Upping the insurance game

Asego is determined to continue bringing innovation to the insurance segment, whether it is by creating new offerings that are better suited for Gen Z and Millennials, or by creating experience-specific covers like for cruising. Dev Karvat, Founder & Chief Executive Officer, Asego, shares his plans for the new year.

TT Bureau

What is Asego’s outlook for 2024?

We believe that every business has the potential to undergo a digital transformation. Asego is determined to lead this change, ushering in the next wave of digital transformation through our upcoming proprietary software. This innovative tool will empower our partners with improved business intelligence and enhanced operational efficiency.

What are the various kind of risks travellers are facing these days?

Travel, by nature, is an adventure into the unknown, and while the thrill is undeniable, uncertainties can cast a shadow on the overall experience. One of the most common uncertainties being reported by travellers’ these days is the unpredictability of weather. Winter travels, in particular, come with the risk of flight delays or cancellations due to adverse weather conditions. Another significant uncertainty revolves around the unexpected disruptions caused by natural calamities. Whether it’s a sudden snowstorm, heavy rains, or other unforeseen events, travellers may find their plans derailed. Furthermore, during the festive season, the influx of travellers can lead to crowded airports and transportation hubs, increasing the likelihood of lost baggage or theft of gadgets and valuables. Last but not the least, travellers have also been fazed lately with a looming concern about political unrest in various countries.

How does Asego tackle crisis situations faced by travellers?

Our offerings not only take care of medical emergencies and other travel-related inconveniences but also ensure that travellers are protected against risks such as emergency medical evacuation, loss and damage of gadgets, cyber security issues, identity theft, credit/ debit card fraud, etc. Further, our carefully curated standalone products offer travellers an opportunity to customize their protection plans as per their needs, rather than opting for a plain vanilla travel insurance product.

How are you catering to Gen Z and the millennials?

Yes, we have seen a drastic jump in travellers seeking new experiences such as cruise trips, adventure sports, self-drive trips etc. to end or begin the new year with a bang. However, we should be mindful about such activities, as it also comes with inherent risks that require proper preparation and protection. We have, therefore, curated some exclusive coverages for the Gen Z travellers such as adventure sports cover, sports equipment covers, self- drive protection etc.

These covers do not only safeguard high-risk activities and other adventurous pursuits by travellers but also take care of emergency medical expenses in case of personal accident and emergency evacuations.

Is a cruise specific travel insurance cover important and why?

Certainly! A relevant cruise protection cover comes into the picture if an unforeseen emergency or mishap arises. There is a general misconception that a regular travel insurance should be sufficient to keep them secured while cruising. However, travel insurance does not cover passengers while on a cruise. For instance, if a mishap strikes before you even begin the journey, you may have to cancel your trip. The cruise line won’t reimburse you, but a dedicated cruise trip protection can. Further, if a passenger is affected by illness or any other medical emergency on board, the person will get confined and eventually miss the excursion. Cruises protection plans such as Asego’s exclusive cruise cover does not only safeguard travellers from such loses but also covers emergency evacuation and subsequent medical care expenses in case of serious injuries.

Please elaborate on your core business – Travel Assistance?

Asego’s services extend beyond mere processing of claims. We offer comprehensive real-time assistance services, including 24X7 global medical support, roadside assistance, and family protection, along with insurance. Further, we provide medical service-related referrals to travellers seeking hospitals, clinics, chemists, and diagnostic centres, not only for themselves but also for their families back home.