As international commercial flights have resumed their operations on March 27, the demand for travel insurance has also increased. A huge number of international travelers are buying the insurance now as compared to pre-pandemic levels.
Witnessing an overwhelming surge in demand for travel insurance, the insurers are excited and expecting tremendous growth, two years after the COVID-19 pandemic has hit the overseas travel insurance vertical due to restrictions imposed on international travel. A large number of Indians are now flying to the US, the UK, Canada, the UAE, and Schengen countries for leisure, business, and education purpose.
One of the leading insurance firms, Policybazaar has said bookings in the week starting from March 27 have increased by 25 percent as compared to the previous week. The online insurance platform expects that the number will grow in the coming months when air ticket prices will become stable and the holiday season begins.
