Travel booking platform Klook has formed a joint venture with ZA Tech Global, the technology venture founded by ZA International, that will accelerate the availability and accessibility of travel-related insurance to consumers across the globe.
The agreement will synergise Klook’s global presence and hyper-localised go-to-market strategy, alongside ZA Tech’s experience in insurance innovation and technological know-how.
From left: ZA Tech’s Young Yang and Klook’s C.S. Soong sign partnership that will enable global consumers to purchase digital travel insurance products seamlessly
With this joint venture, insurers will be able to partner with Klook to feature their insurance products on the platform. The agreement will see Klook work closely with insurers to design products that address the pain points of consumers in this new normal.
Klook will partner with insurers AXA and Chubb to kickstart travel-related insurance products on its platform by the end of this year, with a focus on the Asia-Pacific region.
ZA Tech will export its proprietary solution Fusion to Klook’s platform to create a seamless digital experience for travellers and the ecosystem partners; while Klook will leverage ZA Tech’s customer insights to various markets to strengthen product innovation, customer engagement and increase insurance penetration.
“The pandemic has changed the way we travel, with customers demanding increased assurance when they travel once cross-border travel resumes,” said C.S. Soong, vice president, corporate development at Klook.
“We are excited about this milestone partnership with ZA Tech, as 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.”
Young Yang, general manager of ZA Tech Southeast Asia, added: “Travel is a journey to explore and we want to make customers’ every step count with insurance protection. To that end, we are inspired to embed insurance in customers’ travel experience with ZA Tech’s insurtech innovation and enable the broader community to get insured.”
Travel booking platform Klook has formed a joint venture with ZA Tech Global, the technology venture founded by ZA International, that will accelerate the availability and accessibility of travel-related insurance to consumers across the globe.
The agreement will synergise Klook’s global presence and hyper-localised go-to-market strategy, alongside ZA Tech’s experience in insurance innovation and technological know-how.
With this joint venture, insurers will be able to partner with Klook to feature their insurance products on the platform. The agreement will see Klook work closely with insurers to design products that address the pain points of consumers in this new normal.
Klook will partner with insurers AXA and Chubb to kickstart travel-related insurance products on its platform by the end of this year, with a focus on the Asia-Pacific region.
ZA Tech will export its proprietary solution Fusion to Klook’s platform to create a seamless digital experience for travellers and the ecosystem partners; while Klook will leverage ZA Tech’s customer insights to various markets to strengthen product innovation, customer engagement and increase insurance penetration.
“The pandemic has changed the way we travel, with customers demanding increased assurance when they travel once cross-border travel resumes,” said C.S. Soong, vice president, corporate development at Klook.
“We are excited about this milestone partnership with ZA Tech, as 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.”
Young Yang, general manager of ZA Tech Southeast Asia, added: “Travel is a journey to explore and we want to make customers’ every step count with insurance protection. To that end, we are inspired to embed insurance in customers’ travel experience with ZA Tech’s insurtech innovation and enable the broader community to get insured.”