Travel Insurance and Assistance in Kuwait

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Jun 18, 2013, 03:30 ET

NEW YORK, June 18, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Travel Insurance and Assistance in Kuwait
http://www.reportlinker.com/p01360800/Travel-Insurance-and-Assistance-in-Kuwait.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Travel_Services

Finaccord's report titled Travel Insurance and Assistance in Kuwait is about the current status and likely future development of the market for stand-alone travel insurance policies in Kuwait.

It includes the following unique features:

- data spanning 2008 to 2012 for the underlying travel market with segmentations by type of journey (between holiday and business trips) and with related commentary concerning the popularity of different overseas destinations;

- data for the size of the market for stand-alone travel insurance and assistance in Kuwait between 2008 and 2012 in terms of premiums and policies, with a segmentation between single-trip and annual cover;

- analyses of the share of distribution relationships of travel insurance providers split between travel trade, transportation and financial organisations, based on a primary survey of over 70 actual and potential distributors of stand-alone travel policies;

- a review of other direct and affinity distribution channels used in Kuwait, including cover packaged with payment cards and bank accounts as well as automotive clubs, direct sales, online aggregators and brokers, other online brands and retailers;

- forecasts to 2016 for both the underlying travel market and for the size of the market for stand-alone travel insurance and assistance in terms of premiums and policies, with the same segmentations as those specified above for the period from 2008 to 2012.

The report is accompanied by an Excel PartnerBASE dataset that details the travel insurance partnerships of each of the travel trade, transportation and financial organisations covered, plus a convenient market data annexe, also in Excel format. This annexe can be used as a convenient source of data already in Excel format which means that there is no need for users to re-enter data from the PDF report into their own Excel worksheets.

Table of Contents

0.0 EXECUTIVE SUMMARY
1.0 INTRODUCTION
What is this report about?
Rationale
This report builds upon Finaccord's ground-breaking studies of this topic in other regions
Methodology
Primary research
The survey includes around 80 travel trade, transportation and financial organisations…
…and draws on an analysis of various travel benefits linked to banking products
Market data
External sources
Travel insurance and assistance: how it all fits together
The term 'travel insurance' can refer to protection from a heterogeneous range of risks…
...and assistance companies play a fundamental role in the global travel insurance industry
Definitions
Terms and abbreviations
Types of packaged travel insurance and assistance
Operating models
Currencies, exchange rates and inflation
PartnerBASE
Finaccord

2.0 MARKET ANALYSIS
Introduction
Underlying foreign travel market
Around a quarter of the estimated 3.25 million overnight trips are for business purposes…
…whilst Egypt, Malaysia and Thailand are among the popular holiday destinations
Market for travel insurance and assistance
Uptake of travel insurance is rising quickly, albeit from a relatively low level…
…and the use of annual policies, especially among regular business travellers, is growing
Distribution through travel trade, transportation and financial organisations
Summary of organisations researched
Provision rates
Around 45% of relevant airlines have a travel insurance scheme
Operating models
The single external underwriter model accounts for more than 90% of all schemes
Competitor share of partnerships
More than three quarters of travel trade schemes are underwritten by either Chartis or MetLife Alico…
…although other, more local providers are also present in this market
Mondial Assistance organises cover for several airlines, in partnership with a local insurer …
…with another global competitor benefitting from a number of region-wide contracts
Boubyan Bank makes use of its captive, Boubyan Takaful Insurance
Travel insurance and assistance linked to payment cards and bank accounts
Around half of credit card products feature one or more types of travel cover…
…and, among premium cards, nearly 45% feature a comprehensive travel policy
Other distribution channels
Automotive clubs
Direct distribution by insurance underwriters
Many of Kuwait's leading insurers sell travel policies direct to consumers, but not always online
Online aggregators and brokers
Other online brands
Retailers
Other types of distributor
Forecasts
Underlying foreign travel market
Business travel is forecast to grow at nearly 6% per annum between 2012 and 2016
Market for travel insurance and assistance
Kuwait's market for stand-alone cover is expected to grow at around 3% per annum in real terms
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LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Key market data for travel insurance and assistance in Kuwait, 2008, 2012 and 2016
1.0 INTRODUCTION
Travel insurance and assistance: how it all fits together
2.0 MARKET ANALYSIS
Number of foreign trips undertaken by residents of Kuwait, segmented by purpose of trip, 2008 to 2012
Number of foreign trips undertaken by residents of Kuwait, segmented by purpose of trip, 2008 to 2012 (table)
Estimated gross written premiums and policy numbers for travel insurance and assistance in Kuwait, 2008 to 2012
Estimated gross written premiums and policy numbers for travel insurance and assistance in Kuwait, 2008 to 2012 (table)
Summary of travel trade, transportation and financial organisations researched in Kuwait, segmented by type, 2013
Provision rates for stand-alone travel insurance and assistance in Kuwait, segmented by type of travel trade, transportation and financial organisation, 2013
Operating models used for stand-alone travel insurance and assistance in Kuwait, segmented by type of travel trade, transportation and financial organisation, 2013
Operating models used for stand-alone travel insurance and assistance in Kuwait, segmented by type of travel trade, transportation and financial organisation, 2013 (table)
Competitor share of partnerships for stand-alone travel insurance and assistance in Kuwait, 2013: travel trade organisations
Competitor share of partnerships for stand-alone travel insurance and assistance in Kuwait, 2013: transportation organisations
Competitor share of partnerships for stand-alone travel insurance and assistance in Kuwait, 2013: financial organisations
Provision rates for travel insurance and assistance linked to payment cards and bank accounts in Kuwait, segmented by product function and level, and by type of cover, 2013
Forecast number of foreign trips undertaken by residents of Kuwait, segmented by purpose of trip, 2016
Forecast number of foreign trips undertaken by residents of Kuwait, segmented by purpose of trip, 2016 (table)
Forecast gross written premiums and policy numbers for travel insurance and assistance in Kuwait, 2016
Forecast gross written premiums and policy numbers for travel insurance and assistance in Kuwait, 2016 (table)