Posted on May 27, 2015 by Travis Jones
One of Pacific Prime’s key insurance providers in the Asia-Pacific region has announced that they will be expanding the geographical scope of their offerings by acquiring a North American insurer. Now Health International announced at the end of April that it has reached an agreement to acquire Bermuda-based insurance company Best Doctors Insurance. This acquisition will give Now Health a boost into markets in North America, Latin America and the Caribbean, where Best Doctors Insurance currently has a very strong footing.
The combination of the two companies will immediately lead to an overall operation spanning 4 continents with 12 offices and over 300 staff. Additionally, over 100,000 members in over 200 countries will be in the companies’ portfolios, which will be serviced additionally by over 5,000 distribution partners, including Pacific Prime through its offices in Hong Kong, Singapore, China and the UAE.
About Now Health International
Now Health International was founded in 2010 with the idea of taking a fresh approach to international health insurance. By utilizing innovative design and technology, Now Health aims to deliver on its promise to provide fast, accurate service and unparalleled accessibility, clarity and ease-of-use. Now Health International is an insurance company that has been recognized for its excellence through numerous awards, including its recent accolades at the 2015 Wealth & Finance Insurance & Reinsurance Awards where it was honored as the winner of the Best for International Health Insurance and Best Digital Insurance Firm categories.
Being one of the fastest growing International Private Medical Insurance (IPMI) companies on the planet, Now Health specializes in servicing the ever-growing Small to Medium Sized Enterprise, High Net Worth Individual, and expatriate markets. Based in Hong Kong, Now Health has additional offices in China, Singapore, the UAE, and the UK, with the opening of offices in Indonesia on the horizon. However, with no offices currently in the Americas, it was an easy decision to make an acquisition of a company that is already well respected in the region.
About Best Doctors Insurance
Named as one of Inc. 5000 Magazine’s “Fastest Growing Private Companies in America” in 2014, Best Doctors Insurance has made great strides in providing the Americas with easy to understand medical plans and superior coverage. Like Now Health, Best Doctors Insurance aims to provide their members with clarity, as they present their insurance solutions in a transparent way. Best Doctors Insurance’s advantage is that they provide clients with support from a medical team led by renowned specialists through its parent company Best Doctors Inc. Doctors who work with Best Doctors Inc. can deliver their recommendations beyond what a member’s own GP or specialists may provide, which is a reassuring benefit for clients of Best Doctors Insurance who want to make sure that their diagnosis is correct. Especially since this “Inter-Consultation” feature will remain a prominent piece of Best Doctors Insurance’s offering.
Beyond Bermuda, Best Doctors Insurance currently has offices in Canada, Ecuador, and the United States. No doubt Best Doctors Insurance clients will be happy to know that they will now have better access to coverage in the Asia-Pacific, Europe, and Middle East regions, where Now Health International has steadily been gaining ground as a major player in the IPMI market since it was founded.
A great fit
There are a number of factors that need to align in order for an acquisition of this sort to take place, but the biggest ones that lead to success are both the common values that each company share, and how well each company’s services complement each other.
Both Now Health and Best Doctors Insurance espouse the values of innovation, customer-friendly service, and caring about people. These common traits made it easy for each company to approach one another about a potential partnership.
For companies offering IPMI, having a global reach is important not only for capturing market share, but also for the peace of mind of members. They want to know that they will have great insurance coverage no matter where in the world they go. Geographically, the combination of Now Health International and Best Doctors Insurance creates a network that will ensure that virtually anywhere either insurer’s clients go, there will be an insurance office nearby to provide knowledge and support whenever it’s needed. What’s more, Now Health’s expansive network and Best Doctors Insurance’s second opinion services create a very unique combined offering that will make them attractive to anyone searching for IPMI.
To find out more about Now Health International or Best Doctors Insurance, contact the knowledgeable agents at Pacific Prime, or use our online tool to get a free quote and compare Now Health’s plans to that of other insurers. Our helpful staff is standing by to guide your quickly and easily through the process of obtaining the perfect insurance plan for you, your family or your business.