Arch Insurance’s Accident & Health business unit has introduced its new Individual Supplemental Health product suite, designed to assist individuals in managing out-of-pocket medical expenses not typically covered by major medical plans. This includes costs such as deductibles, co-insurance, and out-of-network charges, providing an additional financial layer for unexpected health events.
The new product suite offers a variety of benefits, including Accident Medical Expense, Hospital Indemnity, Critical Illness, and Accidental Death coverage. These products are available to a broad spectrum of individuals, including employees, independent contractors, gig workers, and association members.
A key feature of the new offerings is the absence of medical underwriting requirements, coupled with full portability, allowing policyholders to retain their coverage even with job or life changes. Arch’s digital technology supports partners in generating quotes and completing enrollments efficiently, often within minutes.
Sales and customer service support for both partners and clients are provided by Arch’s fully licensed call center. Jim Villa, Senior Vice President, Arch Accident & Health, stated, “By offering access through our APEX™ digital platform or seamless API integration, we’re making it easier than ever for our distribution partners to deliver these products efficiently and effectively to their clients.”
Arch Accident & Health is a provider of insurance solutions, emphasizing technological advancements and client support. Arch Insurance North America, which is part of Arch Capital Group Ltd., encompasses Arch’s insurance operations in the United States and Canada, with U.S. business underwritten by Arch Insurance Company, Arch Specialty Insurance Company, Arch Property & Casualty Insurance Company, and Arch Indemnity Insurance Company. Canadian business is underwritten by Arch Insurance Canada Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted company, reported approximately $22.1 billion in capital as of March 31, 2024. The company provides insurance, reinsurance, and mortgage insurance globally through its wholly owned subsidiaries.
