Among the trends identified by the insurer by is an upsurge in even younger people interested in obtaining travel insurance. Such insurance is being favoured by Generation Z (up to age 24) and Millennials (age 25-40). Another pattern is such travellers opting for ‘cancel for any reason’ policies, to give them some certainty if things go wrong.
Joe Cronin, President of International Citizens Insurance said: “People at a younger age are now seeking out travel insurance. There are more people in the 25-44 age group who are investing in travel insurance now than before the pandemic began, and the age group below that too, from age 18 upwards. And even though they understand their insurance premiums might be higher, there is a trend towards people opting for ‘cancel for any reason’ policies because they want to cover all bases, whether they are deciding to move to a new country or to travel.”