Covering every eventuality

The lowering of visa application conditions for Chinese tourists following the recent Asia-Pacific Economic Cooperation meeting in Beijing will open up wider opportunities for the country's overseas travel insurance sector, according to industry representatives.

Frank Chen, head of product development in AIA China Ltd, a Hong Kong-based insurance company, says since it has become easier for Chinese people to travel abroad, traveling is no longer just a leisure activity but associated with other purposes as well, such as beauty and medical treatment, or even religious pilgrimage.

"Many developed countries require that travelers should take out insurance to a certain level to be eligible for a visa. Yet we have noticed that many customers are becoming dissatisfied by basic mandatory insurance policies," says Chen.