Pacific Prime, one of the leading global distributors of international private medical insurance in Asia and the Middle East has re-branded its Singapore operation under the Pacific Prime brand name.
Pacific Prime's Singapore operation first originated in 2006 to assist its clients relocating to the city state from Hong Kong and China and has steadily grown over the past 6 years to become the distributor it is today. Initially, the Singapore office was branded under the 'Kwiksure' name, a title which is synonymous with motor insurance in Hong Kong (being the cities leading distributor of motor insurance). However, with the increasing emphasis on medical insurance and a realignment of Pacific Prime's operations around the world in regard to medical insurance, the re-branding of the Singapore office is a logical step.
Neil Raymond, CEO of Pacific Prime stated "We are delighted with our growth and development in Singapore and are very optimistic for the future. Pacific Prime has also relocated to a new office location in China Square Central with more space to develop and to be closer to our clients located next to the CBD in Singapore".
Pacific Prime operates as an insurance agency in Singapore and is a leading distributor for Bupa International (partnered with Raffles Health Insurance Pte Ltd), Interglobal and Chartis, all of which are consider to be leading medical insurers in the city state.
Mr Ray Bond, who heads up sales for Bupa International in the region, commented on Pacific Prime's re-branding; "we are delighted to be working with Pacific Prime across the region and we can see that Pacific Prime's increasing focus on international private health insurance and its re-branding strategy go hand in hand'.
The development of medical insurance across Asia and specifically in Hong Kong, Singapore and China has unique challenges due to the high and fast rising cost of health care. Pacific Prime's focus on developing its offices around the region therefore, is to deliver better service to its clients and also to try and control healthcare costs for its clients.
Neil Raymond commented; "we fully understand that Healthcare costs are a rising part of people's income and that without managing these costs closely, it is going to become unaffordable. At Pacific Prime, we work hard with insurers to bring down premiums and also with clients to look for lower cost options. But ultimately, we must also work on the cost of health care".
Healthcare costs are rising in most parts of Asia at about 11%, a figure that is not sustainable in the long term being far above the rate of consumer price inflation. Mr Raymond commented that "Pacific Prime was working with insurers in Singapore and around the region to find ways to bring down these costs".
With developments constantly occurring in the Asian region, this latest move on Pacific Primes part should definitely benefit the company and its clients and help to strengthen their foothold in the growing Asian market.