Full-time telework, freelancers… The profile of people going abroad has changed and forced specialist brokers such as International Santé to adapt their coverage.
The pandemic and changing working methods have had a significant impact on players such as International Santé, a broker specializing in the social protection of expatriates. Contrary to the image that we have of it, most expatriates do not go abroad with concrete coverage paid for by their employer.
More than a third of them had this profile in 2003, they are only 10% today. The majority, ie 59% of French people who go abroad, are hired with a local contract and 31% are self-employed. 9 out of 10 expatriates must therefore seek individual social protection coverage.
Casualization of expatriates
Another important characteristic is that only 56% of them have incomes above 36,000 euros, compared to 69% in 2013. This impoverishment of expatriates is to be taken into consideration by insurers and brokers who market social protection solutions. Especially since the average price of complementary health insurance for expatriates is 3,200 euros per year on the International Health site, i.e. an average basket 20% lower than market standards.
When they leave, 24% of French people have no health insurance, 86% no welfare cover and 48% no pension plan, according to a 2019 Malakoff Humanis survey. It is essential to have health insurance because in some countries, you cannot have access to care without health insurance because hospitals want to be sure of being paid. A person with diabetes incurs 20,000 euros in healthcare costs abroad and a day in intensive care can cost up to 20,000 euros in some countries.explains Raphaël Reiter, founder of International Santé. For us, it is important to preserve French-style social protection despite the precariousness of expatriate status “.
International Santé covers 13,000 expats and received 7 million euros in premiums in 2021, an annual increase of 20%. To support changes in the profile of expatriates, the broker is launching The French Assurance, health insurance for first-time expatriates. During the first months of expatriation, 6, 12 or 18 months, it is a temporary insurance “which does not exclude people who get sick“, with reduced premiums. Afterwards, the contract switches to a classic expatriate contract.
This contract with medical selection before subscription has the particularity of allowing termination during the year, including during the first year. Certain guarantees, such as optical and dental, have a waiting period, but this does not apply to routine care or hospitalization. The insurer of The French Assurance is Generali Equity.
This contract is also intended for employees who leave to telecommute abroad during a temporary stay. Indeed, some countries such as the United Arab Emirates or Mauritius have created a telework visa and attracted many French people. The United Arab Emirates have become the fourth favorite destination for French expatriates in 2021 and Mauritius comes in 14th position, according to the International Health ranking.
In addition, the broker announces the launch of the Wisexpat site, a health insurance review site for expatriates. To feed it, the broker will mobilize its customer base and also intends to rely on the Union of French Citizens Abroad (UFE).