Global travel insurance industry to 2027 | Business Insurance

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DUBLIN, July 4, 2022 /PRNewswire/ — The “Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027” Report has been added to ResearchAndMarkets.com offering.

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The world market for travel insurance reached a value of $13.9 billion in 2021. Looking ahead, the publisher expects the market to reach $31.3 billion for 2027, exhibiting a CAGR of 14.49% during 2021-2027. Considering the uncertainties of COVID-19, we are continually tracking and evaluating the direct and indirect influence of the pandemic. These insights are included in the report as a major contributor to the market.

Travel insurance provides financial protection for expenses or losses incurred due to unexpected events during domestic or international travel. It generally covers the costs of lost or stolen property, emergency medical care, accidental death, and trip cancellation and interruption.

It is in force from the day of the trip until the insured arrives home. Today, several companies offer travel insurance with 24/7 emergency services such as replacement of lost passports, assistance with cash transfers, and rebooking of canceled flights. They are also offering customization options based on geographic location and based on the requirements of the insured persons.

The substantial growth in the travel and tourism industry in recent years, due to the inflation of disposable income, the increase in business travel and the easy availability of online travel reservations and discounted vacation packages represents one of the the main factors driving the growth of the global travel insurance market.

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Furthermore, the governments of numerous countries have made it mandatory to attach travel insurance documents when applying for a visa, which is also contributing to the growth of the market. Apart from this, major players are incorporating digital tools, such as application program interface (API), artificial intelligence (AI), data analytics, and global positioning system (GPS), to improve distribution systems. and provide a personalized user experience.

Competitive landscape:

The report also analyzed the competitive landscape of the market, with some of the key players being Allianz SE, American Express Company, American International Group, AXA SABerkshire Hathaway Specialty Insurance Company, Generali Group, Insure & Go Insurance Services (Mapfre SA), Seven Corners Inc., Travel Insured International Inc. (Crum & Forster), USI Affinity (USI Insurance Services), and Zurich Insurance Group AG.

Key questions answered in this report:

  • How has the global travel insurance market performed so far and how will it perform in the years to come?

  • What has been the impact of COVID-19 on the global travel insurance market?

  • What are the key regional markets?

  • What is the breakdown of the market according to the type of insurance?

  • What is the market break based on coverage?

  • What is the breakdown of the market based on the distribution channel?

  • What is the division of the market based on the end user?

  • What are the various stages in the industry value chain?

  • What are the main driving factors and challenges in the industry?

  • What is the structure of the global travel insurance market and who are the key players?

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Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive summary

4 Introduction

4.1 Summary

4.2 Key industry trends

5 Global Travel Insurance Market

5.1 Market Overview

5.2 Market performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market breakdown by type of insurance

6.1 Single trip travel insurance

6.1.1 Market trends

6.1.2 Market Forecast

6.2 Annual Multitrip Insurance

6.2.1 Market trends

6.2.2 Market Forecast

6.3 Long Stay Travel Insurance

6.3.1 Market trends

6.3.2 Market Forecast

7 Market breakdown by coverage

7.1 Medical Expenses

7.1.1 Market trends

7.1.2 Market Forecast

7.2 Trip cancellation

7.2.1 Market trends

7.2.2 Market Forecast

7.3 Travel delay

7.3.1 Market trends

7.3.2 Market Forecast

7.4 Property damage

7.4.1 Market trends

7.4.2 Market Forecast

7.5 Others

7.5.1 Market trends

7.5.2 Market Forecast

8 Market Breakdown by Distribution Channel

8.1 Insurance intermediaries

8.1.1 Market trends

8.1.2 Market Forecast

8.2 Banks

8.2.1 Market trends

8.2.2 Market Forecast

8.3 Insurance Companies

8.3.1 Market trends

8.3.2 Market Forecast

8.4 Insurance aggregators

8.4.1 Market trends

8.4.2 Market Forecast

8.5 Insurance Brokers

8.5.1 Market trends

8.5.2 Market Forecast

8.6 Others

8.6.1 Market trends

8.6.2 Market Forecast

9 Market Breakdown by End User

9.1 Seniors

9.1.1 Market trends

9.1.2 Market Forecast

9.2 Education Travelers

9.2.1 Market trends

9.2.2 Market Forecast

9.3 Business travelers

9.3.1 Market trends

9.3.2 Market Forecast

9.4 Family travelers

9.4.1 Market trends

9.4.2 Market Forecast

9.5 Others

9.5.1 Market trends

9.5.2 Market Forecast

10 Market Breakdown by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porter’s Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market structure

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15.2 Key players

15.3 Key Player Profiles

15.3.1 Allianz SE

15.3.1.1 General description of the company

15.3.1.2 Product portfolio

15.3.1.3 Finance

15.3.1.4 SWOT analysis

15.3.2 American Express Company

15.3.2.1 Company overview

15.3.2.2 Product portfolio

15.3.2.3 Finance

15.3.2.4 SWOT Analysis

15.3.3 American International Group

15.3.3.1 Company overview

15.3.3.2 Product portfolio

15.3.3.3 Finance

15.3.3.4 SWOT Analysis

15.3.4 AXA SA

15.3.4.1 General description of the company

15.3.4.2 Product portfolio

15.3.5 Berkshire Hathaway Specialty Insurance Company

15.3.5.1 Company overview

15.3.5.2 Product portfolio

15.3.6 General group

15.3.6.1 Company overview

15.3.6.2 Product portfolio

15.3.6.3 Finance

15.3.6.4 SWOT analysis

15.3.7 Insurance Services Insure & Go (Mapfre SA)

15.3.7.1 General description of the company

15.3.7.2 Product portfolio

15.3.7.3 Finance

15.3.8 Seven Corners Inc.

15.3.8.1 Company overview

15.3.8.2 Product portfolio

15.3.9 Travel Insured International Inc. (Crum & Forster)

15.3.9.1 Company Summary

15.3.9.2 Product portfolio

3.15.10 USI Affinity (USI Insurance Services)

15.3.10.1 General description of the company

15.3.10.2 Product portfolio

3.15.11 Zurich Insurance Group AG

15.3.11.1 General description of the company

15.3.11.2 Product portfolio

15.3.11.3 Finance

15.3.11.4 SWOT Analysis

For more information on this report, visit https://www.researchandmarkets.com/r/2ase3m

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