RSS FeedRed Sheds to sell travel insurance online National Business Review
The Warehouse is targeting the $90 million market for holiday insurance in a new venture with the country’s largest insurer IAG.
Today, the retailer launched a online travel insurance store offering comprehensive cover for worldwide travel – with The Warehouse’s bargain price promise.
Travel insurance has been available on a small scale throughout Red Sheds stores for eight years, for purchase in four-day blocks.
So far it has captured only 2% of the market, dominated by Southern Cross.
Now, it’s hoping to capitalise on the high volume of weekly traffic to The Warehouse Online and the large number of Kiwis who travel overseas without insurance – an amount the Warehouse estimates to be between 20-40%.
General manager of The Warehouse’s financial services division, Phil Devlin said the company understood many uninsured travellers were unsure where to buy insurance and found the products difficult to understand.
P J Hayman removed age limits on “Free Spirit” travel
P J Hayman has announced changes to its Free Spirit policy in a move that should allow more people with pre-existing medical conditions to travel abroad.
The specialist travel insurer has removed age limits, which were previously 85 years and 79 years respectively, for single trip and annual multi-trip policies.
The firm has also reduce rates for cancer cover by up to 8%; for example a 63-year-old with breast cancer with secondary spread will now pay £261.63 for 17 days’ cover in Europe, a saving of almost £25.
The insurer claims to cover 96% of cases referred, including many terminal cases that are subject to individual underwriting.
It also offers Bond Plus Financial Failure Protection on it’s Free Spirit product, which provides cover of up to £1,500 if the holiday has to be cancelled due to the financial failure of the travel or accommodation provider.
Last Month, P J Hayman hired the Wriglesworth Consultancy to promote its existing range and new initiatives to both consumer and trade audiences.
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