Aug 26, 2020

Allianz Customer Survey Finds Travel Advisor Clients Will Lead Cruise Recovery in 2021

 

RICHMOND, VA, August 26, 2020 —While the pandemic has people staying closer to home these days, the outlook for traveling abroad by cruise ship looks promising in 2021, according to recent findings* from travel insurance and assistance company** Allianz Partners. After analyzing more than 1,000 survey responses from customers who purchased its U.S. travel insurance products through travel advisors and other retail distribution partners, Allianz found that among retail customers who don’t plan to travel this year, many are planning to book international travel in 2021 and many of those international travelers will choose to cruise.

According to the Allianz data, 60% of its retail customers who say they won’t travel until 2021, plan to visit an international destination for their next trip—with 20% of those retail customers indicating that they will sail on a cruise ship.

Leading the survey respondents, 50% of Allianz retail customers indicated they will stay in a hotel or resort, while other retail customers revealed they will stay with friends and family (13%), followed by a rental house (8%), a personal vacation house (4%) and only 2% plan on spending their vacation in an RV, tent or cabin.

Allianz - cruise_survey_graph

Although ocean cruising is not resuming in the U.S. until at least November 2020, according to the Cruise Lines International Association, elsewhere in the world, large ships are already setting sail with limited capacity, social distancing and other stringent safety measures in place.

“Travel will continue to evolve in response to the unfolding of global events. Meanwhile, we are discovering that our customers are more open to taking trips to overseas destinations once again,” said Joe Mason, Chief Marketing Officer at Allianz Partners. “One area where we are expecting to see an increasing interest in the year ahead is in international cruise travel.”

As for insurance travel products, Allianz is currently offering several temporary accommodations, providing coverage for trip cancellations, trip interruptions, and emergency medical care for those who become ill with COVID-19 and has temporarily extended refunds of travel insurance premiums to customers whose travel suppliers have canceled their trips due to COVID-19.***

The travel insurance and assistance company is also allowing customers to use their policy within 770 days of the purchase date so that it can be used for a new or rescheduled trip. Note, customers who are moving their existing plan must change their plan coverage dates before traveling and prior to any loss for which they are seeking coverage. Furthermore, if the customer takes advantage of this option to insure a new or reschedule trip that was paid for with a travel supplier voucher, any amount paid by a travel supplier voucher would be considered part of that customer’s insured trip payments.

Allianz offers travel insurance through several major U.S. airlines, leading travel agents, online travel agencies, other travel suppliers, and directly to consumers. For more information, please visit http://www.allianztravelinsurance.com.

 

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*Methodology: This press release examines results from an Allianz Partners survey of a random sample of 1,072 customers who purchased a policy through a travel advisor or other retail distribution partner between 6/1/19-2/29/20, with travel ending before 3/1/20. The survey ran from 5/20/2020-6/25/2020, and asked several questions about when and how respondents will travel next. For consistency purposes, customers were provided with the following definition of travel: a trip to a destination that is more than 100 miles from your home and lasts for at least 2 nights. In addition, Allianz Travel analyzed the destinations selected during travel insurance quotes provided to its online customers during the second quarter of 2020.

About Allianz Partners

Allianz Partners (AGA Service Company) is a leading consumer specialty insurance and assistance company with operation centers in 35 countries. In the United States, the company offers Allianz Travel-branded travel protection plans and serves over 45 million customers annually. In addition to travel insurance, the company offers tuition insurance, event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. The company also serves as an outsource provider for in-bound call center services and claims administration for property and casualty insurers and credit card companies.

**Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan’s Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A‐" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance, TravelSmart, and AgentSmart are marks of AGA Service Company or its affiliates.  The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance. SmartBenefits proactive payments and “no receipts” payments available only on certain plans.  For plans that include proactive payments:  when you opt in and provide flight information, Allianz Global Assistance will monitor flights and send flight status and benefit alerts, including alerts about flight delays that qualify for automated travel delay payments.  Standard message/data rates apply to SMS alerts.  Automated claims and payment system availability is not guaranteed and is subject to our sole discretion.  All claims subject to policy terms, conditions, and exclusions.

***Restrictions apply.  These accommodations are strictly applicable to COVID-19 and are only available for customers whose plan includes the applicable benefit.  All other terms, conditions, and exclusions of the plan apply as normal.  Please note, the described accommodations are an explicit and limited expression of donative intent only, which is for only the limited purposes expressly specified at the link below and for no other further purpose, express or implied.  Further, it is expressly not a guarantee of coverage or admission of legal or equitable liability.  Nothing contained or described at the link below, nor any payment made pursuant to the position described at the link below, is or should be construed to be a waiver of any term, condition, or exclusion of any plan, or any applicable rights, remedies, or defenses under any plan or at law or equity.  We and our applicable underwriters and reinsurers reserve all rights, remedies, and defenses under the plan and under applicable law and at equity.  For complete details, please visit: https://www.allianztravelinsurance.com/coverage-alerts/2019-novel-coronavirus.htm.