Why you should live more and worry less: Interview with NoWorries Insurance CEO Tony Venning.
It was nearly three years ago that Tony Venning decided to start his own global insurance company. This was after a 20-year career in London, Melbourne and Sydney at the major international insurance firm JLT. As a bit of an adrenalin junkie himself, Tony saw an opportunity for a specialist insurance provider that understood the often specific needs of the adventure market. He wanted people to be able to live more and worry less, hence the name NoWorries Insurance.
Travel insurance Q and A with NoWorries Insurance CEO Tony Venning
Q. Firstly, can you share some details of the NoWorries company background?
- A. People who love skiing, cycling, surfing or travelling can be shocked when they need to make an insurance claim and then find out there's a clause in the fine print that prevents them from doing so. Similarly, if you're on a ski or surfing holiday and perhaps travelling through multiple countries chasing the best snow or waves, some companies won't cover you for winter sports activities or adventure sports and activities.
- This Australian owned and operated company specialises in personal and property insurance for the adventure travel and sports market, and is backed by one of the world’s biggest underwriter insurance companies Lloyds of London. Skiing and snow boarding, surfing, golf touring and cycle touring are all covered as well as specialist cyclist insurance for road, mountain and even electric bikes for professional riders, weekend lycra warriors or recreational cyclists.
Q. NoWorries offers an impressive range of policies geared towards adventure travel and sporting activities; can you provide some more details of these policies?
- A. NoWorries offers insurance policies that are aimed at the adventure traveller and sporting market. Most other insurance companies don’t cover these activities as a standard. Our aim is to get people out there living life and doing the things they love. Worrying less. Before you go anywhere else for your travel insurance, ask yourself, “Am I covered for all of these activities as standard?”
- Skiing and Snowboarding (including off-piste)
- Cycle Touring
- Scuba Diving (up to 30m for qualified divers or where accompanied by qualified instructor)
- Canoeing (up to grade 5 water rapids)
- Kayaking (up to grade 5 water rapids)
- Rafting (up to grade 5 water rapids)
- We cover 38 pre-existing conditions automatically (subject to certain terms and conditions). Many travel insurers won't provide cover for any claims resulting from any pre-existing condition that wasn't disclosed prior to arranging your travel insurance. We are genuine in our commitment to provide the Australian traveller with outstanding value for money. That's why we're committed to offering NoWorries Travel Cover with our Price Beat Guarantee: If you find comparable cover cheaper elsewhere - we'll beat it.
- We’ve got you covered with our 24/7 Emergency Assistance protection provided by Intana Assist. If you have an accident and require an emergency evacuation we provide you with a 24 hours a day, 365 days a year emergency hotline. Intana Assist are world leaders in providing Emergency Assistance to travellers worldwide. Our Australian-based claims assistance centre are travel claim specialists. We’ve made our claims process as fast and as simple as possible.
Q. What was it that lead to the launch of these products? Was there a gap in the Australian market for these?
- A. There was definitely a gap in the market for an insurance company to meet the needs of the adventure traveller. On too many occasions travellers have to make a claim before discovering what they aren’t covered for in respect of adventure travel. This is due to the majority of travel insurers attracting travellers with very cheap, basic policies, which exclude adventure and sporting activities. Often a travel insurance company will advertise that they can cover these activities with the catch being that the traveller must upgrade their policy to be insured for these activities. It is an area that too many travellers are being exposed to once it’s too late and they are left with crippling overseas medical expenses, which are not covered. With NoWorries Insurance we cover winter sports, kayaking, scuba diving and snorkelling when most insurers would need you to upgrade to a higher level of cover, which is also a more expensive option. With NoWorries Insurance you are covered as a standard.
Q. Many Aussies will soon be heading off the slopes as the snow season approaches. What are some of the benefits of taking out Snow Insurance that some travellers might not know about?
