According to a recent survey conducted by the Insurance Council of Australia (ICA) and the Australian Government's Smartraveller website, a significant number of people under the age of 30 intend to depart Australia without the protection provided by appropriate travel insurance.
Australia's population as a whole intends to travel more in the future, but many people are being cautious after two years of lockdowns.
The joint survey from 2022 reveals that a startlingly large number of people have the wrong idea about the assistance they would get from the Australian Government if something were to happen to them while they are abroad.
The following are the main findings from the survey:
Pent-up demand: 78% of respondents under 30 and 70% of all respondents say they plan to travel more frequently in the future as a result of not being able to do so in 2020 and 2021.
Travelers are cautious: 90% say they'll be more cautious about traveling to places where it might be harder to get back to Australia in an emergency. Two thirds (68%) say the pandemic has made them feel less confident to travel abroad.
COVID coverage: 95% of respondents say they will give cancellation coverage for COVID-19 claims serious consideration when shopping for travel insurance.
Expectations for consular assistance: More than two-thirds (68%) believe that if an Australian travels abroad and experiences a medical emergency, a representative will make sure they receive the necessary medical care. 50% of respondents think that the Australian Government will arrange and pay for repatriation if an Australian suffers a medical emergency abroad.
Risky under-30s: 12% of those under 30 actively reject travel insurance, compared to 3% of those over 30, and consciously plan to travel without it. The most frequent justification for this is uncertainty regarding the necessity of travel insurance.
Travel insurance providers are creating a variety of extra perks in addition to addressing Covid-related client expectations to better serve customers. These include "on-the-go" purchasing of cover for some higher-risk activities as well as mobile access to real-time safety alerts based on location and risk.
On behalf of Smartraveller.gov.au and the ICA, 2022 Quantum Market Research surveyed 1,001 Australians who had already made travel arrangements or were actively considering doing so in the near future.
