Travel Insurance and Assistance in Southern and Western Europe
NEW YORK, Oct. 23, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Travel Insurance and Assistance in Southern and Western Europe
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Travel Insurance and Assistance in Southern and Western Europe investigates the market for stand-alone travel insurance and assistance in eight countries in this region, namely, Belgium, France, Ireland, Italy, the Netherlands, Portugal, Spain and the UK.
This market is estimated by Finaccord to be worth EUR 1.83 billion in gross written premiums in 2012 and its value has proved to be fairly resilient in spite of a challenging economic environment. Moreover, the competitive and distribution dynamics of the market continue to evolve with new channels emerging and partnerships with major distributors subject to regular change.
For the research, Finaccord investigated the distribution partnerships of over 1,250 travel trade, transportation and financial organisations across the region; it also analysed systematically the involvement in travel insurance in each country of other key distributor categories, namely automotive clubs, direct sales, online aggregators and brokers, other online brands, and retailers.
The report, which represents an update and expansion to previous Finaccord studies on the subject issued since 2003, 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.
Key findings from the executive summary include:
- across the region as a whole, the number of foreign trips (lasting one night or more) declined from 163.2 million in 2008 to 143.7 million in 2012, which is a compound annual decline of 3.1% over this period;
- the UK has by far the largest travel insurance market in Southern and Western Europe, driven by the size of its population and the relatively high frequency with which its residents travel abroad, and the second largest market in terms of premiums is the Netherlands;
- the combined value of gross written premiums from stand-alone travel insurance and assistance in Southern and Western Europe is forecast to increase from EUR 1.83 billion in 2012 to EUR 1.93 billion in 2016 (giving a nominal compound annual growth rate of 1.4%);
- after taking local inflation into account, three markets – namely those of France, the Netherlands and the UK – are forecast to contract during this period whereas the Portuguese market is forecast to experience to most rapid real-terms growth, followed by Italy and Spain.
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY . 1
Economic crises have reduced the volume of outbound travel. 2
.with the surprising exception of Spain 2
The UK accounts for over half of all premiums paid for travel insurance and assistance in this region . 3
Frequency of travel affects the relative success of different distribution channels 4
Two groups account for over a quarter of stand-alone travel insurance partnerships 4
While foreign trips are expected to rise again, this will not increase total premiums in real terms. 5
.though some countries should see reasonably significant growth . 6
1.0 INTRODUCTION 8
What is this report about? 8
Rationale . 8
This report builds upon Finaccord's previous ground-breaking studies of this topic . 8
Methodology . 9
Primary research . 9
The survey includes around 1,250 travel trade, transportation and financial organisations… . 9
…and draws on an analysis of travel benefits linked to thousands of banking products 9
Market data . 11
External sources . 11
Travel insurance and assistance: how it all fits together 11
The term 'travel insurance' can refer to protection from a heterogeneous range of risks… . 11
.and assistance companies play a fundamental role in the European travel insurance industry . 12
Definitions . 12
Terms and abbreviations 12
Types of packaged travel insurance and assistance 13
Operating models . 13
Currencies, exchange rates and inflation 14
PartnerBASE™ 14
Finaccord 15
2.0 REGIONAL OVERVIEW 17
Introduction . 17
Underlying foreign travel markets 17
Number of trips 17
Economic turmoil has taken its toll on several markets across this region… 17
…although Spain's outbound travel sector has continued to do well 17
On a per capita basis, foreign travel remains relatively uncommon among Mediterranean citizens . 19
There is a marked correlation between citizens' wealth and their outbound travel habits 21
Purpose of trips . 23
The importance of business travel varies inversely with climate and personal wealth . 23
In many countries, business travel has declined more rapidly than leisure travel in recent years . 23
Destination of trips 26
Around three quarters of foreign travel is to destinations within the European Union…. 26
…and travel to other continents is most common among residents of France . 26
Markets for travel insurance and assistance 29
Policy numbers and value of premiums 29
In real terms, regional premiums have declined in recent years, as has the number of annual policies . 29
The Dutch market for travel insurance is very large compared to the size of its population . 30
Policy volumes have been falling in some markets, including that of the UK… 30
…although gross written premiums have risen elsewhere, most notably in Spain . 31
The use of annual policies has risen in Ireland despite a steep decline in trips abroad . 33
Market metrics . 35
Across this two-tier region, premiums per capita vary from around EUR 1.80 to nearly EUR 16.00… . 35
