Travel Insurance Market - Global Industry Analysis

Travel Insurance Market By Insurance Cover (Single Trip Travel Insurance, Annual Trip Travel Insurance, Long Trip Travel Insurance), By End Users (Business Travelers, Senior Citizens, Education Travelers and others), By Distribution Channel (Insurance Companies, Banks and others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028

Published Date: 11-Jul-2021 Category: Healthcare Report Format : PDF Pages: 150 Report Code: ZMR-5936 Status : Published

The Global Travel Insurance Market accounted for USD 17.16 Billion in 2020 and is expected to reach USD 55.21 Billion by 2028, growing at a CAGR of 16.5% from 2021 to 2028.

Description

Global Travel Insurance Market Overview

The Global Travel Insurance Market accounted for USD 17.16 Billion in 2020 and is expected to reach USD 55.21 Billion by 2028, growing at a CAGR of 16.5% from 2021 to 2028.

Travel Insurance is a type of insurance which covers the costs and losses associated with the travel. It acts as a useful protection for those who travel domestically and abroad. Some of these insurances cover damage to personal property and rented equipment such as rental cars. The market is primarily driven by increased tourism nationally and internationally over the recent years. These days, many companies have been providing travel insurance with 24/7 emergency services such as cash wire assistance, replacing lost passports and re-booking canceled flights. These companies have also been offering customization options depending on the geographical location and as per the requirements of the individuals.

COVID-19 Impact Analysis

The global impacts of COVID-19 have negatively impacted the travel insurance market. Due to the restricted lockdowns all over the globe, there has been significant dip in the travel industry. As the overall travel rate has taken a significant dip, the number of people buying the travel insurance coverages has also gone considerably down. As the lockdowns are being lifted and people are travelling in some countries, gradually, the travel insurance market is also expected to have considerable demand.

Growth Factors

The increased tourism globally has increased the overall demand for the travel insurance market. The increase in the disposable income, extensive coverage for holidays and easy booking facilities have increased the demand for the market. To mitigate the uncertain occurrences such as canceled flights, accidents, health issues, loss of baggage, theft and natural calamities, travelers opt for the travel insurances.

Also, due to the technological advancements such as  geo-location, artificial intelligence, blockchain and big data, there has been considerable opportunities for the insurers in the market. Due to these technological developments, travel insurance platforms are expected to enhance the productivity for providing the coverages seamlessly at the point of purchase. The digital transformation has also enable the companies to create highly personalized experiences to the customers.

Report Scope: 

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Insurance Cover Analysis Preview

The Single trip generally covers a single oversees trip. These trip are suitable for those who are not making more than one trip per year. The demand for single trip insurance is high because it covers the features such as medical cover including repatriation, emergency dental treatment costs, loss of baggage, personal liability cover, trip interruption or cancellation, fire cover, missed flight connection and many more such services. Customers readily opt for single trip travel insurance due to their numerous features.

End User Analysis Preview

This is due to the fact that these travelers have to frequently oversee or even nationally due to their business requirements and demands. This business demand occurs for not only the customers who have their own businesses but also for those who work in the companies, and who have their scheduled visits over the specific period in the year. Therefore the overall demand for the travel insurance market is high from the business travelers.

Distribution Channel Analysis Preview

This is due to the fact that for a particular insurance demand, the customers always tend to approach the insurance companies instead of any third party vendor. The insurance companies rightly guide the travelers with the insurance packages as per their travel and help them to choose the right travel package for use. Also, insurance companies act as the trusted source of distributing these packages as they are ones with the authorized set of packages and they can rightly consult the customers about the travel insurance packages.

Regional Analysis Preview

North America held a share of 37% in 2020. It is supposed to be one of the highest revenue-generating regions for this market during the forecasted period. This high growth is due to the fact that there has been low dependency ratio, rise in disposable income and increase in travel among the baby boomers. The digitalization of distribution channels has also paved the way for higher demand of travel insurance packages. The rise in the number of outbound travelers in the region have made the high demand for this market in this region.

