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    Roam Travel Insurance

    Thomas Cook Money

    Roam is the better way to do travel insurance; smoother, more efficient and intuitive. It puts the customer back in control; empowering them to toggle the levels of insurance cover to match what essentials they really need, while still providing extremely competitive cover across all other features.

    What customer problems did you set out to solve?

    Travel insurance is often a product which customers know they need, but don't really understand, and so frequently end up either over-insuring or under-insuring themselves and not really knowing what they're entitled to claim on. Additionally, the journey to purchase can be long, confusing and down-right frustrating, while the claims journey is predominantly still paper-based and can take up to a month to even begin to resolve. On the whole, the travel insurance industry is still behind many others in prioritising the customer, and given the available market was something we needed to address

    What differentiates your proposition from other offerings in the market?

    Through our research and customer testing, we learnt that what the customer really wanted was to know what the cost would be, and not have to spend upwards of 10 minutes trying to buy a policy. As a result, we have focused the structure of the journey, focusing on delivering quote within 3 clicks, and allowing you to reach the end in under 15 (~3 mins) while remaining a simple and intuitive journey. Additionally, we have empowered our customers to flex their cover where necessary, and have our '24hr promise' which ensures that we will acknowledge any claim within 24 hrs of submission

    How have you proven that your concept has potential for impact?

    We are in the lucky position where we have already had 3 months under our belt to really understand the impact of Roam in the market since we launched mid-July. We have already seen an uplift in sales of 64% vs. our web-only equivalent offering from the same time last year, and have seen that, to date, 49% of our policies are being bought on our flexible, 'toggleable' product which suggests an appreciation of the opportunity, but not force, to adjust their cover. We continue to work with our customers to improve the journey and product to ensure that our impact only continues to grow with Roam

    Where do you see this proposition in 12 months time?

    Our immediate builds focus on delivering Annual Multi-Trip and digital claims which will provide our customers with a full product suite. Within 12 months we are also looking to enhance further by enabling in-destination purchasing, auto geo-location activation and inbuilt amendment capabilities.

    Find out more about Thomas Cook Money here