K&H: Hungarian tourists have started, the mobile solution is becoming more and more popular

By: Trademagazin Date: 2024. 07. 10. 11:14

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A significant, double-digit increase can be seen in travel insurance this year, K&H announced. The financial institution signed 11 percent more contracts between January and mid-June than a year earlier. More and more people are insuring their travel via mobile banking, as 37 percent of bookings so far this year have been made on smartphones, compared to 28 percent last year.

The desire to travel has increased this year, and the improvement in the financial situation of the population may play a role in the expansion, thanks to the rising real wages due to lower inflation. According to the K&H Safe Future survey, in the first quarter of this year, 26 percent of 30-59 year olds said that they were planning a shorter trip abroad – a maximum of 5 days, which is higher than the 19 percent rate a year ago, and compared to 16 percent last year, 21 percent this year plans to spend more than 5 days abroad.

Double-digit growth

“According to K&H data, the number of travel insurances taken out increased by 11 percent from January to mid-June this year compared to a year earlier. The real travel season started in the second week of June last year and again this year, which means that the number of travel insurances increased significantly compared to the previous weeks.
The rise of digital solutions is spectacularly visible in this area as well: so far this year, 37 percent of travel insurances have been taken out through the mobile bank, while a year ago in the same period this value was only 28 percent”

– said Pálma Székely, head of K&H’s sales and life insurance business.