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Solutions - Travel Insurance

Aside from providing capacity on Out-of-Country Travel for both individual and group coverage, our clients also receive the following value-add services as part of a comprehensive reinsurance package.

Market knowledge 
As a market leader Optimum Reassurance strives to remain abreast on all market trends and industry and legislative changes. All relevant market and industry information in our comprehensive database is shared with our clients on an ongoing basis.

Out-of-Country Travel Seminar 
Optimum Reassurance has been offering Out-of-Country Travel seminar since 1998. The full-day seminar, with upward of 125 attendees, addresses topics of interest to all insurance managers, sales advisors and other stakeholders who are involved in the travel insurance market. We vary our topics at each seminar in order to provide attendees relevant up-to-date information for their daily operation of the business and to offer insights into the driving forces of change. Ultimately, our objective is to contribute to the on-going knowledge base so as to encourage sound business practice in the Out-of-Country Travel market.

Travel Assistance and Active Claims Management 
Over the years, Optimum Reassurance has been providing assistance to our clients in all aspects of their Out-of-Country portfolio including contract redesign, review of travel assistance arrangements, underwriting techniques, experience assessments and, above all, analyzing and improving the claims management procedures. The latter is very much appreciated by our clients as a value-add service.

Pricing 
Optimum Reassurance has developed a comprehensive pricing model for determining premium rates for various components of travel insurance product. Our model utilizes a proprietary database for determining the claims frequency assumptions and other key parameters including efficiency of the claims and assistance operations, repatriation, currency exchange rate, inflation rate etc.

Catastrophe Coverage 
Catastrophe Coverage offers protection of an insurer's retained claims based on an event that involves multiple lives. As each insurer has its own risk tolerance level, we work with our clients to provide a catastrophe program that is unique to their needs.

Out-of-Country Travel

We offer reinsurance solutions for the following specialty risks:

Group Referral 
Certain group insurance products may provide out of country insurance benefits if the person insured is referred by a doctor for a medical treatment not available in Canada. We offer reinsurance solution with a suitable framework to cover such benefits.

Expatriates 
An expatriate is an employee sent by his or her employer to work in a foreign country. We can provide reinsurance solutions to expatriates anywhere in the world. We have the knowledge and unique expertise to offer an appropriate level of coverage and service, as well as managing the complex repatriation process in many different countries.

Foreign visitors 
Inpatriate Health insurance provides foreign visitors, new and returning Canadians, and their families with temporary coverage during the waiting periods required to satisfy the residency requirements for provincial health insurance plan. We can provide reinsurance solution for this coverage.

U.S. Local Nationals 
A challenging area for Canadian insurance companies is providing medical coverage for their American employees who are living and working in the U.S. The difficulties typically range from making the proper risk assessment to offering a satisfactory level of local services to these employees in addition to conforming to the complex state and federal legislation.&nbsp;

Specialty Risks

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