A recent study by ICICI Lombard reveals a growing consciousness among Indian travelers about the importance of travel insurance, particularly among different family stages.
The findings of ICICI Lombard General Insurance in their recent consumer study on International Travel Behaviors of Indians found that 76% purchased travel insurance for their most recent trip and the intent to purchase the same for the next trip reached a whopping 92%. The findings further explain that a remarkable 73% of respondents demonstrated a high level of awareness regarding the importance of travel insurance, underscoring the growing consciousness of safeguarding travel experiences.
In addition to this, the study uncovered that awareness of travel insurance increases with the progress of the family stage, as married couples with kids emerged as the highest travel insurance purchasing class at 78%, followed by married couples with no kids (67%) and singles (66%).
Sheena Kapoor – Head of Marketing, Corporate Communications & CSR, ICICI Lombard commented on these findings, stating, “These statistics underline a growing consciousness among travelers to safeguard their travel experiences and protect themselves against unforeseen events. It is indeed encouraging to see that travel insurance is no longer an afterthought but a proactive choice for a majority of respondents. Additionally, the correlation between family stages and travel insurance awareness is a noteworthy discovery, demonstrating that individuals are increasingly recognizing the importance of securing their travel plans, particularly as they progress through various life stages. At ICICI Lombard, we are committed to providing comprehensive and tailored travel insurance solutions that cater to the diverse needs of our customers. We believe these findings will serve as valuable insights to help us further enhance our offerings and continue to be a trusted partner for travelers, ensuring peace of mind during their journeys.”