Global travel insurance industry to 2030

DUBLIN, May 30, 2022 /PRNewswire/ — The report “Travel Insurance Market by Type of Coverage, Distribution Channel and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” has been added to from ResearchAndMarkets.com offer.

The size of the global travel insurance market has been valued at $12.38 billion in 2020, and should reach $119.31 billion by 2030, growing at a CAGR of 26.1% from 2021 to 2030.

Travel insurance is a type of insurance that takes into account any unforeseen or unwanted loss that may occur while traveling (international or domestic). Typical travel insurance policies are normally designed to cover any medical emergency during the travel period, while more comprehensive travel insurance policies may also include trip cancellation, baggage loss, flight delays, civil liability and, among other things, unforeseen costs during the travel period.

Additionally, travel insurance can provide the traveler with a sense of security and safety when visiting a foreign country. However, with the downturn in the travel and hospitality segment caused by the outbreak of the COVID-19 pandemic, the global travel insurance industry also experienced a significant contraction during the period. Although the average travel scene is returning to pre-pandemic levels, the travel insurance market is also expected to grow in the coming years.

The growth of the global travel insurance market is driven by factors such as increase in tourism demand post-pandemic driving the growth of the travel insurance market. Additionally, government mandated travel policies are further fueling the growth of the travel insurance market. However, the low penetration of insurance policies limits the growth of this market. Conversely, new technological developments for the travel insurance industry are expected to provide ample opportunities for the expansion of the travel insurance market over the forecast period.

The global travel insurance market is segmented into coverage type, distribution channel, end user, and region. Based on the type of coverage, the market is divided into single trip travel insurance and multi-trip annual travel insurance. Based on distribution channel, it is separated into insurance intermediaries, insurance companies, banks, insurance brokers and insurance aggregators. According to the end user, it is differentiated into senior citizens, study travelers, business travelers, family travelers and others. Region wise it is analyzed through North America, Europe, Asia Pacificand LAMEA.

The global travel insurance market is dominated by key players such as ALLIANZ, AMERICAN INTERNATIONAL GROUP INC., Assicurazioni Generali SPA, AXA, Insure and Go Insurance Services Limited, Seven Corners Inc., Trip Mate Inc., Travel Insured International , Travel Safe Insurance and USI INSURANCE SERVICES LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Main benefits for stakeholders

  • The study provides an in-depth analysis of the global travel insurance market forecast along with current and future trends to explain the impending pockets of investment.
  • Information on major drivers, restraints and opportunities and their impact analysis on global travel insurance market trends are provided in the report.
  • Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the industry
  • Quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential

Main topics covered:

Chapter 1 Introduction

Chapter 2: Executive Summary

Chapter 3: Market Landscape
3.1. Market definition and scope
3.2. Main conclusions
3.2.1. Best Investment Pockets
3.2.2. Best Winning Strategies
3.3. Porter’s Five Forces Analysis
3.3.1. Bargaining power of suppliers
3.3.2. The threat of new entrants
3.3.3. The threat of substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining power among buyers
3.4. Market share analysis / Positioning of the best player
3.4.1. Market share analysis / Positioning of the best player 2020
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Constraints
3.5.3. Opportunities
3.6. Covid-19 impact analysis
3.7. Competitive heat map

Chapter 4: Travel insurance market, by type of coverage
4.1. Market overview
4.1.1 Market Size and Forecast, by Cover Type
4.2. Single trip travel insurance
4.2.1. Key Market Trends, Growth Drivers and Opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis, by country
4.3. Annual multi-trip travel insurance
4.3.1. Key Market Trends, Growth Drivers and Opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis, by country

