A new YouGov survey on behalf of technology specialist, Aquarium Software, has revealed that when it comes to travel insurance, 25 per cent of us say it’s the exclusions that annoy us most. In addition to the quarter of us who hate the idea of not being able to claim for dozens of items ‘hidden in the small print’, 12 per cent say proving a valid claim is the worst aspect; yet paradoxically, 24 per cent say there is nothing annoying about travel insurance at all.
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The findings come in the wake of the fallout from the Ryanair flight cancellations, when some realised for the first time that standard insurance policies don’t cover so-called ‘knock-on’ losses, such as non-refundable hotel bookings; car hire; or other consequential losses. The latest travel insurance technology can make these issues a thing of the past, by making tomorrow’s travel policies more transparent for both insurer and policy holder alike.
“It is perhaps hardly a surprise that a quarter of us hate exclusions, but with nearly the same proportion of people saying there is currently nothing is wrong with travel cover, there is clearly a major opportunity here for the industry; taking this feedback as constructive criticism, we’d encourage the travel insurance industry to aim for 100 per cent customer satisfaction, which is clearly some way off,” said Aquarium Director, Mark Colonnese. “Exclusions are a necessary element of any insurance cover, however with the latest technological developments, the industry can deliver the transparency consumers need to address their concerns,” he added.
“The jury is clearly still out on travel insurance in the minds of the consumer, but emerging technology can ensure the balance tips in favour of hassle-free trips, and a customer journey that the industry can be proud of,” added Colonnese. “In the meantime, people need to check they are buying the level of cover appropriate for their needs, and policy providers need to make it as easy as possible for them to do that, without feeling they need a law degree or have to wade through dozens of pages of Ts and Cs to avoid getting caught out,” Colonnese concluded.
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