Navigating the insurance landscape
Lourdes F Peters, President and CEO at World of America, speaks to ITIJ about travel insurance values, and the importance of AI
You’ve mentioned before that travel insurance is key to the industry as a whole. Can you tell us why you think that is the case?
Every participant in the travel industry has been overwhelmed by the upsurge. Travel insurance products have transformed depending on the region, the available modes of travel, and the nature of the climate. Travellers fear being unable to return home due to some awful natural disaster, political turmoil, illness, or cancellations. They look to be safe all the time.
What do you think all insurance products should adapt to?
Insurance companies and products must be dynamic and ready for each client, including in terms of language, proximity to service, availability of service, timely response, and reimbursements.
Can you tell us why travel insurance might be an exception to this?
Travel insurance is unique in that it operates within specific days, offering limited coverage and specified benefits. It's important to note that it's not intended for long-term situations, but rather for the duration of the trip.
Every participant in the travel industry has been overwhelmed by the upsurge
How can artificial intelligence (AI) be useful for travel insurance?
AI has revolutionised the way we access and utilise information. In the context of travel insurance, AI can be a game-changer. It empowers consumers to ask specific questions about their policy, providing them with all the necessary information to navigate their situation in any country. Furthermore, it compares their benefits to enhance the services available at their location.
Lourdes F. Peters President and CEO, World of America
Lourdes is a member of the pioneering family that introduced international private medical insurance (IPMI) and travel insurance to the LatAm and Caribbean markets 40 years ago. She was one of the founders of the IHI Wellbeing University which dealt with problem solving high claims volume surrounding health and critical issues in the corporate market and implementing procedures to reduce cost. Her business acumen comes from previous careers in banking and advertising. As a lead consultant for several of the most prominent international insurance companies, Lourdes brings deep expertise in risk management and coverage strategies. With her dedicated focus and strategic vision, Lourdes is an influential figure in the field of international insurance, making significant contributions to industry advancement and leadership.
November 2024
Issue
This month we look at affinity partnerships and ask if online travel agencies are the perfect partners for insurers; we cover the trends around cruising in the Mediterranean; we delve into the specifics of the Austrian healthcare system; plus we examine international healthcare and technology, asking how far can technology go.
Editorial Team
The Editorial Team updates the ITIJ website daily, and works on features for the print edition. With expert industry knowledge and years of experience in writing about complex travel insurance issues, the Editorial Team is ready to investigate and report on the topics that matter most to ITIJ's readers.
