Most Singaporeans had positive pandemic-related travel claims: survey

Over half were processed within seven days.

Over 80% of Singaporean travel insurance policyholders had a positive claims experience despite the initial surge during the initial COVID-19 outbreak in December, according to a GoBear survey.

The platform’s 2020 Singapore Travel Claims Survey revealed that 83% had made claims on their travel insurance policies from December 2019 to March 2020, which had risen to 93% by April.

Cancelled (40%) and delayed trips (26%) were cited by respondents as the top reasons for filing claims. More than half (56%) were not required to submit additional documents.

Over half (55%) of claims were processed within seven days, with more than 75% of all claims handled within two weeks. Only 5% were submitted via a mobile app, showing an opportunity for insurers to spur adoption of the platform.

A positive claims experience drives loyalty and customer return, with 88% believing their claims experience was important or very important when purchasing travel insurance in the future. More than four in five (85%) said they were likely to purchase a policy from the same insurer based on their experience.