Asia-Pacific is expected to have the CAGR of 19.1% from 2021 to 2028. This is due to the fact that there has been significant demand for corporate travel insurance from countries such as China, Japan and Korea. The increasing travelers in countries such as India has been providing huge number of opportunities to insurance companies and also the travel agencies to tap into. Increasing awareness among the travelers about the advantages of the travel insurances has been beneficial for the travel insurance companies in the region.

Key Market Players & Competitive Landscape

Some of the key players in the Travel Insurance market include American Express Company, Allianz Partners, American International Group, Inc. (AIS), AXA Travel Insurance,  Arch Capital Group Limited, Aviva PLC, Sompo Holdings, Inc., Berkshire Hathaway Specialty Insurance, Groupama Sigorta AS, InsureandGo, China Pacific Insurance, (Group) Co., Ltd., Chubb Limited, Travelex Insurance Services Inc., Generali Group, HanseMerkur Reiseversicherung AG, Ping An Insurance Company of China, Ltd., Seven Corners, Inc., and Zurich Insurance Group AG among others.

In May 2019, Australian based Nib Holdings Ltd. completed the acquisition of QBE Insurance Group Ltd. for A$24.2 million. This acquisition includes the distribution and claims of QBE travel. This deal made Nib Holdings, Australia’s third largest travel insurer.

The Global Travel Insurance Market is segmented as follows:

