Travel insurance provider Etiqa Insurance has made waves in the Singapore insurance marketplace by offering transit travellers online travel insurance that they can purchase while in Singapore, enabling them to conveniently adopt the plan should they decide to take return trips from the island city.
Etiqa’s Tiq Travel Insurance marks the first instance of protection plans being offered to tourists on foreign visas in Singapore, and it will greatly benefit foreigners travelling to the city to see friends and relatives. As of June 2018, foreigners, permanent residents and new citizens made up over 40 per cent of the population in Singapore.
"When travellers come to Singapore to visit their friends and relatives who are working or studying here, they may have plans to travel together. We see the potential of Visiting Friends and Relatives (VFR) travel in Singapore and wish to extend simple and convenient travel protection to all," said Sue Chi Kong, CEO of Etiqa.
Tiq travel Insurance includes features such as three-generation family plan and automated flight delay benefits upon three consecutive hours of delay, as opposed to the industry average of minimum six hours' delay. At present, overseas visitors with travel plans that begin and end in Singapore can be covered under the Group, Family and Married Couple plans, as long as the Policyholder is a Singapore citizen, permanent resident of Singapore or foreigner residing in Singapore with a valid pass.