The ‘ Travel Insurance market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview, Travel Insurance market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Travel Insurance market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence.
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Travel insurance is an insurance product, which is designed to cover unforeseeable events incurred while travelling, either internationally or domestically. Generally, it provides coverages for emergency medical expenses, trip cancellation, flight delays, lost luggage, public liability, and other expenses to minimize the risks during travel. In addition, depending on coverages, travel insurance providers offer different plans by covering costs and losses associated with traveling.
Further, several intermediaries in distribution channel such as insurance aggregators, banks, insurance brokers providing consumers with various options to compare products and prices, suggest suitable policies, and others. Moreover, international travel insurance is mandatory for tourists who visit countries such as Thailand, Cuba, Antarctica, Schengen countries, the U.S., and UAE.
Increased usage of smartphones and internet for online travel insurance purchases via direct airline sites, online travel agencies (OTAs), and company websites & applications are gaining momentum space and are contributing to the growth of the online travel insurance market. In addition, rise in tourism due to an increase in disposable income, easy online travel bookings, package holidays, extensive coverage of holidays, and others also drive the market growth.
With an increase in tourism, several incidences such as trip cancellations, loss of luggage & important documents, medical emergencies, and others take place. To mitigate these risks, consumers opt for travel insurance, which is a significant driving factor for the travel insurance market. However, lack of awareness toward travel insurance policies, low consumer experiences in terms of coverages, premium rates, and services by third-party providers of travel insurance remains a primary concern, as a result, these factors limit the growth of travel insurance premium in the market.
On the contrary, technological developments such as geo-location, application program interface (API), artificial intelligence (AI), data analytics, and global positioning system (GPS) among others are providing innovative opportunities for insurers in the market. The insurers are expected to enhance existing distribution platforms of travel insurance to accelerate productivity and provide seamless user experiences with the help of digital technologies. Thus, these factors are expected to provide lucrative opportunities during the forecast period.
The global travel insurance market is segmented on the basis of insurance cover, distribution channel, end user, and region. In terms of insurance cover, it is segmented into single trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. Based on distribution channel, the market is segmented into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. On the basis of end user, it is segmented into senior citizens, education travelers, business travelers, family travelers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the global travel insurance market analysis are Allianz Group, American International Group Inc., Assicurazioni Generali S.P.A, AXA, Insure & Go Insurance Services Limited, Seven Corners Inc., Travel Insured International, TravelSafe Insurance., USI Insurance Services, Zurich Insurance Co. Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
– The study provides an in-depth analysis of the global travel insurance market along with the current & future trends to elucidate the imminent investment pockets.
– Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
– Porter;s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
– The quantitative analysis of the global travel insurance market from 2020 to 2027 is provided to determine the market potential.
Travel Insurance Market Key Segments
By Insurance Cover
– Single-Trip Travel Insurance
– Annual Multi-Trip Travel Insurance
– Long-Stay Travel Insurance
By Distribution Channel
– Insurance Intermediaries
– Insurance Companies
– Insurance Brokers
– Insurance Aggregators
By End User
– Senior Citizens
– Education Travelers
– Business Travelers
– Family Travelers
Key Market Players
– Allianz Group
– American International Group Inc.
– Assicurazioni Generali S.P.A
– Insure & Go Insurance Services Limited
– Seven Corners Inc.
– Travel Insured International
– TravelSafe Insurance.
– USI Insurance Services
– Zurich Insurance Co. Limited
Geographically, the following regions together with the listed national/local markets are fully investigated:
– APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
– Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
– North America (U.S., Canada, and Mexico)
– South America (Brazil, Columbia, Argentina, Rest of South America)
– MEA (Saudi Arabia, UAE, Egypt)
Impact of COVID-19 on the Global Market
The research report compiled by Report Ocean offers the study of market opportunities and market impact that are created due to the COVID-19 pandemic. The detailed research report is focused upon all direct and indirect impact of COVID-19 with new product launches, pipeline analysis, supply chain overview, government regulations, strategies adopted by related market players and upcoming vaccines and drug status. Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.(*If you have any special requirements, please let us know and we will offer you the report as you want.)
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Furthermore, the years considered for the study are as follows:
Historical year – 2014-2019 | Base year – 2019 | Forecast period** – 2020 to 2027 [** unless otherwise stated]
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Key Points Covered in Travel Insurance Market Report: Study Explore COVID 19 Outbreak Impact Analysis
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.1.Top impacting factors
2.1.2.Top investment pockets
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key forces shaping the travel insurance market
3.3.Value chain analysis
3.3.2.Pricing & underwriting
3.3.4.Administration & claims management
18.104.22.168.Rapid growth in tourism
22.214.171.124.Convenient shopping due to online comparison sites
126.96.36.199.Travel rule and regulations
188.8.131.52.Lack of awareness regarding travel insurance policy
184.108.40.206.Expansion of products and services
220.127.116.11.New technological developments in the travel insurance industry
3.5.COVID-19 impact analysis on travel insurance market
3.5.1.Impact on travel & tourism industry
3.5.2.Impact on travel insurance market size
3.5.3.Change in travelers trends, preferences, and budget impact due to COVID-19
3.5.4.Framework for solving market challenges faced by travel insurance providers and policy adopters
3.5.5.Economic impact on travel insurers
3.5.6.Key player strategies to tackle negative impact in the industry
3.5.7.Opportunity analysis for travel insurance policy providers
CHAPTER 4:TRAVEL INSURANCE MARKET, BY INSURANCE COVER
4.2.Single-trip travel insurance
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.Annual multi-trip travel insurance
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
4.4.Long-stay travel insurance
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country
CHAPTER 5:TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country
5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country
5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country
CHAPTER 6:TRAVEL INSURANCE MARKET, BY END USER
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis, by country
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis, by country
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market analysis, by country
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region
6.5.3.Market analysis, by country
6.6.1.Key market trends, growth factors, and opportunities
6.6.2.Market size and forecast, by region
6.6.3.Market analysis, by country
CHAPTER 7:TRAVEL INSURANCE MARKET, BY REGION
7.1.1.Market size and forecast, by region
CHAPTER 8:COMPETITIVE LANDSCAPE
8.1.1.Market player positioning, 2019
8.1.2.Top winning strategies
CHAPTER 9:COMPANY PROFILES
9.1.3.Operating business segments
9.1.6.Key strategic moves and developments
9.2.AMERICAN INTERNATIONAL GROUP, INC.
9.2.3.Operating business segments
9.2.6.Key strategic moves and developments
9.3.3.Operating business segments
9.3.6.Key strategic moves and developments
9.4.ASSICURAZIONI GENERALI S.P.A.
9.4.5.Key strategic moves and developments
9.5.INSURE & GO INSURANCE SERVICES LIMITED
9.6.SEVEN CORNERS INC.
9.6.4.Key strategic moves and developments
9.7.TRAVEL INSURED INTERNATIONAL
9.7.4.Key strategic moves and developments
9.9.USI INSURANCE SERVICES
9.10.ZURICH INSURANCE CO. LIMITED
9.10.3.Operating business segments
9.10.6.Key strategic moves and developments
……..and view more in complete table of Contents
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