29 December 2017

AIG Singapore introduces online travel insurance offer

AIG Asia Pacific Insurance (AIG Singapore) has launched a new online travel insurance product – Travel Guard Direct – that leverages data to provide customers with insights on their destination countries. as part of its push to digitise the customer journey from purchase to claims, bringing greater efficiency and convenience.

The product is the first in Singapore to allow customers access to real-time claims information for top destination countries across Asia Pacific, the US and UK, so that customers can better understand travel risks, and make informed choices about the level of coverage they need. Real-time information on the platform includes claims for top destinations; for example, top claims for travellers to Thailand tend to be medically related.

It is priced according to destination, duration and age, so customers can benefit from more accurate, effective pricing based on the risks involved. Customers can also select a plan by travel destination, when they had to figure out which zone their destination belongs to in the past.

Ignatius Chng, VP and Head of Group Personal Insurance, AIG Singapore, said Travel Guard Direct was developed with a more customer-centric experience in mind and is part of the company’s ongoing digital transformation efforts to use technology to meet changing customer needs.

“As a market leader in travel insurance, we wanted to harness our data and digital capabilities to profile customers more effectively and deliver more relevant solutions. As customers are more digitally savvy, they prefer bite-sized information and fuss-free online purchases. With Travel Guard Direct, we hope to create a more personalised experience that reflects each individual’s preferences and circumstances.” Chng said.
The move follows a tieup with DBS to offer instant travel claims e-payment in October. AIG Singapore’s policyholders who are existing DBS or POSB account holders will receive quick payouts to their bank accounts for successful travel insurance claims once these have been approved, without needing to wait for cheque payments. As an example, travel inconvenience claims involving flight or baggage delay are expected to take three working days, down from the current eight. 

Travel Guard Direct provides four plan types: Basic, Standard, Enhanced and Supreme. Customers can select either a return or one-way trip option, while the Enhanced and Supreme plans include an add-on Cruise Vacation Benefit, which provides customers with cover on their cruise vacations by topping up as little as S$3. 

Customers will also be able to submit and receive claims, as well as view price comparisons for individual trips and annual policies on AIG Singapore’s website.