…with the Italian and Spanish markets recording good growth by this measure . 35
Portugal has a higher number of policies per trip than any other country in the region… 39
…although the most valuable travel policies are sold in the UK and Ireland 39
Distribution through travel trade, transportation and financial organisations 42
Provision rates 42
Travel agents / tour operators: all Dutch and French travel agents researched by Finaccord offer policies . 42
Online travel specialists: less than a half of Italian travel portals distribute travel insurance 43
Airlines: provision is strongest in Belgium and Ireland, and sales strategies can be aggressive . 44
Ferry operators: in terms of selling travel policies, ferry companies are less active than airlines . 45
Railway operators: in France, cover is available for Eurostar and SNCF customers alike . 46
Banking organisations: three quarters of banks in the Netherlands offer stand-alone policies 47
Specialised card providers: these are far less likely than regular banks to offer stand-alone cover 48
Operating models . 49
The majority of stand-alone travel schemes involve a single external underwriter… . 49
…although the use of captive underwriters or insurance brokers is widespread in certain markets 49
Competitive landscape . 52
The UK has by far the least concentrated market in Southern and Western Europe . 52
At group level, Allianz is the most common partner for stand-alone travel insurance schemes… . 53
…and other leading regional providers include Europ Assistance, ERV and AXA Assistance 53
Distribution linked to payment cards and bank accounts . 54
The practice of linking travel policies to credit cards is particularly widespread in France 54
Forecasts 58
Underlying foreign travel markets 58
The region's outbound travel sector is expected to grow at a modest rate between 2012 and 2016… 58
…although many individual markets will struggle to return to their pre-recession levels 58
Markets for travel insurance and assistance . 59
At a regional level, policy volumes are forecast to rise at around 1.2% per annum… 59
…although, in real terms, gross written premiums will remain largely unchanged in 2016 59
At the local level, the strongest growth is expected to occur in Portugal . 60
3.0 BELGIUM 63
Introduction . 63
Underlying foreign travel market . 63
Foreign trips by Belgian residents peaked in 2009 63
Trips to non-EU European countries increased between 2008 and 2012 65
Market for travel insurance and assistance 66
The total number of stand-alone policies in force decreased slightly between 2010 and 2012. 66
. albeit single-trip policies grew between 2008 and 2012 . 66
Distribution through travel trade, transportation and financial organisations 68
Summary of organisations researched 68
Provision rates 68
Both Belgian-based airlines distribute travel insurance policies 68
Operating models . 69
Single external underwriters are most commonly used . 69
Competitor share of partnerships . 71
Mondial Assistance leads the segment of travel trade entities. . 71
.and holds some key partnerships 71
Three providers have established partnerships in the transportation segment. 72
Only four financial institutions offer stand-alone travel insurance 73
Travel insurance and assistance linked to payment cards and bank accounts 74
Travel cover packaged with credit cards is normally not comprehensive . 74
Other distribution channels 77
Automotive clubs . 77
All four automotive clubs distribute travel insurance. . 77
Direct distribution by insurance underwriters 77
.but only a minority of the leading non-life insurers sell it . 77
Online aggregators and brokers 77
Aggregators concentrate on motor insurance 77
Other online brands 78
Two of the leading travel insurance specialists do not sell directly to the public . 78
Retailers 78
Other types of distributor 78
Forecasts 78
Underlying foreign travel market 78
Overseas trips are forecast to begin increasing from 2013 onwards 78
Market for travel insurance and assistance . 80
The Belgian stand-alone travel insurance market will continue growing up to 2016 80
4.0 FRANCE 82
Introduction . 82
Underlying foreign travel market . 82
Foreign business trips contracted sharply in the wake of ongoing economic turmoil . 82
The large proportion of trips to North African countries can be attributed to France's colonial history . 84
Market for travel insurance and assistance 85
Single-trip policies account for 90% of all policies sold 85
Distribution through travel trade, transportation and financial organisations 87
Summary of organisations researched 87
Provision rates 87
Almost two thirds of all organisations researched are distributors of travel insurance 87
Operating models . 88
Insurance brokers play an important role in the distribution of travel insurance policies 88
Competitor share of partnerships . 90
In terms of partnership share, Europ Assistance leads the market in the travel trade category 90
Mondial Assistance claims key partnerships in the transportation segment . 92
Only two financial organisations offer stand-alone travel insurance cover 92
Travel insurance and assistance linked to payment cards and bank accounts 93
Travel cover in one form or another is available in conjunction with most payment cards . 93
Other distribution channels 96
Automotive clubs . 96
AXA has the only partnership among automotive clubs 96
Direct distribution by insurance underwriters 96
Only three of the largest non-life insurance underwriters sell stand-alone travel insurance directly 96
