Worldwide Travel Insurance Industry to 2030 - Featuring Seven Corners, Travel Insured International and USI Insurance Services Among Others

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May 30, 2022, 13:15 ET

DUBLIN, May 30, 2022 /PRNewswire/ -- The "Travel Insurance Market By Coverage Type, Distribution Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global travel insurance market size was valued at $12.38 billion in 2020, and is projected to reach $119.31 billion by 2030, growing at a CAGR of 26.1% from 2021 to 2030.

Travel insurance is a type of insurance that accounts for any unanticipated or undesired losses that can occur when travelling (either internationally or domestically). Typical travel insurance policies normally are designed to cover any medical emergencies during the period of travel, whereas more comprehensive travel insurance policies may also include trip cancellation, lost luggage, flight delays, public liability, and among other unanticipated charges during the period of travel.

Moreover, travel insurance can provide the traveler with a sense of security and safety while visiting a foreign land. However, with the slowdowns in the travel and hospitality segment caused by the outbreak of the COVID-19 pandemic, the global travel insurance industry also experienced significant shrinkage during the period. Although, with the average travel scene returning back on the levels of pre-pandemic levels, the travel insurance market is also expected to grow in the coming years.

The growth of the global travel insurance market is driven by factors such as rising tourism demands post the pandemic are boosting the growth of the travel insurance market. In addition, government-mandated travel policies are further fueling the growth of the travel insurance market. However, the low penetration of insurance policies limits the growth of this market. Conversely, new technological developments for the travel insurance industry are expected to provide numerous opportunities for the expansion of the travel insurance market during the forecast period.

The global travel insurance market is segmented into coverage type, distribution channel, end user, and region. Depending on coverage type, the market is bifurcated into single-trip travel insurance and annual multi-trip travel insurance. On the basis of distribution channel, it is segregated into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. As per end user, it is differentiated 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 global travel insurance market is dominated by key players such As ALLIANZ, AMERICAN INTERNATIONAL GROUP INC., Assicurazioni Generali S.P.A., AXA, Insure and Go Insurance Services Limited, Seven Corners Inc., Trip Mate Inc., Travel Insured International, Travel Safe Insurance, and USI INSURANCE SERVICES LLC. 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 forecast along with the current & future trends to explain the imminent investment pockets
Information about key drivers, restraints, & opportunities and their impact analysis on global travel insurance market trends is provided in the report
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential

Key Topics Covered:

Chapter 1: Introduction

Chapter 2: Executive Summary

Chapter 3: Market Landscape
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power Among Buyers
3.4. Market Share Analysis/Top Player Positioning
3.4.1. Market Share Analysis/Top Player Positioning 2020
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. Covid-19 Impact Analysis
3.7. Competitive Heat Map

Chapter 4: Travel Insurance Market, by Coverage Type
4.1. Market Overview
4.1.1 Market Size and Forecast, by Coverage Type
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 Share 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 Share Analysis, by Country

Chapter 5: Travel Insurance Market, by Distribution Channel
5.1. Market Overview
5.1.1 Market Size and Forecast, by Distribution Channel
5.2. Insurance Intermediaries
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Share Analysis, by Country
5.3. Insurance Companies
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Share Analysis, by Country
5.4. Banks
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, by Region
5.4.3. Market Share Analysis, by Country
5.5. Insurance Brokers
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, by Region
5.5.3. Market Share Analysis, by Country
5.6. Insurance Aggregators
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, by Region
5.6.3. Market Share Analysis, by Country

Chapter 6: Travel Insurance Market, by End-user
6.1. Market Overview
6.1.1 Market Size and Forecast, by End-user
6.2. Senior Citizens
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Share Analysis, by Country
6.3. Education Travelers
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Share Analysis, by Country
6.4. Business Travelers
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast, by Region
6.4.3. Market Share Analysis, by Country
6.5. Family Travelers
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast, by Region
6.5.3. Market Share Analysis, by Country
6.6. Others
6.6.1. Key Market Trends, Growth Factors and Opportunities
6.6.2. Market Size and Forecast, by Region
6.6.3. Market Share Analysis, by Country

Chapter 7: Travel Insurance Market, by Region

Chapter 8: Company Profiles
8.1. Allianz Se
8.1.1. Company Overview
8.1.2. Key Executives
8.1.3. Company Snapshot
8.1.4. Operating Business Segments
8.1.5. Product Portfolio
8.1.6. Business Performance
8.1.7. Key Strategic Moves and Developments
8.2. American International Group Inc.
8.2.1. Company Overview
8.2.2. Key Executives
8.2.3. Company Snapshot
8.2.4. Operating Business Segments
8.2.5. Product Portfolio
8.2.6. Business Performance
8.2.7. Key Strategic Moves and Developments
8.3. Assicurazioni Generali S. P. A.
8.3.1. Company Overview
8.3.2. Key Executives
8.3.3. Company Snapshot
8.3.4. Operating Business Segments
8.3.5. Product Portfolio
8.3.6. Business Performance
8.3.7. Key Strategic Moves and Developments
8.4. Axa
8.4.1. Company Overview
8.4.2. Key Executives
8.4.3. Company Snapshot
8.4.4. Operating Business Segments
8.4.5. Product Portfolio
8.4.6. Business Performance
8.4.7. Key Strategic Moves and Developments
8.5. Insure and Go Insurance Services Limited
8.5.1. Company Overview
8.5.2. Key Executives
8.5.3. Company Snapshot
8.5.4. Operating Business Segments
8.5.5. Product Portfolio
8.5.6. Business Performance
8.5.7. Key Strategic Moves and Developments
8.6. Trip Mate, Inc.
8.6.1. Company Overview
8.6.2. Key Executives
8.6.3. Company Snapshot
8.6.4. Operating Business Segments
8.6.5. Product Portfolio
8.6.6. Business Performance
8.6.7. Key Strategic Moves and Developments
8.7. Seven Corners, Inc.
8.7.1. Company Overview
8.7.2. Key Executives
8.7.3. Company Snapshot
8.7.4. Operating Business Segments
8.7.5. Product Portfolio
8.7.6. Business Performance
8.7.7. Key Strategic Moves and Developments
8.8. Travel Insured International
8.8.1. Company Overview
8.8.2. Key Executives
8.8.3. Company Snapshot
8.8.4. Operating Business Segments
8.8.5. Product Portfolio
8.8.6. Business Performance
8.8.7. Key Strategic Moves and Developments
8.9. Travel Safe Insurance
8.9.1. Company Overview
8.9.2. Key Executives
8.9.3. Company Snapshot
8.9.4. Operating Business Segments
8.9.5. Product Portfolio
8.9.6. Business Performance
8.9.7. Key Strategic Moves and Developments
8.10. Usi Insurance Services, LLC
8.10.1. Company Overview
8.10.2. Key Executives
8.10.3. Company Snapshot
8.10.4. Operating Business Segments
8.10.5. Product Portfolio
8.10.6. Business Performance
8.10.7. Key Strategic Moves and Developments