NowCompare.com, the World’s first international health insurance comparison website has also become the first to place discounts on the cost of expat insurance.
Expatriates around the World are used to the cost of their health insurance going up each year; however, with the launch of NowCompare’s online discounts, they can finally save money.
Typical savings are around 30% with further discounts being applied that have been taken from the commissions that would ordinarily be paid to an insurance broker.
Insurance broker commissions have often been the cause of much debate between consumers, regulators and brokers with many believing that the amount given to brokers is excessive and undeserved. Often broker commissions can account for around 50% of premiums paid by expats and commissions will often be paid to the broker each and every year whether they have provided further services or not.
By having lower administrative costs than a traditional broker and by being the largest expat insurance comparison website, NowCompare.com has taken the opportunity to create savings for consumers by reducing the commissions they would receive from insurance companies and turning them into online discounts.
Today, only expats in Hong Kong can take advantage of these savings, however, NowCompare plans to roll these out globally over the coming months.