Safe Travels Ahead: ICICI Lombard's Insights into Indian Travellers

Safe Travels Ahead: ICICI Lombard's Insights into Indian Travellers

By Author

Published on October 2, 2023

ICICI Lombard General Insurance marked World Tourism Day by releasing an insightful consumer study report titled "Research on Travel Behaviours 2023." This report provides valuable insights into the changing landscape of travel insurance and the preferences of Indian travellers.

The study delves into the international travel habits of Indians and unveils some noteworthy findings. It reveals that a remarkable 76% of Indian travellers purchased travel insurance for their most recent trip, and an impressive 92% expressed their intent to acquire it for their next journey. This surge in interest highlights the growing awareness of the need to protect travel experiences. Furthermore, the report indicates that awareness of travel insurance increases as individuals progress through different stages of family life. Notably, married couples with children are the most likely group to purchase travel insurance, with a substantial 78% opting for coverage, followed by married couples without children at 67%, and singles at 66%.

The study takes a deep dive into the mindset of Indian travellers, shedding light on their unique preferences, awareness levels, and behaviours within various customer categories: families, couples, and singles. By conducting this research, ICICI Lombard identifies the challenges associated with organising and executing international travel, unmet needs, and potential solutions that could shape the future of travel insurance in India.

Sheena Kapoor, Head of Marketing, Corporate Communications & CSR at ICICI Lombard, commented on the findings, stating, "These statistics underscore a growing consciousness among travellers to safeguard their travel experiences and protect themselves against unforeseen events. It is indeed encouraging to see that travel insurance is no longer an afterthought but a proactive choice for a majority of respondents. Additionally, the correlation between family stages and travel insurance awareness is a noteworthy discovery, demonstrating that individuals are increasingly recognizing the importance of securing their travel plans, particularly as they progress through various life stages."

The report also highlights interesting trends in travel behaviour. For instance, respondents with children are more inclined to take multiple trips in a year. The middle-aged group, comprising 61% of individuals, tends to embark on two or more trips annually, while this percentage drops to one in three for those aged 45 and above. Respondents who travel once a year typically have slightly longer trips, averaging around 13-14 days, whereas those taking two or more trips average around 11-12 days for their most recent journey.

The study also addresses challenges faced during international travel planning. Among the key findings, customers who are married without children appear to encounter the most challenges in their travel planning, with 48% reporting issues. The younger age group faces significant problems during visa applications and finalising bookings, while the middle age group struggles with airline reservations and coordinating logistics between cities. Travel insurance issues were the least common among both age groups.

Awareness of travel insurance varies depending on how travel is booked. Customers who book through intermediaries tend to have the lowest awareness of travel insurance. However, among those with the highest awareness levels, the purchase of travel insurance increases significantly. For international trips, three out of four respondents (75%) purchased travel insurance for their most recent journey.

The top three factors motivating individuals to purchase travel insurance are safety and financial protection (28%), coverage and claim limits (18%), and the chosen travel destination (16%). Interestingly, the highest level of difficulty in purchasing travel insurance is encountered when the insurance booking is done by someone else, with 80% of respondents reporting difficulties.

Looking ahead, Southeast Asia (47%) and the Middle East (40%) stand out as the top choices for travel destinations among respondents for their upcoming international trips. Notably, 92% of respondents plan to buy travel insurance for their next international journey, with the inclination to acquire travel insurance rising with different family stages: couples with kids (94%), couples without kids (92%), and singles (87%).

ICICI Lombard's report provides valuable insights into the evolving landscape of travel insurance in India, emphasising the increasing importance of protecting travel experiences and the diverse preferences of Indian travellers. As international travel continues to grow, so does the need for comprehensive travel insurance, ensuring that travellers can explore the world with peace of mind.


Over 1 Crore Tourists Visit Jammu and Kashmir Till June 2024

Over 1 Crore Tourists Visit Jammu and Kashmir Till June 2024

By Nithyakala Neelakandan

Published on July 27, 2024

The Centre has announced that over one crore tourists visited Jammu and Kashmir (J&K) from January to June 2024. The region has seen remarkable growth in tourism, particularly following the abrogation of Article 370.

Minister of State for Home Affairs, Nityanand Rai, highlighted the steady rise in tourist numbers over the past few years. In 2020, J&K welcomed 34,70,834 tourists. This number surged to 1,13,14,884 in 2021 and 1,88,64,332 in 2022. Last year, the region saw 2,11,24,874 visitors, and as of June this year, 1,08,41,009 tourists have already explored the Union Territory.

Several strategic measures have been credited for this significant improvement in J&K’s tourism sector. The implementation of the Tourism Policy 2020 and the status of industry granted to the tourism sector under the Jammu and Kashmir Industrial Policy 2021 have played pivotal roles. These policies have provided various incentives, encouraging the growth of the tourism industry.

