Chubb's Travel Survey Reveals Four Leisure Travel Trends

SINGAPORE, May 20, 2016 /PRNewswire/ -- Chubb today revealed four trends pertaining to leisure travel in Singapore. From November to December last year, 1,998 Singapore travellers participated in an online survey conducted by Chubb Travel Insurance. Their responses uncovered the following insights:

1. Seventy-nine percent of Singapore respondents travelled twice a year or more, across all ages and gender.
   - Singapore travellers continued to be avid travellers despite the slowing economy during the last quarter of the year. Although this was a mere 2% drop from a similar survey done in 2014, it reinforced the fact that Singapore travellers have a large appetite for vacations overseas. The additional public holiday from the SG50 celebration also had a part to play.
2. Their vacations overseas have not been totally incident-free as 80% of the respondents had experienced a travel mishap, up from 75% in 2014.
   - Flight delays continued to occupy the top spot. Falling ill was the next most common incident, followed by trip postponement or cancellation.
3. The survey respondents also indicated that theft (52%) was their top travel fear, followed by being injured in an accident (44%) and then loss or delay of luggage (43%).
   - It appears to be a trend for younger respondents (those less than 30 years old) to be most worried about travel inconvenience such as theft and loss or delay of luggage. This is in contrast to the older respondents of 40 years and above, who were worried most about suffering an injury and falling ill. This is a similar finding in the 2014's survey results.
4. Thirty percent of the survey respondents have travelled without insurance but wish they hadn't.
   - This is an increase from 23% last year.

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"With the proliferation of mobile devices in a highly connected society such as Singapore, it is not surprising that 88 percent of the respondents would frequently book their leisure trips online while 72% would purchase their travel insurance online. What is disturbing is that close to 30% of the survey respondents have travelled without insurance but wish they hadn't. We delved further and found that half of them travelled thrice or more in a year, incurring a higher exposure to travel mishaps without the safety net provided by travel insurance. The findings reinforce our push to educate consumers on the benefits of travel insurance and also provide useful tips to help our customers travel smarter and be better prepared for their trips," said Greg Dodds, Country President of Chubb Insurance Singapore Limited.

Jon Ford, Vice President & Regional Head of Travel, Asia Pacific for Chubb, commented, "We are constantly seeking to understand Singapore travellers' attitudes towards travel insurance and their motivation for purchase. As a responsible insurer, we also want to identify potential travel mishaps that they are likely to encounter so that we can tailor our travel insurance product to provide relevant and timely coverage. By conducting surveys, coupled with an innovative approach to product development and testing, we are committed to meeting the evolving needs of today's consumers."

Click here for an infographics of the key survey findings.

With the upcoming June holidays, travel is expected to peak. Travel Smarter by being better prepared. Check out the Chubb Travel Insurance website - www.chubbtravelinsurance.com.sg before you leave for your holidays.

About Chubb Travel Insurance

Chubb Travel Insurance is a global leader in the provision of travel insurance products and services, covering millions of travellers around the world. Coverage can range from reimbursement or direct payment of medical expenses incurred overseas, to travel inconveniences such as trip cancellation, flight or baggage delay, coverage for terrorism-related events and more. This year, we will service and pay claims for over 100,000 travel insurance customers across the Asia Pacific region.

With access to 24-hour emergency assistance services, customers are able to seek assistance and advice on any travel mishap with just a simple phone call. When you are Chubb insured, you can pack your peace of mind wherever you go.

About Chubb in Singapore

Chubb is the world's largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.new.chubb.com.

Chubb Insurance Singapore Limited, via acquisitions by its predecessor companies, has been present in Singapore since 1948. Chubb in Singapore provides risk management and underwriting expertise for all major classes of general insurance, including Property & Casualty, Marine, Liability, Financial Lines and Group Personal Accident insurance. As one of the leading providers of Accident & Health insurance through direct marketing, the company partners with financial institutions and other companies to tailor individual policies for their clients and employees. In addition, it offers a suite of customized Personal & Specialty insurance solutions to meet the needs of consumers.

Over the years, Chubb in Singapore has established strong client relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength. The company has been assigned a financial strength rating of AA-/Negative and the highest ASEAN credit rating of axAAA by Standard & Poor's. It has also been awarded the Singapore Quality Class STAR (SQC STAR) and Singapore Service Class (S-Class) certification for achieving all-round business excellence and high levels of service respectively by SPRING Singapore, the national standards and accreditation body.

More information can be found at www.chubb.com/sg.