Search Travel Market Report

Silversea Bookend Ad
Silversea Bookend Ad
mainlogo
  • News
  • Tours & Packages
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Niche & Luxury
  • People & Events
  • Training
  • Who We Are
    • Dan McCarthy
    • Denise Caiazzo
    • David Cogswell
    • Marilee Crocker
    • Richard D'Ambrosio
    • Steve Gillick
    • Mary Gostelow
    • Maria Lisella
    • Jessica Montevago
    • Paul M. Ruden
    • Daine Taylor
    • Barbara Peterson
amawaterways
AC
silversea

Offering Travel Insurance To Build Client Satisfaction And Sales

by Richard D’Ambrosio / October 12, 2016


Consumers frequently don’t discuss travel insurance protection with their agent because they think they’re already covered, or they don’t think they would ever need it. At the same time, travel agents are sometimes reluctant to introduce insurance options because interjecting the prospect of a catastrophe during a booking discussion doesn’t feel right.

As a result, travelers often head out on their trip less than fully protected in the event of an unforeseen trip cancellation or medical event, while agents lose an opportunity to close on a high margin sale. According to ASTA member surveys, travel agencies generate $3,619 in insurance-related revenue, or about 3.1% of median annual revenue.

“It’s a balancing act,” said CSA Insurance operations vice president, Bob Chambers. “Travel agents sell dreams, and finding the appropriate timing to discuss insurance can be difficult. The good agents recognize that insurance is good for their customers.” CSA Travel Protection is based in San Diego, CA.

Be a consultant
One of the ways that agents can introduce travel insurance is by helping do an inventory of existing insurance a traveler may already own and helping explain where there might be coverage gaps.

Agents can also make a sales pitch based on their client’s itinerary. “If they’re going on a cruise and not getting off much, and there is access to a ship’s doctor, the cruise line’s insurance might be enough,” said insuranceQuotes.com senior analyst, Laura Adams. “But if your clients are getting off and doing strenuous activities, they likely should get additional insurance.”

Adams also advised agents to consider their client’s age as an opportunity to sell insurance for a trip. “Seniors are a big target of travel insurance because they might be on Medicare. They are not going to be covered overseas,” so travel insurance would be beneficial to them for an international trip, Adams said.

Dan Durazo, director of communications at Allianz Global Assistance, believes that “the best time to offer travel insurance is when the client is initially booking their trip and the agent knows the cost.  The agent can then suggest a travel insurance policy that is best suited to the customer and can provide a quote.”

Durazo also reminded agents to focus on a simple value proposition, like easing the more commonplace travel worries. For example, in a survey conducted this summer by the Chief Marketing Officer (CMO) Council’s GeoBranding Center and AIG Travel, 66.5% of travelers rated flight delays and cancellations as the number one stressor, an event travel insurance can cover.

“Travel insurance provides real peace of mind,” Durazo said.

Don’t worry about having every answer
Some travel agents are hesitant to offer travel insurance because policies and coverage can vary from company to company, and agents may not feel comfortable answering detailed client questions. Isaac Cymrot, vice president of industry relations, Travel Insured International, said, that’s when it’s completely appropriate to conference in an insurance provider’s customer service representative.

“We coach agents to say things like, ‘Those are great questions about the plan details, do you mind if I get my travel insurance expert on the line to help answer your questions?’” Cymrot said.

Many insurers, like Allianz Global Assist, offer online tools that agents can use while on the phone with a client. Allianz’s AgentMax platform helps agents access and present policies to their customers and easily follow up a consultation by e-mailing the customer a quote or confirmation.

“The customer is coming to you because you provide a value they can’t find purchasing their travel online. If you portray confidence when discussing the importance of insurance, that can carry more weight than the actual words you choose,” Cymrot said.

Objection handling
Some clients are initially averse to accepting travel insurance, either thinking that their medical plan or their credit card provides insurance. Others may simply not expect to need it. That’s when agents need to use their objection handling skills.

Cymrot suggests a reply something like this: “Many of my clients have shared the same feeling about not needing insurance but were glad they reconsidered. If it’s ok, I would like to send you an email quote so you have the information should you choose to reconsider also.”

“Agents should remind customers that medical evacuations can run into the tens of thousands of dollars and travel insurance is usually the only insurance product that will arrange and pay for an evacuation,” Durazo said. “Traditional health insurance may or may not pay for medical treatment abroad (Medicare will not), but foreign healthcare providers often demand full payment in advance, leaving travelers to scramble for funds.”

If a client still resists, there might still be an opportunity to offer travel insurance after an itinerary has been purchased. Allianz’s AgentMax platform offers an email marketing tool called MaxMail, to send clients a co-branded reminder about purchasing travel insurance. Agents can plan a series of emails that coincide with the client’s complete travel decision making process.

Finally, Durazo and others recommend that agents ask clients who decline coverage to sign a waiver. “This may cause them to reconsider and at least will provide a record that insurance was offered and declined,” he said.

