Mox Bank launches annual travel cover for unlimited trips

Customers can purchase policies, manage coverage and file claims through the mobile app.

Mox Bank has launched an annual travel insurance plan in Hong Kong in partnership with QBE Hongkong & Shanghai Insurance, offering customers unlimited trips over 12 months through its mobile app.

The Travel Pick & Go Annual Plan, underwritten by QBE, covers unlimited trips of up to 90 days each and includes medical cover and 24/7 emergency assistance.

Customers can buy the policy, manage it and submit claims entirely through the Mox app.

The bank said it developed the annual plan after analysing customer behaviour, with data showing that more than half of customers buying its single-trip travel insurance also purchased one or more optional add-ons.

The annual policy now includes five add-ons at no extra cost: mobile phone theft cover of up to $1,040 (HK$8,000), fraudulent credit card use cover of up to $1,300 (HK$10,000), food poisoning cover including medical expenses and a cash allowance of up to $130 (HK$1,000), adventurous sports medical cover, and missed event cover of up to $1,560 (HK$12,000).

The bank said 98% of claims under its existing travel insurance products are processed within five working days, with approved claims paid directly into customers' Mox accounts.

The annual plan also covers travel delays caused by airline operational issues, delayed connecting flights and airport security delays.

($1.00 = HK$7.84)