India is a potential market which is still untapped in the travel assistance product segment. Many travel assistance products which have significant importance in the global market are still considered as add-ons in the Indian market. One of the main reasons for this is lack of innovative products and professional training and knowledge of the seller. Commenting on the demand for travel assistance products in India, Dev Karvat, managing director, Trawell Tag states, “On an average, 80 per cent of the people purchase travel insurance and travel assistance products abroad, but in India it is still less than 20 per cent which is way below the average. This situation has risen due to limited knowledge of the seller, as he is not confident of selling the products.”
The travel assistance products available in India are – medical assistance, concierge assistance, travel insurance, global sim-card and luggage tracker. The luggage tracker, an innovative product offering by Trawell Tag, is a small metallic tag which has a unique code. In case of a luggage misplacement this tag acts as a life saviour. This product was initially viewed as an add-on, but now travellers feel more secure because of this product.
Technological advancements
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Dev Karvat
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Trawell tag’s breakthrough product, luggage tracker works on a unique code system, wherein a metallic piece consisting of a code is tagged to the luggage and in case of a baggage misplacement, this unique code comes into play. Trawell Tag has several tie-ups with airlines and airports, which helps in updating the found luggages’ code online. The status of the luggage can be seen online and the bag can be easily recovered. Elaborating on the same, Karvat states, “The luggage tag which we are providing today is a unique product which nobody else in the market is offering. With our direct tie-up with airlines and airports we can easily track the luggage. Also, the pricing of the product goes easy on the pocket, anyone can easily afford this product. The price of the product is usually less than one per cent of the total travelling cost of the customer.”
The luggage tracker has been 60 – 70 per cent efficient in returning the customers luggage. With the advancement of technology, the efficiency of this product can be increased by making it radio frequency identification (RFID) enabled. But the industry is facing many challenges, due to which this furtherance cannot be easily achieved. Karvat explains, “We already have a RFID or GPRS system in place, but the issue is that most of the airports in the world are not RFID enabled, so even if we have GPRS on the tag they cannot be tracked. There are only two airports in the world which are RFID enabled, Hong Kong and Miami. So at the moment we will continue selling the same product.”
To capture any market, a company has to use each and every resource available in an effective way. Technology has become a key game changer in every segment. The technology in the travel assistance product segment has evolved everywhere in the world expect in India. Trawell Tag is making an effort to bring advancement in the e-commerce section, which if used effectively can broaden the market penetration scope.
Speaking about the advancement of technology, Karvat said, “e-commerce is still underdeveloped in India. As a market leader, we take it as a responsibility to develop this segment. This would help the market to grow in a very efficient manner. We also invest a lot into technology, research and development so as to improve our existing products and bring more innovative products.”
Global expansion
Trawell Tag’s recent collaboration with Cover More, a medical insurance company from Australia, has now given the Indian market many new innovative products. Cover More is a minority stakeholder and has expertise in customer handling and has more than 50-60 products which includes some advanced products like adventure sports insurance; car rental access coverage; trip cancellation coverage, which is a highly innovative product where non- refundable tickets becomes refundable.
“The strategy behind partnering with Cover More is their global presence factor. Cover More is a perfect fit for us which will help to add all that is missing in our business and help us to take our business to the next level,” highlights Karvat. Trawell Tag also has plans to launch its luggage tracker product in Australia in the coming quarter along with expansion plans in Middle-east and Sri Lanka which is still at the nascent stage.
