Royal & Sun Alliance Insurance Company of Canada announced an agreement with Expert Travel Financial Security Inc. (ETFS), described as a specialist in “added-value niche health and travel insurance program management, in Canada and around the world,” to provide travel insurance products.
The agreement makes R&SA Canada one of the largest travel insurance underwriters in the country. It will be the leading provider of travel insurance products for the ETFS portfolio. ETFS and its affiliates will provide policy and claims administration as well as assistance services for the portfolio. Agilon Financial Inc., an affiliate of R&SA dedicated to group, affinity and personal specialty market segments, will manage the program.
“This deal illustrates our commitment to growing personal specialty lines in Canada,” stated Rowan Saunders, VP of Personal Financial Services for R&SA. “We want to balance our business mix and focus on strategic niche opportunities. That’s why we’ve chosen to align ourselves with the ETFS Financial Group, a leading provider of global travel insurance program management.”
The existing ETFS travel portfolio totals more than Can$50 million (U.S.$ 33.86 million) in premium. This includes numerous travel insurance products such as Out of Province Medical (Annual & Short Term), Baggage, Trip Cancellation, Trip Interruption and AD&D.
“Because we provide superior products and services to meet a large variety of unique travel insurance needs, we chose our new provider very carefully,” indicated Reg Allatt, CEO of ETFS. “Royal & SunAlliance has access to extensive global expertise in the travel insurance market and we’re confident that we’ve made the right choice.”
ETFS programs are sold through various channels including travel agents who sell Globetrek Travel Insurance directly to leisure travelers, brokers who sell Medi-Select Advantage directly to travelling Canadians and snowbirds and through affinity business partners such as automobile associations who offer their own branded product directly to members.
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