TravelPerk Creates FlexiPerk Which Allows Users Cancellations
Daniel Johnson — August 2, 2019 — Tech
References: travelperk & techcrunch
TravelPerk has added a flexible refunds feature, titled FlexiPerk, which will allow users to cancel all of a trip to obtain a refund. However, a 10% fee will apply to individual booed elements of the trip. This means that the flexible refunds feature would allow travelers to cancel right up until the flight. Cancelation is also a streamlined process that only requires a few clicks. It is also indicated that there is no limit placed on the number of cancellations a user can make.
To access the feature, users will have to sign a FlexiPerk contract which states that they will pay a 10% cancelation fee should they cancel their travel plans.
The new feature is catered toward business trips, where flexibility is often a priority. TravelPerk states that 20% of businesses are altered from their original plan and this feature would allow for more flexibility for users.
Image Credit: TravelPerk
To access the feature, users will have to sign a FlexiPerk contract which states that they will pay a 10% cancelation fee should they cancel their travel plans.
The new feature is catered toward business trips, where flexibility is often a priority. TravelPerk states that 20% of businesses are altered from their original plan and this feature would allow for more flexibility for users.
Image Credit: TravelPerk
Trend Themes
1. Flexible Refunds - The trend of offering customizable refunds to travelers provides a competitive edge in the travel industry.
2. Streamlined Cancelation Process - Simplifying the cancelation process becomes a significant differentiator among travel platforms.
3. Contract-based Features - Offering feature add-ons through contract-based agreements provides new opportunities for personalized pricing models.
Industry Implications
1. Travel Platform - Travel platforms can take advantage of customizable refund options to differentiate themselves from competitors and attract more users.
2. Business Travel Management - Flexible refund options can become a valuable selling point for business travel management companies seeking to offer more affordable and flexible travel options for their clients.
3. Insurance Industry - Offering coverage for flexible refunds can open new revenue streams and opportunities to tailor insurance policies that suit the specific needs of travelers.
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