Hong Kong’s livi Bank Introduces App-based Travel Now Insurance Plan

livi bank, Hong Kong’s lifestyle-driven virtual bank, is launching Travel Now, a simple and easy-to-apply travel insurance plan “to meet the needs of its Hong Kong customers as they decide to travel amid the relaxation of COVID-19 quarantine rules.”

This is livi’s first general insurance offering “as it expands its product offers to meet its customers’ lifestyle needs.”

livi Chief Product Officer Carol Hung said:

“With the easing of quarantine measures, our customers are excited about travelling and planning new adventures, although we understand they have concerns about being impacted by changes in immigration and quarantine rules. The Travel Now Insurance Plan is designed to ensure they can set off on their next trip with peace of mind and enjoy their holiday,”

Carol Hung added:

“The options of Travel Lite and Travel Plus address customer concerns and uncertainties about the COVID-19 situation, and we make the whole process fast and convenient via the livi App. We are also delighted to bring another simple, transparent and reliable livi customer experience to the local insurance market together with BOCG Insurance as we expand our product range to general insurance.”

Travel Now takes care of customers’ top travel concerns through the simplicity of the livi App:

  • Plan covers medical expenses, trip cancellations and interruptions due to sickness, including COVID, so customers can enjoy travelling worry-free even during times of uncertainty.
  • Protection on hazardous activities and car rental gives customers added comfort as they pursue their excitement and passions.
  • Comprehensive coverage provided on personal belongings, as well as liability cover, keeps our customers’ important lifelines protected.
  • And loved ones are also being taken care of with free premium for children (from the second child onwards) and unique complimentary pet-related protection.

The debut travel insurance plan “offered through livi provides two levels of tailored protection to address the concerns about changing local and overseas immigration and quarantine rules.”

Travel Lite and Travel Plus “provide comprehensive coverage to meet customers’ need for peace of mind – with premiums from as low as HK$9 per day under the 35% discount offer” from now till 31 December 2022:

Travel Lite offers an extensive range of benefits including:

  • Double Indemnity of Personal Accident up to HK$ 2.4 million
  • Protection for dangerous activities, including bungee jumping, parachuting, rafting, diving, trekking and hot-air ballooning, etc.
  • Protection for Outbound Travel Alert (OTA) – delay of the scheduled departure,
    curtailment, or cancellation
  • Protection for car rental
  • Emergency Assistance Services and Benefits – emergency medical services, deposit guaranteeing of hospital admission and medical evacuation
  • Student Study Cover – extend cover for unmarried full-time students
  • Pet protection – up to HK$400 per night for a pet to stay at a pet hotel due to travel delay for more than 24 hours

Travel Plus offers extended protection on Enhanced Benefits and Cruise Benefits:

  • Enhanced Benefits include cash allowance covering compulsory quarantine# and
    issuance of “Black Alert”, personal computer and mobile phone cover and severe incident
    extended cover if travel is delayed.
  • Optional additional Cruise Benefits will cover travelers should their cruise be cancelled,
    interrupted or curtailed, as well as shore excursion cancellation allowances, satellite
    phone expenses and cover for other eventualities.
  • Getting the comprehensive coverage customers want for their journey is simple and straightforward, with just a few taps via the livi App. Customers simply go to “livi Travel Now” page, select “Destination”, provide details of who is travelling and the duration of the trip and select the Travel Lite or Travel Plus plan.

The Plan is “underwritten by BOC Group Insurance Company Limited, an affiliate of livi’s major shareholder BOC Hong Kong (Holdings) (‘BOCHKH’).”

This is the second time that livi is “collaborating with an affiliate of BOCHKH for insurance offerings.” The partnership with BOCG Insurance “underscores livi’s strategy of leveraging its shareholder ecosystem to  enrich the customer experience.”

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