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Friday, 29 November, 2013, 11 : 30 AM [IST]

TrawellTag partners with Australia’s Cover-More; rebranded as 'TrawellTag Cover-More'

To conduct training programme for travel agents in 15 Indian cities
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TrawellTag, one of the leading providers of global assistance and travel insurance in India, has partnered with Australian travel insurance and medical assistance company, Cover-More to offer a combination of local expertise and worldwide experience, creating compelling global assistance and travel insurance. The rebranded entity, ‘TrawellTag Cover-More’ will combine TrawellTag’s local knowledge and established distribution with Cover-More’s global experience and proven track record in customer service and customer-focused innovation. An official announcement in this regard will be made at the upcoming TAAI Convention.

Elaborating on the partnership, Dev Karvat, Managing Director, TrawellTag, said, “TrawellTag Cover-More represents an amalgamation of two expert, energetic and expanding companies. We are looking to create a new customer benchmark in travel insurance and assistance, both online and offline. TrawellTag Cover-More will offer global assistance including services like online tracking of lost luggage, medical and travel insurance, family protection, concierge assistance and ancillary products such as global SIM cards. We will add new products and service dimensions, including e-commerce and m-commerce platforms. In addition, we will have greater focus on claims handling efficiencies and customer claims experience.”

Peter Edwards, Group CEO, Cover-More Group, said, “We aim to deliver compelling customer value in all the markets in which we operate. Through our partnership with TrawellTag, we aim to be the travel insurance and assistance provider that more Indian travellers travel with, more often—the one that they recommend to their families and friends.”

Talking about the nature of partnership, Karvat said, “Cover-More has significant minority stake in TrawellTag. We see this partnership as rewarding for our distribution partners, travel agents and travellers in India. Cover-More has over 60 travel products for different segment and we will gradually implement these services in the Indian market.” Luggage tracking system by Trawelltag will be implemented by Cover-More in their respect markets. Hence both the companies will be mutually benefited by each other's product line, he added.

Speaking on the challenges in the travel and tourism industry in India in terms of travel insurance, Karvat said, “India is highly under penetrated market with less than 20 per cent outbound travellers buying travel insurance compared to Australia which has over 60 per cent travellers availing it. After this partnership we expect the conversion rate to reach 60-80 per cent in three-four years. There is lack of innovative products and those in the market are not designed to the traveller’s needs. Travel insurance is viewed merely as a document supporting visa requirements. There is also lack of professional training and knowledge on the part of sellers. Through this partnership we aim to transform travel insurance in India from an under-valued proposition to a ‘must-have’."

As there is little awareness about the travel insurance on the part of Indian travel agents, Karvat said, “We will conduct 'Travel Agents Engagement Programme' across key travel markets to build skills, improve quality and educate the travel agents on travel ancillary services. Also, we will conduct interactive sessions with ace trainers from the industry. Recently, we conducted training programme for around 50 travel agents in Ahmedabad and will look at conducting such sessions in 15 other cities including Kochi, Chennai, Pune, Delhi, Mumbai.”

Cover-More operates in Australia, New Zealand, the United Kingdom, India, Malaysia and China and will enter Singapore shortly. Cover-More has sold USD 400 million of travel insurance throughout Asia and Australia.
 
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