Online aggregators and brokers 96
Several specialist travel insurance brokers exist, though few multi-product aggregators sell travel insurance . 96
Other online brands 97
Major insurance groups have specialist travel insurance brands 97
Retailers 97
Retailers in France only sell travel insurance through their travel agency subsidiaries 97
Other types of distributor 97
Forecasts 98
Underlying foreign travel market 98
Foreign business trips will regain some of the lost ground in the coming years . 98
Market for travel insurance and assistance . 99
In real terms, France's market for stand-alone travel insurance is likely to decline 99
5.0 IRELAND . 101
Introduction . 101
Underlying foreign travel market . 101
Trips per capita remain comparatively high although have fallen sharply since 2008 101
Trips to the UK boost the percentage of the total attributable to EU countries 103
Market for travel insurance and assistance 104
The total number of stand-alone policies in force changed little between 2010 and 2012. 104
. albeit annual policies grew rapidly between 2008 and 2012 and make up around two thirds of the total . 104
Distribution through travel trade, transportation and financial organisations 106
Summary of organisations researched 106
Provision rates 106
All Ireland-based airlines and online travel specialists distribute travel insurance 106
Operating models . 107
The Irish market is characterised by the prominence of several specialised travel insurance intermediaries . 107
Competitor share of partnerships . 109
MAPFRE Assistance benefits from the status of Blue Insurances as the leading intermediary 109
Around a half a dozen other providers compete for distribution partnerships with the travel trade 109
Ryanair is likely to be the most significant distributor in the category of transportation organisations . 110
Chartis holds two significant relationships for stand-alone travel cover among financial institutions . 111
Travel insurance and assistance linked to payment cards and bank accounts 112
Comparatively few credit cards incorporate any form of travel-related cover . 112
Other distribution channels 115
Automotive clubs . 115
The AA Ireland offers a range of travel policies in association with Inter Partner Assistance 115
Direct distribution by insurance underwriters 115
At least eight underwriters sell travel cover on a direct basis and another purely through brokers 115
Online aggregators and brokers 115
Compare Ireland acts as a comparison site across numerous consumer product and service categories . 115
There is no shortage of dedicated online brokers selling travel cover in Ireland. 115
Other online brands 116
. to which can be added several online brands focused mainly on distributing this type of cover 116
Retailers 116
Other types of distributor 116
Forecasts 116
Underlying foreign travel market 116
Overseas trips are forecast to begin increasing from 2013 onwards 116
Market for travel insurance and assistance . 118
Ireland's stand-alone travel insurance and assistance market will carry on growing up to 2016 . 118
6.0 ITALY . 120
Introduction . 120
Underlying foreign travel market . 120
Italy's troubled economy causes a sharp contraction in the outbound travel market 120
The proportion of trips to other EU countries has increased to over 70% of the total . 122
Market for travel insurance and assistance 123
Italy's market for stand-alone travel insurance and assistance is likely to have peaked in 2010 . 123
Annual policies remain in a minority although their share within the total has grown in recent years 123
Distribution through travel trade, transportation and financial organisations 125
Summary of organisations researched 125
Provision rates 125
45.1% of all organisations researched have an arrangement in place for selling travel insurance 125
Operating models . 126
Most distributors organise travel insurance by means of a single, external underwriter . 126
Competitor share of partnerships . 128
Within the travel trade, three providers account for over 80% of partnerships 128
Seven travel insurance providers have won distribution mandates in the transportation segment 129
The scope for selling stand-alone travel cover through financial organisations is apparently limited 130
Travel insurance and assistance linked to payment cards and bank accounts 131
Travel accident and travel inconvenience cover are most commonly added to credit cards . 131
Other distribution channels 134
Automotive clubs . 134
ACI utilises a captive insurance company for travel insurance offered to members. 134
Direct distribution by insurance underwriters 134
Five of the top ten non-life insurance groups distribute on a direct or semi-direct basis. 134
Online aggregators and brokers 134
No genuine aggregation (as opposed to agency) services yet exist for travel insurance in Italy . 134
Other online brands 134
Columbus Direct and World Nomads both act as agents for external insurance underwriters 134
Retailers 135
Other types of distributor 135
Members of the MilleMiglia frequent flyer program can earn points by purchasing travel insurance . 135
Forecasts 135
Underlying foreign travel market 135
Overseas trips will have picked up by 2016 but may still not have recovered to the level of 2010 135
Market for travel insurance and assistance . 137
Italy's stand-alone travel insurance and assistance market is forecast to experience modest growth 137
