Opportunity knocks for winter sports insurance market?
The latest YouGov poll commissioned by Insurtech specialist Aquarium Software reveals the alarming statistic that almost a fifth of people (17%) who plan to go on a winter sports holiday in the next year, plan to take out no winter sports travel insurance cover whatsoever.
Should this be a major concern, or is it an opportunity for the industry to better use technology to demonstrate the true value of comprehensive, tailored travel cover?
The survey of over 2,000 British adults between 24-25 September reveals that 28 per cent either don’t know if they will take out insurance or don’t plan to – a dangerous admission when the right cover is vital when engaging in riskier activities like skiing; snowboarding; mountaineering and the like.
“These figures are troubling, but they do perhaps present an opportunity for the travel insurance industry to up its tech game,” said Aquarium Software Director, Mark Colonnese.
“We know lots of women are travelling solo and relying on their smartphones as a communications lifeline. We now have the power to deliver insurance services and information direct to those mobile devices, and this is one way we can aim to reach the refuseniks who still resist taking out cover or simply never get around to it,” added Mark.
Next generation apps and social media channels allow insurers to reach potential clients anywhere in the world, geolocation technology can recommend the level and type of cover they may need, based on their location – handy when you have packed your skis but as so many still seem to do, have forgotten to pack your comprehensive travel cover along with them.
“Technology not only gives customers the products they need when they need them, but it can also reduce the cost for all concerned, delivering an enhanced customer journey and ensuring more of us are fully covered against unplanned eventualities when undertaking winter sports,” concluded Colonnese.
Aquarium Software is the market leading pet and travel insurance software platform.
Aquarium enables insurers, affinity partners and claims organisations to build and deploy new service offerings quickly and cost-effectively.