By Insurance Cover

  • Single Trip Insurance
  • Annual Trip Insurance
  • Long Trip Travel Insurance

By End User

By Distribution Channel

  • Insurance Companies
  • Banks

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Insurance Cover
        • 2.1.1.2. Market Attractiveness Analysis, By End Users
        • 2.1.1.3. Market Attractiveness Analysis, By Distribution Channel
        • 2.1.1.4. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Travel Insurance Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Travel Insurance Market – Insurance Cover Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Insurance Cover, 2020 & 2028
    • 4.2. Single Trip Travel Insurance
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Annual Trip Travel Insurance
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Long Trip Travel Insurance
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Travel Insurance Market – End Users Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End Users, 2020 & 2028
    • 5.2. Business Travelers
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Senior Citizens
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Education Travelers
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Travel Insurance Market – Distribution Channel Segment Analysis
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By Distribution Channel, 2020 & 2028
    • 6.2. Insurance Companies
      • 6.2.1. Market Size and Forecast, By Region (USD Million)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.3. Banks
      • 6.3.1. Market Size and Forecast, By Region (USD Million)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Travel Insurance Market – Regional Analysis
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.2.2. North America Market Revenue, By Insurance Cover, 2016 – 2028
      • 7.2.3. North America Market Revenue, By End Users, 2016 – 2028
      • 7.2.4. North America Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.2.5. U.S.
        • 7.2.5.1. U.S. Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.2.5.2. U.S. Market Revenue, By End Users, 2016 – 2028
        • 7.2.5.3. U.S. Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.2.6. Canada
        • 7.2.6.1. Canada Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.2.6.2. Canada Market Revenue, By End Users, 2016 – 2028
        • 7.2.6.3. Canada Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.2.7. Mexico
        • 7.2.7.1. Mexico Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.2.7.2. Mexico Market Revenue, By End Users, 2016 – 2028
        • 7.2.7.3. Mexico Market Revenue, By Distribution Channel, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.3.2. Europe Market Revenue, By Insurance Cover, 2016 – 2028
      • 7.3.3. Europe Market Revenue, By End Users, 2016 – 2028
      • 7.3.4. Europe Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.3.5. Germany
        • 7.3.5.1. Germany Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.3.5.2. Germany Market Revenue, By End Users, 2016 – 2028
        • 7.3.5.3. Germany Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.3.6. France
        • 7.3.6.1. France Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.3.6.2. France Market Revenue, By End Users, 2016 – 2028
        • 7.3.6.3. France Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.3.7. U.K.
        • 7.3.7.1. U.K. Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.3.7.2. U.K. Market Revenue, By End Users, 2016 – 2028
        • 7.3.7.3. U.K. Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.3.8. Italy
        • 7.3.8.1. Italy Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.3.8.2. Italy Market Revenue, By End Users, 2016 – 2028
        • 7.3.8.3. Italy Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.3.9. Spain
        • 7.3.9.1. Spain Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.3.9.2. Spain Market Revenue, By End Users, 2016 – 2028
        • 7.3.9.3. Spain Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.3.10. Rest of Europe
        • 7.3.10.1. Rest of Europe Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.3.10.2. Rest of Europe Market Revenue, By End Users, 2016 – 2028
        • 7.3.10.3. Rest of Europe Market Revenue, By Distribution Channel, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.4.2. Asia Pacific Market Revenue, By Insurance Cover, 2016 – 2028
      • 7.4.3. Asia Pacific Market Revenue, By End Users, 2016 – 2028
      • 7.4.4. Asia Pacific Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.4.5. China
        • 7.4.5.1. China Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.4.5.2. China Market Revenue, By End Users, 2016 – 2028
        • 7.4.5.3. China Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.4.6. Japan
        • 7.4.6.1. Japan Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.4.6.2. Japan Market Revenue, By End Users, 2016 – 2028
        • 7.4.6.3. Japan Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.4.7. India
        • 7.4.7.1. India Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.4.7.2. India Market Revenue, By End Users, 2016 – 2028
        • 7.4.7.3. India Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.4.8.2. South Korea Market Revenue, By End Users, 2016 – 2028
        • 7.4.8.3. South Korea Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.4.9. South-East Asia
        • 7.4.9.1. South-East Asia Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.4.9.2. South-East Asia Market Revenue, By End Users, 2016 – 2028
        • 7.4.9.3. South-East Asia Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.4.10. Rest of Asia Pacific
        • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.4.10.2. Rest of Asia Pacific Market Revenue, By End Users, 2016 – 2028
        • 7.4.10.3. Rest of Asia Pacific Market Revenue, By Distribution Channel, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.5.2. Latin America Market Revenue, By Insurance Cover, 2016 – 2028
      • 7.5.3. Latin America Market Revenue, By End Users, 2016 – 2028
      • 7.5.4. Latin America Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.5.5. Brazil
        • 7.5.5.1. Brazil Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.5.5.2. Brazil Market Revenue, By End Users, 2016 – 2028
        • 7.5.5.3. Brazil Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.5.6. Argentina
        • 7.5.6.1. Argentina Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.5.6.2. Argentina Market Revenue, By End Users, 2016 – 2028
        • 7.5.6.3. Argentina Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.5.7. Rest of Latin America
        • 7.5.7.1. Rest of Latin America Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.5.7.2. Rest of Latin America Market Revenue, By End Users, 2016 – 2028
        • 7.5.7.3. Rest of Latin America Market Revenue, By Distribution Channel, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Insurance Cover, 2016 – 2028
      • 7.6.3. The Middle-East and Africa Market Revenue, By End Users, 2016 – 2028
      • 7.6.4. The Middle-East and Africa Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.6.5. GCC Countries
        • 7.6.5.1. GCC Countries Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.6.5.2. GCC Countries Market Revenue, By End Users, 2016 – 2028
        • 7.6.5.3. GCC Countries Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.6.6. South Africa
        • 7.6.6.1. South Africa Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.6.6.2. South Africa Market Revenue, By End Users, 2016 – 2028
        • 7.6.6.3. South Africa Market Revenue, By Distribution Channel, 2016 – 2028
      • 7.6.7. Rest of Middle-East Africa
        • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Insurance Cover, 2016 – 2028
        • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By End Users, 2016 – 2028
        • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By Distribution Channel, 2016 – 2028
  • Chapter No. 8 Travel Insurance Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Technology Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Travel Insurance Market: Company Market Share, 2019
      • 9.1.2. Global Travel Insurance Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 9.1.3. Global Travel Insurance Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Travel Insurance Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. American Express Company
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfolio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. Allianz Partners
    • 10.3. American International Group Inc. (AIS)
    • 10.4. AXA Travel Insurance
    • 10.5. Arch Capital Group Limited
    • 10.6. Aviva PLC
    • 10.7. Sompo Huldings, Inc.
    • 10.8. Berkshire Hathaway Specialty Insurance
    • 10.9. Groupama Sigorta AS
    • 10.10. InsureandGo
    • 10.11. China Pacific Insurance, (Group) Co. Ltd.
    • 10.12. Chubb Limited
    • 10.13. Travelex Insurance Services Inc.
    • 10.14. Generali Group
    • 10.15. HanseMerkur Reiseversicherung AG
    • 10.16. Ping An Insurance Company of China, Ltd.
    • 10.17. Seven Corners, Inc.
    • 10.18. Zurich Insurance Group AG
  • Chapter No. 11 Marketing Strategy Analysis
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical Environmental Change
  • Chapter No. 12 Research Methodology
    • 12.1. Research Methodology
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

