New Delhi, Aug 11 (UNI) Galileo today said it has partnered with Future Generali to facilitate travellers with travel insurance.
The product-- Future Generali Travel Suraksha, will offer convenient and fast insurance to travellers providing them an easy and safe travel, a company statement said.
The insurance will provide risk cover for contingency expenses during overseas travel like medical expenses, financial, and other losses incurred while travelling.
''The effective and competitive pricing of their product would ensure a quick acceptance in the travel trade. This tie-up would also provide an opportunity for the travel agents to bundle insurance as part of their package offering to the travellers,'' Galileo India President and CEO Bruce Hanna said.
Galileo anticipates the travel insurance sector to grow by over 18 per cent annually.
''This tie-up would help Future Generali reach over 11,000 touch points spread out into 333 cities within India,'' Mr Hanna added.
The maximum cover for travel insurance is 5,00,000 dollars, but the premium will depend on the age of the traveller, the number of days travelled and countries visited.
According to a report, the travel insurance business is estimated at Rs 300 crore.
With over eight million Indians travelling abroad, this amount roughly covers only 20-25 per cent of the travellers, which means still there is a huge market untapped.
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