Mercer Short Duration Fixed Income Fund Class Y-3 · NASDAQ:MSDYX
Mercer Short Duration Fixed Income Fund Class Y-3 — Mercer Marsh Benefits — MMB Multinational Country Webinar Series (October 2021)
50 slides from Mercer Short Duration Fixed Income Fund Class Y-3's conference presentation, Oct 26, 2021
Slide 1: MMB Multinational Country Webinar Series
MMB Multinational Country Webinar Series October 26th, 2021 benefits that truly benefit
Slide 2: Today's Speaker
Today’s Speaker Anibal Rosas Gianna Santiago MMB Account Manager MMB Director International Referral IBD GBM leader Panama Dominican Republic • Account Manager for Multinational Clients since • Director and GBM Leader for Mercer Marsh Benefits in 2016 and part of the IBD Team since 2018. Twelve Domi
Slide 3: Panama
Panama Anibal Rosas MMB Account Manager / IBD
Slide 4: Agenda
Agenda 1. Understanding the Market Environment 2. Social Security and Benefit Structure 3. Supplemental Employee Benefit Insurance 4. Typical Renewal Process 5. COVID-19 Situation Update 6. Mercer Marsh Benefits Capabilities 4
Slide 5: Understanding Benefits Market environment
Understanding Benefits Market environment
Slide 6: What comes to your mind when you think of Panamá?
What comes to your mind when you think of Panamá? 6
Slide 7: Panamá General information
Panamá General information o Capital City: Panama City o Language: Spanish o Current population: 4.4M o Life expectancy: 78 years o General inflation: 0.3% (Mar’21) o Currency: US Dollar o Unemployment rate: 5.8% (Aug’20) o Key sectors: • Wholesale and Retail • Transportation • Storage and Communica
Slide 8: Panamá Market Overview: Environment & Insurance regulations
Panamá Market Overview Environment & Insurance regulations Private Coverage • Insurance regulations? Organization regulating insured benefits? o Insurance is regulated by the Highly Valued Benefit Panamanian Insurance Superintendence (SSRP) • Common remuneration Medical Cost o Commission is the most
Slide 9: Panamá Market Overview: Environment & Insurance regulations
Panamá Market Overview Environment & Insurance regulations 2010 2011 2012 2013 2014 Total Healthcare Cost per Capita in USD 640.44 677.83 734.56 906.14 958.98 Total Healthcare spending as % of GDP 8.05 7.5 7.25 8.09 8.03 Public Healthcare spendig as a % of total Helathcare 70.21 67.85 68.62 71.78 73
Slide 10: Social security and Benefits Structure
Social security and Benefits Structure
Slide 11: Panama's Social Security Program Overview & Structure
Panama’s Social Security Program Overview & Structure Social security benefits are available for: Healthcare Maternity Sickness & Accident Funeral Old Age Pension Disability Death Allowance Occupational Accident and Disease Workers' compensation is covered under the social security system, all emplo
Slide 12: Panama's Social Security Program Structure
Panama’s Social Security Program Structure The following table shows social security spending as a total amount and as a percentage of GDP for the following five years available: Government Spending 2010 2011 2012 2013 2014 Social Security (USD Mn) 1,721.57 1,848.97 1,970.94 2,253.16 2,385.74 % of G
Slide 13: Supplemental Employee Benefits
Supplemental Employee Benefits
Slide 14: Most common benefits provided by Companies
Most common benefits provided by Companies Market prevalence | Insured Benefits 97% 97% 44% Life Program Medical benefit plan Dental care plan 25% 40% 14% Accidental Death & Dismemberment Check-ups Catastrophic Condition (additional coverage) (additional coverage) Source: Annual Benefit Inventory 20
Slide 15: PANAMA Supplemental/Typical Benefits
