Travel Insurance Product Differentiation ITIC UK 2024

Experts discussed the current market stagnation in terms of travel insurance product development and emphasized the need for policy updates.

Here is a concise summary of the discussion on travel insurance product differentiation at the ITIC UK 2024 conference:

Head of Travel Insurance at Taurus Insurance Services

  • Mark Allsopp, Head of Travel Insurance at Taurus Insurance Services, highlighted the evolution of product differentiation over the past decade. He emphasized the importance of evaluating criteria such as:
  • Allsopp pointed out that little has changed in the last 10 years, with continued reliance on price comparison for differentiation. Current cover focuses on the perils being covered rather than what customers would like to be covered.
  • The three main types of travel insurance policies in the UK are:

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