Q. First of all, to give a bit of context, what’s your background in the travel insurance sector, and how has your career brought you to Cover More Europe?

I have worked in the travel insurance sector for 20 years, starting my career in operations before moving into underwriting, relationship management, sales, and product development. That breadth of experience has given me a strong understanding of the industry from multiple perspectives, from customer experience through to product design and distribution.

I first joined Blue Insurance in 2012, which is now part of Cover-More Europe. After several years with the business, I left to pursue other opportunities in the industry. However, I stayed closely connected with many of my former colleagues and partners, and those relationships remained strong.

When the opportunity arose to return and join Cover-More Europe, it felt like the natural next step.

Q. Data from Multitrip.com, one of the Cover-More Europe brands, suggests many travellers still delay buying cover until close to departure – which obviously makes the cancellation benefit somewhat less useful than intended. What behavioural shifts are you seeing in when and how customers purchase travel insurance, and what are your thoughts about what is driving those decisions?

Many travellers are booking holidays closer to their departure date. Online platforms make it quick and easy to arrange a trip at short notice, and in a backdrop of economic uncertainty and inflation, people are often more inclined to delay decisions until they feel confident to commit.

As a result, travel insurance is frequently purchased only once plans are finalised. At the same time, we’re seeing that customers want more choice and flexibility in how they protect their trip, including the ability to tailor cover features, such as their excess, to better match their needs and budget.

Q. With customers increasingly valuing simplicity and ease of purchase, how is the online buying journey evolving, and what are the key friction points still impacting conversion rates? How can the industry overcome these pinch points?

It is essential to ensure that the process works seamlessly across devices. For example, making sure that the mobile experience is as effective as the desktop, and avoiding things like large pages to scroll through, or interaction elements which work well with a mouse, but not with a touchscreen.

Simplicity of language is also key, as consumers need to clearly understand what they are buying, and the information that they are required to provide, without having to understand technical language or industry jargon.

We’re seeing that customers want more choice and flexibility in how they protect their trip, including the ability to tailor cover features, such as their excess, to better match their needs and budget

It is also important to integrate features that consumers now value, and expect to be able to use, such as a mobile wallet and payment options, to make the checkout process as easy as possible, and minimise the amount of data entry customers are required to make.

Finally, it is vital to ensure that feedback loops are in place and are effectively used. By constantly monitoring usage data, actively seeking user feedback, and monitoring other customer outcomes, these can be fed back into journey design and used to improve the user experience.

Q. In a cost-of-living-constrained environment, are you seeing more customers trading down on cover levels, and how do you balance affordability with ensuring adequate protection?

More than half of holidaymakers see holidays as a top priority this year, and one of the last things they will cut back on. Only one in six say they choose the cheapest travel insurance policy.*

We generally see a mix within our customer base between customers focused primarily on the cheapest price and those who place greater value on broader policy benefits. Through education within our sales journeys and customer communications, we’re seeing more customers looking to tailor their cover, for example by changing the excess, adding specific benefits, or enhancing cover.

To balance affordability with protection, we present clear cover plans with transparent differences between them. All our products are designed to provide a safety net, even in lower-cost plans, so there is no compromise on core protection, and we maintain minimum standards for key benefits such as cancellation, medical expenses, and liability limits.

Q. Premiums have risen across the market (although whether these rises are sufficient to cover rising medical costs remains to be seen). How much of that is being driven by medical cost inflation, claims severity, or underwriting changes, and where do you see pricing heading over the next 12–24 months?

All these factors are playing a role. Medical cost inflation is a challenge for all insurance providers, with the cost of overseas treatment and medical repatriation increasing in a number of popular destinations such as the US, Egypt, and Turkey, and this is likely to continue.

Several structural forces are reshaping travel insurance over the next five to 10 years

Whilst the cost of medical treatment remains the biggest driver of claims severity, the increasing number of disruption events, such as adverse weather, is also having an impact.

To help keep premiums competitive, insurance providers will increasingly rely on data to make smarter decisions around underwriting, product design, claims cost management, and operational costs.

Q. Medical claims account for a significant share and are often the most expensive. How are claims patterns evolving, particularly in high-cost destinations like the US? Are costs in Asia now comparable in some destinations?

The US continues to be the most expensive market globally, particularly for hospital care and emergency treatment. Traditionally, some US states were more expensive for treatment, but our experience now shows that treatment costs across the US have caught up with the traditional hotspots of California, New York, and Florida. The US continues to drive a significant share of large claims.

Some Asian markets can also be expensive, particularly with the growth of private hospitals and increased claims severity in destinations such as Thailand, Singapore, and Hong Kong. Costs vary depending on the treatment provided, but on average these destinations can produce costs comparable to popular Western Europe holiday destinations.
 

Q. Looking ahead, what do you see as the biggest structural challenges for the travel insurance sector (whether that’s geopolitical risk, climate-related disruption, or regulatory pressure) and how should the industry respond?

Several structural forces are reshaping travel insurance over the next five to 10 years. The most important cut across regulation, geopolitics, climate, technology, and changing customer expectations.

Regulatory expectations have already shifted, with the [UK’s] Financial Conduct Authority (FCA) introducing the Consumer Duty in July 2023, which set a new standard for consumer protection. This is likely to evolve further towards simpler, more transparent products, careful and responsible use of AI, and stronger product governance, making things better for the customer.

For example, the Central Bank of Ireland’s Consumer Protection Code came into effect in March 2026. This framework establishes statutory obligations for all regulated insurance firms and intermediaries, such as Cover-More Europe, to ensure customer interests are embedded in product design, sales, and ongoing support.

The potential increased frequency of conflict and regional instability, leading to government travel bans and airspace closures, will require more dynamic risk assessment, security assistance within products, and clearer definitions around war-related and disruption-related perils. Climate change will also drive product innovation, with near real-time claims settlement and parametric benefits for weather-related events likely to become more commonplace.

Technology will continue to shape the customer experience with real-time assistance apps, chatbots, geolocation services, and increasingly embedded cover within digital wallets and booking platforms becoming more common. Customers will also increasingly expect straight-through claims processing, with AI supporting validation and improving speed and efficiency.

* 2026 Opinium survey of 1,000 UK holidaymakers for Multitrip.com

Christian Bennett, Head of Travel and Mobility, Cover-More Europe, part of Zurich Cover-More
With over 20 years of experience in the industry, Christian started his career in operations, before moving into underwriting, relationship management, sales, and product development.