The travel industry has rebounded strongly from the disruptions of recent years, returning to a semblance of normalcy. However, one significant change is evident in the adjacent sector of travel insurance. Allianz Partners New Zealand chief sales officer David Wallace (pictured) has observed notable shifts in this market.
Wallace, a staunch advocate of the adage, “If you can’t afford travel insurance, you can’t afford to travel,” highlighted a growing adherence to this principle among travelers. He shared with Insurance Business that the sector is seeing “more and more” people recognizing the necessity of travel insurance.
According to Wallace, while “the impact of COVID is long gone,” the pandemic has heightened awareness about the importance of insurance. What was once seen as an optional add-on—“I’ll get a policy and throw it in the bag because I feel I have to”—has now become a critical must-have for travelers.
This shift is particularly evident among New Zealanders traveling to nearby Pacific Islands. Wallace pointed to recent events such as dengue fever outbreaks and the New Caledonia riots, which underscore the value of having insurance coverage. He also noted the varying levels of medical support available in different locations, which can be crucial in emergencies.
A recent incident involving Karain and Susan Eketone illustrates the importance of comprehensive travel insurance. While celebrating their silver wedding anniversary in Fiji, Karain suffered a potentially fatal accident when a boat’s propeller fractured his skull while he was swimming with a turtle. Dubbed the “Miracle Man,” Karain required medical evacuation to New Zealand, where he received life-saving treatment. The Eketones had comprehensive travel insurance from Allianz Partners NZ, which covered the critical medical evacuation.
“Knowing that someone was there to take care of things that I didn’t need to worry about was amazing, and just gave me that reassurance that we’re going to give him the best chance,” Susan Eketone said.
Karain added, “[The policy] basically saved my life.”
Wallace emphasized the importance of choosing the right coverage. “You really need to make sure that you understand what you’re covered for and that you’ve got a company that’s going to give you the level of cover you’re looking for,” he told Insurance Business.
Allianz Partners, staffed by approximately 22,600 employees worldwide, medically repatriated 9,881 customers and chartered 1,055 air ambulances in 2023. These figures are part of the 72.9 million cases handled by the global provider last year, highlighting the extensive reach and capability of the company in assisting travelers.
