PUNE, Jan. 24, 2023 (GLOBE NEWSWIRE) — “Travel Insurance Market” Insights 2023 : Travel insurance is a product focused on protecting policyholders against specified losses, accidents or other adverse events, which may occur before or during travel. Examples include trip cancellation/interruption, overseas medical expenses for injury or illness, theft of valuables, and baggage delay or damage. Many travel insurance policies also include the provision of emergency medical assistance services, such as call center operating 24 hours, seven days a week, and an international network of specialist health care providers.
There are standard general exclusions and invalidations on most types of travel insurance policies (for example, self‑inﬂicted injury, acts of terrorism, non‑approved pre‑existing medical conditions, “dangerous” or extreme activities, and policyholders being under the inﬂuence of alcohol or drugs). Travel insurance is generally available in two forms: (i) as a single-trip insurance policy, which provides cover for a specific trip and is matched to the exact characteristic of the trip (e.g. number of travelling days and destination) and (ii) as an annual insurance policy, which covers multiple trips in a year. Travel insurance can be purchased from travel agents, travel suppliers (airlines, hotels, cruise lines, tour operators) a private insurance firm, insurance brokers, or online. The GWP in this report all refer to the Gross written premium from Travel Insurance. The characteristics of fine travel insurance unit of measurement as follow:
Researcher’s newest research report, the “Travel Insurance Industry Forecast” looks at past sales and reviews total world Travel Insurance sales in 2022, providing a comprehensive analysis by region and market sector of projected Travel Insurance sales for 2023 through 2029. With Travel Insurance sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Travel Insurance industry.
This Insight Report provides a comprehensive analysis of the global Travel Insurance landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Travel Insurance portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Travel Insurance market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Travel Insurance and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Travel Insurance.
The global Travel Insurance market size is projected to grow from US$ 20380 million in 2022 to US$ 32170 million in 2029; it is expected to grow at a CAGR of 6.7% from 2023 to 2029.
The main global Travel Insurance players include Allianz, Munich Re Group, AIG, etc. The top three Travel Insurance players account for approximately 30% of the total global market. Asia-Pacific is the largest consumer market for Travel Insurance, accounting for about 26%, followed by Europe and North America. In terms of product, Trip Cancellation is the largest segment, with a share about 45%. And in terms of application, the largest application is Family Traveler, followed by Business Traveler.
This report presents a comprehensive overview, market shares, and growth opportunities of Travel Insurance market by product type, application, key players and key regions and countries.
Travel Insurance Market Research Report is spread across 114 Pages and provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Precious Metals market?
Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and we elaborate at full length on the impact of the pandemic and the war on the Precious Metals Industry.
Final Report will add the analysis of the impact of COVID-19 on this industry.
The Global Travel Insurance market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2029. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Travel Insurance Market – Segmentation Analysis:
Report further studies the market development status and future Travel Insurance Market trend across the world. Also, it splits Travel Insurance market Segmentation by Type and by Applications to fully and deeply research and reveal market profile and prospects.
Based on types, the Precious Metals market from 2018 to 2029 is primarily split into Trip Cancellation, Trip Delay, Medical Expense, Property Damage, Other
Which growth factors drives the Travel Insurance market growth?
Increasing use of Family Traveler, Senior Citizens, Business Traveler, Other is expected to drive the growth of the Travel Insurance Market.
Which market dynamics affect the business?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. With this information, stakeholders will be more capable of developing new strategies, which focus on market opportunities that will benefit them, making their business endeavours profitable in the process.
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Travel Insurance Market – Competitive Analysis:
2. How do you determine the list of the key players included in the report?
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Please find the key player list in Summary.
Who are the leading players in Travel Insurance market?
3. What are your main data sources?
Both Primary and Secondary data sources are being used while compiling the report.
Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.
Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.
Please find a more complete list of data sources in Chapters
Travel Insurance Market – Regional Analysis:
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Travel Insurance in these regions, from 2015 to 2027, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Some of the key questions answered in this report:
What is the global (North America, Europe, Asia-Pacific, South America, Middle East & Africa) sales value, production value, consumption value, import and export of Travel Insurance?
Who are the global key manufacturers of the Travel Insurance Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
What are the Travel Insurance market opportunities and threats faced by the vendors in the global Travel Insurance Industry?
Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
What focused approach and constraints are holding the Travel Insurance market?
What are the different sales, marketing, and distribution channels in the global industry?
What are the upstream raw materials and manufacturing equipment of Travel Insurance along with the manufacturing process of Travel Insurance?
What are the key market trends impacting the growth of the Travel Insurance market?
Economic impact on the Travel Insurance industry and development trend of the Travel Insurance industry.
What are the market opportunities, market risk, and market overview of the Travel Insurance market?
What are the key drivers, restraints, opportunities, and challenges of the Travel Insurance market, and how they are expected to impact the market?
