28 March 2008

WAYN.com introduces travel insurance deal

Social networking site WAYN.com is offering subscribers free travel insurance.

The UK site, which claims a membership base of more than 11 million and over six million unique visitors per month, will give European annual multi-trip insurance to its VIP members, who currently pay Ã&#pound;3.99 a month for 12 monthsÃ¢â¬â¢ enhanced membership. For that they also receive free SMS and a priority online presence.

The site has teamed up with Mondial Assistance and for non-VIP members WAYN insurance packages are available with single trip cover within Europe from under Ã&#pound;6. Annual multi-trip cover throughout Europe leads in at just under Ã&#pound;24.

Following the UK introduction, WAYN insurance will now be added across Western Europe, North America and Australasia.

Director of business development at WAYN.com Matt Jerwood said: Ã¢â¬ÅâœOur users love travel and so we thought we should try to give a little back to those subscribing members whoÃ¢â¬â¢ve helped to make WAYN such a vibrant community. What better way than to help reduce travel stress by providing them with high quality insurance, for free?Ã¢â¬~

WAYN claims it is the first social networking site to offer free travel insurance and itÃ¢â¬â¢s certainly a clever move Ã¢â¬' it says that by providing one of the lowest price insurance offerings in the market; its aim is to feature at the top of results presented on leading search aggregatorsÃ¢â¬â¢ and price comparison websites, for both single-trip and multi-trip travel insurance products Ã¢â¬' a further traffic driver.

The site says traffic has grown significantly since it opened up its interaction model to all members, with new registrations now up to 20,000 per day.

by Dinah Hatch

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Your Comments (4)

That's not my beef...

I have no doubt that the WAYN insurance is a fine policy - good value, good cover and backed by the best. As were the insurances that were once were sold by every travel agent, and which had a complaint ratio as near to zero as makes no difference. Of course the agents didn't underwrite the cover - any more than they flew customers' aeroplanes - they simply sold a product. But travel agents are no longer allowed to sell insurance (or won't be once the period of grace has expired) unless they are licensed by the FSA. No ifs, no buts, no selling. Of course, they can act as "introducers" and pass the names of potential customers to the likes of Mondial - but that is not what Annika Erskine is suggesting. In her own words, "...we are the brand name and can sell the insurance..." "Selling" implies that customer details are being collected, needs are being identified and recommendations are being made. That, in my book, is selling - even if the money is not being routed via WAYN's tills. So why are they allowed to sell insurance whereas highly-trained travel professionals are not? By the way, that is a rhetorical question; I consider it unlikely in the extreme that the FSA will condescend to reply - given their previous record of debate with our industry.

By Richard English, Thursday, April 3, 2008
WAYN Insurance - response

Hi, We'd like to take the opportunity to respond to this in brief. WAYN has been given 'appointed representative status'. This means that we are the brand name and can sell the insurance. But the products are provided by our partner in this, Mondial, who are experts in the insurance field. I would invite you to look into the VIP insurance offer. VIPs can indeed redeem annual european multi trip cover at no cost. We just felt we should speak up to clarify that we feel this is genuinely a quality offering. Thanks!

By annika erskine, Thursday, April 3, 2008
Travel insurance FSA "grey" guidelines?

I agree completely with Richard English. However there is a substantial difference. On WAYN travellers are allowed to purchase their own insurance at their own risk, if they haven't read the small print correctly or are not totally aware of the terminology used. Us, the responsible professionals, will continue to give the most honest advise to customers. I offer a "specimen only" of the insurance policy to my customers and invite them to shop around if they have to. So far honesty, clear explanations and simpler jargon has worked very well. This is where we make a difference. After all isn't customer focus and knowledge what the FSA insisted on?

By mariolina muoio, Saturday, March 29, 2008
Amazing - or what?

Is it not fascinating that travel agents have been virtually prevented by the FSA (you know - that watchdog that suggested that Northern Rock was a sound company) from selling travel insurance, even though they might be very well trained through the ABTA and ITT schemes. But WAYN, comprising as it does, a motley collection of the good, bad, and ugly, can sell (sorry - give to subscribers) that travel insurance that the professionals are not allowed to sell. Clearly I, being one who believes that training and competence are important, am on quite the wrong track.

By Richard English, Friday, March 28, 2008