AIG Travel charts new study course on solution innovation | 07/25/17

HOUSTON, July 25, 2017 /PRNewswire/ — AIG Travel is pioneering a new strategy to solution enhancement that will permit vacation agents and other distribution associates the flexibility to give truly personalized vacation insurance policy offers.

AIG (PRNewsFoto/AIG Travel)

AIG Travel has moved further than the traditional “a single-dimensions-suits-all” solution strategy to give associates the skill to ask for offers from an array of individual personal solution parts. “We have an understanding of that customers want a far more personalized vacation practical experience, which is why we have worked tirelessly to get to this level wherever we will be able to give agents far more selections to supply a far better-specific spectrum of products and solutions – and ultimately a far better practical experience for tourists,” reported Jeff Rutledge, CEO, AIG Travel.

This strategy, whereby various positive aspects, this kind of as journey cancelation or protection evacuation, will be out there on an personal foundation (which includes the numerous possible variables of coverage and limitations), gives agents with an array of parts to use to ask for offers to answer to unique customer need and demographics, as a substitute of the former “handful” of offers strategy. It opens the door for progressive solution enhancement and expands the menu of positive aspects out there to consumers, bringing an unprecedented degree of flexibility and skill to tailor segmented insurance policy designs for every single agency’s one of a kind customer profile.

The new products and solutions, filed by AIG Travel affiliate Countrywide Union Fireplace Insurance policies Organization of Pittsburgh, Pa. (“AIG”), have been permitted in 31 states. “We are thrilled that, in numerous states, we can now give this new universe of selections along with our current Travel Guard® insurance policies – Silver, Gold and Platinum – which will keep on being out there to prospects who like that strategy,” Rutledge reported. “With this kind of a broad selection of solution possibilities, our market associates can even now ask for as numerous or as couple products and solutions to give, based mostly on every single agency’s personal customer foundation. We hope that the amount of states wherever this strategy is out there will extend as we continue on to go after solution filings.” 

Along with this new offer-making paradigm, AIG is also innovating on the personal advantage degree with slicing-edge, specific selections. Some of the new positive aspects, out there in numerous states, involve:

  • Title YOUR Relatives: Present-day insurance policies define who constitutes a loved ones member whose demise or illness may well bring about coverage for a journey cancelation. Less than this new policy, the traveler has the possibility to title whichever people they pick out to involve in this group.  
  • New journey cancellation positive aspects:
    • Because of to inadequate/excessive water concentrations: For individuals tourists interested in river or ocean cruises, this new solution can supply far more robust coverage by reimbursing journey expenditures for a flood or drought that has an effect on the area wherever the insured was supposed to go on a cruise.
    • Because of to a marriage ceremony being canceled: This new solution can go over the insured visitor if a journey is canceled due to possibly the bride or the groom calling-off their marriage ceremony.  
  • Journey curtailment due to the mechanical breakdown of an owned or rented motor vehicle: If the traveler’s motor vehicle breaks down, they can be lined for the expenditures of the decline of their family vacation time even though the motor vehicle is being repaired or changed.
  • Journey inconvenience coverage: This class involves a range of new positive aspects, which are activated in a wholly different manner than AIG’s other vacation insurance policy choices. If ordered, this coverage gives a fastened advantage total payable upon the stated inconvenient occasion transpiring (as opposed to being minimal to an expenditure reimbursement). Preliminary examples in this class involve payments for: shut or shut down topic parks or other sights cruise/flight diversions hotel infestations beach closures and runway delays.  

AIG has also carried out intensive work to extend coverage positive aspects for the adhering to products and solutions:

  • Pet named perils: Expanded selections for canine and cat proprietors, giving coverage if the insured’s pet is injured even though traveling and requirements to be taken to a veterinarian. It can also supply a advantage if the pet dies just after the insurance policy is ordered, but prior to the journey is taken. 
  • Stability evacuation coverage: Less than this coverage, the traveler can be transported out of unsafe/unstable scenarios (this kind of as political unrest or a purely natural catastrophe) and the expense can be lined up to a specified advantage degree.

For far more facts on this new strategy or the new coverages, agents are inspired to get hold of their AIG Travel gross sales agent. With the suite of coverages growing, far more and far more facts will be updated by using AIG Travel’s ezTIPS™ reserving software package, permitting for automated providing capacity.

About AIG Travel and Travel Guard
AIG Travel, Inc., a member of American Worldwide Group, Inc., is a worldwide chief in vacation insurance policy and world guidance. Travel Guard® is the marketing and advertising title for its portfolio of vacation insurance policy answers and vacation-related providers, which includes healthcare and protection providers, marketed to both equally leisure and business enterprise tourists all-around the world. Solutions are furnished through a network of wholly owned services facilities situated in Asia, Europe and the Americas. For additional facts, you should visit our sites at www.aig.com/vacation and www.travelguard.com.   

About AIG
American Worldwide Group, Inc. (AIG) is a primary world insurance policy group. Established in 1919, today AIG member corporations supply a broad selection of property casualty insurance policy, lifetime insurance policy, retirement products and solutions, and other economic providers to prospects in far more than 80 nations and jurisdictions. These diverse choices involve products and solutions and providers that support companies and people shield their belongings, regulate risks and supply for retirement protection. AIG’s main companies involve Business Insurance policies and Customer Insurance policies, as nicely as Other Functions. Business Insurance policies contains two modules – Legal responsibility and Economical Traces, and Home and Particular Challenges. Customer Insurance policies contains 4 modules – Specific Retirement, Group Retirement, Lifestyle Insurance policies and Own Insurance policies. AIG common stock is stated on the New York Inventory Exchange and the Tokyo Inventory Exchange.

Further facts about AIG can be discovered at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/corporation/aig. These references with additional facts about AIG have been furnished as a convenience, and the facts contained on this kind of sites is not included by reference into this press release.

AIG is the marketing and advertising title for the worldwide property-casualty, lifetime and retirement, and standard insurance policy functions of American Worldwide Group, Inc. For additional facts, you should visit our web-site at www.aig.com. All products and solutions and providers are composed or furnished by subsidiaries or affiliate marketers of American Worldwide Group, Inc. Merchandise or providers may well not be out there in all nations, and coverage is subject to actual policy language. Non-insurance policy products and solutions and providers may well be furnished by independent third events. Specified property-casualty coverages may well be furnished by a surplus traces insurance company. Surplus traces insurers do not generally participate in condition warranty funds, and insureds are hence not guarded by this kind of funds.

Get in touch with:

Rhonda Sloan

AIG Travel

713.284.8232

course=”prnews_a” rel=”nofollow”>Rhonda.Sloan@aig.com

 

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Resource AIG Travel

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