IASIS & ETI announce unique insurance partnership for Russian youth travel

Moscow, July 1st 2009 – IASIS have struck a deal with European Travel Insurance Group, ETI to provide specialised youth travel insurance coverage throughout Russia and the Ukraine. The deal is part of a broader plan to provide high-quality flexible travel insurances service throughout Eastern Europe, where the youth travel insurance market has great potential for development.

ETI, a common shareholding of Europäische Vienna and ERV Group, Munich, is currently the only Russian insurer specialising in travel insurance. With this new partnership ETI hope to make significant progress in the growing youth, student and work-abroad markets.

Julia Alcheeva, Director at ETI Travel is delighted with the move, “In a downturn it is particularly important to innovate and to keep seeking new partners and new sources of income. The fact that this deal targets the relatively recession-proof youth travel market makes it all the more timely and relevant.”

IASIS has targeted Eastern Europe as an area where there is great potential to provide quality services to young travellers. James Clarke, IASIS Manager, believes that Russia will be key to future growth, “Over the last 12 years we have seen an explosion in the amount of activity in youth travel coming from Russia and the Ukraine. Unfortunately, large numbers of young people have been travelling uninsured or under-insured. This deal with ETI is part of our goal to ensure that youth are travelling safely and coming home healthy.”

Once established, IASIS and Europaische hope to roll the product out in the Baltics, Balkans and other growing markets.