The improvement in the law and order situation has also contributed to the tourism boom. This resurgence has positively impacted the livelihoods of thousands of people connected to the tourism industry, both directly and indirectly.

To accommodate the increasing influx of tourists, the government introduced homestay guidelines, benefiting both visitors and local residents economically. Additionally, the Jammu and Kashmir Film Policy-2021 and Houseboat Policy-2020 have been significant in promoting the region as a tourist hotspot.

The government has identified 75 off-beat destinations to diversify tourism offerings. Notably, border tourism has gained traction, with previously lesser-known areas like Gurez, Keran, Teetwal, and R.S. Pura opening up to tourists. Adventure and golf tourism are also emerging sectors in J&K.

Jammu and Kashmir is increasingly being recognized as an international tourist destination. The successful hosting of major events, such as the 3rd G-20 Tourism Working Group Meeting, has enhanced the region's global profile.

The development of modern infrastructure, including luxury hotels and resorts, positions J&K as an attractive location for destination weddings and MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism.

The tourism sector's contribution to the Gross State Domestic Product (GSDP) has grown from 7.84% in the financial year 2019-20 to 8.47% in 2022-23. Over the past three years, the sector has recorded an annual average growth rate of 15.13%.


"Unplugged Season 4" Lights Up Pacific Mall NSP Pitampura with Musical Talent

"Unplugged Season 4" Lights Up Pacific Mall NSP Pitampura with Musical Talent

By Nithyakala Neelakandan

Published on July 26, 2024

Pacific Mall NSP Pitampura recently hosted the much-anticipated “Unplugged Season 4,” a musical extravaganza that brought together a wide array of talent across Solo, Duo, and Group categories. Musicians captivated the audience with their performances on various instruments, including guitars and drums. The event featured an eclectic mix of English and Hindi songs, along with original compositions covering genres such as Rock, Jazz, Blues, Fusion/Indie-Fusion, and classical music.

The evening kicked off with electrifying performances from bands like Darjeeling 2 Delhi, Sadgi, Gymick, Young Blood, Spirits of Music, and Flying Soul. Each act brought its unique energy and style to the stage, making it a night to remember. Sadgi emerged as the first prize winner, followed by Darjeeling 2 Delhi in second place, and Young Blood securing third place. The participants showcased a range of musical talents, from soulful classic rock covers to innovative jazz improvisations. The audience was treated to dazzling guitar solos, powerful drum beats, and emotive vocals that filled the mall with an infectious energy.

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Abhishek Bansal, Executive Director of Pacific Group, expressed his delight with the event, stating, “This year's Unplugged Season 4 was a testament to the incredible musical talent present in our community. Each participant brought a unique flavor to the stage, making it a memorable evening for everyone involved. After this year's successful event, we wish to organize more such enriching events in the future.”

The event was a vibrant celebration of music, culture, and community, reinforcing Pacific Mall NSP Pitampura’s commitment to providing a platform for local talent. With plans for future events already in motion, “Unplugged Season 4” has set a high standard and left a lasting impression on all who attended.


Union Budget 2024: Major Push for Spiritual and Tourism Development

Union Budget 2024: Major Push for Spiritual and Tourism Development

By Nishang Narayan

Published on July 24, 2024

The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, highlights a strategic plan to establish India as a leading global travel destination. The budget outlines several key initiatives aimed at enhancing tourism across the country.

Key Highlights:

  • Development of Spiritual Sites: The government will focus on major spiritual destinations such as Bodh Gaya, Rajgir, Nalanda, and Vishnupada in Bihar. This includes significant upgrades to enhance their appeal as major pilgrimage and tourist sites.

  • Promotion of Cruise and Beach Tourism: A simpler tax regime for foreign cruise companies will be introduced to encourage domestic cruise operations. Additionally, there will be improvements in beach destinations to attract more visitors.

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  • Special Focus on Bihar and Odisha:

    • Bihar: Extensive development plans include enhancing Bodh Gaya’s pilgrimage significance, upgrading Rajgir’s religious and wellness tourism, and revitalizing Nalanda as a cultural and educational center.

    • Odisha: The state will be promoted for its potential in religious and beach tourism.

  • Infrastructure and Economic Growth: The budget includes robust allocations for capital expenditure, aiming to boost infrastructure and create substantial employment opportunities.

The Union Budget 2024-25 sets a clear vision for advancing India’s tourism sector through targeted investments in spiritual and cultural sites, infrastructure enhancements, and promotion of various tourism segments. These initiatives are expected to significantly boost tourism, create jobs, and stimulate local economies, reinforcing India’s position as a global travel destination.

Image Credits: Livemint, News18 

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