Medical tourism: an insurer’s perspective

 24-Oct-16, International Hospitals & Medical Tourism 

The world is getting older, richer and more connected all the time. Medical technology is getting harder for national health systems to fund adequately. There are enormous variations between countries in the quality of care that is available.

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It is therefore no surprise that the number of people who travel across international borders in order to access medical treatment (medical tourists) is more substantial with every year that passes. This market is significant and fast-growing, rising at 15 to 25 per cent a year depending on the region.

A related phenomenon: the rise in demand for insurance products that include coverage for cross-border medical treatment. This is mostly ‘bottom-up’ demand from local nationals who are upgrading from a local health insurance policy that covers only domestic treatment.

AXA launched a health insurance product in Indonesia at the end of 2011, the first of its kind. It has been growing at 35 per cent a year since then, with no signs of slowing down. 

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