Travel insurance is now available on the online platform of insurtech firm InsuranceDekho, broadening its product line. To provide travel insurance products, InsuranceDekho has partnered with HDFC Ergo, Reliance General, Care, ICICI Lombard, and Bajaj Allianz, and is currently in the process of forming relationships with additional insurers.
The platform covers 198 countries with pricing starting at Rs. 552 in the offer curated travel plans for family, individual, corporate or students. The subject of terms and conditions may vary from insurer to insurer. The policy covers a wide range of areas but depends on the plan you choose. However, almost all of them include important covers like loss of passport, flight delay, loss of checked-in baggage, emergency medical expenses, medical evacuation, among others, said the firm.
Ankit Agrawal, Co-Founder and CEO of InsuranceDekho, said, “In the post-COVID era, Indians are traveling again with international travel growing at 76% YoY which has widened the market for insurance providers. There is high digital adoption for travel insurance as currently more than 33% Indian international travelers buy insurance directly from the insurance company’s websites, which makes this an attractive segment for innovation and disruption. We are building InsuranceDekho as a one-stop shop for all insurance solutions and diversified investment options; this is one crucial step in that direction."
India’s travel insurance market is estimated to be USD 892 Mn in 2022 and is expected to exceed $2 billion by 2027, growing at a CAGR of 17.6%.
Currently, InsuranceDekho also provides a complete digital journey for its line of auto, health, life, travel, and pet insurance products. The platform enables customers to match different insurance policies and provides them the perfect decision on the requirement basis. The firm works with almost all insurance providers and has direct integration with 45 insurance companies throughout India and provides greater than 300 insurance merchandise.
The firm said that InsuranceDekho intends to develop its portfolio by offering extra merchandise on its various platforms in the near future.
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