International Medical Group And Ping An P&C Insurance Company Of China Ltd Launch GlobalSelect International Healthcare Plan In China

Main Category: Health Insurance / Medical Insurance
Article Date: 30 Jun 2008 - 2:00 PDT

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International Medical Group®, Inc. (IMG®) is pleased to announce the launch of Ping An GlobalSelect® International Healthcare, an international healthcare plan that is modeled after IMG's successful GlobalSelect® plan and tailored for the domestic Chinese market. The product is available for distribution through insurance brokers in China and is fully approved by the China Insurance Regulatory Commission. IMG joined with Ping An P&C Insurance Company of China, Ltd (Ping An), one of the leading insurance companies in China, in developing this innovative product.

"Ping An GlobalSelect is one of the most flexible plans available in China," said Joseph Brougher, President of International Medical Group. "Because the product can cover expatriate and local nationals who are internationally mobile makes it unique in the market. We have taken the innovative features of our GlobalSelect product, fine-tuned them for the Chinese market, and supported them with multilingual customer service and medical provider networks. More and more expatriates are located in China and likewise many thousands of Chinese are working, living or traveling overseas.

"We have worked closely with Ping An in the development of this unique product, and we are pleased with the relationship we have with them," added Joseph Brougher. "Having a major national insurer means both IMG and Ping An's mutual broker networks can offer fully approved medical coverage throughout China and beyond."

The program contains four sub-plans offering a wide choice of benefits. It is available for individuals, families and corporate groups of two or more employees living, working or traveling worldwide. Additionally, the program can cover expatriates and internationally mobile local nationals looking for international coverage. Unlike several other plans, following a two year waiting period, declared and accepted pre-existing conditions can also be covered under Ping An GlobalSelect.

"There is a considerable demand for this type of product in China," said Mr. WuPeng, General Manager of Ping An P&C Insurance Company of China, Ltd. "We chose to work with IMG because it's a recognized global leader in this field and its philosophy of providing superior coverage and customer service was an excellent fit with our own similar corporate values. Our network of over 4,000 national branches and very strong Chinese insurance brand work exceptionally well when combined with IMG's reputation as worldwide leader in the administration of global health care benefits."

With highly competitive premiums available in Renminbi (RMB), the program provides some of the widest and highest levels of coverage available in China. Documentation is available in both English and Chinese and from Ping An branches throughout China. In addition to IMG providing services outside of China, the program is backed by local Chinese-speaking support, claims administration and customer service.

About International Medical Group, Inc. (IMG)

International Medical Group, Inc. (IMG)is a worldwide leader in designing, distributing and administering global healthcare benefits. IMG's international reputation for excellence has been established by providing medical and relevant insurance products to individuals, families and groups in more than 170 countries.

Since 1990, IMG has served over 500,000 clients worldwide including vacationers, business executives, missionary groups, entertainers, Fortune 500 companies, schools and universities, professional marine crew, expatriates and local and third country nationals. IMG is based in Indianapolis, Indiana USA. Its companies also include IMG Europe Ltd, Akeso Care Management®, iTravelInsured®, and IMG-Stop LossSM. IMG's family of companies is committed to meeting the unique needs of its international clientele.

About Ping An

Ping An is the first integrated financial services conglomerate in China that blends its core insurance operations into securities brokerage, commercial banking, asset management and enterprise annuities to create a highly efficient and diversified business profile. It was established in 1988 and headquartered in Shenzhen, Guangdong Province, China.

Ping An provides financial services including insurance coverage, investment and wealth management for more than 38 million individual clients and more than two million corporate clients. Ping An is committed to build a globally competitive, fully integrated professional services operation with its good corporate governance structure, international management team, cohesive corporate culture, strict risk control system, quality products, services and marketing.

Annually, the School of Medicine trains more than 600 M.D. and M.D./Ph.D. students and ranks in the top 25 among U.S. research-oriented medical schools as designated by U.S. News and World Report Guide to Graduate Education.

The School of Medicine's primary clinical affiliate is University Hospitals Case Medical Center and is additionally affiliated with MetroHealth Medical Center, the Louis Stokes Cleveland Department of Veterans Affairs Medical Center, and the Cleveland Clinic Foundation, with which it established the Cleveland Clinic Lerner College of Medicine of Case Western Reserve University in 2002.

International Medical Group, Inc. (IMG)