Kiwi Travel Insurer Tops Australian Best Value

Kiwi Travel Insurer Tops Australian Best Value Survey

New Zealand insurer Southern Cross Travel Insurance (SCTI) has once again topped a comprehensive survey of Australia’s best value travel insurance products.

SCTI’s international travel insurance product TravelCare was rated as offering ‘five-star’ value in an Australian survey of 42 insurance brands and 221 policies. In particular, SCTI was recognised for its pricing and high item limits in its policies.

The Kiwi insurer was one of just five brands awarded a five-star rating for ‘outstanding value’ by research house Canstar Cannex. In 2009, the business was one of two brands awarded a five-star rating, despite only entering the Australian market in April that year.

SCTI chief executive Craig Morrison said the award was validation of SCTI’s commitment to furthering its ‘direct to consumer’ online business model. In New Zealand, around 92 percent of SCTI policy sales are now transacted through its website.

In the last year the business had focused closely on maximising operational efficiencies by making a significant investment in technology, said Morrison. Over 70 percent of SCTI customers now have their insurance documents emailed to them rather than paper mailed, while 45 percent receive post-purchase text message confirmation of their policy number and an emergency assistance phone number.

“The savings gained by going direct to the consumer online allow us to offer customers a high quality, low- priced product in what is an extremely competitive market. After launching in Australia just 15 months ago, we are pleased with our progress. It was never going to be easy but a good foothold has now been established. Our 28 years of experience in New Zealand has made SCTI a trusted, value-for-money brand here at home - so the Canstar rating is a welcome boost to establish this in the minds of Australian travellers.”

Morrison said the award comes on top of a period of strong growth for SCTI in New Zealand, in what was largely a flat market. In the 2010 financial year, sales volumes were up 33 percent over the previous year. This saw the business insure around 200,000 travellers, a 26 percent increase on 2009.

SCTI is a wholly-owned subsidiary of the Southern Cross Health Trust, which is part of the Southern Cross Healthcare Group. The Australian website is www.scti.com.au and New Zealand website is www.scti.co.nz.

ENDS

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