How Online Technology has Transformed Travel Insurance Companies and Agents

August 6, 2020
Technology Transformation for Travel Agency

Travel insurance contributes a great part in travel as it takes responsibility for making travelers’ trips peaceful.

Being a travel insurance agent, you must provide schemes and policies to travelers for baggage thefts, medical evacuations, cancellation fees, and more.

We have written this blog in an idea to educate you about the upcoming advanced marketing mediums and how you can change your marketing tactics depending on travel insurance trends 2020.

Let’s dive in

1. Why Travel Insurance is Important?

Travel insurance is an essential travel tool to be included in the package, for both leisure trips and also business trips. Moreover, when travelers hold insurance policies, factors like political unrest, natural disasters, medical urgency, and baggage thefts will not have powers to ruin their trips.

Few Scenarios That Reveal the Importance of Travel Insurance

  • Unexpected medical emergency
  • Support system to guide
  • Protection for personal belongings
  • Claiming the property damages of third-party
  • Travel-based exigencies
  • Prior information about mandatory travel insurance requirements
  • Trip cancellations with coverage fee

If you meet the requirements of individual travelers, you will be easily sorted out as a reputable travel insurance agency and will also be able to reach an enormous group of travel aspirants.

Additionally, user-friendly websites, smart digital marketing strategies support you to be highly visible in the online business world. If you need any help to improve your online visibility, you can get help from our ColorWhistle team anytime.

2. How Has Technology Begun to Impact Travel Insurance?

Travel insurance is notably becoming tech-savvy in this 21st century. There are a lot of advanced technologies for you to adopt such as cloud computing, internet of things (IoT), advanced analytics, telematics, global positioning system (GPS), blockchain, machine learning, artificial intelligence (AI) and many more.

These technologies will help you to engage with your clients in different ways. Also, it helps in building modernized insurance tools and services.

Technology has caught up with the way people are communicating, and the travel insurance industry has integrated that with customer benefits like instant adjudication, says Stan Sandberg, co-founder of TravelInsurance.com, an online insurance aggregator.

On that scale, technology is going to have its great involvement in the travel insurance industry and agents who are aware of the trending technologies will be able to dominate the industry.

3. Benefits of Technology in Travel Insurance Sector

With the implementation of smart digitized technologies, you can easily abolish traditional insurance practices and can provide hassle-free experiences to your travelers.

Few Trends & Technologies That are Transforming the Travel Insurance Sector

  • Omnichannel marketing supports you to communicate with your travelers in a more personalized way
  • Through big data analytics, you can easily drive revenue and profitability to your agency
  • Robotic process automation (RPA) allows you to respond to your travelers instantly
  • Augmented reality/virtual reality devices are useful to actively interact with your travelers about the services provided

By integrating with these types of technologies, you can become more customer-centric agents and make your online travel insurance agency active in this digital world.

4. Travel Insurance Marketing Ideas

Every industry has to create smart marketing strategies to grow the online business successfully. This is also applicable to the travel insurance industry.

Few Marketing Ideas for Travel Insurance Agents & Companies

By making the best use of effective marketing strategies, you can retain your existing travelers and can also attract new travelers.

  • Build a website that is mobile-friendly, easily loadable, and interactive – 75% of people judge a company’s credibility based on its website design (Source – MarkBrinker)
  • Make the website highly visible on the search engines by providing quality content – 93% of online experiences begin with a search engine (Source – Junto.Digital)
  • Include engaging video content – 73% of B2B marketing professionals say that video has positively impacted marketing results (Source – BlueCorona)
  • Keep a follow up of the customers via email marketing – 40% of qualified leads discover websites via email (Source – Callbox)

5. Top Travel Insurance Companies

At present, there are millions of travel insurance companies that provide personalized insurance policies to their travelers. We have picked the top 3 insurance agencies around the world.    

  • World Nomads
  • World Nomads was founded in 2002. It provides trustworthy, flexible travel insurance policies to domestic and also international travelers. To learn more about their services, click here.

    Features in the Website

    • Easy to claim insurance policies via website
    • Has a list of benefits for Canadian travelers on the site
    • Easy to create an account to become a member of the agency

  • MedJet
  • MedJet offers all the medical benefits, worldwide travel security, crisis response, and evacuation services. To learn more about their services, click here.

    Features in the Website

    • Easy to claim insurance policies with just a few clicks
    • Allows to renew the expired insurance scheme
    • Has a list of all the membership terms and conditions on the site

  • Clements
  • Clements was founded in 1947. It is one of the premium travel agencies that provide insurance for automobiles, private properties, medical evacuation, and financial cases. To learn more about their services, click here.

    Features in the Website

    • Allows to apply for insurance from the site
    • Easy to send feedback to the travel insurance team

    6. Travel Insurance Trends for 2020

    Today, travelers wish to embrace new technologies according to the travel trends. Insuretech has become a buzzword with nearly 20,000 monthly searches on Google worldwide.

    Travelers like to optimize new technologies for exploring various places around the globe. Therefore, you should take advantage of optimizing technologies based on the trends.

    Few technologies that will go trending in 2020

    • Insurance coverage for self-driving automobiles
    • Efficient machine learning technology
    • Blockchain travel insurance technology
    • Insurance distribution via multiple channels
    • Personalized travel insurance schemes and policies
    • Robotic Process Automation (RPA)

    The emerging technologies that we have covered support you to stay on top of the competition and thereby fulfill your traveler’s requirements in 2020.

    How Can ColorWhistle’s Digital Services Support in the Development of Travel Insurance Agencies?

    Are you looking for digital services to grow your online travel insurance business? Then, ColorWhistle is the right place for you.

    Today, technology development has transformed the travel insurance sector to the next level. Also, many of the travelers’ attention has turned toward the technology side.

    As we are working with many travel clients we are aware of the travelers’ expectations regarding travel insurance.

    Our expert team can come up with smart marketing techniques to help you gain higher visibility in the online business world. If you like to discuss more contact us anytime. We are always happy to help.

    Conclusion

    So, these are effective ways to build your online travel insurance agency. By implementing these advanced technologies and smart marketing strategies in your travel insurance agency, you can also be on the list of top travel insurance companies.

    After going through this blog, if you get any ideas on developing your travel agency website online but find difficulties in executing those ideas, do not hesitate to contact us! Drop us your requirements and we are happy to support you in all ways!

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    About the Author - Pavithra Samuel

    I am an associate content writer at ColorWhistle. I write content for various industries such as travel, real estate, and more. Also, I am passionate about producing content on digital marketing topics too. In my free time, I enjoy having coffee and listen to music.

    1 Comments

    One thought on “How Online Technology has Transformed Travel Insurance Companies and Agents

    1. Nice post! The information you provided is very helpful if someone is planning to Digitalized our Business.

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