What is the Travel Insurance market size at the regional and country-level?
4. Can I modify the scope of the report and customize it to suit my requirements?
Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.
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Detailed TOC of Global Travel Insurance Market Growth (Status and Outlook) 2023-2029
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Travel Insurance Market Size 2018-2029
2.1.2 Travel Insurance Market Size CAGR by Region 2018 VS 2022 VS 2029
2.2 Travel Insurance Segment by Type
2.2.1 Trip Cancellation
2.2.2 Trip Delay
2.2.3 Medical Expense
2.2.4 Property Damage
2.3 Travel Insurance Market Size by Type
2.3.1 Travel Insurance Market Size CAGR by Type (2018 VS 2022 VS 2029)
2.3.2 Global Travel Insurance Market Size Market Share by Type (2018-2023)
2.4 Travel Insurance Segment by Application
2.4.1 Family Traveler
2.4.2 Senior Citizens
2.4.3 Business Traveler
2.5 Travel Insurance Market Size by Application
2.5.1 Travel Insurance Market Size CAGR by Application (2018 VS 2022 VS 2029)
2.5.2 Global Travel Insurance Market Size Market Share by Application (2018-2023)
3 Travel Insurance Market Size by Player
3.1 Travel Insurance Market Size Market Share by Players
3.1.1 Global Travel Insurance Revenue by Players (2018-2023)
3.1.2 Global Travel Insurance Revenue Market Share by Players (2018-2023)
3.2 Global Travel Insurance Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2021-2023)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Travel Insurance by Regions
4.1 Travel Insurance Market Size by Regions (2018-2023)
4.2 Americas Travel Insurance Market Size Growth (2018-2023)
4.3 APAC Travel Insurance Market Size Growth (2018-2023)
4.4 Europe Travel Insurance Market Size Growth (2018-2023)
4.5 Middle East & Africa Travel Insurance Market Size Growth (2018-2023)
5.1 Americas Travel Insurance Market Size by Country (2018-2023)
5.2 Americas Travel Insurance Market Size by Type (2018-2023)
5.3 Americas Travel Insurance Market Size by Application (2018-2023)
5.4 United States
6.1 APAC Travel Insurance Market Size by Region (2018-2023)
6.2 APAC Travel Insurance Market Size by Type (2018-2023)
6.3 APAC Travel Insurance Market Size by Application (2018-2023)
6.7 Southeast Asia
7.1 Europe Travel Insurance by Country (2018-2023)
7.2 Europe Travel Insurance Market Size by Type (2018-2023)
7.3 Europe Travel Insurance Market Size by Application (2018-2023)
8 Middle East & Africa
8.1 Middle East & Africa Travel Insurance by Region (2018-2023)
8.2 Middle East & Africa Travel Insurance Market Size by Type (2018-2023)
8.3 Middle East & Africa Travel Insurance Market Size by Application (2018-2023)
8.5 South Africa
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global Travel Insurance Market Forecast
10.1 Global Travel Insurance Forecast by Regions (2024-2029)
10.1.1 Global Travel Insurance Forecast by Regions (2024-2029)
10.1.2 Americas Travel Insurance Forecast
10.1.3 APAC Travel Insurance Forecast
10.1.4 Europe Travel Insurance Forecast
10.1.5 Middle East & Africa Travel Insurance Forecast
10.2 Americas Travel Insurance Forecast by Country (2024-2029)
10.2.1 United States Travel Insurance Market Forecast
10.2.2 Canada Travel Insurance Market Forecast
10.2.3 Mexico Travel Insurance Market Forecast
10.2.4 Brazil Travel Insurance Market Forecast
10.3 APAC Travel Insurance Forecast by Region (2024-2029)
10.3.1 China Travel Insurance Market Forecast
10.3.2 Japan Travel Insurance Market Forecast
10.3.3 Korea Travel Insurance Market Forecast
10.3.4 Southeast Asia Travel Insurance Market Forecast
10.3.5 India Travel Insurance Market Forecast
10.3.6 Australia Travel Insurance Market Forecast
10.4 Europe Travel Insurance Forecast by Country (2024-2029)
10.4.1 Germany Travel Insurance Market Forecast
10.4.2 France Travel Insurance Market Forecast
10.4.3 UK Travel Insurance Market Forecast
10.4.4 Italy Travel Insurance Market Forecast
10.4.5 Russia Travel Insurance Market Forecast
10.5 Middle East & Africa Travel Insurance Forecast by Region (2024-2029)
10.5.1 Egypt Travel Insurance Market Forecast
10.5.2 South Africa Travel Insurance Market Forecast
10.5.3 Israel Travel Insurance Market Forecast
10.5.4 Turkey Travel Insurance Market Forecast
10.5.5 GCC Countries Travel Insurance Market Forecast
10.6 Global Travel Insurance Forecast by Type (2024-2029)
10.7 Global Travel Insurance Forecast by Application (2024-2029)
11 Key Players Analysis
11.1.1 Allianz Company Information
11.1.2 Allianz Travel Insurance Product Offered
11.1.3 Allianz Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.1.4 Allianz Main Business Overview
11.1.5 Allianz Latest Developments
11.2 Munich Re Group
