Global Travel Insurance Market


Global Travel Insurance Market

Global Travel Insurance Market was valued US$3.05 Bn in 2019 and is expected to reach US$XX Bn by 2026 at a CAGR of about XX % during a forecast.

Global Travel Insurance Market is segmented into by Product Type, by Industry, By Channel and by region. Based on Product Type, Travel Insurance Market is classified into Medical expense, Trip Cancellation, Trip Delay, Property Damage & Other. In Industry type are divided into Domestic Tourism & Oversea Tourism. By Channel section are into Direct Sales & Distributor. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global industry Analysis and forecast 2018-2026.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.


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Driving factors for the travel insurance market is Travelers are more likely to travel with an assurance of financial protection during the trip, rise of low-cost airlines, increase in the number of airport passengers, travellers can easily check out the benefits conditions applicable for the same, and even compare the premiums of various travel insurance policies and provides an extensive range of benefits for events, such as trip cancellation due to a medical emergency, loss of baggage, evacuation due to a medical condition or hijack, and loss of travel documents these factor can create more opportunity in travel insurance market.Huge expenses and lengthy process of claiming the bill can hamper the growth of Travel Insurance Market.

In terms of Industry, Oversea Tourism segment share the highest market during the forecast period. Rise in disposal income, changing lifestyle, rising better options for tours and travels, connecting the world via cheaper flight and better facilities, rising business standard at world level and the travel insurance policy of nature also compensates against passport or baggage loss, flight delays, and cancellations will open more opportunity in travel insurance market.

In terms of Channel, Direct Sales segment share the fastest growing market during the forecast period. Direct sales via online platform in travel insurance is a cost-effective way and less time consume to book, targeting specific audience, helps to build relationships with new customers and offer customers with compelling content they can share with potential customers.

Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Advances in technology, holiday entitlement, increased disposable incomes, effect of media and easy availability of holiday packages, government’s scheme visa on arrival scheme, rising population and emerging economics. The World Tourism Organization has predicted international tourist arrivals to reach 10 billion to reach 2030

Generali, AXA, Allianz, Munich RE, Hanse Merkur, AIG, CSA Travel Insurance, Groupama, Mapfre Asistencia, USI Affinity, Seven Corners, MH Ross, Tokio Marine, Sompo Japan, Pingan Baoxian, STARR, InsureandGo, Aviva PLC, American Express Company, MS&AD Insurance Group Holdings, China Pacific Life Insurance Co., Ltd, Atlas Travel Insurance Services Ltd.

The objective of the report is to present comprehensive analysis of Travel Insurance Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Travel Insurance Market dynamics, structure by analyzing the market segments, and project the Travel Insurance Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Bioprocess Technology Market make the report investor’s guide.
Scope of the Global Travel Insurance Market: Inquire before buying

Global Travel Insurance Market: By Product Type

• Medical expense
• Trip Cancellation
• Trip Delay
• Property Damage
• Other
Global Travel Insurance Market: By Industry

• Domestic Tourism
• Oversea Tourism
Global Travel Insurance Market: By Industry

• Direct Sales
• Distributor
Global Travel Insurance Market: By region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player analysed in the Global Travel Insurance Market:

• Generali
• Allianz
• Munich RE
• Hanse Merkur
• CSA Travel Insurance
• Groupama
• Mapfre Asistencia
• USI Affinity
• Seven Corners
• MH Ross
• Tokio Marine
• Sompo Japan
• Pingan Baoxian
• InsureandGo
• Aviva PLC
• American Express Company
• Ping An Insurance Company of China
• MS&AD Insurance Group Holdings
• China Pacific Life Insurance Co., Ltd
• Atlas Travel Insurance Services Ltd

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Keywords: global travel insurance market


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