Inflation is a common phenomenon that affects almost every industry, including the travel insurance sector. As the cost of living continues to skyrocket and operational expenses remain high, travel insurance companies may be forced to adjust their pricing. This could have far-reaching effects
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In 2022, we conducted a study Singapore: 2022 Travel Insurance Outlook, surveying 500 travelers to gain insights into their views on travel insurance. Now, in this follow-up survey, we delve deeper to explore how travelers’ sentiments towards travel insurance have changed with the return of travel.
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Parametric travel insurance is quickly gaining traction in the industry. This is a type of insurance that pays out based on the occurrence of specific, predefined events. Insurers and travel organizations are coming together to provide consumers with more pertinent
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Carbon offsetting has become a primary initiative for the travel industry since the pressure to practice more sustainable travel rises. Projects like reforestation and renewable energy sources have contributed greatly to the reduction or removal of emissions. Because of these big projects
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Travel insurance companies are constantly searching for ways to distinguish themselves and win partnerships. In order to be successful in gaining these partnerships, they must be aware of the right approach to take when responding to Request for Proposal (RFP) requests.
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Embedded travel insurance partnerships, where insurance is included in the cost of a travel package, is becoming a common practice in the Asia Pacific region. These partnerships offer benefits for travel providers and consumers, such as added convenience and value.
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Merely providing a one-size-fits-all approach to travel insurance isn’t sufficient these days because customers have diverse needs that require tailored solutions. An ideal way to meet these individual requirements is to offer bundled packages of travel insurance.
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In today’s digital age in the highly-competitive insurance landscape, customer retention is more important than ever for travel insurers looking to succeed. One of the most effective ways to improve retention is through the use of digital insurance distribution channels.
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As the insurance industry continues to evolve, digital channels are becoming increasingly important for insurers looking to reach and serve their customers. However, simply having a digital distribution channel is not enough to ensure success – as it’s crucial to effectively market
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The insurance industry is facing a digital revolution, with a growing number of companies turning to digital channels to distribute their products and services. According to a report by Accenture, “Digital insurance distribution will account for as much as 50% of all insurance sales globally by 2020.
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Digital insurance distribution channels like online marketplaces and comparison websites are becoming more popular each day. To capitalize on this opportunity, insurers are forming strategic partnerships with other companies. This is beneficial to some extent.
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As the hospitality industry is becoming more competitive, leading hotels and resorts seek new ways to set themselves apart from their competitors and draw in new customers.
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