Travel Insurance Global Market Report 2026

Travel insurance is a specialized insurance product designed to mitigate various risks associated with travel. It offers coverage for a range of potential issues such as medical expenses, flight cancellations, lost luggage, and other unforeseen losses that travelers may encounter during their journeys.

The two main categories of travel insurance are domestic and international. International travel insurance is tailored for individuals traveling outside their home country. The diverse types of travel insurance coverage include single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance, catering to the needs of different traveler segments such as senior citizens, corporate travelers, families, educational travelers, and more. The coverage provided by travel insurance encompasses aspects such as medical expenses, trip cancellation, trip delay, property damage, and other relevant scenarios. These insurance products are distributed through various channels, including insurance intermediaries, insurance companies, banks, insurance brokers, and other distribution channels.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have a limited direct impact on the travel insurance market but indirectly influence it through increased travel costs, airline ticket pricing, and cross-border service expenses. International travelers in North America and Europe are most affected due to higher travel-related costs, while Asia-Pacific sees moderate impact tied to outbound tourism flows. These cost pressures may reduce discretionary travel demand. However, they also encourage travelers to opt for comprehensive insurance coverage to mitigate rising travel risks and uncertainties.

The travel insurance market research report is one of a series of new reports from The Business Research Company that provides travel insurance market statistics, including travel insurance industry global market size, regional shares, competitors with a travel insurance market share, detailed travel insurance market segments, market trends and opportunities, and any further data you may need to thrive in the travel insurance industry. This travel insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The travel insurance market size has grown rapidly in recent years. It will grow from $30.77 billion in 2025 to $35.97 billion in 2026 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to growth in international travel volumes, increasing awareness of travel-related risks, expansion of online insurance distribution channels, rising medical travel expenses, adoption of bundled travel protection plans.

The travel insurance market size is expected to see rapid growth in the next few years. It will grow to $66.67 billion in 2030 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to increasing penetration of mobile-based insurance services, rising demand for real-time policy issuance, expansion of global tourism activities, growing use of data-driven underwriting, increasing focus on personalized travel protection. Major trends in the forecast period include rising adoption of digital travel insurance platforms, increasing demand for customized insurance coverage, growing use of ai-based risk assessment, expansion of on-demand and micro-insurance products, enhanced focus on seamless claims processing.

The rise in tourism is expected to drive the growth of the travel insurance market going forward. Tourism involves people traveling to and staying in places outside their usual environment for leisure, business, or other purposes. The increase in tourism is fueled by pent-up travel demand as global mobility improves and travelers resume international trips. Travel insurance supports tourists by providing financial protection against travel-related uncertainties, such as medical emergencies, trip disruptions, or lost baggage, enhancing overall travel security and convenience. For instance, in February 2024, according to the United Nations World Tourism Organization (UNWTO), a Spain-based UN agency, international tourism reached an estimated 1.3 billion arrivals in 2023, marking a 34% increase over 2022. Therefore, the rise in tourism is propelling the travel insurance market.

Travel insurance entities are increasingly directing their efforts toward technology-driven platforms to fortify and elevate their service offerings. These tech-driven platforms not only improve accessibility, personalization, and efficiency for travelers but also empower market players to deliver seamless experiences, personalized notifications, data-driven personalization, and automation in claims processing. A case in point is Battleface Inc., a US-based travel insurance provider, that, in January 2023, unveiled Robin Assist, a Platform as a Service (PaaS) designed to aid insurance carriers, brokers, managing general agents (MGAs), and self-insured enterprise partners in meeting their travel insurance needs. Robin Assist, a global API (application programming interface)-driven insurtech platform, offers comprehensive support for travel insurance, including round-the-clock multilingual customer assistance, efficient claims management, emergency medical evacuation and travel assistance, medical case management, medical care and cost containment networks, as well as the capability to facilitate immediate payments in over 140 currencies.

In July 2024, Allianz SE, a US-based financial services company, acquired Income Insurance Limited for an undisclosed amount. This acquisition is intended to strengthen Allianz SE's presence in the Asia-Pacific region by leveraging Income Insurance Limited's local expertise and market knowledge. As a result, Allianz SE aims to broaden its range of insurance products and services to better address the diverse needs of customers in Singapore and beyond.

