Abacus Sees Surge in Demand for TravelSecure Insurance Solution

Abacus has reported a surge of travel insurance bookings via its Abacus TravelSecure solution that enables travel agents to electronically purchase and manage travel insurance for their customers.

Craig Fong, Vice President, Non-Air Content Associates said that the bookings via the solution had grown by 123% on a compounding basis for 2003 – 2005.

“Despite the impressive growth these past few years; growth is continuing at a steady pace with year on year growth of 37% to August 2006. We are well on target to grow this business further by expanding our markets with regional strategic partners, adding new insurance vendors and promoting the sales of travel insurance through Abacus’ National Marketing Company.”

“Travel agents have rapidly adopted Abacus TravelSecure because of the convenience it provides by allowing electronic purchase of the insurance linked to the passenger record number (PNR), easing the workflow and removing the tedium of duplicate data entry for busy travel agents,” Mr Fong said.

Abacus TravelSecure is a fully integrated travel insurance booking solution for travel agencies. It offers a seamless transfer of customer data records from front office booking confirmation, through to back office interface, supporting accounting lines, invoice and policy print outs.

Current insurance partners whose products are available through the Abacus TravelSecure solution include AIG, Assist Card, MSIG (Aviva), AXA and Blue Cross in various combinations across a range of country markets throughout Asia Pacific.

Assist Card, a regional travel insurance and assistance provider was added to Abacus TravelSecure in August 2006 and will be progressively introduced in China, Indonesia, Malaysia, Sri Lanka, Philippines, Thailand, Vietnam and South Korea by the first quarter of next year.

AIG, a committed strategic partner of Abacus in growing the travel insurance business in Asia Pacific recently launched in three new markets - Vietnam, Pakistan and Sri Lanka.

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