7.0 NETHERLANDS . 139
Introduction . 139
Underlying foreign travel market . 139
The Dutch outbound travel market proves to be resilient in spite of economic uncertainty 139
More than four out of five foreign trips are to other EU countries 141
Market for travel insurance and assistance 142
The Dutch market for stand-alone travel cover has declined slightly in recent years . 142
The share of annual policies within the total falls but is still dominant . 142
Distribution through travel trade, transportation and financial organisations 144
Summary of organisations researched 144
Provision rates 144
All researched travel agents and tour operators offer travel insurance . 144
Operating models . 145
Banking organisations display the most diverse set of operating models . 145
Competitor share of partnerships . 147
Europeesche Verzekeringen claims the highest partnership share among travel trade entities 147
Mondial Assistance claims the only two partnerships in the transportation segment . 148
Six banks sell travel cover in the Netherlands 149
Travel insurance and assistance linked to payment cards and bank accounts 150
Almost two thirds of premium banking products include comprehensive travel insurance 150
Other distribution channels 153
Automotive clubs . 153
ANWB offers travel insurance through its captive insurer 153
Direct distribution by insurance underwriters 153
All of the top ten non-life insurance groups offer travel insurance . 153
Online aggregators and brokers 153
Aggregators commonly include travel policies and act more as comparators than as agents . 153
Other online brands 153
Traditional insurers also sell travel policies through online brands 153
Retailers 154
HEMA sells travel insurance itself, while V&D does so through its travel agency 154
Other types of distributor 154
Forecasts 154
Underlying foreign travel market 154
The Dutch market will experience an increase in overseas travel between 2012 and 2016 154
Market for travel insurance and assistance . 156
In real terms, the Dutch market for stand-alone travel insurance is likely to contract . 156
8.0 PORTUGAL 158
Introduction . 158
Underlying foreign travel market . 158
In a market that has declined since 2009, holiday trips have held up far better than business trips 158
The proportion of trips to countries outside of Europe and North America has grown since 2008 160
Market for travel insurance and assistance 161
The Portuguese market for stand-alone travel cover is likely to have stagnated since 2008 . 161
Policies often cover just a few specific travel-related risks which brings down the average price 161
Distribution through travel trade, transportation and financial organisations 163
Summary of organisations researched 163
Provision rates 163
An arrangement is in place for selling travel insurance among over a half of organisations investigated . 163
Operating models . 164
Alternative operating models account for over a three quarters of all partnerships identified 164
Competitor share of partnerships . 166
Tranquilidade and Victoria emerge as market leaders in terms of the share of partnerships. . 166
. in a market in which the supply structure in 2012 looks quite different from that seen in 2009 166
Two airlines based in Portugal have embedded an option for travel cover in their booking systems 167
A minority of banking organisations sell stand-alone travel insurance 168
Travel insurance and assistance linked to payment cards and bank accounts 169
Where bundled with payment cards, travel cover is usually not comprehensive 169
Other distribution channels 172
Automotive clubs . 172
The ACP utilises Villas-Boas for its travel insurance proposition . 172
Direct distribution by insurance underwriters 172
Almost all of the leading non-life insurers promote a travel insurance product of one sort or another . 172
Online aggregators and brokers 172
Genuine online aggregators have yet to arrive in the Portuguese market 172
Other online brands 172
Spain's leading travel insurance broker is also active through its online presence in Portugal 172
Retailers 173
At least two major retail brands intermediate insurance but none sell travel cover. 173
Other types of distributor 173
Portugal's national post office distributes travel policies underwritten by MAPFRE 173
Forecasts 173
Underlying foreign travel market 173
Outbound travel will pick up between 2012 and 2016 without coming close to recovering the peak of 2009 . 173
Market for travel insurance and assistance . 175
Gross written premiums are forecast to rise by over 37% in nominal terms between 2012 and 2016 175
9.0 SPAIN 177
Introduction . 177
Underlying foreign travel market . 177
The outbound travel market proves to be quite resilient in spite of Spain's economic travails . 177
Aided by low-cost flights, trips to other EU countries have grown as a proportion of total trips 179
Market for travel insurance and assistance 180
The market for stand-alone travel cover in Spain has delivered moderate growth in recent years 180
The share of annual policies within the total continues to grow . 180
Distribution through travel trade, transportation and financial organisations 182
Summary of organisations researched 182
Provision rates 182
Over 90% of travel trade entities researched are distributors of travel insurance . 182
Operating models . 183
A significant minority of travel trade entities utilise a broker rather than a single, external underwriter 183
Competitor share of partnerships . 185
