5 Questions with Peter Altmann, Vice-President Mobility & Travel Protection, Amadeus

Please can you tell us about your role at Amadeus – and how insurance plays its part in Amadeus’ offering?

At Amadeus, my role involves overseeing the Mobility & Travel Protection business unit. For Travel Protection, this involves working with our insurance and travel protection partners and enhancing our offerings by integrating innovative services and fintech products.

This evolution aims to create comprehensive travel protection solutions that cater to all travellers. We are enabling the worldwide distribution of insurance and travel protection to our key customer segments: airlines (our most important segment), travel sellers, and hoteliers.

According to our latest 2024 Global Travel Seller Report, over 50% of travel sellers would consider offering value-added services, including insurance, to their travellers. However, we also know that, of all types of content in the travel industry, insurance is one of the hardest to crack in terms of attachment and conversion rates (PhocusWire, 2023). This is where we, as Amadeus, play a crucial role in tackling this gap.

over 50% of travel sellers would consider offering value-added services, including insurance, to their travellers

How do you envision the evolution of travel trends, and what implications does this have for travel protection?

The evolution of travel trends is expected to be significantly influenced by technology and changing traveller behaviors. In 2023, Amadeus identified four future traveler segments, with one notable segment being the travel tech-fluencers. These travellers are keen on using technology to solve problems quickly and expect prompt services like instant deliveries in everyday life.

Technology now supports immediate booking flows for entire trips, including insurance. However, there is still a gap in the ability to book insurance or protection products on demand during the trip. ?

Additionally, the current claims process is cumbersome and slow, failing to cater to the future behaviours of travellers. This process should be automated for efficiency. Imagine a future where travellers on adventurous trips encountering unexpected events automatically receive refunds, with instant payouts visible in their accounts. This benefits both travellers and providers.

Moreover, booking behaviour varies by age group. For instance, budget-conscious Gen Z prefers flights with multiple connections to save costs and often books flight cancellation protection instead of medical insurance.

As the travel industry evolves, travellers seek personalized, seamless experiences. Travel protection must adapt, shifting from basic insurance products to comprehensive solutions. Amadeus works with insurtech companies to provide tailored services beyond simple travel insurance.

As the travel industry evolves, travellers seek personalized, seamless experiences. Travel protection must adapt, shifting from basic insurance products to comprehensive solutions.

How is the travel insurance industry addressing evolving travellers’ expectations and needs?

The travel insurance industry is responding to these evolving expectations by offering more personalized and flexible insurance products. This includes integrating various protection and fintech products that go beyond traditional travel insurance. The focus is on providing comprehensive solutions that meet the diverse needs of modern travellers. We believe that technology is a key enabler to cater for traveller’s needs when looking at travel protection.

Innovation is at the heart of Amadeus’ mission. Could you share some recent innovations from your department?

Amadeus has been improving the travel experience with its travel technology for over 30 years, leveraging open-source systems, big data, cloud-based architecture, and APIs to enhance control for customers and options for travellers. Our innovation efforts focus on creating a smarter, seamless, and more sustainable travel experience by allowing us to understand traveler behaviours and harness creativity from diverse sources.

For travel protection, we go beyond simple booking. We are developing a fully digital claims process that allows travellers to cancel their flights for any reason and receive an automated refund. This not only provides peace of mind for travellers but also generates incremental revenue for airlines by retaining the value of tickets and reselling freed-up seats.

Looking ahead, what are the next steps for Amadeus Travel Protection?

We continuously innovate to enhance the traveller’s journey. To do this, we need to stay close to our partners, customers and travellers by attending key events such as INNOVATE THIS in London.

Moreover, we have recently launched the Amadeus Travel Protection Talks, where my colleague Daniela Taylor discusses the future of travel protection and explores travel trends with key insurance partners and industry experts. Stay tuned - more episodes are on the way!

You can contact Peter Altmann at [email protected].