'TravelPass365 Overseas Travel Insurance'

Targets customers who take frequent short trips abroad

Coverage per trip lasts up to 31 days

[Hyundai Marine & Fire Insurance]
[Hyundai Marine & Fire Insurance]

Hyundai Marine & Fire Insurance said Monday it has launched an annual overseas travel insurance product — "TravelPass365 Overseas Travel Insurance" — through its direct channel, offering year-round coverage regardless of how many trips a customer takes.

The product comes as a growing number of travelers make repeated short trips to nearby destinations such as Japan and Southeast Asia, fueling demand for a more convenient insurance option. Many have complained about the hassle of purchasing a new travel insurance policy each time they depart.

The new product is designed to eliminate that inconvenience. A single enrollment provides automatic coverage for an unlimited number of overseas trips throughout the one-year policy period, with each trip covered for up to 31 days.

Coverage is on par with existing short-term overseas travel insurance products, including medical expenses for injuries and illnesses, loss of personal belongings, and flight and baggage delay costs. The company said it ensured that opting for annual coverage would not reduce the scope of protection.

Customers who enroll together with family members or travel companions can each receive individual coverage for their own separate trips throughout the year — not just trips taken together — and receive an additional 10 percent discount on premiums. Optional riders are available for passport loss and liability coverage. Enrolled customers also receive 24-hour Korean-language consultation services, along with partner benefits for overseas roaming and airport lounge access.

"The travel trend has been shifting away from long-haul, extended trips toward frequent short getaways," a company official said. "The newly launched TravelPass365 Overseas Travel Insurance is focused on easing the burden of repeated enrollment for frequent overseas travelers in line with this changing trend." The official added that the company plans to continue introducing products tailored to evolving trends and diverse customer needs.


won@heraldcorp.com