NTUC Income, an insurance cooperative in Singapore, has launched its new travel insurance offering called “FlexiTravel Hourly Insurance”.
As the name suggests, this insurance allows travelers to purchase travel protection according to their needs at the time.
Available to those traveling only to Bintan and Batam (Indonesia) as well as Malaysia, it is a flexible and affordable way for travelers to insure themselves for short or impromptu regional trips by land or sea ranging from from a few hours to a full weekend.
FlexiTravel Hourly Insurance charges a minimum of SG$1.80 for six hours of protection, with the option for travelers to add coverage at a rate of SG$0.30 for each additional hour, capped at a maximum of SG$3 per day.
Accessible via the ‘My Income’ mobile application, travelers can activate and stop their insurance coverage at any time.
Using its location-based feature, the app is designed to send notifications to travelers and remind them to activate their insurance plan when it detects that they are leaving Singapore and to cancel their plan upon arrival in Singapore.
Alternatively, travelers can update their trip details manually in the app without needing to activate the geofencing feature.
Annie Chua, Vice President and Head of Personal Lines, NTUC Income said:
“Travelling always involves a certain level of risk, whether on short or long journeys, as unforeseen circumstances can arise at any time. Based on a recent survey we conducted, we found that travelers were most concerned about seeking assistance in the event of an incident, such as catching COVID or getting injured while abroad and needing medical care, as well as losing their personal belongings.
However, despite these concerns, the majority of respondents still find it costly or cumbersome to purchase travel insurance for such short trips. With this in mind, we designed FlexiTravel Hourly Insurance to offer a pay-by-the-hour proposition to solve the problem for travelers so that they can continue to enjoy their short trips while remaining protected.