Your Travellers Choice Travel Insurance

March 2016

Travellers Choice Travel insurance

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1. Travellers Choice Travel Insurance

2. Travellers Choice Customer Experience

3. Our commitment

4. What's next

5. Q & A session

Travellers Choice Travel Insurance

Cover-More wants to change the way your customers think about travel insurance We have spent significant time with agents and your customers nationally developing this new product. We have designed a product that will deliver

• quality products backed by superior service

• greater returns for your business • streamlined processes and systems for ease of use.

A new way of looking at travel insurance

We are making some exciting changes to your two core travel insurance products. We have made key changes: • Simplifying the product benefits without reducing cover

• Redesigning the product value proposition for Travellers Choice customers

• Deliver compelling value at point of sales that streamlines the consultant and

customer experience

New product

NEW Comprehensive Care and Global Medical and Cancellation Products

Comprehensive Care

Comprehensive Care product

Plans available on the new Comprehensive Care product are: • International • Domestic • Domestic Cancellation

Comprehensive product old benefits table

Here you can see the old benefits table with 16

benefits.

There are only 2 plans available International

and Domestic.

Comprehensive Care new simplified benefits table

With Comprehensive Care there are now 10 new simplified policy benefits. Comprehensive Care includes International as well as both Domestic and the Domestic Cancellation Plans

Simplifying benefits without reducing cover

What has changed? Details

Comprehensive Care Product

Benefit 1 - Overseas medical and dental expenses • Now includes: - All health related emergency accommodation and transport - Hospital incidentals - Resumption of Journey

Benefit 2 – Emergency accommodation and transport

• Now includes: - All non-medical/dental related events - Special events benefit

Benefit 3 - Amendment or cancellation costs • Unchanged

Benefit 4 - Travel delay essentials • Now includes: - Travel delay - Delayed luggage

Benefit 5 - Luggage, travel documents and money • Now includes: - Introduction of coverage for Mobile Phones - New separate item of $750 - Money benefit

Benefit 6 - Rental Car Insurance Excess • Now includes: - Increase limit to $10,000 - Remove the requirement for an add-on

Benefit 7- Loss of income • Unchanged

Benefit 8 - Disability and Accidental • Now includes: - Disability - Accidental Death

Benefit 9 - Transport hijacking • Unchanged

Benefit 10 - Personal liability • Unchanged

BENEFIT 1: OVERSEAS MEDICAL

AND DENTAL EXPENSES

Limit per adult INTERNATIONAL PLAN - $Unlimited DOMESTIC PLAN - $10,000 DOMESTIC CANCELLATION – Cover Chosen The Overseas medical and dental expenses benefit has been simplified. It now includes cover for: • All Health related emergency accommodation

and transport • Hospital incidentals • Resumption of Journey

BENEFIT 2: EMERGENCY

ACCOMMODATION AND TRANSPORT

Limit per adult INTERNATIONAL PLAN - $20,000 DOMESTIC PLAN - $10,000 DOMESTIC CANCELLATION – Cover Chosen The Emergency and accommodation benefit replaces the Additional Expenses benefit and combines: • Non-medical or dental related additional

expenses • special events

BENEFIT 3: AMENDMENT AND

CANCELLATION Limit per adult INTERNATIONAL PLAN - $3,000 or $Unlimited DOMESTIC PLAN - $10,000 DOMESTIC CANCELLATION – Cover Chosen Cancellation NOW per person i.e. four Adults x $3,000 cancellation increment will be recognised on one policy as $12,000 Plan is Limit per adult and Cover chosen.

BENEFIT 4: TRAVEL DELAY ESSENTIALS

Introducing Travel delay essentials.

This new benefit now includes:

• Travel delay

• Delayed luggage

These were previously two separate

benefits on the old product.

Limit per adult INTERNATIONAL PLAN - Travel delay $2,000 - Delayed luggage $,1000

This new benefit now includes: • Travel delay • Delayed luggage

These were previously two separate benefits on the old product. DOMESTIC PLAN - Travel delay $750

BENEFIT 5: LUGGAGE TRAVEL

DOCUMENTS AND MONEY Increase on

the item limit

for mobile

phones from

$500 to $750.

New for old

replacement

for items less

than 2 yeas

old.

The Luggage, travel documents and money benefit has been streamlined. Now includes the • Money benefit within this benefit. • NEW inclusion of Mobile Phone separately at $750 Item limits for Cameras, Videos and individual items remains unchanged.

NOW INCLUDES - NEW FOR OLD

NO depreciation for items under 2 years old

BENEFIT 6: RENTAL CAR INSURANCE

EXCESS

Limit per adult INTERNATIONAL PLAN - $10,000 DOMESTIC - $4,000 The Rental Car Insurance Excess • Increased cover limit for the International Plan • Increased to $10,000 • Removed the need an additional add-on

BENEFIT 7: LOSS OF INCOME

Limit per adult INTERNATIONAL PLAN - $9,000 DOMESTIC - $1,500 The Loss of income benefit cover and limit per adult remain unchanged.

BENEFIT 8: DISABILITY AND

ACCIDENTAL DEATH

Limit per adult INTERNATIONAL PLAN - $25,000 DOMESTIC PLAN - $10,000 The Disability and Accidental death benefit is now has been combined under the new benefit These were previously separate benefits. The plan limits per adult remain unchanged.

