You are here
Insurance 

The market of the “snowbirds” changes, notice the travel insurers

by

Justine Montminy

12 October, 2018 07:00

Photo : Freepik

The season travelers, wintering, called snowbirds, approach. Each year, those travelers who leave the country for a long period of time represent an interesting market for insurers travel. The market has however evolved in recent years.

The Conference Board of Canada defines a snowbird as a canadian traveller 55 years of age and over who leaves the country for 31 nights or more. These travellers begin to shop their insurance at a younger age, have noticed the stakeholders surveyed by the Journal of insurance.

At Allianz Global Assistance, you received requests as of July, says its business development manager, Melanie Lessard. This category of passenger has also experienced a significant increase in recent years.

“According to the latest figures from the Conference Board of Canada, between 2000 and 2016, the number of snowbirds, has experienced a growth of 298 %,” said Ms. Lessard. These travellers are no longer satisfied to go only in Florida, as was the case previously, but are more and more activities and do not hesitate to leave the continent.

The age of these travelers made it so that their coverage can be quite a bit more complex, according to the CEO of TuGo, Patrick Robinson. “They leave the country for a long period of time. In addition, travellers 60 years of age and more often have to provide more details about their medical condition and their history. Fill in medical questionnaires is very important. Brokers need to prepare for the season of the snowbirds by knowing the individual needs of their clients. “

The snowbirds are also increasingly aware of the importance of being insured. Insurers link this phenomenon to the greater media coverage that does not hesitate to put forward the costs of medical often humongous that are paid for by the travellers who had no insurance.

“Estimates shared in the industry indicate that 86.5% of snowbirds are insured. It is certain that we would like to see this figure reach 100 %. We are still satisfied with this rate. These travelers often choose to pay more for insurance in order to be covered to the maximum. They will look for the best coverage for their personal situation “, note Mélanie Lessard.

Related posts

Leave a Comment