Kwiksure to Sell New Comprehensive Medical Insurance Plan as Cigna Enters Hong Kong Market

Kwiksure to Sell New Comprehensive Medical Insurance Plan as Cigna Enters Hong
                                 Kong Market

The Hong Kong medical insurance market, closely monitored by leading insurance
providers Kwiksure, is witnessing an increase in new medical insurance plans
entering the Hong Kong sector.

PR Newswire

HONG KONG, Nov. 30, 2012

HONG KONG, Nov. 30, 2012 /PRNewswire/ --The Hong Kong medical insurance
market, closely monitored by leading insurance providers Kwiksure, is clearly
witnessing an increase in new medical insurance plans entering the HK sector
from global insurers including AXA, Zurich and Cigna.

Pressure placed on the HK Public health system has provided an opportunity for
insurers to grow. However, while most health insurers have shown promise,
Aviva unexpectedly pulled out of the field 12 months ago, leaving
policyholders without coverage and with pre-existing conditions considered
uninsurable by new providers.

Cigna, on the other hand, is making positive moves and Kwiksure's Hong Kong
based customers will soon benefit from a new 'HealthFirst Elite' plan that
offers unique features including lifetime renewal and community rated
premiums. Community rating requires premiums to be based on the entire claims
experience of all policyholders under the plan. Lifetime renewability is an
attractive addition, rarely featured in local plans which usually terminate
when policyholders reach age 65.

Kwiksure clients paired with Cigna policies will also gain outpatient,
maternity, dental and wellness benefits under the new plan, with a 50 percent
discount on premiums for children, influenza vaccinations up to HKD$3,000 and
promise of a 'no waiting period' for medical checks. Furthermore, non-smoking
policyholders will receive a 10 percent discount. Underwriting in this way is
highly unusual in HK and Kwiksure recognizes that Cigna's financial strength
has enabled these benefits to be made available.

Mr Christian Moore, sales manager at Kwiksure, commented: "We are seeing a lot
of new entrants into the Hong Kong medical insurance market from big branded
global insurance companies, but the Cigna plan does look to be a good new
option for local and expat residents."

Kwiksure analysts measure the Elite plan to be 20-40 percent more expensive
than current local options, yet 20-30 percent cheaper than international
medical plans offered by Allianz, IHI and Bupa International. The
discrepancies in cost may cause concern for some but with benefits such as
community rating and lifetime renewal, Cigna's latest plan is very good value
for money and will be a positive addition to the Hong Kong market.

SOURCE Kwiksure

Contact: Holly Booth, Kwiksure, 3589 0508