IMG unveils economic travel insurance product

International Medical Group, a global insurance benefits and assistance services company, has launched iTravelInsured Essential, an economic travel insurance product.

iTravelInsured Essential, which is IMG’s lowest-priced travel protection programme, allows travellers, such as US residents traveling within the US, to protect their prepaid, non-refundable trip costs.

The iTravelInsured Essential plan provides limited travel protection with coverage for trip cancellation and interruption, travel delay, and accidental death and dismemberment. The plan also includes access to IMG’s 24/7 emergency non-insurance travel assistance service.

Grant Hayes, IMG director of international sales, travel, said, “We are thrilled to introduce our new iTravelInsured Essential plan to travellers that have been long awaiting an economical travel insurance option in the market.

“Customers who purchase iTravelInsured Essential are able to attain essential coverage at a reasonable price and can still have the same Global Peace of Mind® that comes with the other travel and health safety solutions we offer.”

Earlier this month, whole-trip travel insurance startup Faye scored $8m in its seed round, which was led by Viola Ventures and F2 Venture Capital.

Faye claims to set a new standard in insurance, with its platform able to cover travelers’ trips, health, belongings, and even their pets. Its app has real-time alerts, provides 24/7 access to customer experience specialists, enables users to digitally file a claim and quickly pays approved claims through electronic transfers.

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