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Market Research Report

Global Travel Insurance Market Size study, by Insurance Cover, by Distribution Channel, by User and Regional Forecasts 2020-2027.

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Global Travel Insurance Market Size study, by Insurance Cover, by Distribution Channel, by User and Regional Forecasts 2020-2027.
Published: July 1, 2020 Content info:
Description

Title:
Global Travel Insurance Market Size study, by Insurance Cover (Single Trip Travel Insurance, Annual, Multi-Trip Travel Insurance, Long-Stay Travel Insurance), by Distribution Channel (Insurance Intermediaries, Insurance Company, Bank, Insurance Broker, Insurance Aggregator, Others), by User (Senior Citizen, Education Traveller, Backpacker, Business Traveller, Family Traveller, Fully independent Traveller) and Regional Forecasts 2020-2027..

Global Travel Insurance Market is valued approximately at USD 15.60 billion in 2019 and is anticipated to grow with a CAGR of 14.44% over the forecast period 2020-2027. Tourism accounts a significant share of International Trade services with rise in the number of international tourists worldwide. For Instance: As per data from United Nation World Tourism Organization, in the first half of 2019, 4% rise in the number of international tourists travel worldwide has been noticed. Such tremendous rise in the tourism industry over the years is the major factor driving the growth of the market over the forecast period. Further, with rising number of travelers, increasing awareness among young travelers regarding the need to secure their travels from medical and non-medical emergencies boosts the market growth. As per the reports by Account Activity Analysis (AAA) Foundation in 2018, 38% of the US population has increased and started investing in the travel insurance for future travels. Rise in the protection for trip cancellation and protect their monetary investment is the major priority for the travelers to opt for travel insurance. Travel insurance ensures security for the travel in several ways with the use of data analytics to predict precise and accurate plan for the traveler. For Instance: Insurer can monitor and predict the weather conditions of the travel destination so that the customer can plan the travel accordingly in advance to secure their time and investments. In order to differentiate their services from other companies, travel insurance providers differentiate their services with additional product offerings such as health cover, baggage lost, passport loss and many more. Moreover, surge in the purchase of travel insurance for the corporate travels has emerged in the companies supporting the growth of the market. However, lack of awareness among the middle and lower economy companies regarding the benefits of travel insurance is the major factor restraining the growth of the market over the forecasted period 2020-2027.

The regional analysis of global Travel Insurance market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world due to rise in the corporate travel insurance in countries such as China, Japan and Korea. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in awareness regarding the insurance along with growth in tourism in emerging countries such as India create lucrative growth for Travel Insurance Market in the region.

Major market player included in this report are:

Allianz SE (Germany)

Munich Reinsurance America (US)

American Express Company (US)

Travelex Insurance Services (US)

Bajaj Finserv Limited (India)

China Pacific Life Insurance Co., Ltd. (China)

MS&AD Insurance Group Holdings (Japan)

Munich Re Group (Germany)

Ping An Insurance (China)

Prudential Financial, Inc. (US)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Insurance Cover:

Single Trip Travel Insurance

Annual Multi-Trip Travel Insurance

Long-Stay Travel Insurance

By Distribution Channel:

Insurance Intermediaries

Insurance Company

Bank

Insurance Broker

Insurance Aggregator

Others

By User:

Senior Citizens

Education Traveller

Backpacker

Business Traveller

Family Traveller

Fully independent Traveller

By Region:

North America

U.S.

Canada

Europe

UK

Germany

Asia Pacific

China

India

Japan

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2016, 2017, 2018

Base year - 2019

Forecast period - 2020 to 2027

Target Audience of the Global Travel Insurance Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Table of Contents

Table of Contents

Chapter 1. Executive Summary

  • 1.1. Market Snapshot
  • 1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
    • 1.2.1. Travel Insurance Market, by Region, 2018-2027 (USD Billion)
    • 1.2.2. Travel Insurance Market, by Insurance Cover, 2018-2027 (USD Billion)
    • 1.2.3. Travel Insurance Market, by Distribution Channel, 2018-2027 (USD Billion)
    • 1.2.4. Travel Insurance Market, by User, 2018-2027 (USD Billion)
  • 1.3. Key Trends
  • 1.4. Estimation Methodology
  • 1.5. Research Assumption

Chapter 2. Global Travel Insurance Market Definition and Scope

  • 2.1. Objective of the Study
  • 2.2. Market Definition & Scope
    • 2.2.1. Scope of the Study
    • 2.2.2. Industry Evolution
  • 2.3. Years Considered for the Study
  • 2.4. Currency Conversion Rates

