livi bank launches app-based travel insurance plan

This is the bank’s first general insurance offering.

Hong Kong lifestyle-driven virtual bank livi bank has launched Travel Now, an app-based simple-to-use travel insurance plan to help consumers meet travel insurance needs amidst relaxation of COVID-19 rules.

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“With the easing of quarantine measures, our customers are excited about travelling and planning new adventures, although we understand they have concerns about being impacted by changes in immigration and quarantine rules. The Travel Now Insurance Plan is designed to ensure they can set off on their next trip with peace of mind and enjoy their holiday,” said livi Chief Product Officer Carol Hung.

Through the livi app, consumers can:

• Plan covers medical expenses, trip cancellations and interruptions due to sickness, including COVID, so customers can enjoy travelling worry-free even during times of uncertainty.
• Protection on hazardous activities and car rental gives our more adventurous customers added comfort as they pursue their excitement and passions.
• Comprehensive coverage provided on personal belongings, including mobile phone and laptop, as well as liability cover, keeps our customers’ important lifelines protected.
• And loved ones are also being taken care of with free premium for children (from the second child onwards) and unique complimentary pet-related protection.

The debut travel insurance plan offered through livi provides two levels of tailored protection to address the concerns about changing local and overseas immigration and quarantine rules. Travel Lite and Travel Plus provide comprehensive coverage to meet customers’ need for peace of mind – with premiums from as low as HK$9 per day under the 35% discount offer from now till 31 December 2022.

Under Travel Lite benefits include:

• Double Indemnity of Personal Accident up to $310k (HK$ 2.4m)
• Protection for dangerous activities, including bungee jumping, parachuting, rafting, diving, trekking and hot-air ballooning, etc.
• Protection for Outbound Travel Alert (OTA) – delay of the scheduled departure, curtailment, or cancellation
• Protection for car rental
• 24-hour Worldwide Emergency Assistance Services and Benefits – emergency medical services, deposit guaranteeing of hospital admission and medical evacuation
• Student Short-Term Study Cover – extend cover for unmarried full-time students aged 23 or below
• Pet protection – up to $50.96 (HK$400) per night for a pet to stay at a pet hotel due to travel delay for more than 24 hours

Meanwhile, Travel Plus offers extended protection on Enhanced Benefits and Cruise Benefits such as cash allowance covering compulsory quarantine and issuance of “Black Alert”, personal computer and mobile phone cover and severe incident extended cover if travel is delayed. Additionally, Cruise Benefits will cover travellers should their cruise be cancelled, interrupted or curtailed, as well as shore excursion cancellation allowances, satellite phone expenses and cover for other eventualities.

The Plan is underwritten by BOC Group Insurance Company Limited (‘BOCG Insurance’), an affiliate of livi’s major shareholder BOC Hong Kong (Holdings) (‘BOCHKH’). This is the second time that livi is collaborating with an affiliate of BOCHKH for insurance offerings. The partnership with BOCG Insurance underscores livi’s strategy of leveraging its shareholder ecosystem to enrich the customer experience.