Treppy and travel insurance

How to Increase Revenue with Travel Insurance Sales

When pursuing insurance sales as a licensed agent or travel retailer, there are a variety of insurance policies and plan types for many different verticals, including automotive, life, health, and more. However, a commonly overlooked insurance sector that is currently booming and has the potential to increase your revenue is travel insurance.
Woman sitting outside of an office building smiling and looking away from her laptop.

There are a multitude of reasons why an insurance career can prove to be a fruitful one, especially as an  insurance broker, agent, or retailer. Travel insurance is quickly becoming one of the most popular insurance careers considering the high demand for this type of insurance and the ever growing travel industry.

The insurance industry employs more than 2.8 million people and according to the Insurance Information Institute, “employment of insurance brokers and sales agents is expected to grow 9% by the year 2024.” Other predictions are saying that it could go even higher due to expanding travel mandates and requirements.

Most Popular Insurance Types for Sellers

Life, Auto, and Health insurance are among the more recognizable policies and they are usually purchased through employee benefit plans or personal plans with an agent directly. 

Many of these plans could be considered a one-and-done plan that once purchased, unless there are life changes involving birth, death, marital status, or new job or car, there would be no need to revise them. They automatically renew and people are good to go. 

Other types of insurance, such as travel medical insurance or trip insurance, are more fluid and could provide opportunities for you to not only help your current clients, but spark sales from new businesses or individuals.

Why You Should Sell Travel Insurance

Becoming a travel insurance agent can offer you a secure industry vertical – people are always traveling, and the travel industry is on the rise. Travel insurance can range from trip protection to emergency medical coverage, and above all, gives travelers peace of mind regardless if their plan is utilized, often leading to repeat business.

Globally, air traffic has reached about 70% of pre-pandemic levels, even with staffing and operational shortages and constraints, and closed borders in some destinations. Even so, traveling was chaotic in 2022. Rental car shortages, over bookings of airlines, lost and even discarded luggage, and let’s not even start with all the delays. People were stranded at airports for days and many celebrated the holidays by returning home instead of visiting family and friends.

Will travel in 2024 be as overwhelming? Hopefully not. However, trends are pointing to more people traveling than before due to being cooped up for so long and itching to get out and get going! And people don’t want to experience a loss of time, money and fun ever again. They are looking for ways to protect their travel plans. A small investment in travel protection to receive benefits in the event of the unexpected is often perceived as valuable for most travelers.

Plus, a travel insurance policy is typically only purchased for the length of one trip, making repeat business highly likely. If the customer has a great experience during their first travel insurance purchase, they may purchase from you again for their next planned trip.

What Does Travel Insurance Cover?

Travel insurance is a safeguard in the event of the unexpected. Depending upon the insurance policy purchased, coverage will vary. Travel medical insurance is often focused on offering coverage for unforeseen illnesses or injuries that occur during travel. Trip insurance can cover nonrefundable travel expenses for unexpected events such as canceled flights, flight delays, lost luggage, and more.

Is Travel Insurance Mandatory?

While auto, health, and home insurance is typically mandatory due to state, federal, and banking regulations, travel insurance is optional in most cases. There may be a few instances in which a foreign country requires incoming travelers to obtain a travel insurance plan. Where it isn’t mandatory, most countries still list travel insurance as highly recommended to obtain before a person’s trip. It is recommended for good reason – especially in the event of a medical emergency abroad, travel medical insurance can be a lifesaver for those faced with high medical bills in a foreign country.

How to Sell Travel Insurance

Selling travel insurance online is simple with Treppy™. Adding Treppy™ is as easy as embedding a simple, customizable code to your website. Add your colors, logo, and style to the widget to include your branding so customers can immediately click and start comparison shopping for policies, quotes, and plan information for travel medical and trip insurance.

Since they can purchase online from anywhere in the world, you don’t have to be waiting for a phone call. Should the customer need to contact someone for more information or to file a claim, they are sent directly to the policy provider who handles all of the paperwork.

A simple set up with Treppy™ can have you on your way to selling travel insurance and potentially increasing your revenue in no time.

Learn More About Treppy™

Getting started is quick and easy. We are here to help you get set up and on your way. If you have any questions or concerns, you can reach out to one of our team members and we’ll get back to you as soon as possible.


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