How does travel insurance add value to your brokerage?

Loyalty is trending among consumers. And there’s one sure way for your brokerage to increase loyalty among clients and get them the peace of mind they’re looking for.

“Travel insurance is helping drive loyalty with insurance advisors who can help their clients experience worry-free vacations,” explains Roger Marcelo, Vice President of Business Development, Broker Channel, at Allianz Global Assistance, a leading travel insurance and assistance provider.

“Travel is booming again, and more Canadian travellers than ever are turning to their brokers for expert advice on the right policy for their trips — placing brokers in the unique position to offer their clients a full circle of insurance protection that includes travel insurance,” he adds.

VALUE OF TRAVEL INSURANCE Selling highly sought-after travel insurance to Canadian travellers is the exciting new opportunity brokers have been waiting for — and research from Allianz proves why.

According to Allianz’s Vacation Confidence Study, conducted by Ipsos in November 2022, Canadians plan to spend over $14 billion on vacations this year — despite economic uncertainty. Post-pandemic, travellers have become more risk-aware than ever, and almost 90% say they plan to buy travel insurance for their next trip.

“The pandemic and other events, like natural disasters such as Hurricane Fiona, have really caused people to appreciate the need for, and value of, travel insurance,” says Marcelo.

The study showed one in three Canadians say travel insurance is even more important now when travelling abroad since COVID-19. While 37% of travellers said they can’t really afford a vacation this year, they plan on taking one anyway — and these travellers are especially looking to protect themselves and their travel investments.

“And, perhaps not surprisingly, four in 10 Canadians say they would give the gift of travel insurance if they found out their loved ones were planning to travel without insurance. That really hits home just how important travel insurance has become to people after the pandemic. It’s an opportunity for brokers to have a conversation with their clients about upcoming travel plans and travel insurance, and show their value with expert advice. In turn, the client will feel the broker has their back, and they will have peace of mind knowing they can enjoy a seamless, worry-free vacation.”

HELPING BROKERS SUCCEED Allianz has evolved to empower brokers with the tools, data, products, services, and support they need to offer the right protection to their clients — quickly, easily, and confidently.

“Our fully refreshed product suite is a complete end-to-end solution designed for greater flexibility, ease, and an all-around better experience for brokers and their clients,” Marcelo says.

“These robust products focus on the benefits that customers value most,” Marcelo adds.  “Our simplified policy language is refreshingly clear for clients and brokers while being consistent across products.”

For example, Allianz knows Canadians value inclusivity, and the new products reflect this. “Mental health has been removed as an exclusion in our outbound products,” Marcelo explains. “The definition of ‘family’ has also been eliminated, creating a more inclusive experience because families come in all shapes and sizes.”

Allianz’s newly launched point-of-sale platform, AdvisorMax, provides brokers with a modern, front-end portal and enhanced features that make selling policies intuitive. Some of the platform features that brokers are finding very useful include:

• Convenient product displays offering side-by-side comparisons and flexible quoting by category.
• Simplified medical screening with only three intuitive questions to drive ease and speed of quotation — now for travellers aged 65 and older.
• Automatic renewals to make it easier to retain clients.

“With the strength and credibility of the Allianz brand and additional value-added travel insurance and assistance services, such as 24/7 virtual care and mobile claim submission, brokers are able to offer their clients value and peace of mind,” Marcelo adds.

“We are committed to helping our brokers every step of the way and ready to help Canadians explore the world safely and be there in the moments that matter most.”

Allianz is helping brokers build their business with travel insurance in five ways:

• Broad range of insurance solutions.
• Brand loyalty through exceptional service.
• Experienced, national sales support.
• Enhanced knowledge and confidence through engaging training programs and continued learning.
• Shared expertise and best practices across all distribution channels.

To accelerate your business growth, contact Roger Marcelo

Learn more about the Allianz advantage.