There was a time when vacationing meant taking a leisure holiday and relaxing in the sun. Now, adventure travel is the new trend among backpackers across the globe and Indians are active participants too. According to a research conducted by Thrillophilla.com in October 2018, more and more people in India are moving towards unconventional travelling. The survey revealed that adventure tourism and activity travel market is estimated to grow at a CAGR of 17.4% from 2017 to 2023 in India. There was a 42% increase in the popularity of high altitude regions among adventure travellers over the past 3 years.
Interestingly, 27 per cent people said that they were interested in travelling to the Himalayas for an offbeat experience. The number of solo travellers also increased by 18%. The study revealed that adventure travel is more popular among people aged below 35, while most of the people aged above 35 still prefer conventional travelling.
As much thrill as adventure travel brings, there is always risk involved. This is where travel insurance comes into play and can provide the much-needed financial security.
Heena J Akhtar, Co- Founder, TripXOXO told Zee Business Online that the Indian travelers, especially solo travelers and millennials, are opting for thrilling adventure trips and to avoid the uncertain situations on their trips some are opting for Travel Insurance. This type of insurance helps to deal with many unwanted situations like flight delays, loss of documents, accidents, among others.
“The concept of travel insurance will assist to get the benefits on various things like flight delays, baggage loss, loss of important documents and hospitalization. As summer vacation is just around the corner patrons are looking for best deals on things to do activities across the world like Bungee Jumping, Kayaking, River Rafting, Banana Boat ride to beat off the heat,” Akhtar added.
Subramanyam Brahmajosyula, Head Underwriting and Reinsurance, SBI General Insurance further explained that medical emergencies can strike at the least expected time.
“The situation becomes even more stressful when such emergencies happen when you are overseas. The high cost of medical treatment as well as unfamiliarity with health care systems and facilities in other countries are added hurdles. SBI General’s travel insurance policy is available which will not only take care of the cost of medical treatment overseas but also other losses such as loss of passport, loss of checked in baggage and trip cancellation or curtailment. As Indians are increasingly travelling more both within the country and abroad, we have witnessed a significant increase in interest levels for this product,” Brahmajosyula added.