Revealed – the true cost of holidays without insurance
November 14, 2018
Technology assists London calling time on opportunistic insurance fraud
November 28, 2018
With family and friends left counting the cost after another British citizen dies on holiday with no insurance, Insurtech specialist Aquarium Software says the emotional cost is the tip of the iceberg when it comes to uninsured accident, illness or events abroad.
Technology is one enabler assisting the industry in addressing under insurance, while at the same time warning people of the enormous financial risks they take by not having the necessary cover in place.
Jackie Lee and her husband had booked a late holiday and forgot to buy insurance, meaning that when she unexpectedly died just one day into their holiday, her family were left not just with the grief of losing a much loved wife and mother, but also the £10,000 cost of repatriation to the UK.
“Thankfully, a Facebook page was able to raise the large sum required to bring Jackie home to her family, but not everyone is so fortunate,” said Aquarium Director, Mark Colonnese.
“At best, you will be left with pocket busting medical bills and if the very worst happens, families may be left with the appalling distress of not being able to get a beloved relative home.
One in four Brits still travel abroad without insurance, however new apps are making it harder to forget the one thing that could prove more important than your passport,” added Mark.
Far too many who take a chance when travelling play roulette with their health, their savings and in the worst cases, their lives.
The latest travel insurance apps mean travellers can quickly and easily purchase cover from the palm of their hand. While not advisable, in extremis insurance can also be purchased while you are on holiday if you have forgotten to book it at home, and smartphones make this process easier than ever.
“Next generation travel apps can’t prevent tragedies but can support those left picking up the pieces of misfortune abroad,” added Mark.
“Geo location can recognise you are on holiday and suggest insurance proactively, to better protect those who may genuinely have forgotten insurance,” concluded Colonnese
