YouTrip launches in-app travel insurance with major savings for travellers in Singapore

• Singaporean YouTrip users can now purchase travel insurance powered by HL Assurance directly in the YouTrip app
• Users are guaranteed a 15% cashback and up to 50% in additional savings on each single-trip policy
• This move marks a significant step in YouTrip's work to integrate the most affordable overseas payments and protection on a single platform
  

SINGAPORE - Media OutReach - 4 July 2022 - Singapore's leading neobank, YouTrip, announced today that it has launched a new travel insurance product on its multi-currency app for all local users. Rolled out in conjunction with online insurance provider, HL Assurance (HLAS), travellers can now purchase a single-trip policy directly and conveniently on the YouTrip app, and enjoy up to 65% in savings on their plan.

This roll-out follows the rapid travel comeback among Singaporeans, and business for YouTrip has grown an exponential 4X this quarter (Q2) compared to 2021. With international travel only expected to rise, this expansion into insurance is timely in helping to simplify users' trip preparation process.

"In this post-pandemic travel, getting well-covered with comprehensive insurance is an essential on every travellers' checklist. Likewise, this integration of insurance in our suite of financial services gives users a peace of mind as they embark on new adventures overseas. As a company, this is also a significant step in our work to build a borderless banking product for travellers in the region - from promising the most affordable and convenient multi-currency payments, and now protection," said Caecilia Chu, CEO and Co-founder, YouTrip.

A rewarding and convenient way to stay protected

To ensure all users are well-protected, YouTrip has curated the most comprehensive plan from HLAS with enhanced benefits to cover medical treatments as well as trip cancellations and/or postponement due to COVID-19.

YouTrip is also rewarding users for protecting themselves, with a guaranteed 15% cashback on every purchase of a single-trip policy from their HL Assurance COVIDSafe Travel Protect360 Enhanced Plans. The plans are some of the most comprehensive and flexible travel insurance products in Singapore covering COVID-related situations, with enhanced features such as flexibility in travel date changes, overseas hospital cash benefits and quarantine allowance, as well as reimbursements on travel delay, postponement and disruptions.

This comes on top of an additional 40% discount off the premium, and an up to 10% No Claim Discount (NCD) for customers who do not make a claim. These additional discounts (40% premium discount + 10% NCD) will only be valid until 31 July.

Application is extremely easy and convenient on the YouTrip app. Pre-stored user information means basic personal details are auto-filled during the process, reducing the hassle of repeatedly filling up online forms. To close the loop, payments are deducted securely from the YouTrip wallet.

Travel safe and easy with YouTrip

1. Select 'Insurance' on the homepage of the YouTrip app.
2. Select your travel region and dates.
3. Review your travel insurance details and price. The amount of cashback will be indicated in-app.
4. Once ready, check your personal details before making payment.
5. The travel insurance purchase confirmation and policy details will be sent to your email.

This new travel insurance also builds on the Mastercard Flight Delay Pass travel benefit launched earlier this year. With this Pass, each YouTrip user and a travel companion will be able to access over 1,000 airport lounges worldwide in the event their pre-registered flights are delayed for at least two hours.

About YouTrip

YouTrip is a Southeast Asian neobank dedicated to creating the next-generation of digital financial services for consumers and businesses. In 2018, it launched the region's first and leading multi-currency payment app.

With its consumer and corporate products, YouTrip and YouBiz, the company empowers users with the most affordable and convenient financial innovations to transact in any currencies worldwide. The company is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), and owns principal memberships and issuing licences with two of the largest card schemes, MasterCard and Visa. For more information, please visit www.you.co

#YouTrip

About Hong Leong Assurance

Founded in Singapore in 2013, HL Assurance is a licensed general insurer approved by the Monetary Authority of Singapore and a member of the General Insurance Association in Singapore.

Through a wide range of products and services including critical illness, personal accident, car, critical illness, fire, home, mobile phone, maid and travel insurance for personal needs and business packages, casualty, engineering, keyman and property insurance for business needs of corporations and SMEs, HL Assurance provides quality customer-centric products to protect every customers' valuable assets.

HL Assurance is a member of Hong Leong Group, a leading conglomerate with diversified businesses in banking and financial services, manufacturing and distribution, property development and investments, hospitality and leisure, and principal investment with presence in Asia, Europe, North America and Oceania.

For more information, please visit www.hlas.com.sg