Navigating uncertainty in travel
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Why travel insurance is essential in today’s financial and geopolitical climate
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WITH GEOPOLITICAL and economic tensions on the rise, more and more people are reevaluating their travel plans – especially Canadians looking to head across the border and into the US. However, that’s not to say that Canadians are putting a pin in travel altogether – in fact, people are looking at increasingly faraway destinations as their vacations of choice.
Speaking to IB, Sasha Opacic, vice president of business development at Allianz Global Assistance Canada (Allianz), explains that while the world is changing at a rapid pace, this serves as a good lesson to clients on just how important coverage is.
“We’re not selling insurance; we’re selling peace of mind,” he tells IB. “As the world becomes more complicated, whether travelling domestic or abroad, travel insurance is definitely a must.”
“Strangely, travel insurance doesn’t necessarily come up as part of traditional risk planning or financial planning,” he adds. “You talk about life insurance if you die, you talk about disability in case you get injured – but people don't realize how expensive accidents can be when vacationing in another country, especially in the US. One incident could have a catastrophic impact on your financial plan.”
For over 35 years, Allianz Global Assistance Canada has supported travelling Canadians and visitors when they need it most with value-added travel insurance and assistance services. We bring our passion for assisting people to life every day through our partnerships with well-known brands in the broker, travel, and financial services markets. Allianz Global Assistance Canada is a specialist brand of Allianz Partners. For more information, visit the Allianz Global Assistance Canada website.
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How covid-19 Affected Non-Profits
Moderate negative impact
38%
Significant negative impact
28%
Little negative impact
12%
Moderate positive impact
0.5%
“The need for travel insurance is there. It’s about sharing that message and bringing awareness to the broker community, which plays a critical role in protecting Canadian travellers”
Sasha Opacic,
Allianz Global Assistance Canada (Allianz)
Opacic believes there needs to be more awareness around why people need travel insurance – and the devastating knock-on effects if they don’t have it. Medical bills are so expensive in other countries – even relatively small procedures such as stitches or an injection or a cast can have a painful impact on someone’s financial well-being.
“You’re really jumping out of a plane without a parachute when travelling without coverage,” says Opacic.
Opacic explains that Allianz is revolutionizing the way clients perceive travel insurance through continuous education.
“Knowledge really is power here,” he tells IB. “It’s about being at the forefront of getting that information and spreading it across our networks. Because people are often busy in their daily lives, they often don’t fully understand what these tariffs or economic changes or geopolitical issues mean for them and their plans. We’re really trying to communicate frequently with the broker community to raise awareness. People are still travelling – that’s the important thing.”
Regardless of what’s often printed in the media, people are still travelling for pleasure and business – despite the tensions across borders. According to a recent survey from Travel Health Insurance Association of Canada (THIA), 61 percent of Canadians are planning to travel this year, but 70 percent are unlikely to visit the US due to the current political environment. What’s more, according to Allianz’ own research, Canadians are planning to spend upwards of $25.5 billion on travel in 2025, with younger Canadians more likely to travel and 73 percent adding that an annual vacation is essential (Allianz 2025 Vacation Confidence Study).
“The need for travel insurance is there,” explains Opacic. “It’s about sharing that message and bringing awareness to the broker community, which plays a critical role in protecting Canadian travellers.”
Work-related accidents or mishaps
Directors & officers
Legal fees
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Auto liability
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Property damages and bodily injury
A few years ago, Allianz shifted to a “simplicity model,” revamping everything from products to sales software to make travel insurance easy for the broker community to understand and sell.
“Whether it’s policy wording, the purchase flow, or marketing materials – we really want people to have access to the best product that works well for both the broker and their client.”
Because, as Opacic tells IB, travel insurance really is an arm of risk management – it’s part of protecting your client.
