Three Demands from Today’s Traveler

Travel is the most eagerly anticipated thing to do in 2022. After nearly two years of lockdowns and travel bans, borders are open, bags are packed, and people are ready and ready to go. 

The challenge for a modern travel company is attracting, converting, and then retaining loyalty, referrals and repeat business. After Covid, there is much to do to restore clarity, confidence and convenience in the buying process. Especially when recent research revealed that 43% of US travelers do not enjoy booking travel. 

The travel industry has a unique opportunity to sell dream products. Consumers are desperate to travel and their demands are high. Travel businesses can take inspiration from online fashion, food and other e-tailers who have revolutionized the customer experience to transform their experience.

Flexibility and Reassurance

50% of travellers have changed their plans in the last 12 months. Refund policies are now getting more priority from the consumer. Consumers  want refunds within a WEEK. When things go wrong with a reservation, the consumer blames the brand for the poor administration. 

Breadth of Choice

Today’s travelers want options, and they are looking for reassurance that they can trust the travel retailer. This is where embedded insurance plays a big part. It is not just the cheapest option, it’s the most suitable, convenient and offered at the right time. Relevant, embedded insurance products bring that reassurance to the consumer. 

Seamless Transparent Experience

The most successful travel services take care of the whole journey; the forms are straightforward, the process logical, and insurance options are comprehensive without being overwhelming. Travelers want personalized offers in realtime that are relevant to their booking. Systems and processes must obsess over convenience for the traveler. Every step must be simple, and forms and confirmations must be easily saved and emailed directly to them. When embedded insurance is done well, it uses the entered information to suggest personalized, relevant covers, achieving the straightforward, seamless process customers expect. 

Summary

In conclusion the whole industry is talking about customer-centricity,  the need to be relevant,  broaden choice. and flexible.   Technology enables fast  improvement in customer engagement, pre-trip, in-trip and post-trip . Optimizing and embedding insurance is a huge part of creating reassurance. Embedded correctly it can increase cart conversions and have a positive impact on the overall customer experience.

Over 45% of travelers prefer to shop and book everything in one place, and 50% of Gen Z travelers choose to book their entire trip through one website. Partnerships and modular technology are key for businesses to build out customer offerings that put the customer first. Business champions will need to challenge legacy and monolithic approaches to succeed. 

Customers enjoy the convenience of protecting their journey in realtime with an offering uniquely personalized to them. By embedding insurance, customers will stay on-site to buy protection, keeping them close for further purchase opportunities. 

References: Travelport: Toluna Corporate Insights. (2000 global travelers) Insight Avenue Research 2022.