Allianz launches digital platform for tailored travel cover
The insurer has launched a digital travel insurance platform that allows partners to provide different levels of cover to customer segments
Allianz Partners has launched a new digital travel insurance platform designed to give banks and loyalty programme providers greater flexibility over the cover offered to their customers.
The Metaportal platform enables customers to activate and manage travel insurance online and add optional benefits according to their trip and individual requirements.
Additional cover available through the platform includes cruise and snow sports insurance, adventure travel protection, higher cancellation limits, extended trip durations and options to reduce excess levels.
For banks and other partners, the system can be configured to provide different levels of cover and benefits to individual customer segments. It can also be integrated into a partner’s existing digital channels rather than requiring customers to move to a separate platform.
Responding to regulatory change
The launch comes as financial institutions in Australia respond to regulatory changes affecting interchange revenue and card payment economics. According to Allianz Partners, these changes are prompting some organisations to reconsider how benefits associated with payment cards and loyalty programmes are structured and funded.
Damien Arthur, Executive Head of Travel at Allianz Partners Australia, said travel insurance linked to financial products had traditionally tended to follow a standardised model, but changing customer expectations were increasing demand for greater flexibility.
“The Metaportal gives partners the flexibility to provide a preset level of cover while allowing customers to tailor their protection through optional upgrades and additional benefits,” he said.
The technology behind the platform has also been designed to allow it to be expanded into additional products and sectors in the future.
The launch reflects a wider shift towards more configurable embedded insurance products, particularly within banking and payments, where insurance can be incorporated into existing customer journeys rather than purchased as a standalone product.