“We wish people never had to use insurance, but at the end of the day, having people by your side throughout the entire journey – having our team support you in an unfamiliar place and ensure you’re well looked after – that’s so important to us and to your clients’
Riccardo Iacovino, Allianz Global Assistance Canada
“There’s a fiduciary duty to inform your clients of risks associated with travel,” he adds. “It’s no different than when you get in a car – there’s risk associated. I think most people see travel and associate it with happy times, which, of course, is what a vacation is about. However, they don’t realize that anytime you get on a plane, train, or car and cross a border, there’s inherent risk involved.”
And with people still very much keen to travel, not offering coverage to your customers isn’t just bad practice – it’s poor business acumen. As Opacic tells IB, Allianz’ Vacation Confidence Study has found that two-thirds of the people that are travelling abroad are planning to purchase insurance – so the demand is there.
“And if a client isn’t buying insurance from you, they’re buying it from someone else. This is a wonderful revenue stream for brokers – you’re doing your due diligence and offering it to your client base while making sure they stay protected both at home and abroad. It’s a win-win for everybody involved. The clients get their insurance, brokers get their revenue stream, and of course, Allianz is happy to provide that coverage too.”
With this penchant for travelling further and further abroad gaining momentum in Canada, individuals may not be well versed in foreign healthcare systems or even understand the local language at their destination – meaning that if an accident happens, it’s even more stressful. With Allianz, clients’ peace of mind begins with having an experienced, empathetic point of contact available at all times.
What do non profits need coverage for?
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Jumping out of a plane without a parachute
‘The need for travel insurance is there’
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Published May 22, 2025
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Copyright © 2025 KM Business Information Canada Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Copyright © 2025 KM Business Information Canada Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
Copyright © 2025 KM Business Information Canada Ltd
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Canadians still determined to travel in 2025
Canadian households anticipated to spend
$25.5B
on vacations
of Canadians say their annual vacation is important to them
66%
of travellers intend to secure some form of travel coverage for upcoming travel
90%
Source: Allianz Global Assistance Canada’s 2025 Vacation Confidence Index Study
‘If a client isn’t buying insurance from you, they’re buying it from someone else’
Telemedicine, 24/7
“Our teams are available 24/7,” adds Riccardo Iacovino, vice president, medical operations & medical provider management at Allianz Global Assistance Canada. “No matter where a client is on this planet, they will be able to reach out to Allianz’ emergency assistance team, medical experts, and case managers – and that’s an important part of our overall value proposition. We’re all about getting travellers to the right place at the right time with the exact care they need.”
Medical incidents are subjective too – what may seem like a non-issue of a bug bite could be a big deal for a worried parent. No matter what the incident, Allianz is there with you the whole way – and that kind of peace of mind is priceless.
“For instance, we offer telemedicine,” says Iacovino. “Meaning a customer can turn on their camera and connect with a licensed physician from anywhere in the world. That doctor will guide individuals, prescribing the right treatment too. It’s that value of support, of reassurance, that you’re not alone in this – and that regardless of geographical location we are with you.”
Source: THIA’s 2025 Smart Traveller Survey
61% of Canadians plan to travel this year – but 70% are unlikely to visit the US. The top reasons Canadians are avoiding travel to the US this year:
To support Canada during the tariff dispute
57%
Because of the political leadership
51%
Because the Canadian dollar is too weak
34%
Canadians avoid U.S. vacations in 2025
Travelling without travel insurance is a huge risk in today’s climate – with individuals who opt out of coverage often living to regret it. The repercussions, as Iacovino tells IB, aren’t just purely financial either; they’re psychological too.
“We wish people never had to use insurance, but at the end of the day, having people by your side throughout the entire journey – having our team support you in an unfamiliar place and ensure you’re well looked after – that’s so important to us and to your clients.”
Learn more about offering travel insurance to your clients here.
Follow Allianz Global Assistance Canada on LinkedIn to stay updated on the latest market insights.
“We wish people never had to use insurance, but at the end of the day, having people by your side throughout the entire journey – having our team support you in an unfamiliar place and ensure you’re well looked after – that’s so important to us and to your clients’
Riccardo Iacovino,
Allianz Global Assistance Canada
And with people still very much keen to travel, not offering coverage to your customers isn’t just bad practice – it’s poor business acumen. As Opacic tells IB, Allianz’ Vacation Confidence Study has found that two-thirds of the people that are travelling abroad are planning to purchase insurance – so the demand is there.
