Finding the right insurance

Keeping your clients safe while they are travelling and getting them back home without any issues has become even more important today, with cancellations and lockdowns also having begun again. How do you find the right insurance cover for them? We highlight offerings from two key providers.

Hazel Jain

Dev Karvat, Founder & CEO, Asego

Does Asego offer travel insurance for COVID?

Yes, we have launched a unique combo product that covers the travellers’ COVID-19-related expenses as well. The product includes hospitalisation, hotel quarantine, cancellations along with other new-age travel protection benefits such as roadside assistance, emergency medical and accidental expenses which not only provides immediate relief in case of travel emergencies but also boosts the confidence of a traveller.

This is for both domestic and international travellers?

Considering the highly volatile situation and travel bans still prevailing at many international borders, the aforementioned product is being offered only to domestic travellers. However, we are planning to start with a similar product for international travellers once the borders open up.

What kind of innovation have you brought in?

Our clients have been accessing our travel protection products through a dedicated web portal, thus always ensuring 100% contactless transactions. We also employed improved optimisation algorithms to gauge travellers’ preferences and provide them best-in-class products. Furthermore, we urged our customers to avail 24×7 telephonic assistance and WhatsApp-based communication in case of emergencies. IoT will play a pivotal part in integrating more gadgets into devices capable of sharing real-time insurance data and information.

Parag Ved, Executive Vice President – Consumer Lines, TATA AIG General Insurance

Does TATA AIG offer travel insurance with COVID cover?

Yes, Tata AIG offers coverage for medical expenses related to COVID-19 when the insured is outside India, at no additional cost. We offer comprehensive travel insurance for five segments – leisure travellers (international), business travellers (international), students, domestic travellers and senior citizens.

This is for both domestic and international travellers?

We are offering this for both.For policies issued to large pre-defined groups, the coverages are applicable for both international and domestic travellers. For individual travellers, the coverage is available overseas only.

What kind of innovation have you brought in?

We are offering more flexibility to our clients to choose from a wide range of products. Additionally, we also provide our patrons with the following:

• Support to travellers to alter policies without additional charge apart from any applicable premium
• Advance renewal for yearly policy; allowing holder to incept policy later than expiry date
• Increased capacity to coordinate increasing claim count on account of COVID
• Complete digitisation of claim document/ claim settlement
• Direct connect with insurer, resulting in lesser grievances for customer
• Online claim tracking being built for enhanced experience of customer