Three providers claim in excess of 50% of travel trade distribution partnerships. 185
. in a market populated by both direct underwriters and specialist intermediaries 185
Intermundial is comfortably the largest intermediary by share of partnerships. 186
. and attributes its growth to innovative product design, quality of service and intelligent use of technology 186
Mondial Assistance claims the key airline relationship with Iberia . 186
Travel cover is sold by a number of Spanish banking organisations. 187
. with Caja Madrid and MAPFRE having developed an innovative distribution system at Barajas Airport 187
Travel insurance and assistance linked to payment cards and bank accounts 188
Around three quarters of credit card products carry at least some form of travel cover . 188
Other distribution channels 191
Automotive clubs . 191
Both main automotive clubs offer travel insurance underwritten by captive entities . 191
Direct distribution by insurance underwriters 191
Six of the top ten insurance underwriting groups distribute on a direct or semi-direct basis 191
Online aggregators and brokers 191
Just one aggregator intermediates travel cover but its proposition is relatively limited . 191
Other online brands 191
Aero Future & GRM runs a dedicated online travel insurance brand active across multiple countries 191
Retailers 192
El Corte Inglés distributes a specialised skiing insurance policy sourced from RACC Seguros 192
Other types of distributor 192
Members of two frequent flyer programs can earn points by purchasing travel insurance 192
Forecasts 192
Underlying foreign travel market 192
Spain risks experiencing a decline in demand for overseas travel between 2012 and 2016 . 192
Market for travel insurance and assistance . 194
Growth in the Spain's market for travel insurance and assistance seems likely to slow 194
10.0 UK 196
Introduction . 196
Underlying foreign travel market . 196
Recession and stagnation cause the volume of international trips to shrink . 196
The composition of journeys abroad by destination has hardly changed since 2008 198
Market for travel insurance and assistance 199
The UK's travel insurance market value has staged a moderate recovery from its low point of 2009 . 199
Sales of stand-alone annual policies have been impacted by the popularity of added value accounts. 199
Distribution through travel trade, transportation and financial organisations 201
Summary of organisations researched 201
Provision rates 201
Distributors in all categories sell travel insurance to one extent or another . 201
Operating models . 202
Specialised travel insurance intermediaries play a significant role in the UK market . 202
Competitor share of partnerships . 204
By share of travel trade partnerships, a captive underwriter is the market leader. . 204
. followed by two long-established travel insurance intermediaries . 204
In the transportation category, 12 providers split 14 insurance mandates between them 205
The supply structure is similarly fragmented among financial institutions . 206
By share of total underwriting partnerships with key distributors, AXA emerges as the market leader. 207
. closely followed by three insurers that have risen rapidly in prominence since the previous survey . 208
Several important changes of ownership have occurred or are due to occur soon 208
Travel insurance and assistance linked to payment cards and bank accounts 209
Packaged accounts are important vehicles for distributing comprehensive travel cover 209
Other distribution channels 211
Automotive clubs . 211
Four out of five automotive clubs in the UK have an arrangement for travel insurance . 211
Direct distribution by insurance underwriters 211
Almost all of the UK's leading non-life insurance underwriters sell travel cover on a direct basis 211
Online aggregators and brokers 211
The four main online aggregators exert a fairly significant influence on travel insurance distribution 211
Other online brands 211
In addition to the aggregators, there are also a number of high profile online travel insurance brands . 211
Retailers 212
Upwards of a dozen retail brands are used for selling travel cover in the UK . 212
Other types of distributor 213
Numerous other types of affinity distributor are also active in the UK's travel insurance sector . 213
Forecasts 213
Underlying foreign travel market 213
Assuming a modest upturn in the economy from 2013 onwards, outbound travel may start growing again 213
Market for travel insurance and assistance . 215
In real terms, the value of the UK's travel insurance market may decline slightly up to 2016 215
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY . 1
1.0 INTRODUCTION 8
Number of travel trade, transportation and financial organisations covered by the research, segmented by country and by type of organisation, 2012 10
Travel insurance and assistance: how it all fits together 12
2.0 REGIONAL OVERVIEW 17
Number of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2008 to 2012 . 18
Number of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2008 to 2012 (table) . 19
Number of foreign trips per capita in Southern and Western Europe, segmented by country, 2008 to 2012 . 20
Number of foreign trips per capita in Southern and Western Europe, segmented by country, 2008 to 2012 (table) 21
GDP per capita versus number of foreign trips per capita in Southern and Western Europe, segmented by country, 2012 22