PANAMA Supplemental/Typical Benefits Eligibility (Employee) For All Eligible Employees Eligibility (Dependents) Spouse & Childs 81% pays 100% of Employee Cost Sharing (Employer) 35% pays 100% of Dependents 39% pays 0% of Dependents Outpatient, Inpatient, Maternity, ER, Critical Illness, Additional,
Slide 16: Market Prevalence
Market Prevalence Amounts in USD General Market Type of Policy Typical Benefit Granting Prevalence Based on times monthly salary 24 times monthly salary (over 65%) Group Life (Natural Death, High (97%) AD&D, TPD) Panamanian companies tend to base their benefit amount independent of the job level. An
Slide 17: Market Shared (Health Line)
Market Shared (Health Line) INSURANCE COMPANY RANK PREMIUMS % PREMIUMS RANK CLAIMS % CLAIMS CLAIMS RATIO % PREMIUMS CLAIMS PAN AMERCIAN LIFE INSURANCE DE PANAMA, S.A. 1 50,916,191.42 24.2% 2 34,223,429.21 21.6% 67.2% MAPFRE PANAM, S.A. 2 39,039,930.76 18.5% 1 41,928,282.62 26.4% 107.4% ASSA COMPAÑÍA
Slide 18: Pooling Partners
Pooling Partners POOLING PARTNER & LOCAL FRONTING
Slide 19: Most Common benefits provided by Companies: Non Insured
Most Common benefits provided by Companies Market prevalence | Non Insured Benefit 90.1% 90% Car & Motorcycle Parking Day of rest for death of 88% Access to machine for family member (direct or coffee | soda or water indirect) 84% 80% 84% Dining room in the work area Mobil Device Mother´s day celebr
Slide 20: Typical renewal process
Typical renewal process
Slide 21: Standard renewal process timeline
Standard renewal process timeline Renewal Strategy Definition Renewal Quote Request 10 – 12 weeks before Renewal Date 6-8 weeks before Renewal Date Client Decision [Insurer & Option Complete Renewal Recommendation Selection] 4 – 6 weeks before renewal date 4 weeks before renewal date at the latest E
Slide 22: Covid-19 updates
Covid-19 updates
Slide 23: Panamá Overview COVID-19
Panamá Overview COVID-19 PUBLIC SERVICE PRIVATE SERVICE Coverage Granting CSS (Exception) Public Health System COVID -19 Test (MINSA) (Applies condition) Automatic Health Operative Response Medical Treatment (ROSA) Telemedicine Telemedicine (ROSA) (TPP) 23
Slide 24: Country situation
Country situation The National Vaccination Plan against Covid-19 was presented on January 12, and sets out the priority phasing. REPUBLIC OF PANAMA VACCINATION PLAN PHASE 1 PHASE 2 PHASE 3 PHASE 4 • 450K doses of • 1,092,000 doses of • 300K doses of vaccines • 1,112,420 doses of vaccines vaccines va
Slide 25: Statistics in Panama
Statistics in Panama DATA UNTIL COVID-19 OCTOBER 10TH 2021 469k 7,267 459k Total cases: + 119 new Deaths caused by covid -19 Total people recovered : cases since 10-01-2021 + 3 new cases in the last +199 since 10-01-2021 24Hrs 10-01-2021 2,31M 53,6% Fully vaccinated represents the total population v
Slide 26: Mercer Marsh Benefits Capabilities
Mercer Marsh Benefits Capabilities
Slide 27: Local capabilities
Local capabilities • Employee benefit plan • Population analysis • Wellness Strategies • Psychological and consulting • Design and for Employees emotional care line - • Placement / Renewal implementation of Flexible • Health risk employee attention of the Benefit Plan Benefits Assessment program (ins
Slide 28: Dominican Republic
Dominican Republic Gianna Santiago, AVP Director / GBM Leader
Slide 29: Agenda
Agenda 1. Understanding Benefit Market Environment – Dominican Republic 2. Social Security and Benefit Structure 3. Supplemental Employee Benefit Insurance 4. Typical Renewal Process 5. COVID-19 Situation Update 6. Mercer Marsh Benefits Capabilities in DR 29
Slide 30: Understanding Benefits Market environment Dominican Republic
Understanding Benefits Market environment Dominican Republic
Slide 31: What comes to your mind when you think of Dominican Republic?
