92% Indians intend to purchase travel insurance for their next international trip – ICICI Lombard research reveals
ICICI Lombard is one of the most reputed brands in Travel Insurance
BILKULONLINE
Mumbai, Sept 27: ICICI Lombard General Insurance, one of India’s leading general insurers on the occasion of World Tourism Day on 27th Sept, has published the findings of its recent consumer study on International Travel Behaviors of Indians and has found that 76% purchased Travel Insurance for their most recent trip and the intent to purchase the same for the next trip reached a whopping 92%. The findings further explain that a remarkable 73% of respondents demonstrated a high level of awareness regarding the importance of travel insurance, underscoring the growing consciousness of safeguarding travel experiences. Furthermore, the study uncovered that awareness of Travel Insurance increases with the progress of the family stage, as married couples with kids emerged as the highest travel insurance purchasing class at 78%, followed by married couples with no kids (67%) and singles (66%).
The study, delved deeper into the psyche of the Indian traveller and shed light on their preferences, awareness and habits, unique to each type of customer class – family, couples and singles. Through the study, the insurer shed light on the current challenges with planning and executing travel plans internationally, any gaps or needs that are currently unfulfilled that can be potentially looked into and how these changes will affect the travel insurance landscape of India.
Sheena Kapoor – Head Marketing, Corporate Communications & CSR, ICICI Lombard, said, “These statistics underline a growing consciousness among travelers to safeguard their travel experiences and protect themselves against unforeseen events. It is indeed encouraging to see that travel insurance is no longer an afterthought but a proactive choice for a majority of respondents. Additionally, the correlation between family stages and travel insurance awareness is a noteworthy discovery, demonstrating that individuals are increasingly recognizing the importance of securing their travel plans, particularly as they progress through various life stages. At ICICI Lombard, we are committed to providing comprehensive and tailored travel insurance solutions that cater to the diverse needs of our customers. We believe these findings will serve as valuable insights to help us further enhance our offerings and continue to be a trusted partner for travelers, ensuring peace of mind during their journeys.”
With an exponential rise in international travel, there is a corresponding rise in the need for Travel Insurance. Recognising this trend, ICICI Lombard’s has been promoting travel in collaboration with Radio One featuring the enigamatic Bollywood superstar Ranveer Singh as the host in the #1Travel show Get Some Sun (Season 7) on radio.
According to the survey results, a significant `70% of the respondents liked the show while overall 62% find the concept to be excellent. The show has further helped to drive preference for ICICI Lombard as 97% of the respondents claim to prefer ICICI Lombard as their Travel Insurance provider for their next international trip.
The survey also confirms that ICICI Lombard is one of the top 3 purchased brands in Travel Insurance. ICICI Lombard’s travel insurance assures quality health care with a medical cover of up to 5 lakh USD. The various offerings of ICICI Lombard cover travellers from 3 months to 85 years without any medical check-up for policy issuance. The policy covers your safety and provides value-added services for your family back home.
