Three years in running, the travel insurance portfolio in business terms against the Boston Consulting Group Matrix (BCG) can be best described as a 'Dog' with the potential to develop into a 'Cash Cow'. By this we mean, the travel insurance portfolio has grown and has the po- tential to generate premiums both from individual and group policies in the long run.

Upbeat scenario
Statistics suggest that approximately 5.2 million passengers traveled out from the UAE in the year 1999- 2000. Therefore, giving us an idea of how many potential customers we can cater to with our travel insurance cover.

These figures comprise of both business and leisure travelers, who could both need a travel insurance policy against unforeseen contingencies.

From our experience over the three years, most of the demand has come from passengers visiting Europe and USA or Canada. In recent times, European consulates have made it mandatory to have an insurance cover against medical expenses for visitors from the UAE to their respective countries. This gives us a new avenue to cater to.

Keeping in mind the price of tickets during oeak travel seasons Alliance has priced its policy in view of this fact whereby the customer does not feel that travel insurance is out of his/her budget. For just a fraction of a premium, one can stay away from the 'panic button' in the event of unforeseen contingencies and let Alliance take care of the rest.

Having established our brand awareness through a marketing strategy we have left a very friendly and familiar picture in the minds of our customers. One of the reasons we have been progressing positively and steadily in this portfolio is the contribution made by the after sales service, prompt claims settlement and continued patronage of our valued customers.

This portfolio as of now stands as a door opener for other insurances Alliance offers. It has proved itself capable to operate as a free standing portfolio of the General Insurance Division with a lot of potential for further growth in the long run.