How Travel Insurance is Different from Other Types of Insurance

February 13, 2020

Most mainstream insurances, such as auto, life and home insurance, require a lot of time, paperwork and frustration to complete just one plan. With travel insurance, many of the common problems can be avoided. Selling travel insurance can be quick and easy with low effort and high reward. 

Travel Insurance is a specialty insurance, meaning that it provides coverage for a specific circumstance, in this case, traveling. This designation, however, results in positive impacts on the buying process for sellers and consumers. 

  • Less Information Required: Travel insurance does not require as much information on the policyholder as many other types of insurance. This means that applications can be completed more quickly and can be filled out entirely by the buyer. As a result, the time it takes to sell a travel insurance policy is less than the time it would take to sell a more traditional policy.
  • Fast: In part due to the smaller amount of information required, travel insurance applications can be completed by agents or buyers in ten minutes or less. 
  • Little to No Follow up: Application processes are fast and easy and all claims are filed directly with the insurance providers, so often no follow up communication is needed between insurance brokers and buyers.
  • Higher Commissions: Because of its specialized nature, travel insurance can earn insurance agents up to ten times more per policy sold than traditional insurance policies and take less effort overall. 

For the most part, insurance agents and brokers do not need specialized licenses to sell travel insurance, even if their clients are beyond state and country borders. As a result, selling travel insurance is a way to tap into a much larger market of customers, from one state over to the other side of the world. 

Would you like to know more about selling travel insurance or TMQuotes? Email us at info@tmquotes.com to learn more.

Login

Forgot Password