Expats in Singapore can now buy international private medical insurance (IPMI) from Bupa International, thanks to a partnership agreement with Singapore-based International Medical Insurers (IMI).
Singapore represents one of Asia's main international business hubs and is home to around 550,000 expatriates, representing some 12% of the population. Bupa International has been looking to enter the market for some time to provide corporate and individual customers with IPMI products tailored to their needs.
Thanks to its new partnership with IMI, Bupa International's IPMI products are now available in Singapore in line with local legislation. Under the new agreement, Bupa International's policies will be dual branded - carrying both the Bupa and IMI names - and IMI will collect premiums locally from customers.
Ray Bond, Head of Sales for Asia Pacific at Bupa International says: "As an international business centre, Singapore is home to a very large community of expats and offers huge market potential for IPMI sales. We have been looking at the market for some time and in IMI, we have found a partner who can help us deliver products that will meet the specific needs of expats living and working in Singapore."