MEA Q3 2018

MEAMARKETS / Q3 2018 5 NEWS , Wells, 52, returns to the company he joined in 2002 as vice president and treas- urer. He progressed through a series of finance lead- ership roles and served as ex- ecutive vice president and chief financial officer for five years from 2008-2013. Among his many con- tributions, Wells was the architect of the company’s capital alloca- tion plan, the freezing and fund- ing of its U.S. pension plans as well as the groundbreaking VEBA agreement with the United Steel- workers union for post-retirement healthcare obligations. Wells later served as president of Goodyear’s Europe, Middle East and Africa (EMEA) business for two years before leaving the com- pany in early 2016. He is currently Executive in Residence and MBA Goodyear Names Darren R. Wells Chief Financial Officer Coach at the University of South Florida’s Muma College of Busi- ness. “We are pleased to welcome Darren back to Goodyear,” said Richard J. Kramer, Goodyear’s chairman, chief executive officer and presi- dent. “For more than a decade, he was a key leader on our strategic journey and a valued business part- ner to me and our senior leadership team. With his deep knowledge of Goodyear, the tire industry and our key markets, Darren will be able to contribute immediately to advanc- ing our priorities along with devel- oping our finance leadership, talent and teams.” Wells succeeds Laura Thomp- son, who in June announced her intention to retire in the first quar- ter of 2019 following a 35-year career with the company. Now Health Interna- tional Group, leading International Private Medical Insurance (IPMI) provider, has announced the launch of a new mid-tier, completely digital prod- uct that is designed to cater to a new generation of expatriates and upper-affluent local nationals. The company has launched its new SimpleCare plans in re- sponse to the growing number of digitally savvy millennials and younger executives moving abroad for work, who still demand the protection of international health insurance but at a more af- fordable price point than the tradi- tional corporate executive expat. Now, Health International also be- lieves the plans will appeal to the growing base of upper-affluent local nationals in the emerging markets in which it operates. To cater to this new generation of expats, SimpleCare has been developed to be a completely digital proposition, with members only able to access their plan documents and make claims via a paper-free, seamless online cus- tomer experience. This environ- mentally conscious product lever- ages Now Health International’s award-winning digital tools, in- cluding its smartphone App and secure online portfolio, as well as new mobile pass membership cards which can be downloaded into members’ smartphone wal- lets. The new product offers core protection for all major health incidents, including hospitalisa- tion, surgery, cancer treatment, and evacuation and repatriation, which are often the main concern of younger expats. Customers can then choose to add low or medium levels of coverage for out-patient treatment, including physiotherapy, dental and medi- cation if desired. Designed for the more cost-con- scious consumer, the SimpleCare product offers multiple options to help customers further reduce their premium. This includes eight different levels of annual deduct- ible for all types of treatment (in, day and out-patient) as well as risk management tools such as a co-insurance and per-visit ex- cess. Default regional geograph- ical restrictions of coverage are also available for members lo- cated in certain countries of res- idence, providing a more afforda- ble option for those that want to access top quality medical facil- ities but do not need worldwide coverage. The product will be launched in key markets first, including Eu- rope, Africa, Hong Kong and Singapore, and then be rolled out to other markets in Asia and the Middle East in the coming months. Martin Garcia, Executive Chair- man, commented: “SimpleCare is designed to meet the needs of a new generation of expat - the growing numbers of younger peo- ple moving abroad, most of which end up on local employment contracts. We set out to create an international health insurance solution which caters to these cost-conscious, digitally literate expats while still providing them with access to world-class medi- cal facilities and the high standard of service that Now Health Inter- national is known for.” Zahir Sharif, Managing Direc- tor for Now Health International, added: “The clue is the name; SimpleCare is meant to be sim- ple to understand and use – of- fering the vital health protection that our customers desire, with easy to use digital tools, access to the best quality private medical providers, and all with an afforda- ble price tag. We understand that many expats and compa- nies looking for executive health plans want more comprehensive, worldwide coverage, and our benefit rich WorldCare plans will continue to cater to those needs. However, we are confident our innovative new product will ena- ble us to reach out to the growing base of younger expats globally, as we continue to consolidate our position as the leading IPMI pro- vider worldwide.” The Goodyear Tire & Rubber Company announced that Darren R. Wells has been named Executive Vice President and Chief Financial Officer, effective Sept. 20, 2018.