What comes to your mind when you think of Dominican Republic? DOMINICAN REPUBLIC 31
Slide 32: Dominican Republic General information
Dominican Republic General information • Capital City: Santo Domingo • Currency: Dominican Pesos • Language: Spanish SANTIAGO ZONA NORTE • Current population: 10.4 Million SANTO DOMINGO PUNTA CANA Y ZONA ESTE • Life expectancy: 73.89 years ZONA ZUR • General inflation rate: 5.21(2020)* • Medical Inf
Slide 33: Market overview: Environment Insurance Regulations
Market overview Environment Insurance Regulations • Public Health system is grounded in • Statutory benefits are pension plans, universality, solidarity, free choice, occupational risks and healthcare. equity, financial balance, is mandatory, and gradual. • Social security medical care is granted by
Slide 34: Market overview: Leading death causes
Market overview Leading death causes Coronary Heart Disease 1% Cancer 2% Stroke 2% 1% 2% Road Traffic Accidents 3% COVID-19 3% 24% Diabetes Mellitus 3% Influenza and Pneumonia HIV/AIDS 3% Kidney Disease Alzheimers & Dementia 4% May 1st 2021 Liver Disease Violence 4% 4% 72,9K Low Birth Weight Hyperte
Slide 35: Market overview: Social security loss ratio 2020
Market overview Social security loss ratio 2020 83 83 77 72 74 77 67 70 64 66 93 94 86 79 81 82 82 74 73 75 97 98 87 72 67 68 71 73 74 77 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT *ARS AUTOGESTION **ARS PUBLICAS *ARS PRIVADAS Source: Superintendencia de Salud y Riesgos Laborales (SISALRIL) statistics
Slide 36: Social security and benefits structure
Social security and benefits structure
Slide 37: Dominican Republic's Social Security Program Mandatory Benefits
Dominican Republic’s Social Security Program Mandatory Benefits Pension Plan Occupational Healthcare Risk Medical benefits (basic health plan): Guarantee to employees a Prevent and cover any Benefits include preventive, inpatient and pension higher than the minimum damage/injury caused by any outpat
Slide 38: Dominican Republic's Social Security Program Medical Service Scheme
Dominican Republic’s Social Security Program Medical Service Scheme PROVIDES COVERAGE EMPLOYER PAY GROUP POLICY MEDICAL SERVICE MEDICAL ATTENTION INSURED MANDATORY HEALTH PROVIDER PRIVATE HEALTH PROVIDER MEDICAL PROVIDER
Slide 39: Dominican Republic's Social Security Program Healthcare services provided
Dominican Republic’s Social Security Program Healthcare services provided 5% 0% Expenses 5% 0% Frequency 22% 7% 1% 6% 14% Labs & Special Procedures 6% Hospitalizations Surgeris Catastrophics Illness 46% DOP $29 B Prescribed Medications Other Services 12% 10% Medical Visits Emergencies 15% Maternity
Slide 40: Supplemental employee benefits
Supplemental employee benefits
Slide 41: Most common benefits provided
Most common benefits provided Market prevalence: Insured / Non-Insured Benefits 90% 90% 90% Life insurance policy Medical benefit plan Dental / Vision care under medical benefit plan 60% 48% 9.5% Car Allowance Check-ups Retirement plans Source: MMB Benchmarking 2019 / Encuesta Salarial 2020 41
Slide 42: Market Share Dominican Republic's insurance market
Market Share Dominican Republic’s insurance market Insurance companies Insurance policies Life – Healthcare (Private + SS) – Personal accidents Healthcare Life Personal accidents 2% 6% Humano Seguros 2% 4% Mapfre BHD / Salud 4% Seguros Universal 35% 44% 18% Seguros Reservas Seguros Worldwide, S.A. 6
Slide 43: Typical renewal process
Typical renewal process
Slide 44: Standard renewal process timeline
Standard renewal process timeline 4 - 3 months 2 months 1 month Renewal Date 3 weeks before Renewal Date before Renewal Date before Renewal Date after Renewal Date Pre-renewal Negotiation Renewal Recommendation Renewal date Post-renewal • Kick- Off meeting • Negotiate the most efficient • Renewal me
Slide 45: Covid-19 updates
Covid-19 updates
Slide 46: Dominican Republic's Overview COVID-19
Dominican Republic’s Overview COVID-19 General description: • Insurance coverage Pandemic is excluded from all healthcare insurance policies. Local legislation coverage is 100% during hospitalization through public and private medical insurance. • Covid -19 Test protocol: - Have an antigen tests (no
Slide 47: Dominican Republic's Overview COVID-19 timeline
Dominican Republic’s Overview COVID-19 Timeline total cases / death 2,414 2,666 3,100 3,325 3,480 3,628 3,822 3,963 4,008 4,046 4,097 2,245 2,331 266,561 292,786 325,221 341,905 350,173 359,047 373,929 170,785 214,060 239,617 252,727 127,018 143,988 OCT-20 NOV-20 DEC-20 JAN-21 FEB-21 MAR-21 APR-21 M
Slide 48: Mercer Marsh Benefits Capabilities
Mercer Marsh Benefits Capabilities
Slide 49: Local capabilities
Local capabilities • One –to-one support to HR and • Policy Renewal, Market Review • Flexible Benefits, diagnosis, • Demographics & Generational employee needs. & recommendation on design, implementation & Workforce analysis • Provide ongoing daily support insurance placement. administration • Medic
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