Chapter 5: Travel Insurance Market, By Distribution Channel
5.1. Market overview
5.1.1 Market Size and Forecast, by Distribution Channel
5.2. Insurance intermediaries
5.2.1. Key Market Trends, Growth Drivers and Opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis, by country
5.3. Insurance companies
5.3.1. Key Market Trends, Growth Drivers and Opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis, by country
5.4. Banks
5.4.1. Key Market Trends, Growth Drivers and Opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis, by country
5.5. Insurance brokers
5.5.1. Key Market Trends, Growth Drivers and Opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis, by country
5.6. Insurance aggregators
5.6.1. Key Market Trends, Growth Drivers and Opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market share analysis, by country

Chapter 6: Travel Insurance Market, By End User
6.1. Market overview
6.1.1 Market Size and Forecast, by End User
6.2. The elderly
6.2.1. Key Market Trends, Growth Drivers and Opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis, by country
6.3. Education Travelers
6.3.1. Key Market Trends, Growth Drivers and Opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis, by country
6.4. business travelers
6.4.1. Key Market Trends, Growth Drivers and Opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis, by country
6.5. Family travelers
6.5.1. Key Market Trends, Growth Drivers and Opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis, by country
6.6. Others
6.6.1. Key Market Trends, Growth Drivers and Opportunities
6.6.2. Market size and forecast, by region
6.6.3. Market share analysis, by country

Chapter 7: Travel Insurance Market, By Region

Chapter 8: Company Profiles
8.1. Allianz SE
8.1.1. Company presentation
8.1.2. Key leaders
8.1.3. Company overview
8.1.4. Operating business areas
8.1.5. Product portfolio
8.1.6. Company performance
8.1.7. Key strategic moves and developments
8.2. American International Group Inc.
8.2.1. Company presentation
8.2.2. Key leaders
8.2.3. Company overview
8.2.4. Operating business areas
8.2.5. Product portfolio
8.2.6. Company Performance
8.2.7. Key strategic moves and developments
8.3. Assicurazioni Generali SPA
8.3.1. Company presentation
8.3.2. Key leaders
8.3.3. Company overview
8.3.4. Operating business areas
8.3.5. Product portfolio
8.3.6. Company performance
8.3.7. Key strategic moves and developments
8.4. Axa
8.4.1. Company presentation
8.4.2. Key leaders
8.4.3. Company overview
8.4.4. Operating business areas
8.4.5. Product portfolio
8.4.6. Company performance
8.4.7. Key strategic moves and developments
8.5. Insure and Go Insurance Services Limited
8.5.1. Company presentation
8.5.2. Key leaders
8.5.3. Company overview
8.5.4. Operating business areas
8.5.5. Product portfolio
8.5.6. Company Performance
8.5.7. Key strategic moves and developments
8.6. Travel Mate, Inc.
8.6.1. Company presentation
8.6.2. Key leaders
8.6.3. Company overview
8.6.4. Operating business areas
8.6.5. Product portfolio
8.6.6. Company performance
8.6.7. Key strategic moves and developments
8.7. Seven Corners, Inc.
8.7.1. Company presentation
8.7.2. Key leaders
8.7.3. Company overview
8.7.4. Operating business areas
8.7.5. Product portfolio
8.7.6. Company performance
8.7.7. Key strategic moves and developments
8.8. International insured trip
8.8.1. Company presentation
8.8.2. Key leaders
8.8.3. Company overview
8.8.4. Operating business areas
8.8.5. Product portfolio
8.8.6. Company performance
8.8.7. Key strategic moves and developments
8.9. Safe travel insurance
8.9.1. Company presentation
8.9.2. Key leaders
8.9.3. Company overview
8.9.4. Operating business areas
8.9.5. Product portfolio
8.9.6. Company Performance
8.9.7. Key strategic moves and developments
8.10. Usi Insurance Services, LLC
8.10.1. Company presentation
8.10.2. Key leaders
8.10.3. Company overview
8.10.4. Operating business areas
8.10.5. Product portfolio
8.10.6. Company performance
8.10.7. Key strategic moves and developments

For more information about this report visit https://www.researchandmarkets.com/r/ubuam4

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