Travel insurance is a voluntary personal lines product that customers can buy to protect themselves against unforeseen events when on their travels. Covering expenses for a range of circumstances – including emergency medical treatment, trip cancellations, and lost or stolen property – the purchase of travel insurance allows customers to go abroad with peace of mind. A range of policy types allows cover to be tailored to the individual’s needs. It can be organized for a single trip or bought as a wider annual package, and customers can choose the locations and specific activities they wish to be covered for. Overall, the travel insurance market is highly competitive, and as UK residents are traveling abroad more frequently insurers need to do all they can to make purchasing travel insurance more convenient and efficient.
Social media is growing as a channel for researching travel insurance products.
Most customers are purchasing travel insurance online.
Convenience is most important when purchasing a policy.
Verdict Financial’s “UK Travel Insurance: Distribution and Marketing” explores consumer purchasing behavior and how it is changing. It discovers what is most influential to customers when purchasing a policy and reveals the most popular providers in the market. New innovations are highlighted, as well as key factors that will influence the travel insurance market over the next few years.
Reasons To Buy
Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.Benchmark yourself against other providers in the market.
Ensure your products remain competitive as new innovations revolutionize the consumer purchasing journey.