Posted on: June 9, 2019

Innovation in Travel Insurance

Do you have a good understanding of travel insurance, or do you find it confusing and a bit of a hassle? We could have good news for you. There’s a relatively new option on the market, TravelCard which is a real-time travel insurance option. AND, GIA can help organise the TravelCard insurance solution for you!

Travel Insurance with TravelCard

TravelCard has three simple steps:

  1. You buy a TravelCard insurance policy.
  2. You receive the Travelcard in the mail.
  3. If anything goes wrong while you’re away, funds can be instantly transferred to your card.

TravelCard has basically turned the claims process on its head – by paying you first and asking questions later (if at all). While this might sound too good to be true, there is some method to TravelCard’s madness.TravelCard uses data to look at claims of all different kinds, and look for patterns of what a ‘reasonable and customary’ claim looks like. If your claim fits this pattern, they’ll transfer the funds onto your card straight away.

But according to TravelCard CEO Michael Tauber, it’s not just big data that sets them apart. He says it’s the trust they place in their customers that is the real differentiator. In fact, looking at big data is only the second step of TravelCard’s verification process. The first “step” being: “we choose to trust our members and believe what they say”.

“The one real word that differentiates us is ‘trust’. We like to think of ourselves as a family-based organisation and we treat our customers like family, choosing to assume the best in everyone,” Tauber told finder.

TravelCard’s strategy is a simple one. The increased frequency of payouts is offset by low admin costs and a high rate of repeat business. Tauber says 86% of customers purchase again and many of them refer friends and family.

Corporate Travel Insurance & Personal/Leisure Cover

There are three types of TravelCard cover. Businesses can opt for corporate travel insurance. Individuals can get leisure cover, and there’s also a ‘business class’ for employees which is relatively new.

Get Travel Insurance

Talk to us to find out more and see what type of travel insurance would best suit your situation.

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