NIB Travel enjoys late surge

NIB Travel has significantly turned around its sales volumes during the 12 months to 30 June, and while the division is yet to return to profitability, a resurgent fourth quarter has the brand confident of storming back into the black in the next 12-month period.

FUELED by borders reopening and a returning appetite to travel among Aussies, nib Travel’s CEO Anna Gladman said that a sizable shift in the way travellers view insurance has helped the company’s recovery.

She noted that the pandemic had initiated a heightened sense of risk in the minds of consumers, resulting in not only a higher take-up of travel insurance, but also a more detailed look at each policy and a higher proportional spend for each trip.

“COVID, with all of its issues, has helped people become far more aware of the risks and what we are seeing is a significant number of extra customers choosing travel insurance,” she said.

“So while travel hasn’t recovered fully yet, and we’re not seeing the same number of people travelling that were pre-COVID, what we are seeing is a higher proportion of customers taking travel insurance out and those that are taking higher levels of cover,” Gladman added.

Offering various forms of COVID-19 coverage has also been “absolutely critical” in getting travellers to commit to purchasing travel greater protection, Gladman believes, adding that outside of the real threat of viruses like COVID-19, part of the rise in interest as been driven by media coverage as well.

“Insurance is all about covering fears and doubts…and the demand for insurance is often driven by an awareness of risk and with all the media coverage of COVID and ‘what would happen if I got COVID while away’, if we didn’t have some form of cover to help with that fear then people would ask ‘is it even worth me travelling’,” Gladman explained.

The comments coincide with a brand refresh for nib Travel this week, with new logos and collateral designed by Landor & Fitch Australia launching to the market with the aim of creating a fresh and warm feel for travellers.

“Launching the refreshed brand is well timed as the travel industry continues to show strong signs of recovery and nib Travel continues to see greater success with the recently launched product suite that includes some cover for Coronavirus related events,” the company said.

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