Key Considerations in Buying Group Travel Insurance
|What is the major goal for travel organizations around buying travel insurance?
Here’s our example:
Great Organization is running a program in which World Traveler is enrolled.
World Traveler may be a student doing academics for many months, or a volunteer devoting several weeks to helping out in the field, or a corporate employee making the most of a short trip… or many variations of these.
World Traveler is going overseas, but it could be to a country that is geographically and culturally very close to home, or possibly very remote.
Great Organzation might set up the travel arrangements, or World Traveler might do it.
World Traveler might be highly supervised by the organization while overseas, or maybe not.
Great Organzation might provide group travel insurance, or it might rely on World Traveler to get that on an individual basis.
There is endless variation around the risks of overseas travel for groups.
But here’s what we do know reliably happens:
When World Traveler runs into a medical or personal difficulty overseas, he will look to Great Organzation to help him. It does not matter whether he has signed a waiver or assumed responsibility for his own health care. Great Organization is the reason he is overseas, and they are the ones he knows there.
The way that Great Organzation responds to him will greatly shape World Traveler’s opinion of their organization. Of course these opinions are widely sought and shared these days.
Great Organization is going to have to rely fully on World Traveler’s travel insurance to address key aspects of the emergency; contacting assistance swiftly, arranging for a payment guarantee for medical care, getting medical updates, organizing a medical evacuation, bringing in family members for support, or permitting a return trip home if a full medevac isn’t warranted.
As the emergency unfolds, World Traveler is typically going to find it difficult to distinguish between the insurance company’s role and Great Organzation’s role in taking care of him.
If the experience is managed beautifully, he’ll regularly attribute that to the fine management of Great Organization. If it's a disaster, he'll equate that with his experience on their program.
This means that the way that travel insurance responds will have a big impact not only on World Traveler’s health and experience, but also on Great Organzation’s reputation.
This is why we think travel insurance plays an important role in good risk management.
Your travel insurance program should not only respond to traveler emergencies, it should also support your business operations and your reputation, help keep your costs low, and delight your customers.