11.2.1 Munich Re Group Company Information
11.2.2 Munich Re Group Travel Insurance Product Offered
11.2.3 Munich Re Group Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.2.4 Munich Re Group Main Business Overview
11.2.5 Munich Re Group Latest Developments
11.3.1 AIG Company Information
11.3.2 AIG Travel Insurance Product Offered
11.3.3 AIG Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.3.4 AIG Main Business Overview
11.3.5 AIG Latest Developments
11.4 Assicurazioni Generali
11.4.1 Assicurazioni Generali Company Information
11.4.2 Assicurazioni Generali Travel Insurance Product Offered
11.4.3 Assicurazioni Generali Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.4.4 Assicurazioni Generali Main Business Overview
11.4.5 Assicurazioni Generali Latest Developments
11.5.1 Prudential Company Information
11.5.2 Prudential Travel Insurance Product Offered
11.5.3 Prudential Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.5.4 Prudential Main Business Overview
11.5.5 Prudential Latest Developments
11.6.1 ACE&Chubb Company Information
11.6.2 ACE&Chubb Travel Insurance Product Offered
11.6.3 ACE&Chubb Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.6.4 ACE&Chubb Main Business Overview
11.6.5 ACE&Chubb Latest Developments
11.7.1 Manulife Company Information
11.7.2 Manulife Travel Insurance Product Offered
11.7.3 Manulife Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.7.4 Manulife Main Business Overview
11.7.5 Manulife Latest Developments
11.8 UnitedHealthcare Global
11.8.1 UnitedHealthcare Global Company Information
11.8.2 UnitedHealthcare Global Travel Insurance Product Offered
11.8.3 UnitedHealthcare Global Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.8.4 UnitedHealthcare Global Main Business Overview
11.8.5 UnitedHealthcare Global Latest Developments
11.9.1 Mapfre Company Information
11.9.2 Mapfre Travel Insurance Product Offered
11.9.3 Mapfre Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.9.4 Mapfre Main Business Overview
11.9.5 Mapfre Latest Developments
11.10.1 AXA Company Information
11.10.2 AXA Travel Insurance Product Offered
11.10.3 AXA Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.10.4 AXA Main Business Overview
11.10.5 AXA Latest Developments
11.11 Tokio Marine Holdings
11.11.1 Tokio Marine Holdings Company Information
11.11.2 Tokio Marine Holdings Travel Insurance Product Offered
11.11.3 Tokio Marine Holdings Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.11.4 Tokio Marine Holdings Main Business Overview
11.11.5 Tokio Marine Holdings Latest Developments
11.12 China Pacific insurance
11.12.1 China Pacific insurance Company Information
11.12.2 China Pacific insurance Travel Insurance Product Offered
11.12.3 China Pacific insurance Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.12.4 China Pacific insurance Main Business Overview
11.12.5 China Pacific insurance Latest Developments
11.13 Hanse Merkur
11.13.1 Hanse Merkur Company Information
11.13.2 Hanse Merkur Travel Insurance Product Offered
11.13.3 Hanse Merkur Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.13.4 Hanse Merkur Main Business Overview
11.13.5 Hanse Merkur Latest Developments
11.14 Ping An Insurance (Group) Company of China
11.14.1 Ping An Insurance (Group) Company of China Company Information
11.14.2 Ping An Insurance (Group) Company of China Travel Insurance Product Offered
11.14.3 Ping An Insurance (Group) Company of China Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.14.4 Ping An Insurance (Group) Company of China Main Business Overview
11.14.5 Ping An Insurance (Group) Company of China Latest Developments
11.15 People’s insurance company of China
11.15.1 People’s insurance company of China Company Information
11.15.2 People’s insurance company of China Travel Insurance Product Offered
11.15.3 People’s insurance company of China Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.15.4 People’s insurance company of China Main Business Overview
11.15.5 People’s insurance company of China Latest Developments
11.16 China Life
11.16.1 China Life Company Information
11.16.2 China Life Travel Insurance Product Offered
11.16.3 China Life Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.16.4 China Life Main Business Overview
11.16.5 China Life Latest Developments
11.17 Sompo Japan Nipponkoa
11.17.1 Sompo Japan Nipponkoa Company Information
11.17.2 Sompo Japan Nipponkoa Travel Insurance Product Offered
11.17.3 Sompo Japan Nipponkoa Travel Insurance Revenue, Gross Margin and Market Share (2018-2023)
11.17.4 Sompo Japan Nipponkoa Main Business Overview
11.17.5 Sompo Japan Nipponkoa Latest Developments
12 Research Findings and Conclusion
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