Peak claim time in winter is snow joke for travel insurance
Tourists need to use technology to help themselves and the travel insurance industry make cover more affordable. That’s the view of Aquarium Software, arguing it is everyone’s interest to reduce the number of insurance claims and help make cover affordable for all. The snow may be gone for another season, but the fact remains that more claims are made during winter months than at any other time. This works out at one claim every 67 holidays, totalling a staggering £45,000 of claims every hour, with most for baggage loss, cancellation and medical treatment.
“We all have a part to play in keeping travel claims down and contacting your insurer as soon as a problem arises is a big part of that,” said Aquarium Software Director, Mark Colonnese. “Given the huge costs associated with medical care and repatriation, technology is already being used to identify medical conditions before people travel, but the last thing anyone needs is to realise they are not covered while overseas. Being ill away from home is always stressful but contacting your insurer immediately can often cut costs and improve treatment times significantly.”
Most people admit not reading the small print in insurance policies and being ill away from home means people can be unsure what to do. Having information contained in an app that can be accessed at the touch of a button is the future, but until universally adopted, people must appreciate the basics. This means having your insurer’s 24-hour emergency number to hand, a valid European Health Insurance Card (EHIC) and importantly, not paying any medical costs up front. Contacting your insurer first can mean big savings here.
Our technology is designed to help insurers help the policy-holder, improving the customer journey and cutting the cost of claims administration. If we want cheaper, more comprehensive cover and a more intuitive response from insurers, technology holds many of the keys,” concluded Colonnese.