OTHER ESSENTIALS TO PROTECT YOU

Limit per adult INTERNATIONAL PLAN - $8,000 The Transport hijacking benefit is now benefit 9. Item limit has not changed

Limit per adult INTERNATIONAL PLAN - $2,500,000 The Personal liability benefit is now benefit 10. Item limit has not changed

Introducing Travel delay essentials.

This new benefit now includes:

• Travel delay

• Delayed luggage

These were previously two separate

benefits on the old product.

Snow Sports cover is now included as part of the Comprehensive Care product Removed as an add-on and there is no additional charge

SNOW SPORTS

MOTORCYCLE/MOPED COVER

Motorcycle/moped cover is free of charge for valid Australian motorcycle licence holders “Your policy automatically includes cover for motorcycle or moped riding: if whilst in control of a motorcycle or moped You hold a valid Australian motorcycle licence” If you do not hold a Australian motorcycle licence the charge remains $25 per person

Global Medical and Cancellation

Global Medical and Cancellation product

Plans available on the new Global Medical and Cancellation product are: • International • Inbound

Basic product old benefits table

Here you can see the old benefits table with 11 benefits. There are two plans available International and Domestic Cancellation

Here you can see the old benefits table with 11 benefits. There are 2 plans available • International • Domestic Alternative

Global Medical and Cancellation new benefits table

Have asked Roni for high res images for this

With Global Medical and Cancellation there are now 4 new simplified policy benefits. There are two plans available International and inbound

With Global Medical and Cancellation there are now 4 new simplified policy benefits. There are 2 plans available • International • Inbound

What has changed? Details

Global Medical and Cancellation Product

Product name change • Basic is now called Global Medical and Cancellation

Plans available • International and Inbound

Simplified Benefits Table

• Benefit 1 - Overseas medical and dental expenses • Benefit 2 - Emergency accommodation and transport • Benefit 3 - Amendment or cancellation costs • Benefit 4 – Medical and dental expenses in Australia

Cancellation cover • Customers have a choice of $0 or $3,000 for cancellation cover. • Unlimited cover is no longer available.

Summary of changes

BENEFIT 1: OVERSEAS MEDICAL

AND DENTAL EXPENSES

Limit per adult INTERNATIONAL PLAN - $Unlimited INBOUND - $Unlimited The Overseas medical and dental expenses benefit has been simplified. It now includes cover for: • Health related emergency accommodation and

transport • Hospital incidentals These were individual benefits on the old product.

BENEFIT 2: EMERGENCY

ACCOMMODATION AND TRANSPORT

Limit per adult INTERNATIONAL PLAN - $10,000 INBOUND - $10,000 The Emergency and accommodation benefit replaces the Additional Expenses benefit and combines: • Non-medical or dental related additional

expenses

BENEFIT 3: AMENDMENT AND

CANCELLATION Limit per adult INTERNATIONAL PLAN - Choice of $0 or $3,000 INBOUND - Choice of $0 or $3,000 Cancellation NOW per person i.e. four Adults x $3,000 cancellation increment will be recognised on one policy as $12,000 The Amendment or Cancellation benefit has been modified and Customers can choose between $0 or $3,000 level of cover. If unlimited cover is required, customers should go onto the Comprehensive product

MEDICAL AND DENTAL

EXPENSES IN AUSTRALIA

Limit per adult INTERNATIONAL PLAN - $Nil Inbound - $1,000,000 Medical and dental expenses in Australia This benefit covers the customer for the usual and customary costs of medical and emergency treatment and ambulance transportation which is provided in Australia for Inbound travellers

New area structure

New area structure

We are introducing two new areas – the United Kingdom and New Zealand. The two new areas will apply for International Plans on both Comprehensive Care and Global Medical and Cancellation single trips. Because of reciprocal rights Australia has with UK and NZ, it means the risk associated with travellers going to those countries is reduced. The process of quoting insurance won’t change for you, the change is behind the scenes. What this will mean for your customers is a more competitive premium when travelling to the United Kingdom and New Zealand.

Cruising specific question in B2B

Increase on

the item limit

for mobile

phones from

$500 to $750.

New for old

replacement

for items less

than 2 yeas

old.

Cruise Question?

To enable the development of a cruise travel Insurance product we have included a cruise specific question

for data collection purposes only in B2B

Prior to finalising a policy there is a requirement to complete a ‘Yes’ or ‘No’ question

There is no additional premium charged and no change to policy coverage.

.

CRUISE SPECIFIC QUESTION IN B2B

Increase on

the item limit

for mobile

phones from

$500 to $750.

New for old

replacement

for items less

than 2 yeas

old.

.

CRUISE SPECIFIC QUESTION IN B2B

Our commitment

Our commitment

In the months ahead we will be providing you with personalised products and innovations that will benefit you and your customer. As the experts in travel you are central to creating a value proposition unique for Travellers Choice customers. We want to ensure your travel insurance, Travellers Choice Travel Insurance meets your business and your customer needs. We want to hear from you and submissions can be made by emailing myfeedback@covermore.com.au

What’s next?

What’s next?

Activity Date

Announcement to market of product launch 15 March 2016

PDS delivery will commence 15 March 2016

Reminder communication to close off all quotes 17 March 2016

GO LIVE with Travellers Choice Travel Insurance 23 March 2016

Questions?