Your Travellers Choice Travel Insurance - Chris Watson Travel · 2016-03-22 · Travellers Choice...
Transcript of Your Travellers Choice Travel Insurance - Chris Watson Travel · 2016-03-22 · Travellers Choice...
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Your Travellers Choice Travel Insurance
March 2016
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Travellers Choice Travel insurance
| 2
1. Travellers Choice Travel Insurance
2. Travellers Choice Customer Experience
3. Our commitment
4. What's next
5. Q & A session
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Travellers Choice Travel Insurance
Cover-More wants to change the way your customers think about travel insurance We have spent significant time with agents and your customers nationally developing this new product. We have designed a product that will deliver
• quality products backed by superior service
• greater returns for your business • streamlined processes and systems for ease of use.
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A new way of looking at travel insurance
We are making some exciting changes to your two core travel insurance products. We have made key changes: • Simplifying the product benefits without reducing cover
• Redesigning the product value proposition for Travellers Choice customers
• Deliver compelling value at point of sales that streamlines the consultant and
customer experience
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New product
NEW Comprehensive Care and Global Medical and Cancellation Products
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Comprehensive Care
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Comprehensive Care product
Plans available on the new Comprehensive Care product are: • International • Domestic • Domestic Cancellation
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Comprehensive product old benefits table
Here you can see the old benefits table with 16
benefits.
There are only 2 plans available International
and Domestic.
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Comprehensive Care new simplified benefits table
With Comprehensive Care there are now 10 new simplified policy benefits. Comprehensive Care includes International as well as both Domestic and the Domestic Cancellation Plans
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Simplifying benefits without reducing cover
What has changed? Details
Comprehensive Care Product
Benefit 1 - Overseas medical and dental expenses • Now includes: - All health related emergency accommodation and transport - Hospital incidentals - Resumption of Journey
Benefit 2 – Emergency accommodation and transport
• Now includes: - All non-medical/dental related events - Special events benefit
Benefit 3 - Amendment or cancellation costs • Unchanged
Benefit 4 - Travel delay essentials • Now includes: - Travel delay - Delayed luggage
Benefit 5 - Luggage, travel documents and money • Now includes: - Introduction of coverage for Mobile Phones - New separate item of $750 - Money benefit
Benefit 6 - Rental Car Insurance Excess • Now includes: - Increase limit to $10,000 - Remove the requirement for an add-on
Benefit 7- Loss of income • Unchanged
Benefit 8 - Disability and Accidental • Now includes: - Disability - Accidental Death
Benefit 9 - Transport hijacking • Unchanged
Benefit 10 - Personal liability • Unchanged
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BENEFIT 1: OVERSEAS MEDICAL
AND DENTAL EXPENSES
Limit per adult INTERNATIONAL PLAN - $Unlimited DOMESTIC PLAN - $10,000 DOMESTIC CANCELLATION – Cover Chosen The Overseas medical and dental expenses benefit has been simplified. It now includes cover for: • All Health related emergency accommodation
and transport • Hospital incidentals • Resumption of Journey
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BENEFIT 2: EMERGENCY
ACCOMMODATION AND TRANSPORT
Limit per adult INTERNATIONAL PLAN - $20,000 DOMESTIC PLAN - $10,000 DOMESTIC CANCELLATION – Cover Chosen The Emergency and accommodation benefit replaces the Additional Expenses benefit and combines: • Non-medical or dental related additional
expenses • special events
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BENEFIT 3: AMENDMENT AND
CANCELLATION Limit per adult INTERNATIONAL PLAN - $3,000 or $Unlimited DOMESTIC PLAN - $10,000 DOMESTIC CANCELLATION – Cover Chosen Cancellation NOW per person i.e. four Adults x $3,000 cancellation increment will be recognised on one policy as $12,000 Plan is Limit per adult and Cover chosen.
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BENEFIT 4: TRAVEL DELAY ESSENTIALS
Introducing Travel delay essentials.
This new benefit now includes:
• Travel delay
• Delayed luggage
These were previously two separate
benefits on the old product.
Limit per adult INTERNATIONAL PLAN - Travel delay $2,000 - Delayed luggage $,1000
This new benefit now includes: • Travel delay • Delayed luggage
These were previously two separate benefits on the old product. DOMESTIC PLAN - Travel delay $750
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BENEFIT 5: LUGGAGE TRAVEL
DOCUMENTS AND MONEY Increase on
the item limit
for mobile
phones from
$500 to $750.
New for old
replacement
for items less
than 2 yeas
old.
The Luggage, travel documents and money benefit has been streamlined. Now includes the • Money benefit within this benefit. • NEW inclusion of Mobile Phone separately at $750 Item limits for Cameras, Videos and individual items remains unchanged.
NOW INCLUDES - NEW FOR OLD
NO depreciation for items under 2 years old
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BENEFIT 6: RENTAL CAR INSURANCE
EXCESS
Limit per adult INTERNATIONAL PLAN - $10,000 DOMESTIC - $4,000 The Rental Car Insurance Excess • Increased cover limit for the International Plan • Increased to $10,000 • Removed the need an additional add-on
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BENEFIT 7: LOSS OF INCOME
Limit per adult INTERNATIONAL PLAN - $9,000 DOMESTIC - $1,500 The Loss of income benefit cover and limit per adult remain unchanged.
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BENEFIT 8: DISABILITY AND
ACCIDENTAL DEATH
Limit per adult INTERNATIONAL PLAN - $25,000 DOMESTIC PLAN - $10,000 The Disability and Accidental death benefit is now has been combined under the new benefit These were previously separate benefits. The plan limits per adult remain unchanged.
