NTUC Income, an insurance cooperative in Singapore, launched its new travel insurance offering called “FlexiTravel Hourly Insurance”.
As indicated by its name, this insurance enables travellers to purchase travel protection as needed by the hour.
Available for those who are travelling only to Bintan and Batam (Indonesia) as well as Malaysia, this is a flexible and affordable way for travellers to insure themselves for short or impromptu regional trips by land or sea that range from a few hours to a full weekend.
The FlexiTravel Hourly Insurance charges a minimum of SG$1.80 for six hours of protection, with the option for travellers to add on coverage at a rate of SG$0.30 for every additional hour, capped at a maximum charge of SG$3 per day.
Accessible via the ‘My Income’ mobile app, travellers can activate and stop their insurance coverage at anytime.
With its geolocation feature, the app is designed to push notifications to travellers and remind them to activate their insurance plan when it detects that they are departing Singapore, and to terminate their plan upon arrival in Singapore.
Alternatively, travellers can update their travel details manually in the app without the need to turn on the geolocation feature.
Annie Chua, Vice President and Head of Personal Lines, NTUC Income said,
“Travelling always involves a certain level of risk, be it short or long trips as unforeseen circumstances can occur any time. Based on a recent survey we conducted, we found travellers to be most concerned about seeking assistance when mishaps occur such as catching COVID or getting injured while overseas and needing medical treatment, as well as losing their personal belongings.
However, despite these concerns, majority of the respondents still find purchasing travel insurance for such short trips expensive or cumbersome. With this in mind, we designed FlexiTravel Hourly Insurance to offer a pay-by-the-hour proposition to solve travellers’ pain point so they can continue enjoying their short trips while staying protected.”