Prudential Guarantee provides for COVID-19 coverage in travel insurance
Leading non-life insurance provider Prudential Guarantee and Assurance, Inc. (PGAI) is addressing the surge in cases of COVID-19 infections by continuing to include coverage for the disease in its travel insurance policy.
PGAI’s Travel Shield provides comprehensive protection against various incidents which may occur on a domestic or foreign trip—currently even more essential, given the unpredictability of air travel restrictions in various locations. Extending its scope to anywhere in the world, Travel Shield assures indemnity for cases like personal accidents, as well as for expenses related to flight cancellations and delays, lost or damaged luggage and documents, and delays in retrieval of luggage.
Also included in Travel Shield are benefits for medical and accidental expenses incurred during trips, even providing a daily allowance for policyholders if they get confined to a hospital. Lump sum payments for accidental death or disablement are also assured in the plan.
Especially important is the inclusion under Travel Shield’s Medical Necessary Expenses benefit the coverage for effects of COVID-19 infections which policyholders may contract while on a local or overseas trip. Included in the expenses covered are those incurred during a hospital confinement, cost of medical supplies and ambulance service.
The COVID-19 coverage inclusion in Travel Shield reflects PGAI’s commitment to innovation as the company addresses not only present conditions but anticipates future trends as well.
“We are coping with disruptions through efficient IT systems, and seamless interdepartment and inter-office coordination. By doing so, PGAI is able to deliver excellent services which our clients deserve,” said PGAI President and CEO Anthony G. Sy.
PGAI in recent years has started its move toward digitalization, a development that has become more relevant because of
the pandemic. Among the various efforts is PGAI’s ongoing conversion of insurance policies into electronic form, called e-policies.
PGAI is shifting to e-policies in order to make its products and services more accessible and convenient to use. The company is accelerating this initiative as it recognizes that consumers are now avoiding face-to-face transactions or physically handling items. PGAI is already issuing in all its offices across the Philippines e-policies for the majority of its insurance products. Payment for insurance premiums can also be made via the online platform of a leading bank.
At present, PGAI has one of the most extensive range of products, counting in 11 core insurance products containing 73 lines.
PGAI has consistently led the country’s non-life insurance sector in terms of net premiums written. The company has held this top position from 2017 to 2019, and for five consecutive years from 2011 to 2015. In 2008 it also settled the single biggest insurance claim in the Philippines, amounting to P7.5 billion, as well as the highest general aviation insurance claim of $37 million in 2015.
For more information, visit prudentialguarantee.com and pgaitravel.com.