Table Of Figures

List of Figures

FIG NO. 1. Market Attractiveness Analysis, By Insurance Cover
FIG NO. 2. Market Attractiveness Analysis, By End Users
FIG NO. 3. Market Attractiveness Analysis, By Distribution Channel
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Travel Insurance Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Insurance Cover, 2020 & 2028
FIG NO. 8. Global Travel Insurance Market for Single Trip Travel Insurance, Revenue (USD Million) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Travel Insurance Market for Single Trip Travel Insurance, By Country, 2020 & 2028
FIG NO. 10. Global Travel Insurance Market for Annual Trip Travel Insurance, Revenue (USD Million) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Travel Insurance Market for Annual Trip Travel Insurance, By Country, 2020 & 2028
FIG NO. 12. Global Travel Insurance Market for Long Trip Travel Insurance, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Travel Insurance Market for Long Trip Travel Insurance, By Country, 2020 & 2028
FIG NO. 14. Market Revenue Share, By End Users, 2020 & 2028
FIG NO. 15. Global Travel Insurance Market for Business Travelers, Revenue (USD Million) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Travel Insurance Market for Business Travelers, By Country, 2020 & 2028
FIG NO. 17. Global Travel Insurance Market for Senior Citizens, Revenue (USD Million) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Travel Insurance Market for Senior Citizens, By Country, 2020 & 2028
FIG NO. 19. Global Travel Insurance Market for Education Travelers, Revenue (USD Million) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Travel Insurance Market for Education Travelers, By Country, 2020 & 2028
FIG NO. 21. Market Revenue Share, By Distribution Channel, 2020 & 2028
FIG NO. 22. Global Travel Insurance Market for Insurance Companies, Revenue (USD Million) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Travel Insurance Market for Insurance Companies, By Country, 2020 & 2028
FIG NO. 24. Global Travel Insurance Market for Banks, Revenue (USD Million) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Travel Insurance Market for Banks, By Country, 2020 & 2028
FIG NO. 26. Global Travel Insurance Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Travel Insurance Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 28. Porter’s Five Forces Analysis for Global Travel Insurance Market
FIG NO. 29. PEST Analysis for Global Travel Insurance Market
FIG NO. 30. Pricing Analysis for Global Travel Insurance Market
FIG NO. 31. Value Chain Analysis for Global Travel Insurance Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. American Express Company Business Segment Revenue Share, 2020 (%)
FIG NO. 36. American Express Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
 


