Travel insurance firm NTUC Income, has come up with a new way of making sure travellers are protected against the seemingly random and unpredictable nature of airline’s tickets prices, which essentially force customers to on the spot, lest they find the price has rocketed just a few minutes later.

Dubbed as Pinfare, the price assurance scheme will give Singaporean travellers the flexibility to plan and research different flights without the worry of increasing prices. Which means Singaporeans can miss out on savings of anything between 15% and 31% on air travel.

Through Skyscanner, the protection gives participants real-time flight itineraries and prices every time when a traveller searches the platform to pin flights. Once pinned, the flight itineraries are insured by Pinfare for seven days and the traveller is protected should the price of any of the pinned itineraries increases at the point of purchase within the insured period. When this happens, an insurance claim can be made.

“Reimagined traditional travel insurance”

NTUC Income’s COO, Peter Tay, said: “Singaporeans are one of the most travelled citizens in the world. This prompts us to assess the customer journey, starting from when travellers begin to plan their journey, to determine opportunities where we can improve their experience with insurance offerings and services. As one of the leading travel insurers in Singapore, we are excited to have reimagined traditional travel insurance with Pinfare to offer our customers peace of mind even before they embark on their travels.”

“The traveller is at the heart of everything that we do at Skyscanner. Through our proprietary technology and products, we strive to make travel search simple,” said Hugh Aitken, Skyscanner’s senior director strategic partnerships. “We are excited to announce our latest partnership with Income.

Pinfare, powered by Skyscanner, allows travellers to be more flexible with their planning and booking without losing out on value or choice. This is a great example of how Skyscanner works collaboratively with global partners to offer the best solutions for travellers so they have more time to enjoy their next adventure.”

 Currently, Pinfare insures economy flights to six countries including Malaysia, Indonesia, Thailand, Vietnam, Philippines and Hong Kong, with further coverage rolling out during 2019.