Ricard Doménech, co-founder and co-chief executive of the Spanish travel insurance platform Heymondo, sees travellers in Spain and on major international routes as significantly more conscious of risk. In an interview published on 20 September with La Información Económica (20minutos), he said that cover was “broader now, because travellers are more aware of the risks”. After a brief dip at the beginning of the year, demand recovered quickly.
Doménech describes the current year for the tourism sector as one defined by resilience: strong trends at the start were followed by an escalation in the Middle East at the end of February, which made transport more expensive and briefly slowed bookings. This was particularly noticeable around the Semana Santa , alongside several natural events. Business then quickly returned to normal. The trend described by Doménech reflects developments among many providers offering policies with broader cover and more flexible options.
Heymondo positions itself as a digital provider with rapid claims handling and flexible modules for different travel segments – from short breaks to longer stays. According to industry sources, clearly worded benefits are becoming more important, including higher limits for medical emergencies, assistance services, cancellation and interruption cover, as well as support with repatriations. At the same time, insurers have to adjust their pricing and risk assumptions more frequently in response to geopolitical situations and extreme weather events, shortening product cycles and making pricing more complex.
For intermediaries and comparison websites, the trend means they have an even more important role: they act as a filter, making differences in cover more transparent. Providers are also under increasing pressure to communicate terms clearly and speed up digital claims processes. In practice, reliable availability, clear lists of exclusions and straightforward reimbursement procedures are among the factors increasingly determining purchasing decisions.
Doménech sees the recent fluctuations as cyclical, but recognises a structural shift in customer behaviour: insurance is being integrated into travel planning earlier and is less often bought as an afterthought. He gave no firm forecasts on prices or market concentration. To assess trends in margins and claims ratios over the year, the industry regularly refers to published company figures and market studies. One thing is clear: competition over transparent products and fast services is intensifying – not least because, after several years of crises, travellers have less tolerance for gaps in cover or delays in claims handling.
Editor: Daniel Mayer (Article created with AI assistance).