SINGAPORE - Media Outreach Newswire - 5 September 2024 - MSIG Asia ("MSIG") is pleased to announce a new regional partnership with Serenity Health Partners ("Serenity"), founded by respected industry veterans Jonathan James and Derek Goldberg. The collaboration aims to redefine the health insurance landscape by bridging the gap between local health insurance products and International Private Medical Insurance (IPMI), offering a unique blend of comprehensive yet affordable coverage. To demonstrate its commitment, MSIG has invested in Serenity as a major shareholder. This investment highlights MSIG's confidence in Serenity's vision and reinforces its dedication to the long-term success and innovation of the partnership. The healthcare segment is a top growth initiative in MSIG's long-term strategy for the Asia region. To set the pace, this partnership will launch in Singapore, followed by expansions into emerging markets, Indonesia and Vietnam in the following year. Pending necessary approvals from the regulator, MSIG Singapore will appoint Serenity as its underwriting agent for a targeted segment of health business in Singapore. Insights into the health insurance industry in Asia The health insurance industry currently faces a critical disparity: local products often provide limited coverage and service quality at lower costs, while IPMI offers extensive international benefits and coverage at a higher price. To bridge this gap, Serenity has introduced Regional Private Medical Insurance (RPMI), a brand-new segment designed to merge the benefits of both local and global insurance strategies. RPMI features tailored domestic plans with cost-effective benefits, an optimised medical network, and premium service capabilities, providing solutions that meet the unique needs of each core market across Southeast Asia initially. What sets RPMI apart is the enhancement of domestic plan services, network coverage, benefits, and limits across an extensive regional footprint of local licenses, integrated with regionally harmonised value-added services and technology. Supported by Serenity's deep understanding of regulatory and cultural nuances, as well as regional expertise and economies of scale from its partners, the Serenity value proposition enables strategic optimisation across all locations. Additionally, Serenity leverages advanced insure-tech to enhance policy management, onboarding, online app usage, and claims data analytics, improving accessibility, efficiency, and responsiveness for members and partners. This initiative comes at a time when markets in Asia are poised for growth, driven by increasing health awareness and a burgeoning middle class. Singapore shows a rising demand for flexible insurance plans encompassing various healthcare needs, including outpatient care, wellness initiatives, mental health coverage, and alternative treatments. Indonesia's market is bolstered by growing outbound medical tourism, while Vietnam's growth is driven by escalating medical costs, ongoing healthcare reforms, and heightened health awareness among the population. Serenity: Committed to advancing stability and integrity in health insurance Serenity is committed to guiding its clients towards holistic health, combining stability, adaptability and passion to achieve balance and overall well-being. This mission drives the company's three core principles:

• Making insurance accessible: To tackle the challenge of rising medical costs, Serenity is committed to offering customers predictable rates. By applying advanced expertise in product design, underwriting, and claims management, the team implements robust cost containment strategies to maintain stable pricing and support overall stability in health insurance. This approach contributes to the sustainable development of society by ensuring that essential health coverage remains accessible and affordable.
• Transparency and accountability: At Serenity, transparency and trust are prioritised through clear policy language and dependable claims payments. The company's commitment to integrity fosters a positive experience for both partners and customers.
• Integrity and professional responsibility: The Serenity team upholds the highest legal and compliance standards in protecting individuals and maintaining market integrity across Asia's health insurance sector.

The strategic partnership highlights MSIG's dedication to advancing insurance solutions for its clients throughout the region. It also underscores the mutual commitment of both MSIG and Serenity to accelerate growth amidst the evolving insurance landscape. SERENITYplus: Redefining health...