Travel insurances evolve to cover new set of risks

Keeping the way Indians travel in mind, insurance companies are customising policies with the aim to meet their requirements. The insurers are designing the covers keeping in mind the traveller’s keenness in order to participate in adventure sports and go on cruises. A new set of risks, inclusive of trip cancellations due to travel advisories, medical evacuation from cruise vessels, risks associated with self-drive cars and adventure sports such as snorkelling and marathons has been covered ICICI Lombard’s new Voyager Group Travel Insurance. “We have taken travel insurance to the next level and an Everest expedition can also be covered through an extension to the policy,” said Amitabh Jain, head of underwriting and claims (health and motor) at ICICI Lombard General Insurance. The insurer is presently selling the policy through travel agents and corporates in the form of a group cover and will sell it as an individual policy. Apart from increasing coverage, the policy is aimed at convenience. The delay cover, besides taking care of extra costs, also provides access to airport lounges, as an add-on cover. “We are also trying to ease the process through auto-intimation of claims. In case of trip delay, we can plug into the airline systems and make payment directly to the insured,” said Jain.