Allianz taking over majority of Aetna's international health plans (2024)

Allianz Partners has signed an agreement to take over Aetna International's health insurance portfolio outside the Americas and India. Allianz Ayudhya has also acquired 100 percent of Aetna Thailand.

The Paris-based payer is taking an undisclosed number of Aetna employees to help ensure a smooth transition, according to a May 24 news release.

Members will migrate to Allianz at their policy renewal date, with migration plans in place over the next 12 to 16 months. Brokers and policyholders will be provided with new, comparable policies around 6 to 8 weeks before their renewal date, which begins in July. New customers will be offered policies that match or exceed their current plan. Brokers will receive the same services previously offered by Aetna, and Allianz will also support a pause on underwriting for migrating clients already on those terms. There will also be a free enhanced well-being offering that includes comprehensive coverage of chronic conditions, a second medical opinion, oncology case management and a digital health checkup for preventive care.

Allianz Partners has created a new version of Aetna's Summit product, which will be available to migrating SME Summit and new customers.

Aetna International policyholders do not need to do anything at this stage. Existing coverage and support services remain in place, and members will be contacted in advance of their renewal date.

Allianz taking over majority of Aetna's international health plans (2024)

FAQs

Allianz taking over majority of Aetna's international health plans? ›

Allianz Partners has signed an agreement to take over Aetna International's health insurance portfolio outside the Americas and India. Allianz Ayudhya has also acquired 100 percent of Aetna Thailand.

Is Allianz any good? ›

Yes, Allianz is a reputable company. Allianz, the parent company of Allianz Global Assistance, has a history that spans more than 100 years.

Who is taking over Aetna? ›

CVS Health Completes Acquisition of Aetna, Marking Start of Transforming Consumer Health Experience. WOONSOCKET, R.I., Nov.

What is Allianz Global Assistance? ›

Allianz Global Assistance is a world leader in the travel insurance and assistance industry because we really do help people—anytime, anywhere. As a principal provider of travel insurance, corporate assistance, and concierge services, we can help our customers find solutions to any travel-related problem.

Does Allianz cover medical? ›

The Allianz Care plans include in-patient and day-patient care, medical evacuation and oncology case manager services. Members also have the option to add out-patient care, dental, maternity and repatriation. Allianz Care has three plan levels, Care, Care Plus and Care Pro.

What is Allianz weakness? ›

Allianz Weaknesses

Heavily dependent on automobile market. Stiff competition with other major players.

Does Allianz pay claims? ›

Once we have all the information required, we can process and pay a claim within 48 hours.

Did Allianz buy Aetna? ›

Allianz Partners has signed an agreement to take over Aetna International's health insurance portfolio outside the Americas and India. Allianz Ayudhya has also acquired 100 percent of Aetna Thailand.

Is Aetna being investigated? ›

Insurance Commissioner Dave Jones issues statement confirming Aetna investigation. SACRAMENTO, Calif. — "I have directed the California Department of Insurance to open an investigation of allegations regarding Aetna's practices in denying claims and requests for prior authorization for care.

Why did CVS buy Aetna? ›

CVS Health to Acquire Aetna; Combination to Provide Consumers with a Better Experience, Reduced Costs and Improved Access to Health Care Experts in Homes and Communities Across the Country. WOONSOCKET, R.I. and HARTFORD, Conn., Dec.

What is Allianz best known for? ›

Allianz (/ˈæliənts/ AL-ee-ənts, German: [aˈli̯ants]) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses is insurance and asset management. Allianz is the world's largest insurance company and the largest financial services company in Europe.

How long does it take Allianz to pay out? ›

Upon receipt of the completed claim form packet and certified death certificate, the Allianz Claims department will evaluate your claim within 10 business days (or within applicable state requirements). Depending on the option selected, payment will be sent to the beneficiary.

Will Allianz refund my money? ›

For a full refund of your premium, you must cancel within 15 days of your plan purchase (depending on your state of residence) and must not have filed a claim or departed on your trip. Premiums are non-refundable after this period.

Why choose Allianz? ›

We offer you maximum peace of mind and security once you take out a trade credit insurance. As part of the Allianz Group, Allianz Trade is a financially stable and exceptionally reliable partner. Allianz Trade has an AA- rating from Standard & Poor´s. We put a dedicated team at your disposal.

What does Allianz travel insurance not cover? ›

Claims due to known, foreseeable, or expected events, epidemics, government prohibitions, warnings, or travel advisories or fear of travel are generally not covered (coverage can vary by state.)

Does Allianz cover pre-existing conditions? ›

To be eligible for pre-existing condition coverage, you must: Be a U.S. resident. Insure the full nonrefundable cost of your trip within fourteen days of paying your first trip deposit. And be medically able to travel when you purchase your policy.

Where does Allianz rank? ›

Among the fastest growing global brands, Allianz moved up three positions to rank 31 in the overall Interbrand ranking of the top 100 global brands. “Our position in the Best Global Brands ranking is the strongest ever.

What rating does Allianz have? ›

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Allianz SE (Allianz) (Germany) and its rated subsidiaries.

Is Allianz an ethical company? ›

Company recognized by Ethisphere for the fifth year in a row for commitment to business integrity. MINNEAPOLIS – March 4, 2024 – Allianz Life Insurance Company of North America (Allianz Life) has been recognized as one of the 2024 World's Most Ethical Companies® by Ethisphere for the fifth year in a row.

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