Steven López
Head of Operations LATAM
Pacific Prime
View from the Top

Technology, Global Knowledge Key to Better Insurance Penetration

Mon, 02/11/2019 - 16:14

Q: What makes Pacific Prime the ideal adviser for companies in Mexico?
A: Pacific Prime is an insurance adviser that offers local insurance solutions and a wide range of health plans for individuals, families and enterprises all around the world. In Mexico, the company specializes in major and minor medical expenses, although we cover other niches like business and life insurance. While Pacific Prime has a global and scalable model, better than Asia, Mexico offered the ideal platform to first cover the entire country and then expand into other countries in the region. Mexico, Brazil and the US are our main market targets in the Americas but Mexico is going to be the central subsidiary for Pacific Prime on the continent.
Q: What differentiated benefits do you offer in Mexico compared to local brokers?
A: The main differentiator is that Pacific Prime has a global reach, while local brokers have a more limited scope. Mexican brokers might know a lot about the market but normally they only have local reach and lack the knowledge to operate outside the country. Pacific Prime offers insurance to over 3,000 companies including many multinationals, SMEs and international schools, the latter being our main target and the main source of our revenue.
Pacific Prime’s completely digital model and our global presence are what makes a difference for our clients. Through its digital platform and specialized sales team, the company is able to reach the medium and high socioeconomic segments in Mexico. All our products are designed to compete in the international market, which is why the products are marketed to reach clients with a higher purchasing power. Mexico is among the countries with the most expensive private treatment, which makes our offering highly attractive for the national population.
Q: Besides Bupa Global, what other international and national partners do you have in Mexico?
A: Pacific Prime has partnerships with over 40 companies around the world, the most representative being Bupa Global, Allianz Worldwide Care, Cigna Global, Aetna, AXA, MSH and Ping’An. Unlike other players that get more bureaucratic as they evolve from a midsize to an international operation, our fast and efficient services allow us to work with the biggest companies around the world, together with our centralized operations to provide better customer service.
Q: How can having a health plan translate to improvements in an international school plan for business development?
A: International schools work differently than companies. They have different holiday schemes and the characteristics of a professor as an employee are also very particular. Other insurers tend to generalize international schools and treat them as any other company with employees. In comparison, Pacific Prime has a clear understanding of how schools work, their academic calendar, dynamics, holidays, budgets and more. The greatest added value for any school that wants to hire Pacific Prime’s services is that we know how their business works and our solutions will contribute to enhancing their development.
Q: What makes Pacific Prime the best option for expats in Mexico?
A: Originally, Pacific Prime emerged as a solution for expats who required insurance services, so the company has relevant expertise in offering comprehensive international health policies to this segment in Mexico and anywhere else in the world. As economies grow stronger and global migration increases, there is a greater demand for insurance companies to address international needs. Pacific Prime will continue to be the best option for those expats who need portable, flexible and tailor-made policies.