Insurance is an essential, but often overlooked part of travel. Just as technology changed how we book and pay for travel, digital transformation is set to remove payment friction and alter the entire insurance process, improving the customer experience from purchasing a policy through to processing claims, issuing payouts and making reimbursements.

Insurance is an integral but underappreciated role in merging travel and fintech. Travel and financial industries are merging from both directions – banking giants and fintech providers are entering the travel space while travel providers are building or integrating fintech providers. These companies are going after the elusive opportunity to have the traveler’s entire journey, from making a booking to paying for the tickets, tours, meals, upgrades as well as booking travel insurance.