Here are the CEO's predictions on what's ahead for travel in the next year:
How have things changed for you since the discovery of the omicron variant? How do you expect them to change in the coming months?Countries are taking a much faster and more proactive approach in trying to combat the spread of COVID-19, which we’re seeing right now with the emergence of the omicron variant. We’ll continue to see disruptions for months, if not years, to come.
In the past, you've said the one-size-fits-all model for travel insurance doesn't work anymore. What do you mean by that?This is a global industry phenomenon. We see insurance companies continue to recycle the same products that were created for travelers 40 years ago. The travel world back then was completely different from how we travel and experience the world today.
You've had two years to create new products that are more customized and address things like global disruptions. What have you learned about people's insurance needs?Over the last two years, we’ve researched what works and what doesn’t when it comes to travel insurance. Why is it that we’re offered the same travel insurance product for booking a flight from New York to San Francisco as we are for a flight from New York to Nairobi? These two trips are not the same. Research data shows over 90% of airline passengers do not buy travel insurance. I think this is simply due to not finding products that are relevant to their actual needs and purchase experience. Having the right coverage at the right price.
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