  4
  2
amawaterways
AC
Related Articles
Travel Insurance Made This Skeptic a Believer
Trip Protection and Travel Insurance: Are They the Same Thing?
Offering Travel Insurance to Groups Can Boost an Agent’s Income

MOST VIEWED

Brought To You By
  1. The 15 Most Anticipated Hotel Openings in 2020
  2. U.S. and U.K. Issue Advisory for Women Traveling to India
  3. Abercrombie & Kent Acquires Cox & Kings UK
  4. What is the Process Like for Getting a REAL ID?
  5. Black Friday and Cyber Monday Hotel Deals
  6. Here are the Airlines Where You are Most Likely to Get Bumped

MOST EMAILED

Brought To You By
  1. State Department Issues Travel Advisory to Hong Kong as Unrest Continues
Tip of the Day
Brought To You By

“It’s our responsibility to become resources and be known with our congresspeople so they know who we are. As travel companies, we are continuing to grow and all that helps both our local constituents and local economy. We don’t just want to go to them when there’s a problem, we want them to go now.”

Jennifer Wilson-Buttigieg

Valerie Wilson Travel 

 Share...
Daily Top List
Brought To You By

Best Budget travel destinations

1. San Antonio, Texas

2. Puebla, Mexico 

3. Hawaii

4. St. Helena

5. Province of Laguna, the Philippines 

6. The Balkan Peninsula 

Source: Forbes.com

 Share...
Previous Daily Top List
amawaterways
Silversea
TMR Recommendations
Silversea
With 900 destinations across 7 continents, Silversea will take you wherever you dream to go.
hbar
MSC
With discounted group rates and protected consumer amenities, you'll love MSC Cruises NEW EZ Groups
hbar
Events 365
The NBA season tips off on Tuesday 10/22! Earn big on game tickets from Events365!
hbar
Riviera
Explore Europe's iconic waterways with the UK's leading river cruise line, earn lifetime commissions
hbar
Top Stories
ACTA Calls on Agents to Help Reform Travel Industry Act in Ontario
ACTA Calls on Agents to Help Reform Travel Industry Act in Ontario

Industry organizations argue that the Travel Industry Act is an outdated model that would heap undue financial burden on Ontario travel advisors.

 Read...
What Types of Travel Social Posts Get the Most Shares?
What Types of Travel Social Posts Get the Most Shares?

Passport Online’s top 30 agent Facebook posts reveal some patterns that could help increase your social visibility.

 Read...
Thanksgiving is Coming with All the Trimmings This Year for Travel Advisors
Thanksgiving is Coming with All the Trimmings This Year for Travel Advisors

On top of record traveler numbers, average lodging spend is up 20%, as travelers extend their length of stay.

 Read...
New York Times Tells Consumers to Use an Agent for Luxury Travel
New York Times Tells Consumers to Use an Agent for Luxury Travel

The columnist learned first-hand that when booking a high-end vacation, using a travel agency can mean scoring perks and benefits that would cost hundreds, at no cost to the traveler.

 Read...
New Evidence Brick And Mortar Travel Agencies Aren’t Dead
New Evidence Brick And Mortar Travel Agencies Aren’t Dead

A new storefront location in downtown Toronto from Canada's best-known online travel retailer proves person-to-person interaction with an expert advisor is just as important as ever. 

 Read...
This Year Could Be the Busiest Thanksgiving Travel Weekend in Over a Decade
This Year Could Be the Busiest Thanksgiving Travel Weekend in Over a Decade

More than 55 million people are expected to travel over the next few weeks, according to AAA, as the holiday travel season officially kicks off.

 Read...
News Briefs
  • Hahn Air to Issue Airline Tickets Using Blockchain Technology
  • Vision Travel Announces Direct Travel Rebrand in Canada
  • Travel Advisor Community Makes Final Push for California Labor Bill
  • California Senate Approves Gig Economy Bill
  • U.S. Senators Introduce Bill of Rights for Airline Passengers
  • Southwest Airlines Partners with Nintendo for ‘Summer of Surprises’
TMR Outlooks
Ocean Outlook 2019
River Cruise Outlook 2019
Niche Outlook
View All
About Travel Market Report Mission Editorial Staff Advisory Board Advertise Travel Trade Readership Report
TMR Resources Webinars Calendar of Events
Subscribe to TMR
Select Language
Do You Have an Idea Email
editor@travelmarketreport.com
Give Us a Call
1-(516) 730-3097
Drop Us a Note
Travel Market Report
243 South Street, OysterBay, NY, 11771
News|Leisure Travel|Land Vacations|Cruise|Canada Retail Strategies|People|Luxury|Training
© 2005 - 2019 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | 243 South Street, Oyster Bay, NY, 11771 USA | Telephone (516) 730-3097| Terms and Conditions
Cookie Policy Privacy Policy