As global travel and tourism industry seeks to protect itself better from sudden events, notably economic downturns or other shocks, the demand for data-driven, real-time insurance is rising sharply, says TMU Management, a leading insurance intermediary.

In a press statement, TMU Management says that as the travel industry’s data-driven insurance intermediary, it has registered a revenue increase of over 250 pc in its second year, as the company continues its mission to safeguard the travel value chain.

The statement adds that TMU Management, which was created by the team behind travel ensurance provider Trust My Group, uses proprietary technology to offer customisable, end-to-end risk management and mitigation solutions that have longevity through boom-and-bust cycles.

The company says that since its inception, it has equipped thousands of travel businesses with real-time data on their risk exposure, ensuring the travel industry is no longer unfairly deprived of insurance capacity during economic downturns.

Sami Doyle

“In just two years, we’ve demonstrated the power of data-driven risk management in transforming how industries like travel are perceived by insurers. Our clients, especially in the travel space, have faced significant hurdles in recent years, and it’s time the insurance industry steps up to offer the protection and consistency they deserve. We are proud to be leading this paradigm shift through technological solutions and are eager to continue pushing forward with new innovations and growth opportunities,” says Sami Doyle, CEO, TMU Management.

The statement adds that over the past year, the company complemented its core Financial Failure Insurance (FFI) product with two new products aimed at supporting acquiring banks, expanding its reach into fintech and financial institutions. This diversification has not only contributed to its financial success but has also paved the way for future developments, with new travel ancillary products slated for launch in 2025.

With revenue expected to double again in its third year, TMU Management is committed to disrupting the recurring pattern whereby insurance providers only service industries like travel during times of growth, leaving them underserved during downturns.

TMU’s proprietary technology integrates seamlessly with policyholders and insurance markets, using real-time data and analytics to support accurate, data-driven risk decisions. With its constantly evolving reporting capabilities, the company can access live data on individual businesses – irrespective of the macro environment – and offer bespoke products that provide comfort to insurers.

It adds that this pioneering approach has earned TMU a nomination for ‘Technology Provider of the Year’ at the 2024 Travel Industry Awards, recognising its role in reshaping risk management across the travel industry and beyond.