Iago Cabezas, Law graduate from the Autonomous University of Madrid. Travel Assistance Manager at AON.
How and when did you enter the insurance world?
I started 15 years ago when I joined RACE as a roadside assistance manager, answering calls from policyholders of various insurance companies. That’s where my journey in the insurance sector began, and it’s continued ever since.
How long have you specialized in travel insurance?
Thirteen years ago, I started working at CASER, where I began handling travel assistance claims. From there, I gradually took on more responsibility—becoming a supervisor of the Travel Assistance platform, then Coordinator, and eventually Technical Director of Travel Assistance. Today, I’m the Travel Assistance Manager at AON. I can proudly say that my entire professional career has been linked to travel insurance.
Are there major differences between insurance for educational stays and standard travel insurance?
Insurance specifically designed for students focuses on covering the unique needs that arise during an educational stay. These include key coverages like medical expenses, repatriation, and baggage protection. Additionally, special guarantees are incorporated, such as cancellation insurance in case of failed exams or unrecognized academic credits. These features clearly set them apart from conventional tourist insurance.
Which coverages are most in demand, and which are actually used the most?
All coverages exist for a reason, and many are interconnected and activated together. Medical expenses due to unexpected illness or accident are the most in demand. This guarantee often activates others that run in parallel and are extremely important for student insurance. For example, in the case of a student hospitalization, their parents can travel to accompany them at no cost. Also highly demanded and used is the trip cancellation coverage for unstarted travel—there are many covered reasons that ensure the student and their parents recover their investment if the trip can’t happen due to a justified cause.
We all know healthcare in the U.S. is very expensive. What have been the most dramatic incidents you’ve faced?
Healthcare in the U.S. is indeed extremely expensive. Even a simple consultation with a lab test can easily reach €3,000. And if the issue is more serious and requires hospitalization, costs skyrocket. Something as common among young people as appendicitis can carry an enormous cost. That’s why our policies include high medical coverage limits—up to €5 million, for example. We’ve handled complex and expensive cases due to health emergencies, but thanks to the insurance and our intervention, they were resolved successfully. Especially for students, it’s essential to travel with solid insurance that guarantees fast service and prevents them from having to front expenses.
Is Canada on the same cost level as the U.S.?
While Canada has a public healthcare system for permanent residents, temporary residents must cover medical costs out of pocket. Generally speaking, Canada, the U.S., and Japan are among the countries with the highest medical costs globally. Some countries are surprisingly expensive in terms of healthcare, even if they aren’t considered “costly” for other travel-related expenses.
Has Brexit led to more expensive or complicated claims?
So far, Brexit hasn’t caused significant complications in claims handling, as they are processed as usual. However, in terms of assistance costs, there has been a noticeable increase in recent years.
What coverages have you had to include to adapt to current times?
At AON, adaptability is one of our strongest traits—both in our products and our working approach. In recent years, we’ve developed innovative coverages such as Force Majeure, which offer protection against unexpected events like volcanic eruptions, pandemics, and other emergencies. We also proactively launched specific coverage for situations like the COVID-19 pandemic. Additionally, we’ve introduced telemedicine services, taking advantage of modern technology to enhance the solutions we offer.
Geopolitical uncertainty adds to customers’ sense of insecurity. Has this led to growth in cancellation insurance?
Cancellation insurance has seen notable growth due to geopolitical uncertainties, natural disasters, pandemics, and even unexpected local events like snap elections. These situations underscore the value of our coverages, which are designed to address a wide range of unforeseen events.
Our students often love their phones and laptops more than some of their friends. How have these travel companions been accounted for?
Insurance has evolved alongside students’ needs. We now include specific coverage for the theft of valuable items like laptops, tablets, and smartphones. These guarantees provide compensation within the policy limits, ensuring protection for their gadgets during travel.
What role should agencies play in supporting the evolution of insurance?
Agencies play a crucial role in the evolution of insurance. They not only educate customers about the importance of traveling with insurance and collect their needs, but also support them in managing claims. To make this easier, we’ve developed tools like Fast Track, which digitize and streamline the claims process—allowing for instant file creation and real-time tracking. We believe these solutions empower agencies, especially in areas that aren’t their core expertise.
To finish, what would you say to reassure parents—those who suffer most when sending their children off on these life-changing experiences?
As parents ourselves, we fully understand the excitement—and the worry—that comes with sending your child off on such an adventure. Having ASEPROCE involved guarantees the quality and professionalism of the companies working alongside them, always prioritizing the students’ best interests. For AON, it’s an honor to be among the selected companies, and we view assistance as a fundamental part of ensuring peace of mind for both parents and agencies. Our commitment to the students is 100%, and we work tirelessly for their wellbeing.
