, Australia
Stock photo. Credits to Unsplash.

Significant portion of Aussie millennials plan to travel without insurance: ICA

Almost eight in 10 Australians under 30 are planning to travel more often.

A significant number of under-30s are planning to leave Australia without the protections afforded by appropriate travel insurance, the Insurance Council of Australia said.

Citing the results of its joint survey with the Australian Government’s Smartraveller website, in general, Australians plan to travel more in the future but after two years of lockdowns, there is an atmosphere of caution amongst many of those intending to travel.

However, the 2022 joint survey shows that an alarmingly high number of people hold mistaken beliefs about the support they would receive from the Australian Government if something was to happen to them when overseas.

12% of under-30s are ‘active rejectors’ of travel insurance who consciously plan to travel without insurance, in comparison to 3% of those aged over 30. The most common reason given for this is being unsure that travel insurance is needed. 

ALSO READ: India life insurance first-year premiums bounces back at 15.3% in October

70%t of all respondents and 78% of under-30s say they are planning to travel more often in future in response to being unable to travel during 2020 and 2021. 68% said the pandemic has made them feel less confident to travel overseas and nine in ten (86 per cent) say they’ll be more cautious about travelling to places where it could prove harder to get back to Australia in a crisis.

More than two-thirds think that if an Australian has a medical emergency overseas, a representative will ensure they get the medical treatment they need. One in two believe that if an Australian has a medical emergency overseas the Australian Government will arrange and fund repatriation.

95% say that cancellation cover for claims relating to Covid-19 will be an important consideration when they come to purchasing travel insurance.

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Income-Allianz failed merger shows popular opinion is king
The deal faced backlash from Singaporeans who thought it betrayed Income’s social mission.
Filipino gamers hold promise for FWD
The insurer plans to support other games and aspects of the gaming ecosystem beyond esports.