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The Future of International Travel and the Role of Insurance

March 11, 2017 Headline News, Insurance No Comments Email Email

Shifts in the global environment will continue to impact demand for international medical insurance products and services in the next five years and beyond.

The latest white paper from International Medical Group® (IMG®) addresses several key trends shaping the industry, including increases in international tourist and expatriate populations, market disruptions, stricter regulations and rising global health care costs.

Drawing from global data and market insight, “The Future of International Travel and the Role of Insurance” reveals the opportunities and challenges facing the industry, and how international medical insurance brokers play an increasingly important role in consumers’ lives.

“The future of the industry will be marked by rapidly changing consumer preferences,” said IMG President and CEO Todd A. Hancock. “Brokers are essential in identifying these emerging market demands. They are in the market every day, serving as an advocate for consumers and a voice for IMG.”

Millennials, in particular, are poised to disrupt the status quo of the insurance industry, requiring providers and brokers to meet them wherever they are, and to offer a convenient and comprehensive solution to their coverage needs. Addressing the “Millennial mentality” will force the industry to rethink the way many products and services are currently structured and sold.

“Now the largest living generation, Millennials pose new challenges for the insurance industry,” Hancock said. “Compared to previous generations, Millennials’ expectations are more sophisticated and complex as a result of their affinity for convenience, digital connectedness and on-demand access to information.”

As evidenced in IMG’s white paper, the international medical insurance industry is poised for growth, driven by strong trends and an increasingly connected world. The providers and brokers who come out on top will be ready to face a future of change, and prepared to adjust to the needs of the global market.

Are you prepared for the future? Get the data and insights you need to succeed. Download the white paper today.

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