Toronto – We are excited to announce the launch of the Medical Reimbursement Training Program, a key initiative under our Health Strategy for 2025. This program is a critical step to deepen our health expertise across the region, enabling us to move faster and continue offering sustainable health products to our customers.
Health insurance and life insurance have different drivers and this initiative provides additional focus on health.
Program Overview: The Medical Reimbursement Training Program introduces 7 Standards of Practice (SOPs), which outline guidelines and best practices for medical reimbursement products. This initiative aims to ensure cross-functional alignment and deepen content understanding, enhancing our collective ability to deliver innovative and sustainable health products.
Here are the seven SOPs:
The Health Product Lifecycle
Medical Reimbursement Plan Design Considerations
Medical Reimbursement Assumptions
Medical Reimbursement Pricing/Renewal Pricing
Claim Experience Monitoring Standards
Medical Reimbursement Operations Implication
Health Distribution Training
“Consider these SOPs our playbook to move faster. As a life insurer, we play a crucial role in offering this protection sustainably for future generations.”
- Greta Mikelonis, Head of Health Risk & Actuarial, Asia
Target Audience: Our stakeholders include markets where these products are offered or will soon be available: Hong Kong, China, Vietnam, Indonesia, Malaysia, and the Philippines. There will also be a session for regional office colleagues. Functions involved in this initiative are distribution, product, pricing, finance, risk, actuarial, operations, in-force management and analytics.
Timing: Initial training sessions are occurring from the end of February through April and will cover experience monitoring, product design, assumptions and pricing specifics. Additional sessions will continue through Q2 and will be capped by additional capabilities/gap analysis.
