Zurich Insurance Malaysia Unveils New Suite of Travel Insurance

Presenting Z-Corporate Travel & Z-Travel (Domestic/Inbound) Insurance for both Leisure and Business travelers

Business travelers and vacationers are able to travel with complete peace of mind with these products as they have been attractively packaged and designed as comprehensive insurance protection plans suitable for anyone travelling locally or abroad.

Introducing the company’s latest products at the launch, President of General Insurance, Zurich Insurance Malaysia, Mr. Sia Chon Ming said that these new selection of travel insurances come at a time where there is a significant rise in the frequency of travel as well as the increasing number of Malaysians going for trips abroad.

“The total market for travel insurance business in Malaysia is in excess of USD100 million. Total number of outbound departures in Malaysia in 2011 amounted to 46 million trips with an average growth of three percent in the past three years. Meanwhile the number of inbound arrivals in Malaysia in 2011 was approximately 24 million trips with an average growth of 0.6 percent in the past three years. The premiums available will easily double or even triple in the next five years from USD100million. These encouraging signals from the market have accorded us with plenty of reasons to provide comprehensive travel insurance protection for our customers,” said Mr. Sia Chon Ming during his opening speech.

Z-Corporate Travel is an annual policy specially created for corporate companies, business association and organisations to provide travel insurance cover for their employees. Corporate entities with a number of executives travelling frequently for business trips either internationally or domestically may opt to purchase this policy for complete protection from the potential risks of business travelling.

From as low as RM235 per year and with a minimum of one employee per company, this flexible and customizable insurance plan offers an unlimited number of trips per year with a maximum number of 182 days per trip. Premium varies depending on geographical areas of coverage. In addition to the normal travel-related inconveniences, this insurance plan also covers personal accident, death or permanent total disablement, medical, surgical and hospitalization and personal liability amongst others. The plan also offers a special extension covering leisure travel before, during or after a business trip.

Its unique product features which distinguishes itself from other similar plans in the market are its accidental death benefit due to natural catastrophe or due to gunshot, comatose state benefit, mobility assistance benefit, physiotherapy treatments, alternative employee or resumption of assignment benefit, key employee recruitment fees and bail bond arrangements benefits.

“Zurich Insurance Malaysia is one of the very few insurers that offer an annual plan for travel insurance. Employers will find our Z-Corporate Travel a very comprehensive, practical and economical insurance coverage for their executives criss-crossing the globe. We have benchmarked ourselves with the best available products in the market and have ensured that our product is equal or better than the rest. We have also managed to price them quite competitively thus ensuring the best value for money for our customers,” added Mr. Sia.

Z-Travel (Domestic/Inbound) Insurance on the other hand offers a simple and flexible insurance coverage for Malaysians or tourists who plan to travel within Malaysia with a protection period of up to 60 days per trip. With a minimum premium of RM20, this plan is perfect for those wanting to discover Malaysia by means of local tours, island trips and many other exciting adventures.

Basic features of Z-Travel (Domestic/Inbound) Insurance includes accidental death and permanent disablement benefit of up to a maximum of RM200,000 Principal Sum Insured, medical expenses benefit and others. Customers may also select Z-Travel Optional Cover and Premium benefits which comprises of journey cancellation, baggage delay (by flight only), evacuation and repatriation, personal liability, as well as golf equipment benefit for an additional premium of RM30.

“Today, travel insurance is not limited to trip related coverage but caters to a host of other benefits as well. In line with our customer centric approach and the company’s long-term plans to create a complete suite of travel insurance products, our Z-Travel (Domestic/Inbound) Insurance is one of our comprehensive solutions for trip related coverage along with medical and other value added benefits. In the event of any emergency, our policyholders will able to access Zurich’s Travel Assistance via our 24/7 hotline for medical and travel assistance,” explained Mr. Sia

For more information on Z-Corporate Travel and Z-Travel (Domestic/Inbound) Insurance, customers may contact their servicing agent or Zurich’s Call Centre at 1-300-888-622.