Nearly half of Brits have travelled abroad without purchasing insurance, according to a report by TravelSupermarket. However, the need for protection may slowly be awakening amongst travellers around the world due to events such as terrorist attacks, the Zika virus and the severe weather conditions that have all been pushed into the spotlight during the past 12 months.
A report by Tnooz highlighted the fact that the trend in the U.S. for travellers buying insurance is already beginning to noticeably change with research demonstrating the number of people covered has increased by more than 17% from 2012 and the number of policy plans sold has increased by more than 15%. Yet, whilst awareness of the need for travel protection might increase, there will still be those that waiver it, believing insurance products to be too expensive on top of an already pricey trip.
The savvy travel business might want to consider the top reasons that travellers do commit to buying insurance so that they can adapt their offerings to ensure they are delivering the right kind of service and products and communicating them in the right way. Tnooz revealed the top reasons that travellers choose to purchase travel protection products:
Unforeseen issues arising that result in cancellations or the need to return home early topped the list whilst concern regarding hefty medical expenses in the event of an accident, sickness or emergency was not far behind. TravelSupermarket also noted the fact that medical costs when abroad are the number one concern for Brits seeking out cover.
Travel businesses should ensure they offer customised plans that suit the specific destination, type of trip and traveller demographic, thereby offering that personalised service that is in great demand. By customising policies, the benefits and level of cover will be tailored to the individual traveller, saving them from doing the hard work themselves whilst focusing on the particular points of concern that could arise regarding a specific trip. Personalisation and customisation are trends which are only set to rise for 2017. And with the widening net of issues that can have an impact on a traveller's trip, ensuring you can offer a level of protection designed for their specific situation will just heighten your appeal.
If you are looking to refresh your offering for the new year, talk to our expert team to find out about our range of travel technology and digital solutions can give your travel customers their perfect holiday experience. Let's start 2017 as you mean to go on.