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Thursday, 21 September, 2017, 15 : 01 PM [IST]

A Peek into the changing scenario of travel assistance & insurance sector

“My heartfelt congratulations to TravelBiz Monitor for achieving a milestone decade in the travel trade. Being one of the most widely-read and respected publications, TravelBiz Monitor has been the voice of the industry, providing accurate information coupled with analytical reporting. It has been a pleasure to be associated with them since inception. Here’s wishing them the very best and many more decades of success ahead.

In recent times, the travel & tourism industry has seen substantial shift in the perception of customers. More Indians today opt for travel assistance and insurance, in comparison to, say, a decade ago. The trend is gradually catching up among domestic travellers as well, and it only implies that there is a huge potential in the travel assistance and insurance industry.

Travellers are looking for an obstacle-free, on-the-go, personalised experience, when they seek travel assistance. Therefore, it is very important to keep up with the pace of the changing landscape of the industry in India. To accomplish this, there is a need to function above an insurance company mandates and be an end-to-end travel assistance provider for the customer and a solution-driven business partner for clients.

The future lies in innovation and the customers are at the core of it. Staying close to the customer, understanding their needs and challenges leads to innovation. Young travellers are increasingly getting into adventure sports and the need for self-reliance during a tour has also given way to self-drive tours whereas the business traveller may have to hire an office space during the trip. An efficient claims settlement process is not the only requirement any more. Travellers are looking at real-time assistance, while on the go. As an industry our strategies should be aligned towards catering to different customer segments.

We believe in relationship-driven business approach and practice the theory of ‘Inclusive growth’ which I feel is most essential for a sustainable future. Listening, engaging and delivering dynamic business offerings is the need of the hour. Industry leaders should provide a platform to their clients to tap various ancillary revenue generation opportunities and enable them to upsell.

Online presence has also become indispensable. Travellers now expect travel-related information and tips at the click of a button and plan their trip accordingly. Mobility and social media as platforms for marketing, selling and managing the offerings is now table-stakes, not a value-add.?

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