Travel TechnologyKlook and ZA Tech partner in first-of-its-kind collaboration to provide travel insurance products online.

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Klook and ZA Tech Enter Partnership in Multiple Markets (From left: Young Yang, General Manager of ZA Tech Southeast Asia, and C.S. Soong, VP, Corporate Development at Klook)
Klook and ZA Tech Enter Partnership in Multiple Markets (From left: Young Yang, General Manager of ZA Tech Southeast Asia, and C.S. Soong, VP, Corporate Development at Klook) Photo Credit: Photo courtesy of Klook and ZA Tech

Klook has announced a joint venture with ZA Tech to enable users access to a range of travel-related insurance policies on Klook’s travel and leisure booking platform.

Klook leverages ZA Tech’s experience in insurance innovation via their proprietary solution, Fusion, to create a seamless digital user experience for travellers and industry partners. To kick-start the partnership, Klook will offer insurance products from the first two insurers, AXA and Chubb, by end-2021, with a focus on Asia Pacific.

Said C.S. Soong, VP, Corporate Development at Klook: “This is the first time any travel player will be rolling out a full suite of travel-related insurance on a multi-market level. With this, we can further simplify customers’ travel journey, enabling them to discover, book and purchase all they need during their travels from travel-related insurance to experiences.”

The ongoing Covid-19 pandemic is expected to boost demand for travel insurance once travel restarts. The global market for travel insurance was estimated to be US$21.5 billion in 2020 and is now projected to reach US$33.7 billion by 2027, according to a report on Global Travel Insurance Industry (2020 to 2027) by Research & Markets.

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