We’ve asked major health care and IPMI providers in Thailand for their own expert insights about the impact of the recent attacks in Bangkok in the medical and insurance industry and we’ve discovered that unlike the expat community in the country, the IPMI and medical community have different opinions about this incident, and it has sparked concern about the future outcome of this event in terms of business in the country.
APRIL Assistance (Thailand) ‘s CEO, Alan Chun says, “The Thais are saddened by the event and knows that it will affect them economically. Tourism arrivals are likely to fall coming this high season (end of the year ). Similarly, it will affect our assistance business. Lower tourist arrival inevitably will result in lower number of assistance request.”
MSH-International’s Business Development Manager, Jean Borderie however, looks at the incident in a different light. “To be honest we are not worried about this, there is no impact on our business whatsoever. People were scared for about 1 or 2 weeks, but after that, even the Thai locals are not very concerned. For us, as unfortunate as it is, it is rather a good opportunity for the IPMI business as expats in the country who are not insured will be more inclined to get insured. This mostly has an impact on insurance companies that target Chinese Medical Tourists as they are the only ones greatly affected in terms of tourism and safety in the country. American and European expats are not really affected by it.” said Mr. Borderie
The incident accidentally highlights the need for assistance services especially when travelling or living abroad, so for expats currently in the country, the incident can push them towards IPMI products in the short term, whereas when it comes to new business and incoming expats to Thailand, it could be quite damaging as safety in the country has just been greatly questioned through this tragedy.
Photo by: Tommy Dale