SILICON VALLEY TRAVEL INSURANCE COMPANY REPORTS 172 PERCENT INCREASE IN INDIAN CUSTOMERS SEARCHING FOR US-BASED TRAVEL INSURANCE
Santa Clara, Calif. –
(July 16, 2019) Indians are travelling abroad in record numbers – over 1.4
million Indians travelled from India to the United States in 2018, up over 7
percent from 2017 [Source: US Travel.org]. Silicon Valley-based travel
insurance company, VisitorsCoverage, reported a 172 percent increase in Indians
searching for and comparing travel insurance policies on their site from Q1
2018 to Q1 2019. These comparison shoppers overwhelmingly purchased short-term
visitors insurance, while also purchasing long-term visa, student, visiting
parents insurance and immigrant travel medical insurance. India is
VisitorsCoverage’s largest global market – half of these searches were
generated by returning customers.
“Visitors to the US are
realizing the cost savings, coverage advantages and convenience of purchasing
US-based travel insurance,” says Rajeev Shrivastava, CEO and founder of
VisitorsCoverage, an insurtech company that provides online comparisons of
hundreds of travel insurance policies.
There is a growing trend
of non-US travellers purchasing US-based travel insurance of plans with low or
zero co-pays or deductibles, more policy choices and ease of filing medical
treatment claims and claims for lost luggage, flight delays and other travel
mishaps.
“Not only do more US-based
providers recognize and accept US-based insurance,” Shrivastava continues, “but
non-US policies are generally reimbursement-based, travellers with India-based
insurance may be required to pay out-of-pocket medical costs at the time of
treatment. Filing a claim for reimbursement in India following the return home
could be complicated, frustrating and lengthy as a result of different time
zones and countries.”
The United States does not
provide universal medical coverage. Unprepared travellers who do not purchase
travel medical insurance and become ill, sustain serious injury or a
catastrophic medical incident in the US risk incurring financial liability that
can easily run over 6.9 million INR, as the US also has one of the most expensive
healthcare systems in the world. Should a traveller require medical air
transport back to India costs could easily double or triple for medical
repatriation.
VisitorsCoverage partners
with top-rated travel insurance administrators and underwriters, giving peace
of mind to unlucky travellers who actually have to file a claim for medical
treatment or loss. Many of their policies offer coverage beyond medical and
trip insurance including insurance for visiting parents and relatives and
border entry denial.
About
VisitorsCoverage Inc.:
Silicon Valley-based
VisitorsCoverage Inc. is an insurtech company operating in the travel insurance
space and has helped millions of travelers acquire suitable travel insurance
online by providing an insurance experience that is fast, affordable and
hassle-free. For more information please visit www.visitorscoverage.com.
Media
Contact:
Kimberly Hathaway, Spritz
San Francisco
+1 415-994-1097
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