Fill cover gaps

The Challenge

Educate your customers

Travel Insurance benefits are complex and customers don’t read PDS’s – they often buy travel insurance despite having it available in their credit card, or blindly trust the cover without understanding limitations

The Solution

Scan & Protect - Travel

Virgil assesses the card benefit based on planned travel and tailor recommendations including:

Confirm activation criteria

Highlight cover GAP’s
Such as pre-existing medical or specific activities

Recommend travel insurance
  • - GAP cover to top up existing credit card travel insurance
  • - Tailored cover to substitute credit card cover criteria not met

Travel Insurance per year

Travel Insurance

$91 billion in Premium

5.250m policies - 86% leisure

9.84 million trips

9 in 10 Aussies travel insured

$282 Average premium

Frequency of travel 53.30%
Penetration 85.20%
Policies with special cover 25.50%, pre-existing ~ 7%

Full Cover

6 million# outbound travellers without Credit Card insurance

$550 million available market

Gap Cover

4 million# outbound travellers with credit card insurance

$150 million in Gap Premium

# Source Finaccord 2016, 2020
# Survey of Australians’ Travel Insurance Behaviour -2017 – Quantum

Educate, Assess & Activate

Add protection, Store & Service

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