Kinsure - Emergency Worldwide Travel and Accomodation
UNIQUE INSURANCE PRODUCT TO TARGET FAR FLUNGERS Kinsure has just launched and is a new insurance product which has been designed for the ever expanding market of people who have family and friends living in a different country from them. Thought to be the first insurance product of its kind, Kinsure offers the policy holder cover for emergency travel back to their friends and family living in a different country should they suffer an accident or illness, or pass away. The new policies are available online www.kinsure.co.uk and premiums start from only £29.95 a year and can be extended to cover not only ‘close relatives’ – which includes immediate family, step family and ex-spouses* - but also any ‘additional persons’ that you choose to add on to the policy - distant relations, close friends and business associates. Emergency transfer and travel costs of up to £5000 are covered.Far flung family and friends are becoming a common feature in today’s society. People are living more peripatetic lives, moving thousands of miles away from where they were brought up for new jobs or just to make a fresh start – the far flungers. A recent survey** showed a staggered 75% of the respondents had family living abroad and over half (52.1%) had not considered what would happen should they fall ill or have a serious or fatal accident. 48.6% did admit that cost may be a really issue should this event arise. In 2006 alone more than 365,000 Britons moved overseas, bringing the total number of Britons living abroad to more than 5.5 million.*** This equates to one in ten of the UK population, and predicted figures suggest that another one million Britons will move abroad over the next five years. Kinsure aims to alleviate some of the stress during these difficult times by providing a 24 hour call centre, 365 days a year, so that policy holders can contact them at any time. This customer care centre will make all the arrangements for flights and accommodation, so the policy holder does not have deal with any of these arrangements and payments. Kinsure is the brainchild of Jeremy Coll, who set up the company following a family emergency of his own. Jeremy’s parents-in-law have lived in Spain for over 15 years and in July 2005 his father-in-law had a severe car accident and was hospitalised for 10 days. Jeremy and his wife Claire flew over from the UK immediately and booked into the nearest hotel to the hospital which was in Malaga (approximately 70 kms from where his parents in law lived). Fortunatley everything turned out to be fine but the problems of finding flights and accomodation and the unexpected cost of over £1,000 started the ball rolling forJeremy setting up Kinsure. The policies are relevant to a worldwide audience, but Kinsure is focusing on the UK market for the launch. “There are a number of insurance policies which flirt with the ‘far flung’ market, but from our research none of these delivers such a specialist and comprehensive cover and service as Kinsure,” said Coll. “People often don’t realise that they are not covered for the type of circumstances which Kinsure is geared up to deliver cover for. They wrongly assume that private medical insurance and travel policies are adequate,” continued Coll. Here are a few examples. Expatriates living abroad The majority of expatriates living abroad (unless it is a requirement of the country they are living in) rely upon the local medical network or pay for their medical needs. Neither of these offer any cover for potential personal emergencies at home or abroad.Businesses which have a widely dispersed workforce If the company provides employees with Private Medical Insurance (PMI) there are only a few insurers that offer cover to extend to compassionate emergency return. This will cover for the insured to return to their country of residence if a ‘close relative’ has a serious accident, illness or passes away.Therefore for the majority this leaves the insured (employee) with the hassle of arranging the travel and accommodation and the costs, or vice versa the company. In addition, this will rarely extend to the spouse or partner. Opposite to above – the insured or one of their family has a serious accident, illness or passes away there are no insurers that offer cover for ‘close relatives’ to go to them. For the majority this leaves the employee with with arranging details and the costs, or vice versa the company. If the close relatives purchase a Kinsure policy, cover is applicable. For the majority this leaves the employee with arranging details etc. and the costs or vice versa the company. Comparable Annual premiums Family (2 adults / 2 children ) Europe Worldwide Expatriate medical Insurance £2,500+ £5,000+ Kinsure£49.95 £89.95 –Statistics taken from/www.medibroker.com/premium.htmlGap year market working for a stint overseas or on a volunterring holiday If an emergency did happen most travel insurance policies inc