Bupa: Everything you need to know

Bupa is a worldwide healthcare company that offers high-quality, low-cost healthcare. Without shareholders, the company concentrates on providing support to its 38 million clients and reinvesting money to improve healthcare through its goods, clinics, hospitals, and dental centers.

The company’s premium international private health insurance provides unrestricted access to a large network of medical providers globally, as well as free independent second medical opinions and other health and wellness advantages. Meanwhile, Bupa’s worldwide health insurance for businesses provides employees with coverage and benefits.

Bupa’s main travel insurance package is based on premium emergency medical insurance, with the option to add non-medical and trip cancellation coverage. It includes cruises, adventure sports, and US travel regulations until the policyholder reaches the age of 70. It also covers a wide range of chronic and pre-existing diseases.

Details of Bupa

• Headquarters address: 1 Angel Court, London, EC2R 7HJ, UK
• Year established: 1947
• Group revenue: £12.9 billion (2021)
• Total assets: £16.6 billion (2021)
• Size (employees): 84,000 (2021)
• Global locations: Australia, Bolivia, Brazil, Chile, China, Denmark, Dominican Republic, Ecuador, Egypt, Guatemala, Hong Kong, India, Ireland, Mexico, New Zealand, Panama, Poland, Saudi Arabia, Spain, UAE, UK, USA
• Underwriting expertise: Health and travel insurance
• No. of customers (global): 21.1 million (health insurance), 16.9 million (health provision)
• Key people: Iñaki Ereño (group CEO), Carlos Jaureguizar (CEO, Bupa Global & UK)

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History of Bupa

Bupa, originally known as the British United Provident Association, was created in April 1947 “to prevent, relieve, and cure sickness and ill health of every kind.”

Bupa has spent decades focusing on providing healthcare to help people live longer, healthier, and happier lives. In July 1948, the company had 38,000 customers and controlled 80% of the UK’s private health insurance industry.

In 2014, the company acquired a 49% share in Highway to Health, a US health insurance provider. It also collaborated with the Blue Cross Blue Shield Association (BCBSA) to provide customers with access to over 1.2 million medical providers globally.

Bupa presently serves over 38 million consumers worldwide. In some markets, it also runs clinics, hospitals, and dentistry clinics.

Leadership at Bupa

Iaki Ereo is the Group CEO.
Ereo took over as CEO of Bupa Group on January 1, 2021, after Evelyn Bourke, retired.

Ereo joined Bupa in 2005 and has held a number of executive positions, including CEO of Sanitas, Bupa Group’s insurance and provision business in Spain, in 2008, and CEO of the Spain and Latin America (SLA) market unit in 2012. That same year, he joined the Bupa executive team. SLA was introduced to Europe and Latin America (ELA) in 2016. The unit presently includes Bupa operations in Spain, Chile, Poland, Brazil, Turkey, Mexico, and Latin America.

Ereo held key positions at Telefonica Group and Carrefour before joining Bupa in 2005, as well as creating an online start-up. He has a law degree and an MBA from IESE Business School.

Culture at Bupa

Bupa is dedicated to becoming an ethical and sustainable organization. To have a good impact on its customers and local communities, it focuses on providing quality services and meeting its social and environmental commitments. Its approach to corporate responsibility and sustainability (CSR) is divided into five categories:

• Bupa is devoted to giving value for money, outstanding care, and assisting customers with healthcare difficulties by funding and providing quality health and care services.
• Being a place where people want to work: By providing tools, information, training, recognition, and awards, Bupa encourages a pleasant working environment, diversity, and employee empowerment.
• Conducting business ethically: Bupa created its principles and codes of conduct to foster a culture that prioritizes serving the interests of its customers and adhering to internal controls, which include specific policies and regulations.
• Bupa connects with stakeholders, community groups, and sporting organizations to make a positive contribution to public health issues. It also has health foundations all across the world that invest in research and public health projects.
• Making a positive environmental impact: In 2021, Bupa confirmed its ambition to become a net zero business in Scope 1 and 2 by 2030 and across all scopes by 2040, as well as joining the UN-backed Race to Zero campaign through Health Care Without Harm, which sees the group partnering with other organizations who have committed to taking rigorous and immediate action to halve global emissions by 2030 and deliver.

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