COMPANIES are bringing employees back together with team meetings and gatherings as a result of vaccinations and pent-up demand, according to this article by McKinsey.
However, uncertainty in travel restrictions may lead to changes in plans for business trips. To help corporate travellers save on air tickets and accommodation expenses due to unexpected trip cancellations, business travel management start-up TruTrip is offering them a subscription-based booking service.
Called TruFlex the option, launched in partnership with insurance company FWD Singapore, “provides an instant refund of at least 80% of incurred costs for travellers in the event of trip cancellations,” said the Singapore’s company in a statement.
According to TruTrip, business travel often comes with the need for extra flexibility. “Many business travellers are left to book at the last minute or book using flexible fares, leaving them to frequently pay more than 3x just to have more flexibility. While Covid-19 has led to many airlines reducing the cost of flexible fares this practice of charging extra for flexibility resurfaced, as the world recovers gradually from the pandemic.”
TruTrip said the service “is built for those looking to reduce overall travel costs at this sensitive time, without exposing their business to unnecessary risks or effective lock-ins.”
The service is offered at a subscription fee of S$20 (US$15) per month per company, plus a 12.8% fee charged on each travel booking.
Companies can cancel for any reason until 24 hours before their travel starts, and get refunded instantly in cash without tie-in to route or provider.
TruTrip describes TruFlex as “the first of its kind in the South-east Asian region”, which is available to users globally.”
“Unlimited by borders we believe TruFlex is a first-of-a-kind innovation that has been made possible with help from our friends at FWD,” said Hugh Batley, founder and managing director of TruTrip. “TruFlex offers our users a real alternative between the high-cost flexible fares and a ‘self-insure’ approach many businesses end up adopting.”
• Featured image credit: GeorgeRudy/Getty Images
