Closer eye on insurance

AUSTRALIANS are taking more time to read and understand their travel insurance policies, new data from Allianz Travel Insurance has shown.

The insurer said it had noted “a significant rise” in pre-sale call volumes and an increased call duration when compared to prepandemic levels.

“Customers are taking extra time to consider different scenarios, what may be covered and what is not, and are showing a strong appetite to understand the coverages provided if they become sick with COVID-19,” Allianz Partners Chief Marketing Officer Damien Arthur said.

While Aussie travellers are spending more time on the phone to customer services reps to understand the ins and outs of their prospective policies, Allianz had also seen a 15% swing towards customers making their final purchases online.

The report also suggested the pandemic has focused travellers’ attention on short-term travel planning, with sales for multi-trip policies only a fraction of prepandemic volumes.

“We anticipate as confidence grows our customers will start planning out further and sales of multi-trip policies will increase,” Arthur added.