travel insurance policies increased in FY21-22 compared to pre-covid levels in FY19-20, as per a survey by ICICI Lombard General Insurance.
The survey, conducted on consumers from the Indian markets, analysed the impact of the pandemic on travellers' attitudes and expectations and found that travellers are now more receptive to purchasing travel insurance to mitigate potential financial losses.
ICICI Lombard settled 3,378 travel insurance claims, almost 1.37 times higher than last year. One-third of respondents claimed to have purchased ICICI Lombard travel insurance after the pandemic, the insurer claimed.
The survey was conducted with 786 domestic and international travellers. “Our research indicates that the outbreak has raised awareness of the importance of travel insurance.