K-pop craze may spur demand for Income Insurance's hourly travel cover

The Singaporean insurer is targeting spontaneous travellers who love concerts.

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Income Insurance is banking on Millennials and Gen Zs crazy about K-pop to drive the demand for its hourly travel insurance plan, which has been expanded to over a dozen more destinations in Asia like South Korea.

Many young Singaporeans, particularly K-pop fans, are increasingly travelling overseas to watch concerts, a trend that the insurer seeks to capitalise on, Annie Chua, vice president and head of Key Accounts Management at Income Insurance, told Singapore Business Review.

Income Insurance noticed that more travellers from these age brackets are booking trips just days in advance, and it thinks its FlexiTravel Plus policy may just be the right product for them.

"There is an increasing trend of last-minute, spontaneous travellers, so we decided to come up with a flexible travel product that caters to this new behaviour," Chua said.