If you thought that tech giants like Google, Amazon and Facebook were the biggest threats facing the insurance industry, then what about the arrival of a travel superpower?
Ryanair has today announced the launch of its own unlimited travel insurance policy service that will be offered via its website.
Airlines are well-known for making relationships with insurers and trying to sell insurance tagged on to cheap flights – but now Ryanair will have its own insurance thanks to a partnership formed with Europ Assistance. The product will see the air company offer insurance for an unlimited number of trips each year, with cover of up to 28 days for each..
“As we continue to grow our annual traffic to 130 million passengers in the next 12 months, our customers have expressed an increasing need for travel insurance cover,” explained Ryanair’s director of ancillary revenue, Greg O’Gorman, as quoted in the
Daily Express.
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“We’ve partnered with Europ Assistance… to provide a comprehensive and competitive annual travel insurance product and support service, at the great low prices Ryanair customers have come to expect.”
The decision comes on the back of the firm releasing its quarter three numbers for 2016, with average fares dropping 17% to £28 and passenger numbers climbing 16% to 29 million over the period.
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