Hungarian travelers are not looking for the cheapest options: they have discovered what they are willing to spend money on.
Demand for travel insurance among Hungarians has increased, and fewer people are choosing based on price. Analyzing nearly 400,000 travel insurance contracts, Netrisk found that 9 out of 10 travelers considered the quality of the service to be the most important factor, while the proportion of the cheapest options was only 3 percent. The company launched its own insurance plan with different price categories to encourage quality competition.
Demand for travel insurance has increased, and Hungarians are increasingly choosing insurance based on service quality rather than price. Netrisk analyzed data from nearly 400,000 travel insurance contracts in 2023, and 9 out of 10 travelers considered service quality the most important factor, while insurance policies with the lowest prices accounted for only 3 percent of the market. The company launched its own insurance policy, based on expert evaluations, customer feedback, and sales data, and initially rewarded policies that offered excellent service. The five categories of awards were identified. The initiative aims to promote quality competition in the insurance market.
