports such as the Cost of Health Insurance Report and the State of Health Insurance Report.

Are you ready to explore customized company solutions by Pacific Prime? Whether you’re after personalized insurance plans for your company, yourself, or your family, contact us for impartial insurance advice and a free quote today.

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Vista Nip

Content Creator at Pacific Prime

Vista is a content creator at Pacific Prime. With over 8 years of writing experience for online platforms on various topics such as luxury lifestyle and digital entertainment. He enjoys diving into complex and otherwise confusing topics, and creating easy-to-understand content for the readers to help them navigate through the topic - something that’s perfectly aligned with Pacific Prime’s motto of ‘simplifying insurance’.

Born and raised in the cultural melting pot that is Hong Kong, and having studied at an international school, Vista has developed a multicultural perspective that he uses in his writing and strives to connect to people of different backgrounds.

In his free time, Vista enjoys immersing himself in different worlds, from video games to light novels and movies. His hobbies help him expand his writing style by putting himself in the point-of-view of different people and characters.

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