A “real-time solution” to assist holiday-goers when making travel insurance claims from abroad is making a greater push into the Australian market, revealing the findings of a survey of Australians who have claimed travel insurance following their trip.
Dubbed TravelCard Real-Time Travel Insurance, the initiative was rolled out in Australia earlier this year, offering competitive pricing with “no hidden costs”, and is backed by well known travel presenter Catriona Rowntree as an Ambassador and endorsee.
TravelCard Real-Time Travel Insurance’s major point of difference from other local travel insurers is that approved claims (+85%) are paid – to their TravelCard – in a matter of minutes while travelling, eliminating out-of-pocket expenses and paperwork. There is also no excess on claims or age restrictions, including customers with pre-existing conditions.
This week the company revealed data which shows more than four out of every five travellers who claimed on their insurance said they experienced “issues with the process” and that current methods involved “too much paperwork”(44%). Other issues raised were that claims are only partially reimbursed (32%), or they take too long to settle (31%).
Of the 1,000 Australians surveyed in the study, 45% said they had experienced an incident overseas which required an insurance claim. “Of those surveyed who did have to fork out to pay for the sometimes high cost of medical treatment while abroad, more than half (55%) didn’t bother to follow through with actually making a claim on their return,” TravelCard said.
Rowntree herself endorses the new real-time insurance option through TravelCard, having used it when her laptop went missing abroad.
“One of the most annoying things for travellers when it comes to travel insurance is the mountain of paperwork that needs completing when you return, and how long reimbursement can actually take,” Rowntree said.
“Having your holiday ruined by an unforeseen incident is bad enough, let alone the added hassle of claiming on your policy. That’s why I’m a fan of TravelCard; it offers travellers access to immediate funds, in real time, to purchase necessary emergency items. Travellers simply use the TravelCard to withdraw cash at any ATM, taking the stress out of holiday mishaps – no matter how big or small.”
Currently, travellers are most likely to make a claim when they’re forced to cancel a trip before departing (50%), while the most common incidents that have occurred to Australians when travelling are:
- Delayed flights (32%)
- Receiving medical treatment (30%)
- Losing, damaging or having your goods stolen (28%)
TravelCard said a quarter of travellers would be put off taking out travel insurance for short trips, and 44% because of its affordability. But with nearly half (45%) of Aussies admitting they could’ve put forward a claim while travelling due to an incident abroad, it proves travel insurance is a must-have, no matter where you’re travelling to or for how long.
Michael Tauber, CEO of TravelCard Australia said the basis of the scheme was to “enrich the travel experience of Australians, not hinder it, especially when things don’t go to plan”.
“Our philosophy is to assume the best in everyone and that all our customers are trustworthy, providing them with peace of mind through the delivery of real-time solutions means that our customers experience a streamlined and easy process when needing help abroad, so they can get back to enjoying their holiday.”
TravelCard Australia CEO, Michael Tauber
TravelCard is part of the UK-based company PassportCard, which has been operating in Germany and Israel for the past four years. In that time the company says it has achieved a +40% market share and 85% customer return rate, with more than 1 million policy holders globally.
TravelCard uses big data and a special insurance payment card, linked to MasterCard, to help travelling Australians when they need it the most – paying travel insurance claims in real time.
Customers have access to 24/7 worldwide assistance, by dialling the reverse charge call number: +61 2 7909 2777, or via Skype: TravelCardOz.
TravelCard is part of the PassportCard group of companies operating in Germany and Israel, controlled by insurance giant White Mountains Insurance Group. TravelCard Real-Time Travel Insurance is underwritten by The Hollard Insurance Company Pty Ltd.