Malaysian low-cost carrier Air Asia has expanded its existing travel insurance partnership with Labuan-based Tune Protect Re and the Hong Kong arm of P&C insurtech bolttech to offer coverage in the SAR.
Air Asia already offers travel insurance in partnership with Tune for journeys to a number of the 25 countries it offers flights to.
The Hong Kong offering will see Air Asia act as the licensed corporate agent of bolttech Insurance in partnership with Tune Protect Re and it will provide benefits including: personal accident coverage, trip cancellation, baggage and flight delay coverage, and 24-hour Worldwide Travel Assistance.
The travel insurance also includes an ‘On-Time Guarantee’, which provides a payout if customers experience a delay of at least two hours from their original or rescheduled departure time advised by AirAsia.
In a statement the Labuan firm said that the move was part of a strategic plan to expand its regional footprint and that the bolttech would provide ‘local market reach’.
In the same release, bolttech said that it was aiming to become a leading global player in the travel insurance sector.
Tune Protect Re was founded in 2011 and currently provides travel insurance for three low cost airlines: AirAsia, Air Arabia and Salam Air.
Bolttech was set up in 2019 and styles itself as the “world’s leading insurance exchange’. According to bolttech’s website the insurtech currently has 700 distribution partners and 230 insurers in its global network and its platform currently quotes more than US$55 billion in premiums worldwide.
