Page 24 - StudyTravel Magazine May 2025 Issue

INSURANCE

DIRECTION

The international student demographic
includes students of varied backgrounds,
academic pursuits, and personal needs.
Recognising this diversity, insurance
providers are moving away from one-
size-fits-all policies, opting instead
for customisable plans. Delilah Kealy-
Roberts finds out more.

ASSOCIATED

s global student mobility With inter- Meanwhile,
continues its upward trajectory, national travel Asia remains a
Awith projections estimating that rebounding, strong source of
seven million students will pursue insurance provid- outbound students.
higher education abroad by 2030 ers have reported an “We’ve seen growth
(bit.ly/41Z8QmF), the significance of increase in demand for from Asia, where more

tailored insurance solutions has never student policies. students and academics
been more pronounced. “The growth primarily stems are choosing to study or visit both
“International students often have from the post-pandemic recovery of Europe and the USA. Australia has
diverse needs based on their home international mobility programmes, also become a very popular long-term
countries, destinations and course the resumption of study-abroad travel destination again,” notes Linda
requirements, and customisable initiatives, increased awareness of Langin, President of CareMed www.
plans allow them to select coverage the importance of health coverage caremed-travelinsurance.com.
that best suit their individual among students, parents, and These insights indicate a
circumstances,” explains Claudia institutions, and the implementation broadening demand for international
Reichstein, Head of International of mandatory insurance requirements student insurance solutions,
Programs at DR-WALTER www. by many educational institutions,” particularly in emerging markets and
dr-walter.com. says Nicoletta. GuardMe, for instance, long-term study destinations.
GuardMe International Insurance has reported a 20 per cent increase in Rising healthcare costs and
www.guard.me has also introduced demand over the past year. inflation are affecting the pricing

flexible options to address unforeseen of student insurance plans, leading

events. “We have launched a “We are always ready to providers to balance affordability with
rearrangement cover that provides provide consultation and comprehensive coverage.

financial protection for students advice” “We find it important to provide
who must reschedule their trips adequate and comprehensive cover-
due to unforeseen events, ensuring Regionally, Latin America and age for students on a full degree pro-
minimal disruption to their academic Southeast Asia have emerged as gramme abroad and to not only make
journey,” says Nicoletta Pinto, Global strong markets for GuardMe’s inter- a price decision but also consider
Partnerships Strategist at GuardMe. national student insurance. “We have reasonable coverage and the option to

These initiatives highlight the observed significant growth in Latin extend the plan,” explains Claudia.
industry’s commitment to flexibility, American and Southeast Asia student CareMed has focused on

ensuring that students receive enrolments. Additionally, European maintaining affordability while
coverage tailored to their individual destinations remain popular for short- integrating digital health
circumstances rather than rigid plans. term programmes,” Nicoletta adds. solutions to reduce
Photos: DR-WALTER (top) and GuardMe (bottom) MAY 2025 21