Allianz and Marriott Are Reimagining Travel Insurance for the Hotel Guest

The hospitality sector continues to rebound from the pandemic, with travelers making up for lost time booking all types of travel. Whether they’re looking for hotel stays for international “to-do list” vacations, local weekend getaways, or week-long work vacations, travelers are turning to hotels that offer flexibility. reservations and generous cancellation policies – but many travelers don’t take the time to research and select a travel insurance policy for their hotel.

Allianz Partners, which has a long history of serving travelers around the world, recognized this opportunity last year by collaborating with Marriott International, becoming the first company outside of small all-inclusive brands to offer insurance directly within the booking platform of a major hotel chain. This collaboration allows Marriott to offer its customers additional travel protection when booking their hotel stay through the Marriott website and the iOS version of Marriott Bonvoy mobile app.

To learn more about how the companies are working together to improve customer experience while generating ancillary revenue, SkiftX spoke with Tom Trotta, Vice President of Sales and Partnerships at Allianz Partners, and Peggy Fang Roe , Global Head, Guest Experience, Loyalty and New Loyalty Ventures at Marriott.

SkiftX: How is Allianz Partners leveraging its advantages as an established financial institution and agile innovator to adapt to changing travel trends in the wake of the pandemic?

Tom Trota: We quickly added temporary accommodation requests when the pandemic began to help travelers who became ill with Covid either before their trip started or during their trip. We are proud to have been able to act quickly to deal with a rapidly evolving situation. While epidemic losses were completely excluded from coverage at the time, taking care of our policyholders was the right thing to do for them and for our industry partners.

During this period, we have also put in place additional arrangements to offer customers reimbursement of their travel insurance premium when their trip has been canceled by their travel supplier due to Covid. Since then, we have enhanced our product portfolio with new coverage for several outbreak-related situations – this coverage is now available in most states. We continue to leverage our capabilities to develop new products that help our customers who are now navigating a new normal. Plus, our free TravelSmart app Includes resources to help travelers with features like real-time travel alerts, approved medical provider locators, and medical translations to help them before and after arriving at their destination.

SkiftX: How is the collaboration between Allianz Partners and Marriott unique?

Trot: We’re excited to be working with Marriott to deliver exciting new products, including a policy that can cover everyone staying in a room, even if they’re not on the reservation, for covered events that may occur unexpectedly before or during a customer’s trip. These new products allow the reimbursement of prepaid and non-reimbursable expenses beyond the cost of the room, within the limits of the policy.

In situations where the property’s cancellation penalties are not of concern to their customers, other products may cover, subject to the plan’s terms, conditions and exclusions, en-route issues such as lost baggage, missing items, travel delays and disruptions. For international travel, we add coverages such as emergency medical and dental care, medical evacuations and individually ordered quarantines. Our insurance products and assistance services provide the extra confidence that many customers may need to book their next trip.

SkiftX: Why is travel insurance particularly valuable to Marriott customers today, and how is Marriott addressing customer needs with its insurance strategy?

Peggy Fang Roe: Caring for our customers while they explore the world has always been a fundamental tenet of our business, and today’s less predictable travel environment has made the need to protect travel decisions more urgent.

Together with Allianz Partners, we are designing new and innovative ways to provide customers with confidence and peace of mind when traveling. Allianz’s industry-leading product provides protection for all travelers in the group and protects travel purchases beyond the hotel stay, which is truly a game-changer. This new travel insurance product is another example of how we’re transforming to deliver more thoughtful benefits and value to travelers throughout their journey.

SkiftX: the customer experience starts with booking, which travelers expect to be transparent and personalized Why was it important to offer the possibility of purchasing insurance directly in the purchase journey?

CrocRoe: You are quite right; Customers expect seamless and personalized customer experiences, which includes providing insurance options tailored to customer needs. That’s why we’ve worked with Allianz Partners to arrange a range of policies that vary in price, coverage and benefits and are readily available to purchase at the time of booking. This can help travelers save valuable time and effort.

SkiftX: How does Allianz Partners ensure that it presents the most relevant offers and experiences alongside its hotel partners during the booking process?

Trot: Our e-commerce booking platform, known as Fusion CORE, is a state-of-the-art technological solution that optimizes a personalized insurance offer for each customer’s booking, all in a fraction of a second. This saves customers time and helps them get the coverage that best suits their needs. The fact that our products cover everyone in the room can also result in huge savings for travelers who would otherwise have to cover each individual separately on their insurance policy.

Our marketing optimization program succeeded in creating a more personalized experience and generating satisfied customers. Working closely with our wide range of partners, we take a data-driven approach to fundamentally understand customer behavior, then methodically and continuously improve a customer’s experience through experimentation. Our program utilizes over 900 unique and scalable customer segments while delivering over 1,500 experiences. As a result, our team of experts is able to drive double-digit insurance revenue growth with partners every year.

Our technology and optimization strategies allow almost unlimited flexibility on where and how we offer our products. We are able to dynamically offer different products based on factors such as booking windows, length of stay, destination or destination groups, travel costs, membership status, frequency of trips, etc. – essentially any Data Element or Derived Data Element available on the Platform. .

SkiftX: As Marriott’s loyalty strategy evolves, how does the company plan to expand its travel insurance offering?

CrocRoe: The travel insurance space is a huge growth sector. We want to maximize opportunities in the United States and extend offers to customers residing in other countries such as Canada, major European markets, etc. We also want to identify the most effective products to complement our current offerings, such as annual travel insurance plans, event cancellation, etc.

SkiftX: What additional value can Allianz Partners bring to hotel brands, and how does the company hope to expand its hospitality collaborations?

Trot: Marriott is a pioneer with us in this area, so we look forward to continuing to grow with them. We work with other brands in the hospitality space including timeshare companies, luxury alternative accommodation provider, luxury cruise lines and tour operators.

Our value lies not only in this broad base of growing relationships, but also in our ability to meet changing traveler needs and responses to our products and offerings. We survey over 2.5 million customers annually and leverage over 166 billion data points to understand and predict trends. We are proud to be the original “insurtech” company.

For more information about Allianz Partners, please visit AllianzAdvantage.com. To learn more about Allianz Partners travel insurance products offered by Marriott, please visit TravelInsurance.Marriott.com.

Terms, conditions and exclusions apply to all plans. To see Details and Disclosures.

This content was created in collaboration with Allianz Partners and Skift’s branded content studio, SkiftX.