Allianz Partners returns to travel insurance market

Allianz Partners returns to travel insurance market | Insurance Business Australia

Allianz Partners returns to travel insurance market

Now that many countries are winning against the COVID-19 pandemic, insurance giant Allianz Partners (Allianz) has re-entered the travel insurance market – celebrating its return by launching a revamped product that adapts to the ‘new COVID-19-normal’ with refunds for border closures.

Underwritten by Allianz Australia, the simplified travel insurance product offers some cover to those who contracted COVID-19 while travelling. Should COVID-19 border closures or mandatory quarantine shorten or cause a cancellation of national or international travel plans, policyholders are entitled to a partial or full premium refund.

Allianz stated that the new policies are accessible online through a new agile platform designed to adapt to travel and regulatory environment changes. It also helps reduce the compliance load for partners and automates future updates.

Aimee McGuinness, the chief underwriting officer at Allianz Partners Australia, claimed that the new policies offer customers great value for money.

“Travel has changed dramatically since COVID-19, and we want to offer our partners and customers a better experience when they return to travelling, making it easier for them to more fully understand travel insurance in this pandemic market,” McGuinness said.

“We’ve invested thousands of hours developing the platform to ensure it adapts to constant change – like what has been brought on by COVID-19 – with minimal disruption. Close to 100 Product Disclosure Statements have now been streamlined to less than five, highlighting our commitment to simplicity for partners and customers.”

The new online purchase path guides customers through the travel insurance process using simplified language to help them understand their policy better.

“With the newly designed purchase path, customers have access to the product disclosure statement throughout the purchase journey, enabling them to find detailed information on their policy at any stage of their purchase. This helps customers make an informed decision and offers full transparency on the product,” McGuiness said.

The new policies – designed for eligible singles, duos, and families – cover Australians and eligible visa-holders travelling domestically and internationally as long as they are traveling to a country included in the Australian government's travel zone arrangement.