Types of International Schemes

Multinational pooling schemes

Multinational pooling schemes are designed to link worldwide employee benefits of a multinational employer. The employer can pool most benefits such as, Group Life, Critical Illness Cover, Accident Insurance, Incapacity Insurance and Medical Insurance. The experience of individual groups under local contracts is therefore merged into one combined risk without any disruption at local level. 

Advantages of multinational pooling scheme are improved terms and conditions, substantial cost savings since a larger base is serviced. Apart from this, having a single point contact to co-ordinate the worldwide benefit programme helps maintain consistency in the service rendered.

Reinsurance to Captive Company

This scheme is one step ahead than a pooling arrangement. Local contract can be insured with local network subsidiaries and then partially or fully reinsured to the Captive Company, which is owned by the Parent Corporation. To finance risks of the parent Corporation and its subsidiaries, we need a minimum of 3,000 employees and $1,000,000 annual premium.

Pan European Underwriting System

These scheme enables consolidate the experience underwriting to the collective risk. Local contracts will be issued with a global unit rate. This scheme is only applicable to schemes throughout the European Union. We need a minimum of 500 lives to provide this scheme.