Temporary insurance platform Cuvva has released a flexible, single trip travel insurance service for its mobile app.
The company recently commissioned a survey of 2,000 consumers based in the UK aged between 18 and 34, to better understand Gen Z and millennials views on travel insurance. Results showed only 18 per cent of respondents always read their travel insurance policy.
Further to this, only 14 per cent of participants stated they fully understood all of the wording in their travel insurance policy document.
When asked what would encourage them to buy travel insurance, cheaper policies, clearer document wording and cover descriptions, and quicker processes, were listed.
Cuvva new travel policy offers consumers protection for medical emergencies, travel disruption, and event cancellation. Medical cover can be up to ?5m for injuries and up to ?250 for dental emergencies.
More than 150 common sports and activities can be covered, and protection can be extended to multiple countries.
Cuvva founder Freddy Macnamara said, “Selling a product to a customer who doesnt fully understand what they are purchasing is completely counter-intuitive. Insurers make travel insurance unnecessarily complicated, which deters consumers, especially Gen Z and Millennials.
?This results in so many unprotected holidaymakers travelling abroad. Insurance fit for the 21st century is insurance that is simple to understand and simple to purchase.
?Cuvva is thrilled to be expanding its offering with the launch of travel insurance. Were modernising insurance by building flexible products that can be bought in a few minutes on mobile and that are solving actual customers needs.p>
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