Tune Protect and bolttech team up to unveil new coverage for Hong Kong travellers

Tune Protect and bolttech team up to unveil new coverage for Hong Kong travellers | Insurance Business Asia

Travel

Tune Protect and bolttech team up to unveil new coverage for Hong Kong travellers

Offerings unveiled amid major insurance gaps for Asia’s young adventurers

Travel

By
Roxanne Libatique

Tune Protect Re Limited has partnered with bolttech Insurance to introduce AirAsia Travel Insurance for travellers departing from Hong Kong.

Available through AirAsia’s website, the AirAsia Move mobile app, and Tune Protect’s AirAsia portal, the insurance offers two plans: the Lite Comprehensive Plan and the Plus Comprehensive Plan.

These options provide coverage for personal accidents, trip cancellations, flight delays, baggage loss, and 24-hour worldwide travel assistance.

Partnership between Tune Protect and bolttech

This collaboration is made possible through AirAsia Berhad’s role as a licensed corporate agent of bolttech, with Tune Protect serving as the insurance program manager for AirAsia.

“We’re thrilled to provide Hong Kong travellers with convenient protection and peace of mind through AirAsia Travel Insurance,” he said.

He noted that the joint effort reflects bolttech’s commitment to enhancing customer experience by giving travellers more protection options.

Janet Chin, CEO of Tune Protect Re, said that this initiative aligns with Tune Protect’s regional expansion strategy, helping to grow its presence in markets like Hong Kong.

“This initiative enhances our service offering for Hong Kong travellers and aligns with our strategic vision for regional expansion, establishing ourselves as a leader in the travel insurance industry,” she said.

She added that the new travel insurance product improves AirAsia’s service offerings, ensuring travellers have comprehensive coverage and peace of mind.

One notable feature of the insurance is the On-Time Guarantee, which compensates customers for flight delays of two or more hours.

The launch comes amid findings from a recent Klook Protect survey that revealed travel insurance coverage gaps among younger travellers across Asia.

Shortfalls in travel insurance for Asia’s younger travellers

The study found that Millennials and Gen Z travellers, many of whom engage in high-risk or adventure-based activities, often lack adequate insurance protection.

CS Soong, CEO of Klook Protect, pointed out that these younger travellers are seeking insurance products that better reflect their adventurous travel habits.

He noted that traditional travel insurance often fails to meet these expectations, with 21% of survey respondents expressing interest in alternative insurance options, and over 34% wanting a simpler, more streamlined purchasing experience.

The study also highlighted increased risks for 2024 travel, including those related to climate change, economic volatility, and health concerns. Such risks have contributed to more frequent disruptions in travel plans, with activities like extreme sports and solo travel posing additional challenges.

Nearly 48% of travellers under the age of 35 are involved in high-risk travel, and many opt for budget accommodations or transportation, which may not meet high safety standards.