Direction: Student travel insurance

As global student mobility continues its upward trajectory, with projections estimating that seven million students will pursue higher education abroad by 2030, the significance of tailored insurance solutions has never been more pronounced.

“International students often have diverse needs based on their home countries, destinations and course requirements, and customizable plans allow them to select coverage that best suit their individual circumstances,” explains Claudia Reichstein, Head of International Programs at DR-WALTER GmbH .

GuardMe International Insurance www.guard.me has also introduced flexible options to address unforeseen events. “We have launched a rearrangement cover that provides financial protection for students who must reschedule their trips due to unforeseen events, ensuring minimal disruption to their academic journey,” says Nicoletta Pinto, Global Partnerships Strategist at Guard.me International Insurance .

These initiatives highlight the industry’s commitment to flexibility, ensuring that students receive coverage tailored to their individual circumstances rather than rigid plans. With international travel rebounding, insurance providers have reported an increase in demand for student policies.

“The growth primarily stems from the post-pandemic recovery of international mobility programs, the resumption of study-abroad initiatives, increased awareness of the importance of health coverage among students, parents, and institutions, and the implementation of mandatory insurance requirements by many educational institutions,” says Nicoletta. GuardMe, for instance, has reported a 20 per cent increase in demand over the past year.

Regionally, Latin America and Southeast Asia have emerged as strong markets for GuardMe’s international student insurance. “We have observed significant growth in Latin American and Southeast Asia student enrolments. Additionally, European destinations remain popular for short-term programs,” Nicoletta adds.

Meanwhile, Asia remains a strong source of outbound students. “We’ve seen growth from Asia, where more students and academics are choosing to study or visit both Europe and the USA. Australia has also become a very popular long-term travel destination again,” notes Linda Langin, President of CareMed International Travel Insurance .

These insights indicate a broadening demand for international student insurance solutions, particularly in emerging markets and long-term study destinations.

Rising healthcare costs and inflation are affecting the pricing of student insurance plans, leading providers to balance affordability with comprehensive coverage.

“We find it important to provide adequate and comprehensive coverage for students on a full degree program abroad and to not only make a price decision but also consider reasonable coverage and the option to extend the plan,” explains Claudia.

CareMed has focused on maintaining affordability while integrating digital health solutions to reduce costs. “While costs have risen somewhat, we have worked hard to maintain our affordability while maintaining our excellent comprehensive insurance options,” adds Linda.

A key takeaway here is that students should not just shop for the lowest price, but rather evaluate the benefits to ensure their plan covers long-term health needs rather than just emergency care.

A significant number of international students struggle with understanding their insurance policies, which can lead to delays in seeking medical help. A US-based study (bit.ly/4hJuAZK) found that more than half of international students surveyed often feel confused about their health insurance, and about 20 per cent have delayed or skipped care due to unfamiliarity with how their coverage works.

To combat this, providers are investing in education and accessibility. “We offer user-friendly websites that guide students to the insurance solution meeting their needs. That makes it easier for them to understand their options and make an educated decision,” says Claudia.

GuardMe has also prioritized education through direct engagement with students. “We work closely with institutions, agencies, and partners to provide clear, accessible information about the importance of insurance through webinars, pre-departure materials, and direct engagement with students,” explains Nicoletta.

At CareMed, the focus is on direct communication and customer support. “The relaunch of our website this year will allow us to better communicate our client-first approach. Clients and prospective clients have multiple ways of reaching us, and we are always ready to provide consultation and advice,” says Linda.

By making information easier to access and simplifying the decision-making process, providers are ensuring that students understand and use their coverage effectively.

Post-pandemic innovation

Kim Hoffart, Director of Sales at Ingle Lewer International Insurance, explains, “We built this program from scratch, specifically to solve issues educational institutions and students have faced in a post COVID-19 world.” The offering is intentionally broad: “Our Ingle Lewer portal for Students and Administrators includes Pillway (an on-line pharmacy with free home delivery), Legaroo (free access to legal counsel), Telemedicine (24/7 virtual access to Canadian Physicians), Togetherall and Healthy2Study.”

With its emphasis on fully integrated support, Kim says, “We have focused on the needs of the administrators and the health and safety of the international students.” By offering “comprehensive plans and embedded services with no additional costs,” the company aims to remove the financial trade-offs often associated with plan selection.

“We will continue to make waves in International Education through our holistic insurance strategies and ‘Wow!’ service we strive for,” Kim adds.

Mental health: a growing priority

The challenges of studying abroad can take a significant toll on students’ mental well-being. As awareness grows, insurance providers are expanding mental health support.

GuardMe has enhanced its coverage to provide comprehensive mental health support. “We are seeing an increase in younger students and those enrolled in pathway programs, who seek insurance solutions with additional non-medical benefits, such as mental health support,” says Nicoletta.

Similarly, CareMed has made mental health services a cornerstone of its offering. “Our policies also offer access to mental health services, which is something we feel helps our brand stand out,” says Linda.

Claudia highlights a similar trend: “There is a growing recognition of the importance of mental health among students, and they increasingly seek coverage options that include access to mental health professionals, counselling services, and telehealth.”

New provider Ingle Lewer has also placed a strong emphasis on embedded mental health support. “Togetherall (a peer to peer safe space to get anonymous support from your community supervised by counselors)” and “Healthy2Study (24/7 Mental health support with unlimited access to a certified counselor)” are both included in its package at no additional cost, as part of what it calls “a holistic package of protection.”

This shift reflects a broader industry trend towards holistic student support ensuring that mental health services are accessible.

As the landscape of international education continues to evolve, insurance providers are stepping up their offerings to ensure students are protected, informed, and supported.

From customizable plans and mental health support to pricing flexibility and educational initiatives, the industry is adapting to the changing needs of globally mobile students.

With rising enrolment numbers, increasing regional diversity, and an emphasis on student well-being, the future of international student insurance is one that prioritizes inclusivity, accessibility, and innovation. As Linda puts it, “It’s important to us at CareMed that our clients understand all of their options and are not surprised.”

For students and institutions alike, understanding these trends will be key to making the best insurance decisions in the future.