Today there are many people using an online travel agency (OTA) to plan their travel and they are an integral part of a colossal online travel market. The compliance issues of OTAs that revolve around the OTA industry are mainly concerning the effective use of payments. However the technology essentially plays a crucial role here and Ancileo provides the technology to help OTAs integrate insurance into their purchase flow.

When taking up travel or leisure trips there opens up new opportunities for the OTA- Online Travel Agents to develop additional creative products to protect travelers from a range of travel-related setbacks. Compliance issues when considering travel insurance can prove as additional revenue in your OTA business. Today’s OTA Travel Insurance products run the gamut from standard offerings such as flight cancellation due to illness, to other services when your return trip is delayed.

The compliance issues in travel insurance product development are a complicated balancing act of variables that shift according to jurisdiction and coverage. Travel insurance comes with a unique set of stipulations that vary by jurisdiction, coverage type and, in some jurisdictions, coverage amount.
The OTAs while providing regulatory compliance services have to face the ongoing changes that impact travel insurance policies.

Ancileo offers to empower insurance distribution with B2B2C Partnerships. Ancileo provides 360º technology solutions for insurers, re-insurers, brokers and affinity partners. Ancileo platform provides plug and play, secure and customizable technology solutions that enables efficient insurance distribution through digital partnership.

A few of the challenges those are unique to this evolving line of business includes
• Changes in regulatory environment
• The Travel Insurance Agent needs to Install Adequate Support When Offering Inconvenience Benefits.
• Current Regulatory Settlement Agreements Can Impact the Offerings.
• Avoid Benefit Overlap - There is potential for benefit overlap with coverage when issuing travel insurance.

Travel Insurance Distribution technology from Ancileo is acclaimed the best. With simple API, Plug and Play Insurance APIs for the entire customer journey Ancileo provides excellent services. It takes years to pull together the licenses, capital and technology needed to offer insurance, which is why Ancileo's API lets anyone with some basic coding knowledge include these capabilities in their website and mobile app, in a matter of hours.

About Ancileo:

Ancileo is a technology company that builds digital solutions for the entire insurance value chain. Re-insurers, Insurers and affinity partners use Ancileo to leverage partnership distribution channels. Ancileo provides the technology to help OTAs integrate insurance into their purchase flow they do not sell insurance to consumer directly. For more details visit: https://ancileo.com/