International Medical Group, Inc.

International Medical Group, Inc. specializes in providing tailored health and travel insurance solutions for travelers, expatriates, and employers, ensuring comprehensive coverage and peace of mind during international journeys. Founded in 1990, International Medical Group (IMG) operates from Indianapolis, US, offering international health and travel insurance solutions. The company was acquired by Sirius International Insurance Corporation in May 2017.

CEO Anders Söderberg and Steve Paraboschi lead the organization, which has engaged in three significant deals since its inception. International Medical Group (IMG) specializes in providing international health and travel medical insurance solutions tailored for travelers, expatriates, and employers. Their core offerings include travel medical insurance, international health insurance, and travel insurance, designed to address various needs such as emergency medical assistance, trip cancellation, and coverage for medical emergencies while traveling abroad. The company serves a diverse client base, including individual travelers, corporate teams, educational institutions, and non-profit organizations, ensuring that their plans cater to a wide range of end users.

IMG's products are distributed across multiple geographical markets, including North America, Europe, and Asia, allowing them to accommodate the unique requirements of travelers from various regions. The company has positioned itself as a reliable provider of comprehensive insurance solutions, enhancing the safety and well-being of its clientele during their global adventures. IMG generates revenue through the sale of its insurance products, predominantly via subscription models for individual and corporate clients. Customers typically enroll in plans that offer various levels of coverage, with premium pricing based on the extent of benefits and duration of coverage selected.

For instance, their flagship products such as the iTravelInsured series and the Patriot Travel series provide scalable insurance options, catering to both B2C and B2B transactions. These plans may include features like emergency medical evacuation and assistance services, which are critical for policyholders during international travel. IMG’s transaction structure facilitates direct-to-consumer sales alongside partnerships with travel agencies and educational institutions, ensuring a steady flow of business in the insurance sector while addressing the needs of their diverse clientele. Following the acquisition by Sirius International Insurance Corporation in May 2017, IMG plans to leverage its resources to expand its product offerings and enhance its market presence.

The company aims to introduce new insurance products tailored to the evolving needs of travelers by mid-2024. Additionally, IMG is targeting expansion into emerging markets in Southeast Asia and Latin America, with a focus on establishing operations by the end of 2025. The recent funding will support these initiatives, enabling IMG to invest in product development and market entry strategies.