The Travel Black Box is an automated medical risk assessment tool which allows travel insurers to assess the risk presented by customers with pre-existing medical conditions. The majority of travel insurance policies in Spain do not provide cover for pre-existing medical conditions so Fit 2 Trip are bringing something entirely different to the Spanish market.
Key to the new Travel Black Box launch was the development of a bespoke database which reflects the risks associated with an individual travelling outbound from Europe. In addition to a full Spanish translation of the medical dataset, Fit 2 Trip has also taken an English copy of the European Travel Black Box to cater for the large British expatriate market in Spain.
According to EU statistics, 26.2% of Spaniards (12.25 million people) claim to have a long-standing illness or health problem. This fact coupled with the insurance broker’s strategy of offering consumers a broader choice of benefits in their travel insurance products, suggests that there is a sizeable market ready to be tapped in to as well as opportunities for product differentiation.
This new development provides a solution for customers with pre-existing conditions who previously had limited access to cover via the standard products offered by Spanish travel insurers. The result is wider and better product choices for the Spanish consumer which benefits the market as a whole.
Healix España, based in Madrid, play a pivotal role in this partnership as they are responsible for handling the Medical Support Line (in Spanish) for those sellers who are unable to find a particular medical condition. Healix España have also been appointed as the Medical Assistance provider for this scheme which means that there is total visibility and clarity over the medical status of any customer from point of sale through to point of claim.
If you would like further information on the Spanish Travel Black Box or are interested in exploring an alternative European territory, please email Lara Suttie at firstname.lastname@example.org.