CEGA, a Charles Taylor company, and AXA are driving innovation in the travel insurance sector with the Travel Health Calculator.
In October 2019, the Travel Health Calculator was launched by travel insurer AXA. Enabled by technology developed by claims and medical assistance providers CEGA, a Charles Taylor company, the online tool offers a unique solution to travel insurance uncertainty. In short, it helps to empower people with pre-existing medical conditions to find the right travel insurance at a suitable price.
Background: addressing a market need
It was important to address the need for travel insurance transparency for individuals with pre-existing medical conditions.
To put this into context, the Financial Conduct Authority (FCA) estimates that there are up to 14.1 million consumers with a pre-existing medical condition (PEMC), who are looking to purchase travel insurance each year. The FCA recently launched a consultation on proposals designed to help consumers with PEMCs have better access to travel insurance products. In addition, recent industry revelations1 show that three fifths of consumers believe that the responsibility lies with insurers to make sure customers purchase the right level of cover.
The Travel Health Calculator now provides simple and easy-to-access medical assessments. A traveller with one or more pre-existing medical conditions can use the tool to enter details of these online. They will then receive immediate digital feedback, with travel insurance tips that take these conditions into account; covering everything from single trip vs annual policies, to the importance of checking with their GP that they have declared all that they should. They will also receive a list of brokers and insurers who specialise in providing travel insurance cover that meets their specific medical needs – or, if these needs are less complex, they may be directed to price comparison sites.
To assess the level of risk related to each user’s medical history, the Travel Health Calculator is supported by CEGA’s specialist automated medical screening solution, Antidote. This provides medical ‘thresholds’ for over 3,000 conditions; from asthma and high blood pressure, to diabetes and heart problems.
Benefits offered by the tool extend beyond increasing consumer choice and reducing the risk of medical and other emergency costs abroad. They also include access to general guidelines about buying travel insurance; not least the importance of checking that a policy includes travel disruption cover and of updating ongoing cover in line with any health changes.
Nel Mooy, Travel Director, AXA Insurance, says of the Travel Health Calculator, "As insurers, we want to help customers understand their cover options regardless of their previous or existing medical conditions. While in some scenarios, certain channels such as specialist brokers or underwriters may be more appropriate than others, our aim is to empower travellers so they can find cover that is right for them. Many people see health as a barrier to finding insurance, but our new tool can help make things that much clearer.”
Angela Smith, Head of Propositions at CEGA, says, “We’re thrilled that AXA are leading the way in the implementation of this innovative new tool. As always, we’re committed to providing end-to-end solutions that support insurers and their customers alike and look forward to continuing to play a pivotal role in the insurance sector’s innovation agenda.”
See the Travel Health Calculator in action here: https://www.axa.co.uk/travel-insurance/travel-health-calculator/
1 Figures obtained from research commissioned by AXA of 2000 UK adults. The research was carried out by OnePoll in July 2019.
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