Financial Daily from THE HINDU group of publications
Thursday, May 16, 2002
Financial Daily from THE HINDU group of publications Thursday, May 16, 2002 |
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Money & Banking
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General Insurance Thomas Cook launches travel insurance scheme Our Bureau
Mr Ashwini Kakkar (left), Chief Executive Officer and Managing Director, Thomas Cook India, and Mr Dalip Verma, Managing Director, Tata AIG General Insurance Company, at a press conference in Mumbai on Wednesday.
MUMBAI, May 15 THOMAS Cook Insurance Services (I) Ltd on Wednesday launched `Travel Care', an overseas travel insurance plan, which will be underwritten by Tata AIG General Insurance Company Ltd. Travel Care, which will be co-branded by Thomas Cook and Tata AIG, caters to the insurance needs of customers that are `specific' in nature and covers accidental death and dismemberment, loss of passport, etc. Plans were also under way to link this up with home insurance, said Mr Ashwini Kakkar, CEO and Managing Director, Thomas Cook (India) Ltd, addressing a press conference here on Wednesday. "For insurance, we have drawn on our experience and expertise of the travel space to design Travel Care. There is an immense growth in outbound travel, which will lead to increasing demand for personalised travel insurance plans,'' he said. Travel Care currently offers three risk plans in the single trip category - classic, executive and premium. While in the annual multi-trip category, premium is the plan of choice. There is also a family care programme for families with more than two members travelling abroad together. The overseas travel market in India is pegged at around Rs 400 crore and Tata AIG aims to corner around 40-50 per cent market of the travel insurance business, Mr Dalip Verma, Managing Director, Tata AIG General Insurance Company said. "We have designed Travel Care as an overseas travel insurance product exclusively for Thomas Cook,'' he added. Besides insurance for individuals, Thomas Cook is planning customised travel insurance products for corporates and for students going abroad for studies. Thomas Cook Insurance services (I) Ltd is a wholly owned subsidiary of Thomas Cook Ltd and is a corporate agent for Tata AIG General Insurance Company Ltd.
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