Aquarium welcomes new entrants, as travel insurance market takes off in 2018

Aquarium welcomes new entrants, as travel insurance market takes off in 2018

Jan 26, 2018

With 2018 predicted to be a landmark year for travel insurance, technology specialist Aquarium Software has welcomed the entry of new players into the sector including EasyJet, and strong further investment into the market from Admiral. These companies and their deepening commitment to travel can be seen as further proof the New Year is going to represent a milestone for travel insurance.

While Admiral has offered travel insurance since 2012, it was always underwritten by a third party until now; EasyJet is entering the fray in partnership with insurance giant Zurich, showing that providers of other travel services can use their experience and consumer knowledge to better tailor products for today’s travellers.

“The travel insurance market has been growing steadily for several years now and this news shows there is no sign of this abating in 2018,” said Aquarium Software Director, Mark Colonnese. “Admiral needs no insurance introduction and its move shows real confidence in the market. Partnering will allow Zurich to complement its decades of insurance experience with EasyJet’s impressive brand profile and customer loyalty ratings,” he added.

Zurich stunned industry watchers in November with a ‘selfie app’ to improve the experience of buying life cover, and the trend of technical innovation is set to continue indefinitely. “2018 will herald a new dawn of travel technology innovation,” predicts Mark Colonnese. “Our research shows 56 percent of Brits think the use of travel insurance technology should be improved when handling claims from customers, and the Zurich selfie is a living example of how apps can enhance user experience and the customer journey, while providing valuable data for underwriters, at the touch of a button. Allowing consumer applications and preferences to function based on image selections, voice, or video, is an exciting next step and one we’re looking to be at the forefront of,” Colonnese concluded.