Travel Insurance: Is The Sector Getting Its Mojo Back?

Despite the doom n gloom surrounding the UK economy in the mainstream media, the travel sector seems to be recovering nicely from the Covid restrictions. Although some countries stubbornly cling onto masks and vax records as a condition of entry, many typical holiday destinations have re-opened without extra red tape. The result is that many UK travellers are venturing overseas again. Here’s some trends data from Just Travel Cover;

Travel Insurance specialist and product and service provider Just Travel Cover has reported its best ever month after a record-breaking January. The North East broker recorded a 63% increase in the number of people it covered last January, exceeding pre-pandemic levels. Whilst significant increases have been reported across all areas of the business, Just Travel Cover’s wholesale division recorded 102% growth against January 2022, setting its own record, thanks in part to its acquisition of Alpha Underwriting last summer.

That deal saw Just Travel Cover grow its broker network, providing Alpha’s insurance brokers with access to its unique panel of leisure travel insurance products including the innovative ‘Smart Luggage’, a parametric policy that pays delayed/lost luggage claims in real time.

However, the Alpha acquisition is not the only reason for Just Travel Cover’s record-breaking month. Daley Gore, director at Just Travel Cover said,

“It’s clear that holidays are firmly on people’s agenda this year, with the travel industry reporting record bookings, and Travel Insurance is top of mind after the Covid pandemic. While there’s been a general uplift in holiday bookings, we’ve worked tirelessly to onboard new partners, adapt products and invest in our technology and systems to ensure our broker partners were ready to capitalise when the demand peaked, serving their customers and communities with a quality Travel Insurance product”.

A recent survey by Just Travel Cover found that despite the cost of living crisis, people are prioritising foreign holidays, with 71% saying rising bills will not stop them heading abroad in 2023 – something demonstrated by the increase in Travel Insurance enquiries in January.

Daley said “The impact of Covid-19 coupled with headlines of rising costs of medical treatment overseas has led to a heightened sense of importance around Travel Insurance, with many leaning on insurance brokers and specialists to ensure they have the right cover”.

He concluded “we specialise in providing UK insurance brokers with access to a suite of leisure travel insurance products with high cover limits, cover for pre-existing medical conditions, cruises and winter sports – and there’s no age limit, which means our partners are well positioned to cater for most risks”.

Just Travel Cover is now looking ahead to the summer season with optimism, closely supporting its network of insurance brokers to cater for the increased demand for holidays and Travel Insurance.

About alastair walker 12125 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.