Buy­out to strengthen TrawellTag

Not only will TrawellTag Cover-More ben­e­fit from Zurich’s su­pe­rior IT sys­tems, brand cred­i­bil­ity and ac­cess to cap­i­tal, but also of­fer a ro­bust pro­tec­tion to cus­tomers, act­ing as a game changer for the com­pany in the In­dia mar­ket.

TravTalk - India - - AGENTS - HAZEL JAIN

Spe­cial­ist travel in­sur­ance com­pany TrawellTag Cover-More has much to cel­e­brate this fes­tive sea­son. When the Swiss-based Zurich In­sur­ance Group (Zurich) bought 100 per cent stake in the Aus­tralian Cover-More Group, it not only recog­nised the good work that CoverMore was do­ing glob­ally, it also brought di­rect ben­e­fits to TrawellTag Cover-More. But what Dev Kar­vat, CEOEmerg­ing Mar­kets, Trawell- Tag Cover-More, wants his part­ners in In­dia to fo­cus on is the huge ad­van­tage that this devel­op­ment brings to their cus­tomers.

He says, “One ad­van­tage which is go­ing to be a game changer for us spe­cially in the In­dian mar­ket is the ben­e­fit of Zurich’s strong pro­tec­tion arm. Most in­sur­ance providers in In­dia out­source their as­sis­tance busi­ness to a third party. Cover-More has its own as­sis­tance com­pany called Cus­tomer Care and Zurich also has its own as­sis­tance busi­ness called World Travel Pro­tec­tion (WTP). We have merged both th­ese en­ti­ties and it is now called WTP. That gives us a very, very strong propo­si­tion on pro­tect­ing the cus­tomer while they are over­seas. We have moved way be­yond re­im­burs­ing a client or fa­cil­i­tat­ing a cash­less trans­ac­tion. Our fo­cus is to make sure that if the cus­tomer falls sick or needs as­sis­tance, the most im­por­tant thing is how we can bring them back home safely, or treat them there, or en­sure that the line of treat­ment they are get­ting is cor­rect.”

Kar­vat adds that WTP as the in­te­grated en­tity takes that value propo­si­tion a few notches higher for TrawellTag CoverMore. It is now not only man­ag­ing claims but it has a strong in-house sup­port sys­tem which can take care of its cus­tomers wher­ever they are in the world.

High­light­ing other ad­van­tages of this ac­qui­si­tion, Kar­vat says, “One is of course, we get this huge brand cred­i­bil­ity of Zurich. They have very large un­der­writ­ing ca­pa­bil­i­ties in­clud­ing re-in­sur­ance. That brings huge ca­pa­bil­i­ties for us. Se­condly, they have some ro­bust tech­nol­ogy sys­tems which we get ac­cess to. We can just pick any sys­tem we want – whether it is a pol­icy is­suance sys­tem or the back-end sys­tem, or servers. We can use their en­tire IT in­fras­truc­ture to ac­cel­er­ate our growth in the In­dian mar­ket as well as the other mar­kets that we are present at. The third as­pect we can lever­age is the ac­cess to cap­i­tal where we can con­tinue our ac­qui­si­tions across the world. We are look­ing at two very in­ter­est­ing op­por­tu­ni­ties at the mo­ment.”

providers, Cover-More has its own as­sis­tance - tomer Care and Zurich also has its as­sis­tance busi­ness called World

Dev Kar­vat In­dia Travel Award win­ner and CEO- Emerg­ing Mar­kets, TrawellTag Cover-More

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