WHY INSURANCE IS NON-NEGOTIABLE
The Meetings, Incentives, Conferences, and Exhibitions (MICE) industry has become one of the most powerful drivers of global tourism and economic activity. India is witnessing this growth firsthand, with major conventions, trade fairs, and incentive trips showcasing the country’s scale and potential. But as the industry expands, so do its risks. The stakes are far too high to leave protection as an afterthought.
Dev Karvat
Large-scale MICE events bring together multiple stakeholders: organisers, travel trade partners, corporates, venues, service providers, and thousands of delegates and corporate workforce from across the world. Here, even a single disruption can derail months of preparation.
A Call for Preparedness
Flight cancellations, delays, or lost baggage can spoil carefully curated MICE itineraries. Medical emergencies among delegates, especially during incentive activities, demand immediate response. Event cancellations due to unforeseen crises, from natural disasters to political unrest, can result in devastating financial losses. Moreover, organisers face liability risks where injuries, service failures, or contractual breaches could trigger legal claims and reputational damage. These are not hypothetical risks but very real scenarios the global industry has experienced, and India must address them with equal seriousness.
Seamless Protection for Every Stage
At Asego, we view travel assistance and insurance not just as safeguards but as enablers of confidence and professionalism. By embedding protection into the MICE journey, organisers and travel trade partners gain the freedom to focus on delivering extraordinary experiences while knowing they have a reliable backup against unforeseen events.
Our solutions are tailor-made for this sector, ranging from Asego WaitMate, offering exclusive lounge access during flight delays exceeding 60 minutes, to Asego TrackMate, providing real-time baggage tracking with compensation benefits. We also offer event cancellation cover that safeguards organisers from revenue loss. And for trips that involve high-adrenaline adventures or corporate engagements, our adventure sports protection ensures delegates are covered at every stage of their journey.
A Comprehensive Shield
To address the growing diversity of MICE formats, we have introduced specialised products. For travel at sea, our cruise trip protection solution covers medical needs onboard, missed port departures, and baggage delays, ensuring seamless journeys even in complex itineraries.
Furthermore, our liability protection solutions go a step further, safeguarding organisers against claims, disputes, and operational risks that could impact credibility. Extending this protection to travel agencies themselves, Asego’s Travel Business Protect offers a comprehensive shield against errors, omissions, operational exposures, office-related risks, and even identity theft, while also including emergency travel assistance for clients.
The compliance aspect is equally important. As the industry grows by leaps and bounds, regulators are watching closely, and global clients expect Indian organisers to meet international best practices. Asego ensures every solution we design is fully compliant, transparent, and tailored to industry needs and regulatory norms.
Real-Time Support Through Technology
Technology is another critical enabler. With our new Dolphin platform, available on both web and mobile, policies can be issued, endorsed, or extended in less than two minutes. For MICE organisers handling hundreds of delegates, this reduces friction, eliminates errors, and ensures compliance. The built-in sales dashboard also provides partners and corporates with complete transparency and control over their business, while the exclusive claims assistance module ensures that if a crisis does occur, support is real-time and resolution is seamless.
Breaking Perceptions
The perception that insurance adds unnecessary cost to an already expensive event is a myth we must break. In reality, insurance protects revenue streams, reduces liability exposure, and builds delegate confidence. By embedding structured assistance and insurance, whether through cruise protection, the Mate series, Travel Business Protect, or liability solutions – MICE organisers future-proof their business models, enhance client trust, and unlock ancillary revenue opportunities.
Partnering for Secure MICE Growth
India’s MICE industry has the ambition, scale, and creativity to compete globally. But with ambition comes responsibility, and with scale comes complexity. To truly position India as a trusted global MICE destination, it is quintessential to strengthen both our infrastructure and safety standards.
The future of MICE lies not in choosing between profit and protection but in recognising that one fuels the other. By making insurance and assistance a default part of the journey, we safeguard organisers, delegates, and the industry itself, while building the resilience and credibility needed for long-term growth.
At Asego, thus, our focus remains clear - to partner with travel trade partners and deliver simple, relevant products and round-the-clock assistance so both travellers and businesses can operate and grow with confidence in a volatile environment.
About the Author: Dev Karvat, Founder and CEO of Asego.