Major companies operating in the travel insurance market report include Allianz Group, AXA S.A., Berkshire Hathaway Specialty Insurance Company, Zurich Insurance Group AG, American International Group Inc., American Express Company, Chubb Limited, Aviva Plc, Seven Corners Inc, Travelex Insurance Services Inc., Corporate Risks India Insurance Brokers Pvt Ltd, TATA AIG, New India Assurance, Oriental Insurance Company, ICICI Lombard General Insurance Company, United India Insurance, HDFC ERGO Non-Life Insurance Company, Fanhua Holdings, Insubuy LLC, China Life Insurance Company Limited, SafetyWing, Genki, Insured Nomads, Sompo Japan Nipponkoa Insurance Inc., Mitsui Sumitomo Insurance Co. Ltd., Ping An Insurance Company of China, People's Insurance Company (Group) of China, China Pacific Insurance (Group) Co. Ltd, New China Life Insurance, Marsh & McLennan Companies UK Limited, Aon UK Limited, Arthur J Gallagher & Co, Willis Towers Watson plc, Lloyd's of London Limited, Funk Gruppe GmbH, Ecclesia Holding GmbH, Hannover Re, Credit Agricole Assurances, Sogaz Insurance Group, Ingosstrakh Insurance Co, Marsh McLennan, UNIQA, Ceska Pojistovna, MetLife Inc., Assicurazioni Generali, Groupama, RSHB Insurance, Soglasie Insurance Company, Sberbank Insurance Company LLC, John Hancock Insurance Agency, Trawick International, USI Affinity Travel Insurance Services, GoReady Insurance, TU Agencia de Seguros Co, 111 Seguros Ltda, Agencia de Seguros, BSB Capital Corretora de Seguros, Indeniza Corretora em Balsas MA, Emirates Insurance Co., Sukoon Insurance, Union Insurance, Doha Insurance Group, Qatar Insurance Co, KIB Takaful Insurance Company, Gulf Insurance Group, Misr Life Insurance, QNB Alahli Life Insurance, Care Line Group, De Wet De Villiers, Travelinsure, Lensure Insurance Brokers CC, Travel Africa Insurance, Oojah Travel Protection, Takaful Insurance of Africa, Bryte Insurance Company Limited

Asia-Pacific was the largest region in the travel insurance market in 2025. The regions covered in the travel insurance market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the travel insurance market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The travel insurance market includes revenues earned by entities through evacuation insurance, baggage and personal items loss and life insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Travel Insurance Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses travel insurance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for travel insurance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The travel insurance market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Domestic; International
• 2) By Insurance Cover: Single-Trip Travel Insurance; Annual Multi-Trip Travel Insurance; Long-Stay Travel Insurance
• 3) By Coverage: Medical Expenses; Trip Cancellation; Trip Delay; Property Damage; Other Coverages
• 4) By Distribution Channel: Insurance Intermediaries; Insurance Companies; Banks; Other Distribution Channels
• 5) By End User: Senior Citizens; Corporate Travelers; Family Travelers; Education Travelers; Other End-Users
• Subsegments:
• 1) By Domestic: Trip Cancellation Insurance; Medical Expense Coverage; Baggage Loss Coverage; Emergency Assistance
• 2) By International: Trip Cancellation and Interruption Insurance; Emergency Medical and Evacuation Coverage; Travel Delay and Missed Connection Coverage; Lost or Stolen Baggage Insurance
• Companies Mentioned: Allianz Group; AXA S.A.; Berkshire Hathaway Specialty Insurance Company; Zurich Insurance Group AG; American International Group Inc.; American Express Company; Chubb Limited; Aviva Plc; Seven Corners Inc; Travelex Insurance Services Inc.; Corporate Risks India Insurance Brokers Pvt Ltd; TATA AIG; New India Assurance; Oriental Insurance Company; ICICI Lombard General Insurance Company; United India Insurance; HDFC ERGO Non-Life Insurance Company; Fanhua Holdings; Insubuy LLC; China Life Insurance Company Limited; SafetyWing; Genki; Insured Nomads; Sompo Japan Nipponkoa Insurance Inc.; Mitsui Sumitomo Insurance Co. Ltd.; Ping An Insurance Company of China; People's Insurance Company (Group) of China; China Pacific Insurance (Group) Co. Ltd; New China Life Insurance; Marsh & McLennan Companies UK Limited; Aon UK Limited; Arthur J Gallagher & Co; Willis Towers Watson plc; Lloyd's of London Limited; Funk Gruppe GmbH; Ecclesia Holding GmbH; Hannover Re; Credit Agricole Assurances; Sogaz Insurance Group; Ingosstrakh Insurance Co; Marsh McLennan; UNIQA; Ceska Pojistovna; MetLife Inc.; Assicurazioni Generali; Groupama; RSHB Insurance; Soglasie Insurance Company; Sberbank Insurance Company LLC; John Hancock Insurance Agency; Trawick International; USI Affinity Travel Insurance Services; GoReady Insurance; TU Agencia de Seguros Co; 111 Seguros Ltda; Agencia de Seguros; BSB Capital Corretora de Seguros; Indeniza Corretora em Balsas MA; Emirates Insurance Co.; Sukoon Insurance; Union Insurance; Doha Insurance Group; Qatar Insurance Co; KIB Takaful Insurance Company; Gulf Insurance Group; Misr Life Insurance; QNB Alahli Life Insurance; Care Line Group; De Wet De Villiers; Travelinsure; Lensure Insurance Brokers CC; Travel Africa Insurance; Oojah Travel Protection; Takaful Insurance of Africa; Bryte Insurance Company Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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