Chapter 3. Global Travel Insurance Market Dynamics

  • 3.1. Travel Insurance Market Impact Analysis (2018-2027)
    • 3.1.1. Market Drivers
    • 3.1.2. Market Challenges
    • 3.1.3. Market Opportunities

Chapter 4. Global Travel Insurance Market: Industry Analysis

  • 4.1. Porter's 5 Force Model
    • 4.1.1. Bargaining Power of Suppliers
    • 4.1.2. Bargaining Power of Buyers
    • 4.1.3. Threat of New Entrants
    • 4.1.4. Threat of Substitutes
    • 4.1.5. Competitive Rivalry
    • 4.1.6. Futuristic Approach to Porter's 5 Force Model (2017-2027)
  • 4.2. PEST Analysis
    • 4.2.1. Political
    • 4.2.2. Economical
    • 4.2.3. Social
    • 4.2.4. Technological
  • 4.3. Investment Adoption Model
  • 4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Travel Insurance Market, by Insurance Cover

  • 5.1. Market Snapshot
  • 5.2. Global Travel Insurance Market by Insurance Cover, Performance - Potential Analysis
  • 5.3. Global Travel Insurance Market Estimates & Forecasts by Insurance Cover 2017-2027 (USD Billion)
  • 5.4. Travel Insurance Market, Sub Segment Analysis
    • 5.4.1. Single Trip Travel Insurance
    • 5.4.2. Annual Multi-Trip Travel Insurance
    • 5.4.3. Long-Stay Travel Insurance

Chapter 6. Global Travel Insurance Market, by Distribution Channel

  • 6.1. Market Snapshot
  • 6.2. Global Travel Insurance Market by Distribution Channel, Performance - Potential Analysis
  • 6.3. Global Travel Insurance Market Estimates & Forecasts by Distribution Channel 2017-2027 (USD Billion)
  • 6.4. Travel Insurance Market, Sub Segment Analysis
    • 6.4.1. Insurance Intermediaries
    • 6.4.2. Insurance Company
    • 6.4.3. Bank
    • 6.4.4. Insurance Broker
    • 6.4.5. Insurance Aggregator
    • 6.4.6. Others

Chapter 7. Global Travel Insurance Market, by User

  • 7.1. Market Snapshot
  • 7.2. Global Travel Insurance Market by User, Performance - Potential Analysis
  • 7.3. Global Travel Insurance Market Estimates & Forecasts by User 2017-2027 (USD Billion)
  • 7.4. Travel Insurance Market, Sub Segment Analysis
    • 7.4.1. Senior Citizens
    • 7.4.2. Education Traveller
    • 7.4.3. Backpacker
    • 7.4.4. Business Traveller
    • 7.4.5. Family Traveller
    • 7.4.6. Fully independent Traveller

Chapter 8. Global Travel Insurance Market, Regional Analysis

  • 8.1. Travel Insurance Market, Regional Market Snapshot
  • 8.2. North America Travel Insurance Market
    • 8.2.1. U.S. Travel Insurance Market
      • 8.2.1.1. Insurance Cover breakdown estimates & forecasts, 2017-2027
      • 8.2.1.2. Distribution Channel breakdown estimates & forecasts, 2017-2027
      • 8.2.1.3. User breakdown estimates & forecasts, 2017-2027
    • 8.2.2. Canada Travel Insurance Market
  • 8.3. Europe Travel Insurance Market Snapshot
    • 8.3.1. U.K. Travel Insurance Market
    • 8.3.2. Germany Travel Insurance Market
    • 8.3.3. Rest of Europe Travel Insurance Market
  • 8.4. Asia-Pacific Travel Insurance Market Snapshot
    • 8.4.1. China Travel Insurance Market
    • 8.4.2. India Travel Insurance Market
    • 8.4.3. Japan Travel Insurance Market
    • 8.4.4. Rest of Asia Pacific Travel Insurance Market
  • 8.5. Latin America Travel Insurance Market Snapshot
    • 8.5.1. Brazil Travel Insurance Market
    • 8.5.2. Mexico Travel Insurance Market
  • 8.6. Rest of The World Travel Insurance Market

Chapter 9. Competitive Intelligence

  • 9.1. Top Market Strategies
  • 9.2. Company Profiles
    • 9.2.1. Allianz SE
      • 9.2.1.1. Key Information
      • 9.2.1.2. Overview
      • 9.2.1.3. Financial (Subject to Data Availability)
      • 9.2.1.4. Product Summary
      • 9.2.1.5. Recent Developments
    • 9.2.2. Munich Reinsurance America
    • 9.2.3. American Express Company
    • 9.2.4. Travelex Insurance Services
    • 9.2.5. Bajaj Finserv Limited
    • 9.2.6. China Pacific Life Insurance Co., Ltd.
    • 9.2.7. MS&AD Insurance Group Holdings
    • 9.2.8. Munich Re Group
    • 9.2.9. Ping An Insurance
    • 9.2.10. Prudential Financial, Inc.