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OTHER ESSENTIALS TO PROTECT YOU
Limit per adult INTERNATIONAL PLAN - $8,000 The Transport hijacking benefit is now benefit 9. Item limit has not changed
Limit per adult INTERNATIONAL PLAN - $2,500,000 The Personal liability benefit is now benefit 10. Item limit has not changed
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Introducing Travel delay essentials.
This new benefit now includes:
• Travel delay
• Delayed luggage
These were previously two separate
benefits on the old product.
Snow Sports cover is now included as part of the Comprehensive Care product Removed as an add-on and there is no additional charge
SNOW SPORTS
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MOTORCYCLE/MOPED COVER
Motorcycle/moped cover is free of charge for valid Australian motorcycle licence holders “Your policy automatically includes cover for motorcycle or moped riding: if whilst in control of a motorcycle or moped You hold a valid Australian motorcycle licence” If you do not hold a Australian motorcycle licence the charge remains $25 per person
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Global Medical and Cancellation
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Global Medical and Cancellation product
Plans available on the new Global Medical and Cancellation product are: • International • Inbound
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Basic product old benefits table
Here you can see the old benefits table with 11 benefits. There are two plans available International and Domestic Cancellation
Here you can see the old benefits table with 11 benefits. There are 2 plans available • International • Domestic Alternative
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Global Medical and Cancellation new benefits table
Have asked Roni for high res images for this
With Global Medical and Cancellation there are now 4 new simplified policy benefits. There are two plans available International and inbound
With Global Medical and Cancellation there are now 4 new simplified policy benefits. There are 2 plans available • International • Inbound
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What has changed? Details
Global Medical and Cancellation Product
Product name change • Basic is now called Global Medical and Cancellation
Plans available • International and Inbound
Simplified Benefits Table
• Benefit 1 - Overseas medical and dental expenses • Benefit 2 - Emergency accommodation and transport • Benefit 3 - Amendment or cancellation costs • Benefit 4 – Medical and dental expenses in Australia
Cancellation cover • Customers have a choice of $0 or $3,000 for cancellation cover. • Unlimited cover is no longer available.
Summary of changes
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BENEFIT 1: OVERSEAS MEDICAL
AND DENTAL EXPENSES
Limit per adult INTERNATIONAL PLAN - $Unlimited INBOUND - $Unlimited The Overseas medical and dental expenses benefit has been simplified. It now includes cover for: • Health related emergency accommodation and
transport • Hospital incidentals These were individual benefits on the old product.
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BENEFIT 2: EMERGENCY
ACCOMMODATION AND TRANSPORT
Limit per adult INTERNATIONAL PLAN - $10,000 INBOUND - $10,000 The Emergency and accommodation benefit replaces the Additional Expenses benefit and combines: • Non-medical or dental related additional
expenses
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BENEFIT 3: AMENDMENT AND
CANCELLATION Limit per adult INTERNATIONAL PLAN - Choice of $0 or $3,000 INBOUND - Choice of $0 or $3,000 Cancellation NOW per person i.e. four Adults x $3,000 cancellation increment will be recognised on one policy as $12,000 The Amendment or Cancellation benefit has been modified and Customers can choose between $0 or $3,000 level of cover. If unlimited cover is required, customers should go onto the Comprehensive product
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MEDICAL AND DENTAL
EXPENSES IN AUSTRALIA
Limit per adult INTERNATIONAL PLAN - $Nil Inbound - $1,000,000 Medical and dental expenses in Australia This benefit covers the customer for the usual and customary costs of medical and emergency treatment and ambulance transportation which is provided in Australia for Inbound travellers
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New area structure
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New area structure
We are introducing two new areas – the United Kingdom and New Zealand. The two new areas will apply for International Plans on both Comprehensive Care and Global Medical and Cancellation single trips. Because of reciprocal rights Australia has with UK and NZ, it means the risk associated with travellers going to those countries is reduced. The process of quoting insurance won’t change for you, the change is behind the scenes. What this will mean for your customers is a more competitive premium when travelling to the United Kingdom and New Zealand.
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Cruising specific question in B2B
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Increase on
the item limit
for mobile
phones from
$500 to $750.
New for old
replacement
for items less
than 2 yeas
old.
Cruise Question?
To enable the development of a cruise travel Insurance product we have included a cruise specific question
for data collection purposes only in B2B
Prior to finalising a policy there is a requirement to complete a ‘Yes’ or ‘No’ question
There is no additional premium charged and no change to policy coverage.
.
CRUISE SPECIFIC QUESTION IN B2B
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Increase on
the item limit
for mobile
phones from
$500 to $750.
New for old
replacement
for items less
than 2 yeas
old.
.
CRUISE SPECIFIC QUESTION IN B2B
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Our commitment
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Our commitment
In the months ahead we will be providing you with personalised products and innovations that will benefit you and your customer. As the experts in travel you are central to creating a value proposition unique for Travellers Choice customers. We want to ensure your travel insurance, Travellers Choice Travel Insurance meets your business and your customer needs. We want to hear from you and submissions can be made by emailing [email protected]
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What’s next?
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What’s next?
Activity Date
Announcement to market of product launch 15 March 2016
PDS delivery will commence 15 March 2016
Reminder communication to close off all quotes 17 March 2016
GO LIVE with Travellers Choice Travel Insurance 23 March 2016
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Questions?