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San
Diego, CA – November 2021 / Newsmaker Alert / Generali
Global Assistance (GGA) announces that it has entered into a partnership
with Key Data, the leading
provider of global vacation and short-term rental market data, to launch
TripIQ, the hospitality industry’s first business intelligence and benchmarking
platform for travel insurance. GGA, a recognized expert in travel insurance
and assistance services, is sharing select proprietary data points from
its Short-Term Rental survey.
TripIQ
will allow professional lodging partners to see clear, data driven insights
around its travel insurance sales and conversion metrics. Additional dashboards
will provide benchmarking for partners so they can visualize their comparative
performance against similar competitors in their target markets.
Chris
Carnicelli, CEO of Generali Global Assistance, commented on the news,
“Partnering with Key Data was an easy decision for us. Their extensive
expertise within the realm of short-term rentals will greatly benefit the
implementation of our new platform, TripIQ. Given the results of our short-term
rental study, we found that gross bookings will reach $37B by the end of
2021, which is a 52% increase as compared to 2020. With travel on the rise
post-pandemic, the amount of vacation rentals has clearly increased exponentially,
as well. Ultimately, implementing TripIQ in partnership with Key Data was
an easy choice.”
Jason
Sprenkle, CEO of Key Data, added, “We’re excited to work closely with
an industry leader like GGA to make this market data available to the property
managers that need it most. As travelers look for fun and safety on their
next trip, property managers can use their TripIQ data to determine how
to best position their travel insurance offerings to potential customers.”
As
they prepared to partner with Key Data, Generali Global Assistance examined
the current short-term rental habits study conducted by Phocuswright. As
a result, some interesting trends and statistics emerged:
-
Roughly
one third of prospective hosts express concerns about the potential for
damage to their property if rented out.
-
On average,
5% of short-term rental stays resulted in the property damage, according
to the property managers.
-
68% of
hosts purchase supplemental liability insurance beyond what is offered
by booking platforms. Those with longer tenure, that managed short term
rental properties for 3 years or more, are 25% more likely to purchase
supplemental liability insurance beyond what is offered by booking platforms.
-
10% of
renters indicated that they have been motivated by an offer of the insurance
to book via specific booking platform.
-
43% of
renters indicated that purchasing travel insurance is now more important
than before COVID-19. Those who are renting a luxury rental home/apartment
are more likely to purchase travel insurance (almost 56%). Those between
ages 25 to 44 years particularly found insurance more important now compared
to their younger and older cohorts (50% of each found it more important
now compared to 30% in the 55+ cohorts or 36% in the 18-24 cohorts).
“As our
data demonstrates – the way we travel post-pandemic has changed dramatically.
Having reliable, consistent access to a dependable platform, which will
assist in rental and travel resources, is going to be a game-changer for
renters and property managers alike,” added Mr. Carnicelli.
Upon
its general release, TripIQ will be free to all customers that use both
Key Data and Generali Global Assistance Travel Insurance and Vacation Rental
Protection products.
About
Generali Global Assistance
Generali
Global Assistance (GGA) is a leading brand comprised of Travel Insurance
& Assistance, Cost Containment, Identity & Cyber Protection, as
well as other care services. GGA is part of the Generali Group, which for
over 190 years has provided peace of mind to its clients and their customers
and is now supported by more than 72,000 employees worldwide. Our success
has been built on establishing trust by putting the customer at the core
of everything we do, offering assistance and protection during our customer’s
most difficult and stressful situations.
To
learn more about Generali Global Assistance, please visit: us.GeneraliGlobalAssistance.com.
About
Key Data
Key
Data is the leading provider of trusted, real-time vacation rental
market data around the world. In exchange for receiving data directly from
lodging providers via integrations with their reservation platforms, Key
Data is able to offer the industry’s leading business intelligence and
benching tools. Once aggregated, this uniquely accurate and timely dataset
serves as the core of Key Data’s broad set of dashboards and data offerings
for countless industries that depend on insights into this exploding segment
of travel. Key Data is a privately held company based in Santa Rosa Beach,
Florida. For additional information, visit www.KeyDataDashboard.com.
Media
Contact:
Jay
Morakis
M
Group Strategic Communications
for
Generali Global Assistance
646-859-5951 |