UK travel company Thomas Cook, under its Thomas Cook Money brand, has launched its new pay-as-you-go travel insurance app Roam. Policies, which can be activated at short notice and switched on and off at will – enabling users to potentially save money if a holiday happens to be cut short – start from as cheap as £2 a day.
The aim of Roam is to target travellers who might previously have gone uninsured because of the perceived time and financial expenditure that arranging coverage might have taken. Thomas Cook’s chief financial services officer Anth Mooney suggests that 20 per cent or more of UK holidaymakers travel uninsured, and a recent Direct Travel report found that of the millennial demographic alone, up to 31 per cent travel without cover.
Thomas Cook hopes that offering the service through an app will appeal to today’s digitally-minded consumers, with the on-off option a unique selling point.