US-based VisitorsCoverage is now including comprehensive Covid-19 coverage and a daily indemnity quarantine stipend in its CoverAmerica-Gold travel insurance plan. The new provision will cater to the needs of global travellers planning to travel during the Covid-19 pandemic.
Comprehensive plans a popular choice amongst customers
“The response to our free public Covid-19 screenings was overwhelming,” Rajeev Shrivastava, CEO and founder of VisitorsCoverage, said. “We knew that travel insurance benefits needed to be fast-tracked by underwriters so we could offer our customers policies that included therapeutics, hospitalisation, mandatory quarantines, and repatriation.”
Shrivastava continued: “At VisitorsCoverage we are continually innovating to provide the best coverage for our international base of global travellers. A vaccine may not be widely available until 2021 and recent news revealed there is the possibility that being previously infected with Covid-19 may not guarantee immunity. Travellers will not be able to travel with confidence without purchasing travel medical insurance that includes comprehensive treatment coverage for Covid-19 and unexpected quarantines.”
Adapting to survive
Shrivastava notes that the travel medical insurance business is a legacy industry going back 100 years. “Its disruption by insurtechs in the last two decades in response to market demand has been an evolution,” he added.
The changing travel landscape, which now includes the possibility of future pandemics, natural disasters, and global incidents, is a volatile place. Insurers, underwriters, travel agents and medical assistance providers all need to adapt to stay above water – and updating a policy to reflect the shifting needs of travellers is just one of the ways to do so.