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Travel insurance is an insurance type that covers various loses that might be incurred during travel, such as medical expenses, lost luggage, trip cancellation, and accident, among others. Growth in tourism and rising globalization are the major factors that are expected to drive the growth of the travel insurance market. Countries such as Australia, Japan, and the US are witnessing increasing demand for travel insurance due to a high number of travelers in the region.
The reports cover key developments in the Travel Insurance market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Travel Insurance market are anticipated to lucrative growth opportunities in the future with the rising demand for renewable energy in the global market.
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Top Key Players in this Report includes, ACA Compliance Group Holdings, LLC, Aquis Technologies, b-next, CRISIL LIMITED, FIS, Nasdaq, Inc., OneMarketData, LLC., Scila, SIA S.P.A, Software AG
Growing volumes of travelers, growing awareness about travel insurance are the major factors that are expected to drive the growth of the travel insurance market. The market for travel insurance in the Asia-Pacific region is expected to grow at a significant rate owing to the growing tourism in the regions such as Thailand, India, and Singapore. The travel insurance market is highly fragmented with the presence of some of the major international players as well as regional player operating in the market.
The global travel insurance market is segmented on the basis of distribution channel, cover type, and end-user. Based on distribution channel, the market is segmented into insurance intermediaries, insurance companies, banks, insurance brokers, insurance aggregators, and others. On the basis of cover type the market is segmented as single trip, annual multi-trip, and long stay. On the basis of end-user the market is segmented as senior citizens, educational travelers, backpackers, business travelers, fully independent travelers, and others.
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The report analyzes factors affecting Travel Insurance market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Travel Insurance market in these regions.
Reason to Buy
– Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Travel Insurance Market
– Highlights key business priorities in order to assist companies to realign their business strategies.
– The key findings and recommendations highlight crucial progressive industry trends in the Travel Insurance Market, thereby allowing players to develop effective long term strategies.
– Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
– Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
– Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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