Chapter 10. Research Process

  • 10.1. Research Process
    • 10.1.1. Data Mining
    • 10.1.2. Analysis
    • 10.1.3. Market Estimation
    • 10.1.4. Validation
    • 10.1.5. Publishing
  • 10.2. Research Attributes
  • 10.3. Research Assumption

LIST OF TABLES

  • TABLE 1. List of secondary sources, used in the study of global Travel Insurance market
  • TABLE 2. List of primary sources, used in the study of global Travel Insurance market
  • TABLE 3. Global Travel Insurance market, report scope
  • TABLE 4. Years considered for the study
  • TABLE 5. Exchange rates considered
  • TABLE 6. Global Travel Insurance market estimates & forecasts by region 2017-2027 (USD Billion)
  • TABLE 7. Global Travel Insurance market estimates & forecasts by Insurance Cover 2017-2027 (USD Billion)
  • TABLE 8. Global Travel Insurance market estimates & forecasts by Distribution Channel 2017-2027 (USD Billion)
  • TABLE 9. Global Travel Insurance market estimates & forecasts by User 2017-2027 (USD Billion)
  • TABLE 10. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 11. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 12. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 13. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 14. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 15. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 16. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 17. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 18. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 19. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 20. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 21. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 22. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 23. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 24. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 25. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 26. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 27. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 28. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 29. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 30. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 31. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 32. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 33. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 34. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 35. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 36. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 37. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 38. Global Travel Insurance market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 39. Global Travel Insurance market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 40. U.S. Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 41. U.S. Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 42. U.S. Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 43. U.S. Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 44. Canada Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 45. Canada Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 46. Canada Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 47. Canada Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 48. UK Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 49. UK Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 50. UK Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 51. UK Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 52. Germany Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 53. Germany Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 54. Germany Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 55. Germany Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 56. ROE Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 57. ROE Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 58. ROE Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 59. ROE Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 60. China Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 61. China Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 62. China Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 63. China Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 64. India Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 65. India Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 66. India Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 67. India Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 68. Japan Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 69. Japan Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 70. Japan Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 71. Japan Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 72. ROPAC Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 73. ROPAC Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 74. ROPAC Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 75. ROPAC Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 76. Brazil Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 77. Brazil Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 78. Brazil Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 79. Brazil Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 80. Mexico Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 81. Mexico Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 82. Mexico Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 83. Mexico Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 84. ROLA Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 85. ROLA Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 86. ROLA Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 87. ROLA Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 88. ROW Travel Insurance market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 89. ROW Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 90. ROW Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 91. ROW Travel Insurance market estimates & forecasts by segment 2017-2027 (USD Billion)

LIST OF FIGURES

  • FIG 1. Global Travel Insurance market, research methodology
  • FIG 2. Global Travel Insurance market, market estimation techniques
  • FIG 3. Global market size estimates & forecast methods
  • FIG 4. Global Travel Insurance market, key trends 2019
  • FIG 5. Global Travel Insurance market, growth prospects 2020-2026
  • FIG 6. Global Travel Insurance market, porters 5 force model
  • FIG 7. Global Travel Insurance market, pest analysis
  • FIG 8. Global Travel Insurance market, value chain analysis
  • FIG 9. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 10. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 11. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 12. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 13. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 14. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 15. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 16. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 17. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 18. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 19. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 20. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 21. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 22. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 23. Global Travel Insurance market by segment, 2017 & 2027 (USD Billion)
  • FIG 24. Global Travel Insurance market, regional snapshot 2017 & 2027
  • FIG 25. North America Travel Insurance market 2017 & 2027 (USD Billion)
  • FIG 26. Europe Travel Insurance market 2017 & 2027 (USD Billion)
  • FIG 27. Asia pacific Travel Insurance market 2017 & 2027 (USD Billion)
  • FIG 28. Latin America Travel Insurance market 2017 & 2027 (USD Billion)
  • FIG 29. Global Travel Insurance market, company market share analysis (2019)
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