Innovation Masters: How banks and insurance companies engage customers with travel apps

Digital Reinvention
07/03/2024 Article
profile picture of Boris Plantier

Boris Plantier


Head of Content

In today's fast-paced world of travel, insurance companies and banks are harnessing the power of technology to transform the way we explore the globe. Enter the era of travel apps, where convenience meets innovation in a seamless fusion of financial services and travel assistance. These apps, often called travel ecosystems, go beyond the traditional realm of banking and insurance, offering a comprehensive suite of features to streamline every aspect of the travel experience.

From itinerary planning and booking accommodation to providing real-time flight updates and currency conversion tools, these apps are a traveler's ultimate companion. They offer insights into local culture, cuisine and attractions, helping users immerse themselves fully in their destination. Moreover, with built-in emergency assistance features, travelers can feel secure knowing help is just a tap away in unforeseen circumstances.

For banks and insurance companies, these travel apps represent more than just a convenient tool for travelers. They present a unique opportunity to embed insurance or finance solutions directly into the travel experience. By integrating insurance coverage or financial services – such as travel insurance, foreign currency exchange or mobile payment options – banks and insurers can enhance their offerings and provide added value to their customers.

What sets these apps apart is their ability to accompany the traveler throughout their journey, offering personalized recommendations and tailored services based on individual preferences and travel history. By leveraging data analytics and artificial intelligence, they continuously evolve to meet the ever-changing needs of travelers, ensuring a smooth and enjoyable experience from start to finish.

Below is a selection of innovative travel-related projects submitted for the Qorus Innovation in Insurance Awards and the Qorus Banking Innovation Awards in recent years by Allianz Partners, Zurich and Cover-More, Fidelidade, Yapi Kredi, Discovery Bank, Kasikornbank, and Uniqa.

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