Why Blue Cross is investing in making wishes come true



Why Blue Cross is investing in making wishes come true | Insurance Business Canada














Plus, why travel insurance is more important than ever

Why Blue Cross is investing in making wishes come true

InsuranceNews

By Gia Snape

Blue Cross of Canada (Blue Cross) is on a mission to insure wishes. Through its historic pledge to Make-A-Wish Canada, the insurer is granting comprehensive travel insurance to children and families, helping fulfill more than 6,000 new wishes over the next five years.

“The commitment allows us to expand our impact, and grant over 30,000 travel wishes to over 130,000 wish kids and their families in total by 2027,” said Tim Bishop (pictured), managing director, Blue Cross of Canada. “And we’re just getting started!”

How did the partnership come about?

Blue Cross is a long-time supporter of Make-A-Wish Canada. Since 1989, the two have fulfilled more than 25,000 travel wishes, providing travel insurance to more than 100,000 Canadians.

For the Blue Cross, its contributions are tied to its special focus on helping families and children.

“We believe every child should have the opportunity to experience the wonders of travel and explore the world, and this belief is inspired by our over 30-year partnership with Make-A-Wish Canada,” said Bishop.

Travel insurance is often unavailable for children with serious illnesses due to their pre-existing conditions. Around 70% of all granted wishes by Make-A-Wish involve a form of travel.

Blue Cross ensures that children with critical illnesses and their families are fully covered with comprehensive travel insurance.

Canadians ready and rare to travel

Bishop also underscored the importance of insurance amid a return to pre-pandemic levels of domestic and international travel for Canadians.

In its 2023 travel survey, Blue Cross found that travel is top of mind for consumers after the pandemic-induced pause. But many are more aware of the risks during travel in the wake of COVID-19.

The survey of more than 2,000 Canadians found that:

  • 77% intend to travel more over the next 12 months, whether its for business or leisure
  • 91% want to take a vacation
  • 89% cite at least one source of stress while traveling
  • 58% have experienced a travel-related incident, such as canceled flights or lost or damaged baggage

“After several years of missing out on travel, Canadians are looking forward to traveling again,” said Bishop. “We’ve always ensured our travel insurance meets the needs of Canadians by offering affordable plans to suit any budget so that everyone can enjoy worry-free travel.”

The survey found that travelers are taking extra precautions to protect themselves and their loved ones as they resume regular travel.

Travel insurance a top tool for stress reduction

Two in five respondents also said that travel stressors, including the risk of getting COVID-19, have made them think twice about booking a trip.

The top travel stressors according to Blue Cross’ survey are:

  • 42% cost or budget pressure
  • 33% flights canceled or changed:
  • 32% lost or stolen baggage
  • 32% concern of COVID or illness
  • 30% safety and security while away

“Knowing that there’s an element of risk with any travel plans, Canadians have rediscovered solutions to manage stress, including bringing along extra cash, having someone look after their home, and purchasing travel insurance,” said Bishop.

“Travellers are looking to make the most of their trips and as we look forward, 42% said they used to travel without insurance, but not anymore.”

Travel insurance has also become an increasingly important part of the planning process, as nearly three in five (58%) respondents said they would never consider leaving their province without coverage.

The survey reflects changing attitudes to travel risk in the post-pandemic era. The global travel insurance market has grown from US19.1 billion in 2022 to US$22.4 billion this year -a compound annual growth rate of about 17%.

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