TravelCard to relaunch sales this year
Australian travel insurance provider TravelCard has confirmed it will resume travel insurance sales in the second quarter of 2023
The business ‘paused business operations’ in mid-October 2020 in the wake of the coronavirus pandemic, which saw significant reductions in international travel. While the company ‘stopped quoting and binding new travel insurance policies’ from that date, it continued to serve existing policyholders.
According to a report by insurancenews.co.au, the decision by TravelCard to relaunch sales followed the start of negotiations for an underwriting arrangement with fellow Australian firm Guild Insurance. Prior to the pandemic, TravelCard’s policies were underwritten by Hollard.
TravelCard CEO Peter Klemt confirmed that the company would hold a ‘soft launch’ at the Steadfast general insurance convention in Perth in March.
Klemt added that the company would be sticking to its ‘broker-first’ distribution strategy, but would look at other channels, including direct sales, at a later stage. The relaunch will begin with leisure travel products, with corporate travel products following in the fourth quarter.