Travel Insurance Market Size, Share, Demand & Trends Analysis by 2032
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, 2024 - 2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 4.69 Billion | USD 126.47 Billion | 44.2% | 2023 |
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
- 1.1. Report Description
- 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
- 2.1.1. Top Investment Pockets
- 2.2. Market Snapshot
- 2.3. Global Travel Insurance Market, 2016 – 2028 (USD Million)
- 2.4. Insights from Primary Respondents
- 2.1. Key Findings
- 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
- 3.1. Impact Assessment of COVID-19 Pandemic, By Region
- 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
- 4.1. Overview
- 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
- 5.1. Overview
- 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
- 6.1. Overview
- 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
- 7.1. Overview
- 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
- 9.1. Company Market Share Analysis – 2019
- 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
- 10.1. American Express Company
- 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
FrequentlyAsked Questions
The Global Travel Insurance Market was valued at US$ 4.69 Billion in 2023.
The Global Travel Insurance Market is expected to reach US$ 126.47 Billion by 2032, growing at a CAGR of about 44.2% from 2024 to 2032.
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 2023. 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.
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