GDP per capita versus number of foreign trips per capita in Southern and Western Europe, segmented by country, 2012 (table) 23
Purpose of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2012 24
Purpose of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2012 (table) . 24
Compound annual growth in foreign trips undertaken by residents of Southern and Western Europe, segmented by country and by purpose of trip, 2008 to 2012 25
Compound annual growth in foreign trips undertaken by residents of Southern and Western Europe, segmented by country and by purpose of trip, 2008 to 2012 (table) . 26
Destination of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2012 27
Destination of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2012 (table) 28
Estimated single-trip and annual policy numbers and gross written premiums for stand-alone travel insurance and assistance in Southern and Western Europe, 2008 to 2012 29
Relative size of estimated gross written premiums for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2012 30
Compound annual growth in the estimated number of stand-alone travel insurance and assistance policies in Southern and Western Europe, segmented by country, 2008 to 2012 . 31
Compound annual growth in estimated gross written premiums for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2008 to 2012 32
Estimated policy numbers and gross written premiums for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2008 to 2012 . 33
Proportion of stand-alone travel insurance and assistance policies in Southern and Western Europe that are annual policies, segmented by country, 2008 and 2012 . 34
Proportion of stand-alone travel insurance and assistance policies in Southern and Western Europe that are annual policies, segmented by country, 2008 to 2012 (table) . 35
Estimated gross written premiums per capita for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2008 and 2012 36
Estimated policy numbers and gross written premiums per capita for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2008 to 2012 37
GDP per capita versus gross written premiums per capita for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2012 38
GDP per capita versus gross written premiums per capita for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2012 (table) . 39
Estimated average value of policies for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2008 and 2012 . 40
Estimated policy numbers per trip and average value of policies for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2008 to 2012 41
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: travel agents and tour operators 42
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: online travel specialists . 43
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: airlines . 44
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: ferry operators . 45
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: railway operators . 46
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: banking organisations 47
Provision rates for stand-alone travel insurance and assistance, segmented by country, 2012: specialised card providers . 48
Operating models used by travel trade, transportation and financial organisations for stand-alone travel insurance and assistance, segmented by country, 2012 . 50
Operating models used by travel trade, transportation and financial organisations for stand-alone travel insurance and assistance, segmented by country, 2012 (table) . 51
Market concentration of partners used by travel trade, transportation and financial organisations for stand-alone travel insurance and assistance, segmented by country, 2012 52
Market concentration of partners used by travel trade, transportation and financial organisations for stand-alone travel insurance and assistance, segmented by country, 2012 (table) . 53
Leading providers used by travel trade, transportation and financial organisations in Southern and Western Europe for stand-alone travel insurance and assistance, 2012 . 54
Provision rates for travel insurance and assistance linked to credit cards in Southern and Western Europe, segmented by country and by type of cover, 2012 55
Provision rates for travel insurance and assistance linked to packaged accounts in Southern and Western Europe, segmented by country and by type of cover, 2012 56
Provision rates for travel insurance and assistance linked to credit cards and packaged accounts in Southern and Western Europe, segmented by country and by type of cover, 2012 (table) 57
Forecast growth in the number of foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2016 . 58
Forecast compound annual growth in foreign trips undertaken by residents of Southern and Western Europe, segmented by country, 2012 to 2016 . 59
Forecast growth in policy numbers and gross written premiums for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2016 . 60
Forecast compound annual growth in the number of stand-alone travel insurance and assistance policies in Southern and Western Europe, segmented by country, 2012 to 2016 . 61
Forecast compound annual growth in gross written premiums for stand-alone travel insurance and assistance in Southern and Western Europe, segmented by country, 2012 to 2016 62
3.0 BELGIUM 63
Number of foreign trips undertaken by residents of Belgium, segm
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Travel_Services Industry: Travel Insurance and Assistance in Southern and Western Europe
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