Bangalore, Apr.3 : Deccan, India's most preferred low cost carrier and ICICI Lombard General Insurance have joined forces to launch a unique flight and domestic travel insurance which offers security against possible vacation or travel loss.
The domestic travel insurance, covering accidental medical expense, possible loss from ticket cancellation and lost and delayed baggage, costs Rs 99/- per person. The insurance policy available from April 1, 2008 and can be purchased on the Deccan website (www.airdeccan.net) simultaneously while booking flight tickets.
Ramki Sundaram officiating CEO Deccan said "This is an exciting initiative for Deccan which streamlines and simplifies the process of domestic travel insurance for our guests. Today the Indian traveler is increasingly looking at options to safeguard her investments before setting off for a vacation or even a short trip. We believe our joint offering with ICICI Lombard will help travelers evaluate their need for travel cover and avail a comprehensive and beneficial insurance package."
Vishakha Mulye, Executive Director, ICICI Lombard said, "ICICI Lombard is committed to delivering unique and convenient risk management solutions to our customers. Our tie up with Deccan brings together a comprehensive travel insurance cover at the time of ticket purchase along with the ease of instant online policy issuance. The product coverage has been carefully designed to meet the needs of Deccan's guests and has a convenient claims settlement process."
Both Deccan and ICICI Lombard will focus on providing Deccan travelers with personalized response and service. The insurance policy will, subject to terms and conditions, cover a range of emergency medical expenses, loss arising from trip cancellation or interruption and delay and loss of baggage. ICICI Lombard will provide protection and benefits, including:
Refund of medical expenses up to Rs 75,00o/- incurred within 24 hours of any physical injury
Refund of non refundable cost of Deccan tickets up to Rs 10,000 if a medical emergency or natural calamity interrupts the trip
Compensation for loss of an entire piece of check in baggage for a maximum of two baggage at Rs 5,000 per bag and
Refund of Rs 3,000 per bag if check in baggage is delayed beyond 6 hours at destination.
Deccan has placed great emphasis on partnering closely with ICICI Lombard to create a travel insurance cover which straddles benefits and flexibility. Together the Deccan-ICICI Lombard network offers travelers peace of mind and constant service support during their travel.
Insurance coverage for hospitalization caused by an accident is available if the insurance holder is traveling by another airline however other coverage such as trip cancellation and interruption, baggage loss and delay are limited only to Deccan flights.
The travel insurance can be cancelled following cancellation of the Deccan flight ticket and in case of a rescheduled ticket the insurance will be active from the new date of travel.
All insurance requests will be processed by ICICI Lombard. The ICICI Lombard 24/7 call centre on 1800-209-8888 is an all India toll free number and accessible from all landlines and mobile phones.
The policy will be valid for a period of 30 days from the date of inception of the policy which is also the date of travel. In case of a round trip the insurance will be valid till the date of return or the end of 30 days whichever is earlier. Deccan is a part of The UB Group owned Kingfisher Airlines. Deccan's merger with Kingfisher Airlines has created the single largest airline in the Indian aviation industry, connecting 69 destinations and operating over 570 flights daily with a fleet of 78 aircraft. While Kingfisher serves the luxury segment, Deccan caters to the broadest spectrum of travelers in India and offers value added services at the most competitive fares. ICICI Lombard is a 74:26 joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited; a Canada-based 26 billion dollar diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.
The company is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 17,266 million for the half year ended September 30, 2007 with a market share of 12 percent and compounded annual growth rate of over 45 percent in the last two years.