ICICI Lombard General Insurance, has commissioned a survey with a sample size of 1000 travel enthusiasts, across 10 cities, who have travelled to international destinations in the last year.
The survey states that long weekends are a major trigger for leisure travellers to plan their trip as 31 per cent claim to plan their trips in advance with their family. It highlights a trend in young travellers from big towns, by stating that at least 53 per cent opt for sudden bag packing trips over planned ones. Apart from the shift witnessed on impulsive travelling, the survey also highlighted how Indians are having an increasing penchant towards travelling. A majority of 54 per cent of the base size takes at least one trip annually while around 17 per cent travel more than twice a year.
The survey enumerates factors such as relaxation, adventures, family togetherness, self discovery and prestige as some of the prime reasons to travel. While in small cities the travellers’ interest in nature and family togetherness leads with a size of 58 per cent and 53 per cent respectively. Respondents from big cities travel more for a break from the monotonous city life and as a means to relief tension. The survey indicates how a leisure traveller prefers destinations with adventure sports and wildlife such as South Africa, London, Switzerland, Thailand and Malaysia being the top five destinations in demand. However, travellers will only travel to the non preferred destination if complete coverage against crime, terrorism and loss of valuables is provided.
With all the factors considered, a traveller still has to deal with some or the other uncertainty in some of the cases. The survey emphasises on personal accidents, baggage & passport loss as the biggest fear for the travellers with a number of 50, 47 and 46 per cent respectively. Travel insurance is undoubtedly one of the most relieving tools to overcome these concerns and ensure a secure and stress free travel. Travellers found travel insurance was a key solution protecting one in case of a medical emergency (48 per cent), baggage and passport loss (15 per cent), cancelled flight charges (11 per cent), accidental death and general safety (8 per cent). The survey finds out that the travellers will be willing to travel to their non preferred destinations if complete coverage against crime, terrorism and loss of valuables is provided.
Commenting on the survey, Sanjay Datta, chief- underwriting, Claims & Reinsurance, ICICI Lombard General Insurance, stated, “ICICI Lombard believes in constantly adapting to the changing consumer behaviour. The survey successfully captures the factors responsible for the growth of the travel and tourism sector and consequently the demand for travel insurance. We have commissioned this survey to be well versed with our consumer’s mindset and behaviour in order to align our products and offerings with changing consumer need.”
67 per cent of the key source of information which supports travel activities is sourced from online blogs and newspapers. Online medium is considered as an extremely convenient medium with 77 per cent users, where young travellers exceed their older counterparts in deriving travel information; whereas, friends remain the reliable source for small town and aged travellers.