Travel has always been synonymous with excitement and adventure. However, the thrill comes with a caveat—things don’t always go as planned. This fact became most evident in March 2020, when the world stood still. The pandemic painted a vivid picture of the unpredictable nature of travel and brought to the forefront the importance of being prepared for unforeseen events.
As VP Marketing & Insights, Dan Keon, aptly said, “As travel advisors know, customers appreciate peace of mind more than ever and need the option of being protected.”
Enter the hero!
The need for travel insurance goes beyond the pandemic. Extreme weather events, staffing and supply-chain shortages, as well as destabilizing geo-political events are resulting in a soaring number of flight cancellations, delays, and other hurdles.
Against this backdrop, comprehensive travel insurance plays a starring role.
Covering unexpected events like trip cancellations, medical emergencies, and travel delays is now an essential component of trip planning.
This is supported by a study from Allianz Global Assistance, conducted by Ipsos in November 2022, indicating a whopping 89% of Canadians travellers plan to avail themselves of travel insurance for their next trip.
Interestingly, 74% responded that travel insurance holds ‘equal or greater’ importance in the post-pandemic world. Of those, 32% believe it’s more crucial now than before the pandemic. And the desire for protection isn’t limited to the 55+ crowd – although they do express the most apprehension. Millennials, often celebrated for their wanderlust, also proactively plan for travel insurance, reflecting their commitment to travelling responsibly.
“The effects of the pandemic are here to stay when it comes to travel insurance. The industry has seen an increased demand for travel insurance, and Allianz’s study confirmed that three in four Canadians believe that travel insurance is equally or more important when considering an international trip than before the pandemic,” Keon added. This data is further reinforced by the finding that “Six in 10 Canadian travellers remain worried about the possibility of COVID-19 impacting their travel plans.”
The bottom line
“For travel advisors,” remarks Keon, “this not only offers a seamless cross-selling opportunity but also fosters loyalty. Ultimately, loyalty comes when you are delivering customer value.”
The bottom line is, advisors are in an advantageous position. With the renewed focus on travel insurance, there’s an opportunity to offer personalized advice and ensure that clients are adequately protected.
Allianz is riding this wave by simplifying its offerings, introducing innovative insurance solutions tailored for today’s travellers, and going beyond the traditional scope with assistance features that ensure safer and easier travel experiences.
“Travel has changed – and so have we,” says Keon. “In an increasingly complex world, we’re reinventing our products, technology, and processes for a more intuitively simple experience for advisors and their businesses.” Indeed, as the CEO points out, “Travel protection isn’t just insurance – it’s a game changer. We’re going beyond traditional transactions with assistance features that make travel safer and easier, even if customers never need to file a claim.”
Allianz Global Assistance launched a new system, AdvisorMax, to simplify the sales process for advisors. This digital solution promises a fluid experience, enabling retailers to confidently and easily offer their clients the perfect protection plan for their unique needs.
“This year, Allianz Global Assistance launched its new proprietary sales system and fully refreshed outbound product suite. The system, AdvisorMax, is a complete end-to-end solution designed to give travel advisors flexibility, ease, and a seamless experience while saving time,” Dan Keon shared.
Epilogue: Navigating the Future
The necessity for travel insurance has become a focal conversation in the industry. As Keon points out, “Travel insurance is an important conversation to have with customers, but it doesn’t have to be complicated. We know our travel partners will be able to offer customers the right protection for their unique journey – quickly, easily, and confidently.”
He concludes, “We remain committed to being with them every step of the way and ready to help them in the moments that matter most with valued-added travel insurance and assistance services.”
As the world gradually recovers from the pandemic and travel confidence amongst Canadians sees a steady surge, the role of travel insurance is more critical than ever. It isn’t just about compensation anymore—it’s about peace of mind.
