Following a partnership with Global Rescue, Allianz has ventured into equally new (if less exciting) territory by selling their product to conference attendees through Embark, a major conference industry company. Hailed as a “new and exciting ancillary revenue opportunity” by company leaders, it is now possibly to insure trips to Hewlett Packard as well as Hawaii. But unless the insurance outperforms travel insurance, there’s likely to be a slew of upset entrepreneurs and businessmen looking to get their refunds.
Travel insurance has a checkered history at best, often failing to live up to its promises. Many who’ve had to cancel their trips at the last second are unable to recoup their expenses when insurers balk, claiming that cancelling the trip was unwarranted, or that they won’t cover certain expenses. Even among insurance companies, travel insurers are especially reviled, and many complain that trying to reason with them is like running into a brick wall.
If this legacy is any indication, conference insurance may be a poor idea for businesspeople. Fighting a bureaucracy over a few grand is hardly an enticing option for those trying to move up the corporate ladder or get backing for a tech startup. If Allianz can’t provide an appealing, reliable and worthwhile investment, it’s going to be hard to convince their customers to shell out.
Travel insurance companies sell their product by making it seem like an easy add-on to air-fare or cruise tickets. It’s offered with just a click at checkout, and purports to provide relief from some of the worries of travel. Conference insurance will be sold the same way, but hopefully will be better able to live up to those promises better than travel insurance.
If you have purchased travel insurance from Allianz recently and have been dissatisfied with your purchase, please contact Evans Law Firm at (415) 441-8669.