LINE TRAVEL jp (Web) under joint operation by Venture Republic Inc. (Headquarters: Tokyo, Minato-ward, Chief Executive Officer: Kei Shibata) and LINE Corporation, a leading online travel metasearch and media for travelers in Japan, in cooperation with AWP Ticket Guard Small Amount & Short Term Insurance Co.,Ltd (Heardquarters: Tokyo, Shinagawa-ward, Chief Executive Officer: Xavier Mauriac), has commenced sale of “Insurance for Travel Cancellation Costs (Hereby referred to as Travel Cancelation Insurance)” as of Thursday May 16th 2019.
Travel Cancellation Insurance is geared towards customers purchasing flights, accommodations or package tours through LINE TRAVEL JP, guaranteeing coverage of cancellation fees incurred in cases where the customer is unable to travel due to issues such as sudden illness or travel delays.
Additionally, this will be Japan’s first insurance service handling single accommodations rather than accommodations paired with flights or other products.
*In-house research as of May 16th 2019
In recent years it has become evermore easy to book and research leisure and business travel products. Flight and accommodation prices were changing according to demand, but with them came a growing number of terms and conditions making schedule changes and reimbursement difficult. The decision to provide this travel cancellation insurance stems from a number of customer concerns such as booking early only to find their children get sick, or a sudden business trip cuts their travel short, among other individual basis for cancellations.
Example of Accommodation Cancellation Insurance
Accommodation Cancellation Insurance*1 guarantees reimbursement on nonrefundable costs or penalties incurred from cancelling with accommodations*2, in cases such as cancellation due to sudden illness, or hospitalization of a family member, travel delays, or mandatory business travel.
Customers are encouraged to read at the site below.
Insurance details: https://www.travel.co.jp/insurance/cxl/
*1: “Accommodation Cancellation Insurance” is a simplification from the “Insurance for Travel Cancellation Costs”.
*2: Cancellation costs refer to non-refundable costs from the accommodations, and travel agents.
Underwriting Insurance Company
Address: 140-0002 Tokyo, Shinagawa-ward, Higashi Shinagawa 4-12-8, Shinagawa Seaside East Tower 2F
Corporate Name: AWP Ticket Guard Small Amount & Short Term Insurance Co.,Ltd
CEO: Xavier Moriarch
Founded: April 12th 2011
Operations: Small & Short Term Insurance
Address: 106-0031 Tokyo, Minato-ward, Nishi-Azabu 4-3-11, Izumi Nishi-Azabu Bldg.
Corporate Name: Venture Republic Inc.
CEO: Kei Shibata
Founded: August 1st 2013 (Established January 4th 2001)
Operations: Media operator with the purpose of assisting sales activities around travel consumers