10 February 2014
Now Health International, the international health insurance provider today announces the opening of their latest operation in Singapore.
The new range of admitted plans are available to both individuals and companies, and the proposition is not only available to the expatriate community, but also to Singaporean local nationals.
Now Health’s underwriting partner in Singapore is Tenet Sompo Insurance Pte. Ltd. Tenet Sompo Insurance was established in January 2013 when Tenet Insurance Company Ltd merged with Sompo Japan Insurance (Singapore) Pte. Ltd. In January 2014, Tenet Sompo Insurance further merged with NIPPONKOA Insurance Co., Ltd., Singapore Branch, by acquiring its general insurance business to form an even larger entity in Singapore. Tenet Sompo Insurance has been a part of the Singapore history since 1957 (as Tenet Insurance), while Sompo Japan group and NIPPONKOA Insurance Group have their histories stretching back to 1888 and 1892 respectively.
The Tenet Sompo underwritten product in Singapore is based on Now Health's pre-March 2014 WorldCare plan with four different levels of cover: Essential, Advance, Excel and Apex.
The annual maximum benefit limit for all plans is USD 3m and in addition, there is also an additional option for customers to have hospital treatment within Singapore and Hong Kong in a semi-private room and receive a 5% discount.
CEO Martin Garcia commented, ‘As with all of Now Health’s other regions, Singapore-based customers will benefit from Now Health's unique service promises and award-winning online tools to administer their plan. And all global members can also enjoy the local support provided by our Singapore branch and the expanded cashless network while they are visiting Singapore.’
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