Silicon Valley insurtech VisitorsCoverage announces improved COVID-19 coverage and quarantine compensation to one of its bestselling travel medical insurance plans
Santa Clara, Calif. (Sept. 3, 2020) VisitorsCoverage, a Silicon Valley-based travel insurtech company today announced comprehensive COVID-19 coverage and a daily indemnity quarantine stipend to one of its most popular travel medical insurance plans, CoverAmerica-Gold. VisitorsCoverage was the first travel insurance company to provide free public COVID-19 screenings to its customers in June and has continued to innovate with expanded COVID-19 coverage that meets the needs of global travelers during this unprecedented pandemic.
“The response to our free public COVID-19 screenings was overwhelming,” says Rajeev Shrivastava, CEO and founder of Silicon Valley-based insurtech, VisitorsCoverage. “We knew that travel insurance products for COVID-19 needed to be fast-tracked by the underwriters so we could offer our customers policies that included therapeutics, hospitalization, mandatory quarantines, and repatriation.”
Only five or six months ago, coverage for pandemic related treatments and quarantines was unthinkable. While many insurers and resellers now offer COVID-related coverage, the benefits and exclusions vary widely and buyers need to review coverage benefits and exclusions carefully.
“The pandemic was a shock to the world, but especially the legacy travel insurance industry faced with creating quick solutions without the historic data for underwriting they typically rely on,” Shrivastava continues. “Creating coverage for COVID-19 was uncharted territory, the industry had to take bold steps and come up with solutions for covering COVID-19 treatment and screenings in weeks and months, not years.”
The travel industry’s recovery as a whole will be largely contingent on the ability of the travel insurance industry to offer products that provide safe and reliable medical coverage for travelers as the COVID-19 pandemic continues to unfold.