Table Of Tables

List of Tables

TABLE NO. 1. Global Travel Insurance Market: Snapshot
TABLE NO. 2. Quarterly Travel Insurance Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Travel Insurance Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Travel Insurance Market for Single Trip Travel Insurance, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Travel Insurance Market for Annual Trip Travel Insurance, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Travel Insurance Market for Long Trip Travel Insurance, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Travel Insurance Market for Business Travelers, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Travel Insurance Market for Senior Citizens, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Travel Insurance Market for Education Travelers, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Travel Insurance Market for Insurance Companies, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13. Global Travel Insurance Market for Banks, by Region, 2016 – 2028 (USD Million)
TABLE NO. 14. Global Travel Insurance Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 15. North America Travel Insurance Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 16. North America Travel Insurance Market Revenue, By Insurance Cover, 2016 – 2028 (USD Million)
TABLE NO. 17. North America Travel Insurance Market Revenue, By End Users, 2016 – 2028 (USD Million)
TABLE NO. 18. North America Travel Insurance Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 19. U.S. Travel Insurance Market Revenue, By Insurance Cover, 2016 – 2028 (USD Million)
TABLE NO. 20. U.S. Travel Insurance Market Revenue, By End Users, 2016 – 2028 (USD Million)
TABLE NO. 21. U.S. Travel Insurance Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 22. Canada Travel Insurance Market Revenue, By Insurance Cover, 2016 – 2028 (USD Million)
TABLE NO. 23. Canada Travel Insurance Market Revenue, By End Users, 2016 – 2028 (USD Million)
TABLE NO. 24. Canada Travel Insurance Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 25. Mexico Travel Insurance Market Revenue, By Insurance Cover, 2016 – 2028 (USD Million)
TABLE NO. 26. Mexico Travel Insurance Market Revenue, By End Users, 2016 – 2028 (USD Million)
TABLE NO. 27. Mexico Travel Insurance Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 28. Drivers for the Travel Insurance Market: Impact Analysis
TABLE NO. 29. Restraints for the Travel Insurance Market: Impact Analysis
TABLE NO. 30. Major Buyers of Travel Insurance
TABLE NO. 31. Distributors/Traders List of Travel Insurance
TABLE NO. 32. Global Travel Insurance Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 33. Global Travel Insurance Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)

Methodology

Choose License Type

FrequentlyAsked Questions

The Global Travel Insurance Market was valued at USD 17.16 Billion in 2020.

The Global Travel Insurance Market is expected to reach USD 55.21 Billion by 2028, growing at a CAGR of 16.5% between 2021 to 2028.

Some of the key factors driving the Global Travel Insurance Market growth are the increased tourism globally, the increase in the disposable income, extensive coverage for holidays and easy booking facilities have increased the demand for the market. To mitigate the uncertain occurrences such as canceled flights, accidents, health issues, loss of baggage, theft and natural calamities, travelers opt for the travel insurances.

North America held a share of 37% in 2020. It is supposed to be one of the highest revenue-generating regions for this market during the forecasted period. This high growth is due to the fact that there has been low dependency ratio, rise in disposable income and increase in travel among the baby boomers. The digitalization of distribution channels has also paved the way for higher demand of travel insurance packages. The rise in the number of outbound travelers in the region have made the high demand for this market in this region.

Some of the key players in the Travel Insurance market include American Express Company, Allianz Partners, American International Group, Inc. (AIS), AXA Travel Insurance,  Arch Capital Group Limited, Aviva PLC, Sompo Holdings, Inc., Berkshire Hathaway Specialty Insurance, Groupama Sigorta AS, InsureandGo, China Pacific Insurance, (Group) Co., Ltd., Chubb Limited, Travelex Insurance Services Inc., Generali Group, HanseMerkur Reiseversicherung AG, Ping An Insurance Company of China, Ltd., Seven Corners, Inc., and Zurich Insurance Group AG among others.

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • paypal
  • amazon
  • visa
  • master card

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed