Allianz Global Assistance flips the script on annual travel protection with its new innovative, flexible and affordable Annual Medical Flex Plan
Cambridge ON, Feb. 20, 2024 – Allianz Global Assistance (Allianz), a leading Canadian travel insurance and assistance provider, recently launched its innovative Annual Medical Flex Plan, the first product of its kind that brings more flexibility, affordability and convenience to Canadian travellers.
The Annual Medical Flex Plan is designed to help insurance and financial advisors convert more of their travelling clients to annual travel insurance policyholders. The plan’s auto-renew option also makes it easy for advisors to sync a client’s Annual Medical Flex Plan with their yearly client check-ins or home and auto insurance renewals, providing 360 degrees of protection while driving compounding annual revenue for their business.
With the Annual Medical Flex Plan, clients only pay for the coverage they need, thanks to a unique, client-centric design that provides coverage for the total number of planned travel days outside of Canada within one year. Unlike traditional annual multi-trip plans, the Annual Medical Flex Plan does not impose a per-trip day limit, which gives travellers more flexibility - and convenience - by reducing the need for additional top-up coverage on individual trips.
“Allianz is thrilled to unveil the Annual Medical Flex Plan, which redefines annual travel protection by giving more flexible, affordable coverage that caters to the dynamic needs of today’s travellers,” said Dan Keon, Allianz’s VP of Marketing & Insights. “Advisors play a central role when clients are making important insurance and financial decisions. This product is currently available exclusively to our valued broker channel, including financial advisors, where clients can work with their trusted advisor to purchase a policy that aligns with their unique travel plans and provides reliable coverage all year long.”
As part of the product’s development, Allianz conducted the ‘U.S. Travel Study’ through Ipsos to better understand Canadians’ current travel habits. The study confirmed that, of those Canadians who typically travel abroad for leisure purposes, 48 per cent are taking two or more trips within a one-year period. This reaffirms the need for accessible coverage that protects travellers across multiple trips. Allianz also engaged behavioural economics experts in the design of the product and sales flow to gain insights into clients’ decision-making process when considering travel insurance.
“Annual travel insurance is the perfect complement to a broker’s home and auto insurance offerings,” notes Keon. “To optimize this opportunity, our AdvisorMax sales flow has been enhanced to help our partners seamlessly quote and offer the Annual Medical Flex Plan in every client interaction. With a client-focused design and simple auto-renewing feature, the Annual Medical Flex Plan is perfectly positioned to not only help advisors offer the right protection to their clients, but to become a major, compounding revenue stream for their business.”
Annual Medical Flex Plan highlights:
- $10 million emergency medical coverage
- 24/7 emergency care and assistance
- Choice of 10 flexible annual travel day options
- Hassle-free renewals
- Travel solo or with family
- Kids travel free with individually rated adults
- Simple medical screening for those over the age of 65
- Easy claims filing process
For more information about Allianz’s Annual Medical Flex Plan and offering travel insurance to your clients, contact Allianz.
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*The U.S. Travel Survey was conducted online by Ipsos in June 2023, among a sample of n = 2,000 Canadian adults. The results are considered accurate to within +/- 2.5 percentage points, 19 times out of 20.