“And if a client isn’t buying insurance from you, they’re buying it from someone else. This is a wonderful revenue stream for brokers – you’re doing your due diligence and offering it to your client base while making sure they stay protected both at home and abroad. It’s a win-win for everybody involved. The clients get their insurance, brokers get their revenue stream, and of course, Allianz is happy to provide that coverage too.”
With this penchant for travelling further and further abroad gaining momentum in Canada, individuals may not be well versed in foreign healthcare systems or even understand the local language at their destination – meaning that if an accident happens, it’s even more stressful. With Allianz, clients’ peace of mind begins with having an experienced, empathetic point of contact available at all times.
“There’s a fiduciary duty to inform your clients of risks associated with travel,” he adds. “It’s no different than when you get in a car – there’s risk associated. I think most people see travel and associate it with happy times, which, of course, is what a vacation is about. However, they don’t realize that anytime you get on a plane, train, or car and cross a border, there’s inherent risk involved.”
A few years ago, Allianz shifted to a “simplicity model,” revamping everything from products to sales software to make travel insurance easy for the broker community to understand and sell.
“Whether it’s policy wording, the purchase flow, or marketing materials – we really want people to have access to the best product that works well for both the broker and their client.”
Because, as Opacic tells IB, travel insurance really is an arm of risk management – it’s part of protecting your client.
“Knowledge really is power here,” he tells IB. “It’s about being at the forefront of getting that information and spreading it across our networks. Because people are often busy in their daily lives, they often don’t fully understand what these tariffs or economic changes or geopolitical issues mean for them and their plans. We’re really trying to communicate frequently with the broker community to raise awareness. People are still travelling – that’s the important thing.”
Opacic believes there needs to be more awareness around why people need travel insurance – and the devastating knock-on effects if they don’t have it. Medical bills are so expensive in other countries – even relatively small procedures such as stitches or an injection or a cast can have a painful impact on someone’s financial well-being.
“You’re really jumping out of a plane without a parachute when travelling without coverage,” says Opacic.
Opacic explains that Allianz is revolutionizing the way clients perceive travel insurance through continuous education.
Jumping out of a plane without a parachute
“The need for travel insurance is there. It’s about sharing that message and bringing awareness to the broker community, which plays a critical role in protecting Canadian travellers”
Sasha Opacic,
Allianz Global Assistance Canada (Allianz)
WITH GEOPOLITICAL and economic tensions on the rise, more and more people are reevaluating their travel plans – especially Canadians looking to head across the border and into the US. However, that’s not to say that Canadians are putting a pin in travel altogether – in fact, people are looking at increasingly faraway destinations as their vacations of choice.
Speaking to IB, Sasha Opacic, vice president of business development at Allianz Global Assistance Canada (Allianz), explains that while the world is changing at a rapid pace, this serves as a good lesson to clients on just how important coverage is.
“We’re not selling insurance; we’re selling peace of mind,” he tells IB. “As the world becomes more complicated, whether travelling domestic or abroad, travel insurance is definitely a must.”
“Strangely, travel insurance doesn’t necessarily come up as part of traditional risk planning or financial planning,” he adds. “You talk about life insurance if you die, you talk about disability in case you get injured – but people don't realize how expensive accidents can be when vacationing in another country, especially in the US. One incident could have a catastrophic impact on your financial plan.”
Published May 22, 2025
For over 35 years, Allianz Global Assistance Canada has supported travelling Canadians and visitors when they need it most with value-added travel insurance and assistance services. We bring our passion for assisting people to life every day through our partnerships with well-known brands in the broker, travel, and financial services markets. Allianz Global Assistance Canada is a specialist brand of Allianz Partners. For more information, visit the Allianz Global Assistance Canada website.
Find out more