What is Group Business Travel Insurance?


UAE, one of the largest emerging economies, has a population of approximately 9 million of which 80% are the expatriates. Majority of these expatriates form the UAE’s working population and greatly contribute to the economy’s travel industry. UAE is certainly the commercial hub of the GCC and has growing tourism, trade, logistics, banking, construction and manufacturing sectors. Hospitality industry in itself caters to 12 million visitors per year. Likewise, insurance industry is also growing but still has far lower penetration compared to the US or the UK. The insurance industry has plenty of room for growth and travel insurance is certainly one of the growing areas.

Speaking from a business perspective, if you, as an employer, require your company’s employees to travel frequently for business purposes, they automatically assume that you have a duty of care towards them. If the employee is left stranded because he missed the flight due to a delayed meeting or even a natural peril, he will expect you to pay for the extra accommodation and travel costs that come with it.  Equally, if your employees are injured whilst they are travelling for business reasons, they expect you to financially support them whether by paying for their treatment costs, arranging for the transport back to their home country, or even supporting their family whilst they recover.

Your employees are your most valuable assets and you would surely want to show your commitment to keep them contented. You can easily protect their rights and equally fulfill your responsibility by simply taking out a Group Business Travel Insurance. The following four categories summarise the coverage that a business travel insurance would normally offer your business:

Emergency Medical Expenses Cover

i. Dental accident/Emergency dental treatment.

ii. Emergency medical treatment required due to the insured falling ill or having an accident during the journey.

iii. Emergency evacuation to the nearest hospital e.g. air ambulance.

iv. Compassionate visit, i.e. a family member flying in to accompany the insured in the hospital.

v. Child’s tuition fee if the parent/insured is out of work and unable to support due to an accident/illness.

Travel Inconvenience:

i. Flight delays due to circumstances not under the insured’s control.

ii. Loss of luggage or baggage delays.

iii. Cancellation of the travel plans, tickets, hotel bookings, etc due to an accident or illness of the insured.

iv. Hijack, Ransom and Kidnap.

Personal Accident Cover:

i. Lump sum payment if there is an accidental death or permanent disablement of the employee.

ii. Repatriation expenses.

iii. Partial disablement.

Travel Assistance: This assistance acts like your personal concierge service, providing you with all sorts of assistance that you might require whilst traveling. This could be anything from locating the closest ATM for your card, ensuring that you are treated at a reliable hospital with a specialist doctor, arranging your transport to rebooking your travel and much more.

You would normally be given a choice to take out an annual policy covering your employees every time they travel during the year or otherwise purchase a set number of days and keep deducting the days your employees travel, each time requiring you to issue a new policy for them.

With increasing globalization and competition, many employers now aim to provide a comprehensive list of benefits to its employees. Offering them travel insurance is certainly an add-on for them especially when they are required to travel frequently for business reasons. Normally, this insurance can be extended and be used for the number of days your employees go for a leisure trip as well.

As several countries recover from the recession, many companies are now gradually experiencing growth in their businesses and equally the need for taking up various projects worldwide. Often this requires their employees to travel depending on their level of expertise. With increasing demand for corporate travel, we also see a soaring need for business travel insurance. It is crucial that your business keeps up with the market trend, not just to increase and sustain the company’s growth and profitability, but also to help your company retain the key talent and recruit the best.

Whether you’re looking to take up an individual travel insurance policy or looking into buying a cover for the business travelers of your company, please be in touch with us on afia.ae and we would be happy to give you various options, implement the cover and thereafter also manage your claims for you on a fast-track basis. 

[Image source: businesstravellogue.com]

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