Abacus adds Ace Travel Insurance content to increase Travel Agencies’ revenue potential
By Freesun News at 19 July, 2010, 2:07 pm
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Abacus, Asia’s leading provider of travel solutions and services, today announced a new partnership with ACE Travel Insurance to distribute its insurance products to all Abacus-connected travel agents across the Asia region, including Malaysia, Indonesia, Vietnam, China and Thailand as a first phase.
Travel agents can access the content via Abacus’ fully-integrated travel insurance booking solution, Abacus TravelSecure, which allows the processing of travel insurance transactions electronically within the same Passenger Name Record (PNR). These insurance products will be available to other Asia Pacific markets in the second phase of the roll out.
Speaking at the ACE product launch in Malaysia, Mr. Brett Henry, Vice President Marketing, Abacus International, said Abacus was delighted to have another quality provider available in its system.
“By enhancing the quality and variety of travel insurance products in Abacus’ distribution system, travel agents will be able to offer more choices to their customers. Concurrently, we are also helping travel agencies increase their revenue opportunities by maximising the travel insurance sales options to their customers.”
Mr. David Fedarb, ACE Regional Head of Travel Insurance for Southeast Asia, said the company was delighted to partner with Abacus in order to provide the Asian travel agency market with access to its products.
“We are committed to providing excellent service and support to our travel agency partners, with a view to helping them increase the revenue they can earn from selling travel insurance. Our teams across Asia are focused on providing travel agencies with the tools, training and knowledge they need to sell effectively. Abacus, with its extensive breadth in the travel agency market, will play a key role in our ability to deliver.
Non-air income – that is, sales derived from hotel and car bookings as well as insurance –could account for over 50% of a travel agent’s income in Singapore and Hong Kong, according to Abacus booking data. It does vary between travel agencies across the region with a lower uptake in other Asia Pacific markets.
Mr. Henry said that these markets were catching up. “Abacus is experiencing rapid growth in its insurance category with an average of 14% year-on-year growth in bookings. Of the five markets, Vietnam is in the lead posting at least a 20% month-on-month increase. With the new ACE Travel Insurance content, we are forecasting a 20% increase in insurance bookings on top of the current bookings, across these five markets,” added Mr. Henry.
About Abacus International
Singapore-based Abacus International is the Asia-Pacific’s leading provider of travel solutions and services with more than 20,000 travel agency locations in 24 markets. With over 22 years of experience in fusing international best practices and local expertise with global and local partnerships, Abacus provides travel information and reservations specifically tailored to the Asia-Pacific region.
Abacus International is owned by Sabre and a consortium of Asia’s leading airlines including All Nippon Airways, Cathay Pacific, China Airlines, EVA Airways, Garuda Indonesia, Dragonair, Philippine Airlines, Malaysia Airlines, Royal Brunei Airlines, SilkAir and Singapore Airlines. Sabre is the global leader in the electronic distribution of travel and travel related services.
More information on Abacus can be found at www.abacus.com.sg.
About ACE Travel Insurance and the ACE Group of Companies®
ACE Travel Insurance is a division of the ACE Group of Companies®, one of the world’s largest providers of commercial property and casualty insurance and reinsurance. ACE Travel Insurance helps hundreds of partners across various industries to maximize their insurance-derived income while providing high-quality coverage and service to millions of travelers globally.
ACE Travel Insurance is part of a growing range of risk management services offered by the ACE Group, a well-diversified company both by product and geography. With a history dating back to 1792, ACE is distinguished by its underwriting expertise, superior claims handling and global franchise – a physical presence in more than 50 countries.
ACE’s core operating insurance companies are rated A+ by Standard & Poor’s and AM
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