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Travel Insurance Marketing Checklist

Increasing Your Revenue Through Travel Insurance Sales

As a small business owner or manager, you understand tight margins and the need to make good, efficient business decisions in order to maximize profit so you can continue in your mission of serving clients. For many tour operators and other travel industry servicers, offering travel protection plans to customers is often an underrated method of building revenue.

How does it work?

When you contract with Travel Insurance Services to offer one of our travel plans to your clients, we set an agreed-upon competitive commission rate per sale. Each time one of your clients purchases our travel plan from you, more money goes in the pocket of your business. It’s one of the easiest ways to boost your revenue as it doesn’t require much legwork on your end. Once you sign a contract with Travel Insurance Services, we provide the information you need to share with your clients. You may opt to create a custom marketing piece or flyer promoting the plan to your clients, but we can also assist in this endeavor.

No matter who you partner with to offer travel protection plans, your travel insurance provider should help you develop materials and strategies to increase the take rate among your clients.

The impact of our partnership is that your business can increase revenue from travel insurance by 30% or more. With an average trip cost of $2,500 and insurance take up rate of 20%, a more passive account would earn $40K from travel insurance sales. With the help of our marketing support and strategies, our average client take up rate is much higher at 50%, which generates a total of $100K to their bottom line.

Travel Insurance Services Case Study

We worked with a small cruise line and implemented a series of training and educational sessions. We also provided marketing material and relevant information on travel insurance to share with their clients. These initiatives resulted in a 50% take-up rate for travel insurance sales.

Revenue from Travel Insurance Sales: By the Numbers

Typical Travel Insurance Revenue for PASSIVE Tour Operator:

 

Total Customers:

1,428

Average Trip Cost:

$2,500

Average Travel Insurance Total Premium per Insured Sale:

$212.50

Annual # of Travel Insurance Sales (7% participation):

100

Annual Commission Revenue from Travel Insurance:

$5,312.50

   

Typical Travel Insurance Revenue from EDUCATED & TRAINED Tour Operator Team:

 

Total Customers:

1,428

Average Trip Cost:

$2,500

Average Travel Insurance Total Premium per Insured Sale:

$212.50

Annual # of Travel Insurance Sales (50% participation):

714

Annual Commission Revenue from Travel Insurance:

$37,931.25

   

Bottom Line Additional Revenue to Tour Operator:

$32,618.75

Get Started Today

Interested in adding to your bottom line by selling our travel insurance products? Please contact us to inquire or discuss your options!

If you’re a tour operator or other travel company looking to sell travel insurance to your clients, please contact:

Sharon L. Broo

Vice President, Travel Insurance Sales

Sharon.broo@usi.com

(770) 905-4065

 

For general questions about our products, contact Travel Insurance Services Customer Service:

M – F, 9am – 7pm EST

(800) 937-1387

info@travelinsure.com

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