Insurance sellers say:
As far as travel insurance is concerned, Indian travel trade expects this segment to grow at a faster pace in near future. Without disclosing any sales figures on travel insurance product,
Madhavan Menon, MD, Thomas Cook ( India) informed that there is very low awareness about travel insurance products in India. “In most countries, travellers don’t travel without buying a travel insurance but in India it is still the last product to book, if needed. It is an important cover when travelling international and we are positive that slowly travellers are opting for it. We are also bundling travel insurance with packages to make travel experience more convenient and safe for our customers.”
With travel insurance premium accounting for less than two per cent of the total travel cost, it becomes a handy and ‘value for money’ product which is a must-buy for travellers visiting Europe and the US. To increase sale, more and more travel insurance companies are tying up with travel companies, corporate houses, MICE operators and even airlines offering them attractive premium rates and commissions. Travel operators are selling policies for corporate, group and individual travellers with attractive premium rates, convenient covers and offers. For example, together with Sabre, Abacus launched industry’s first travel management service – VirtuallyThere, which