HONG KONG, 24 November 2021: Klook travel and leisure booking platform is partnering with ZA Tech Global Limited to provide travel-related insurance to consumers worldwide.
The joint venture agreement will ensure consumers will have seamless access to travel-related insurance policies at competitive prices.
Insurers will be able to partner with Klook to feature their insurance products on one of the world’s leading travel and leisure platforms.
According to the agreement, Klook works with insurers to design products that address the pain points of consumers while kickstarting travel-related insurance products on its platform by the end of this year, with a focus on the Asia Pacific region.
The rollout by year-end will first feature AXA and Chubb as the first two insurers.
ZA Tech will empower Klook’s platform by exporting its proprietary solution – Fusion, to create a seamless digital experience for travellers and support partners.
“The pandemic has changed the way we travel, with customers demanding increased assurance when they travel once cross-border travel resumes,” said Klook VP corporate development CS Soong.
“We are excited about this milestone partnership with ZA Tech, as this is the first time any travel player will be rolling out a full suite of travel-related insurance on a multi-market level. With this, we can further simplify customers’ travel journey, enabling them to discover, book and purchase all they need during their travels from travel-related insurance to experiences.”
The ongoing Covid-19 pandemic is expected to boost demand for travel insurance once travel restarts. The global market for travel insurance was estimated to be USD21.5 billion in 2020 and is now projected to reach USD33.7 billion by 20271.
