GlobalCollect and Triple IP have announced a strategic partnership that allows consumers who are booking holidays online to also organize and pay for travel cancellation insurance. Ê
The online travel booking market has grown rapidly in recent years. According to research companies, the market will reach EUR 21 billion by the end of this year in Europe, with additional growth expected to continue until the year 2010. Consumers who are booking their holidays and business trips over the Internet also want the option of insuring themselves against cancellation, interruption, delay, evacuation and so on. These online consumers would preferably pay for insurance directly after their travel has been booked and on the same internet website.
Triple IP (IIIP) offers a service to travel agencies and operators that can be added to their website’s travel booking functionalities and thereby provide extra revenue. Three widely-known airline companies are already using the Triple IP service and signing up on average, 200 insurance policies per day, consumers can immediately insure themselves locally wherever they live and pay for their insurance online in just a few clicks. This service currently offers insurance products from 17 countries. GlobalCollect makes it possible to pay in local currencies with credit cards or direct debits. In the near future, real-time bank transfers will also be available in countries where this payment method is popular (Nordic countries, Germany, Austria, Belgium, and the Netherlands).
Jan F. Manten, CEO of GlobalCollect said: “The partnership of GlobalCollect and Triple IP offers great advantages for both consumers and the travel agencies. The success of this partnership proves the benefits of GlobalCollect’s solutions for online travel companies”.
Bart Ploeger of IIIP added: “With GlobalCollect, we are sure that we enable online shoppers to pay the way they prefer and in a secure way. Outsourcing our payment management from 17 countries through one interface will greatly contribute to our competitive advantage”.