Travel insurance providers need to improve their use of technology to impress today’s tech savvy Brits.
So says robotic process automation company Aquarium Software, after online YouGov research it commissioned suggested 56 percent of holidaymakers want to see better websites and more platforms such as mobile apps to deal with claims.
The travel insurance technologist’s findings show broad agreement across all age groups, male and female, with 56 percent of the over 55s and 55 percent of 18-24 year olds agreeing.
“The research confirms what most of us know, that all age groups have embraced smartphones and we now expect all companies, including travel insurance providers to do likewise,” said Aquarium software director Mark Colonnese.
“With home and car insurance bought on a mobile and the documents sent electronically, travel insurance is an obvious place where such solutions are of benefit, and it is what consumers expect,” he said.
The latest travel insurance apps mean policies can travel with the holidaymaker and technology allows insurers to process and authenticate claims quickly, which Aquarium says can be “a powerful anti-fraud tool”. It also believes the consumer will benefit from an improved customer journey, simplified small print, lower premiums and “help at their fingertips when they need it most”.
Colonnese added: “As 20 percent have never had travel insurance and 69 percent of those who have had travel insurance have never made a claim, the industry needs to demonstrate the value of the product and the latest tech allows us to do that.”
“Four out of five UK adults have a smartphone and apps are the future of engaging with both old and new customers. Technology is the great leveller, with ‘silver surfers’ just as responsive to technology that aids the insurance process as the iGeneration. This represents a great opportunity to deliver better value for consumers, and a better bottom line in the process.”