- A. NoWorries Travel Cover provides specialist on- and off-piste winter sports travel insurance cover for you, your skiing and snowboarding equipment, ski and snowboard passes and any hire equipment costs. With worldwide coverage you can ski from Thredbo to Whistler and relax knowing you’re covered by one of Australia’s leading ski and snow travel insurance brands. Included within our standard cover is:
- Medical Expenses and Emergency Evacuation up to $25,000,000
- Personal Accident Insurance up to $20,000 for each person in your travelling party
- Personal Liability up to $2,500,000
- 24/7 Emergency Assistance Hotline if you need urgent assistance or evacuation
- We are the specialists when it comes to providing cover for your baggage, personal property and winter sports equipment. As part of our standard cover we provide:
- Baggage and Personal Property up to $20,000 (including ski and snowboard equipment)
- Ski, Snowboard and Snow Gear Equipment up to $2,000 whilst in use
- Also, we make sure you're covered if something happens and you're unable to use those expensive lift passes and ski hire equipment. As a standard we provide:
- Cover if you are unable to use your lift pass and hire equipment due to accidental injury or illness
- Cover for loss or theft of ski pass during your trip
- Ski and snow holidays are expensive and you need to know you’re gonna get some snow! That's why we provide the NoWorries No Snow Insurance. In the event you are unable to ski or board at your resort due to adverse weather conditions causing the closure of the piste we provide cover for additional costs of up to $500 per person and $1,500 per trip to get you to the nearest ski resort where the runs are open.
Q. What would you say are some of the most important features for travellers to consider when comparing policies?
- A. The key issue when comparing travel insurance is to make sure you understand the product you are buying. So make sure you read that PDS, which should tell you everything you need to know in plain English. Make sure you do your homework and take out the travel insurance that is right for your needs. Particular attention should be paid to the following areas:
- Ensure that the activities you will be undertaking are covered – make sure you read the excluded activities
- The regions/countries you will be travelling to are covered
- Any pre-existing conditions you require cover for are included
- The limits of coverage applicable to each section are adequate for your needs
- The excesses applicable to any claims are acceptable
- The price
- It’s also very important to understand the terms and conditions of any “complimentary insurance”, such as those provided by credit card providers. All too often, travellers are caught out by conditions such as:
- The card must be used for each portion of your trip for the travel insurance to apply
- The activities that you are covered for exclude winter sports and other adventure activities
- Limitations in regards to the number of travel days – in some cases this can be as low as 30 days
Q. What should travellers do to ensure their claim is successful if they do happen to find themselves in strife overseas?
- A. If travellers find themselves in strife overseas and need to make a claim. They should first of all advise the NoWorries Insurance Claims Assistance Centre as soon as possible. We're here to help if you require any assistance in lodging your claim. The easiest way to lodge a claim is by completing one of our claim forms. You should ensure you keep evidence of ownership and the value of any insured property or any expenses incurred. It is also important to thoroughly fill out all the information and explain the circumstances surrounding your claim, that way you’ll have no worries when it comes time for us to pay your claim.
Q. How else does NoWorries set itself apart from other travel insurance brands?
- A. NoWorries is a unique brand and sets itself above the competition because we strive to help people enjoy the things they love with less worries:
- We cover what others don’t – AS A STANDARD
- We’ll beat any price
- We’re backed by Llyods
- We’re Australian owned and operated
- We offer premium cover
- We provide outstanding value
Q. What are some other benefits of purchasing cover with NoWorries Insurance?
- A. There are many benefits to purchasing cover with NoWorries insurance! First of all we have a price beat guarantee – if you find a policy that’s comparable, we will beat it (terms and conditions do apply; see our website). We offer great cover, with skiing, snowboarding, bikes, kayaking and more covered as a standard when you travel. It is cover designed to suit you. So you can enjoy the things you love doing with No Worries. NoWorries Cover also offers peace of mind as we are backed by Lloyds, one of the world’s most trusted insurance brands.
Q. Are there any exciting updates for NoWorries in the future we should know about?
- A. We are excited to announce NoWorries Insurance is spreading its wings into the market of home and contents insurance. Of course our product is not just your average home and contents insurance; our product is targeted towards those who like to live more and worry less. Our home insurance will provide you with not only general home and contents insurance, but your bicycle and all your personal items such as jewellery, laptops, iPads and more will be covered, as a standard, not only at home but also while you travel, so you can feel secure that everything is safe inside and out! This new NoWorries home and contents insurance should be available by August 2016.