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Synopsis
Travel insurance is a product focused on protecting policyholders against specified losses, accidents or other adverse events, which may occur before or during travel. Examples include trip cancellation/interruption, overseas medical expenses for injury or illness, theft of valuables, and baggage delay or damage. Many travel insurance policies also include the provision of emergency medical assistance services, such as call center operating 24 hours, seven days a week, and an international network of specialist health care providers.
There are standard general exclusions and invalidations on most types of travel insurance policies (for example, self‑inflicted injury, acts of terrorism, non‑approved pre‑existing medical conditions, “dangerous” or extreme activities, and policyholders being under the influence of alcohol or drugs).
Travel insurance is generally available in two forms: (i) as a single-trip insurance policy, which provides cover for a specific trip and is matched to the exact characteristic of the trip (e.g. number of travelling days and destination) and (ii) as an annual insurance policy, which covers multiple trips in a year. Travel insurance can be purchased from travel agents, travel suppliers (airlines, hotels, cruise lines, tour operators) a private insurance firm, insurance brokers, or online. The GWP in this report all refer to the Gross written premium from Travel Insurance. The characteristics of fine travel insurance unit of measurement as follow:
The global Travel Insurance market was valued at US$ 20830 million in 2023 and is anticipated to reach US$ 32540 million by 2030, witnessing a CAGR of 6.5% during the forecast period 2024-2030.
The main global Travel Insurance players include Allianz, Munich Re Group, AIG, etc. The top three Travel Insurance players account for approximately 30% of the total global market. Asia-Pacific is the largest consumer market for Travel Insurance, accounting for about 26%, followed by Europe and North America. In terms of product, Trip Cancellation is the largest segment, with a share about 45%. And in terms of application, the largest application is Family Traveler, followed by Business Traveler.
This report aims to provide a comprehensive presentation of the global market for Travel Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Travel Insurance.
Report Scope
The Travel Insurance market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Travel Insurance market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Travel Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company (Partial List):
- Allianz
- Munich Re Group
- AIG
- Assicurazioni Generali
- Prudential
- ACE&Chubb
- Manulife
- UnitedHealthcare Global
- Mapfre
- AXA
- Tokio Marine Holdings
- China Pacific insurance
- Hanse Merkur
- Ping An Insurance (Group) Company of China
- People's insurance company of China
- China Life
- Sompo Japan Nipponkoa
Segment by Type
- Trip Cancellation
- Trip Delay
- Medical Expense
- Property Damage
- Other
Segment by Application
- Family Traveler
- Senior Citizens
- Business Traveler
- Other
Consumption by Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Netherlands)
- Asia-Pacific (China, Japan, South Korea, China Taiwan, Southeast Asia, India)
- Latin America, Middle East & Africa (Latin America, Mexico, Brazil, Turkey)
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Travel Insurance companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Travel Insurance Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Trip Cancellation
1.2.3 Trip Delay
1.2.4 Medical Expense
1.2.5 Property Damage
1.2.6 Other
1.3 Market by Application
1.3.1 Global Travel Insurance Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Family Traveler
1.3.3 Senior Citizens
1.3.4 Business Traveler
1.3.5 Other
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Travel Insurance Market Perspective (2019-2030)
2.2 Travel Insurance Growth Trends by Region
2.2.1 Global Travel Insurance Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Travel Insurance Historic Market Size by Region (2019-2024)
2.2.3 Travel Insurance Forecasted Market Size by Region (2025-2030)
2.3 Travel Insurance Market Dynamics
2.3.1 Travel Insurance Industry Trends
2.3.2 Travel Insurance Market Drivers
2.3.3 Travel Insurance Market Challenges
2.3.4 Travel Insurance Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Travel Insurance Players by Revenue
3.1.1 Global Top Travel Insurance Players by Revenue (2019-2024)
3.1.2 Global Travel Insurance Revenue Market Share by Players (2019-2024)
3.2 Global Travel Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Travel Insurance Revenue
3.4 Global Travel Insurance Market Concentration Ratio
3.4.1 Global Travel Insurance Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Travel Insurance Revenue in 2023
3.5 Travel Insurance Key Players Head office and Area Served
3.6 Key Players Travel Insurance Product Solution and Service
3.7 Date of Enter into Travel Insurance Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Travel Insurance Breakdown Data by Type
4.1 Global Travel Insurance Historic Market Size by Type (2019-2024)
4.2 Global Travel Insurance Forecasted Market Size by Type (2025-2030)
5 Travel Insurance Breakdown Data by Application
5.1 Global Travel Insurance Historic Market Size by Application (2019-2024)
5.2 Global Travel Insurance Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Travel Insurance Market Size (2019-2030)
6.2 North America Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Travel Insurance Market Size by Country (2019-2024)
6.4 North America Travel Insurance Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Travel Insurance Market Size (2019-2030)
7.2 Europe Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Travel Insurance Market Size by Country (2019-2024)
7.4 Europe Travel Insurance Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Travel Insurance Market Size (2019-2030)
8.2 Asia-Pacific Travel Insurance Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Travel Insurance Market Size by Region (2019-2024)
8.4 Asia-Pacific Travel Insurance Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Travel Insurance Market Size (2019-2030)
9.2 Latin America Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Travel Insurance Market Size by Country (2019-2024)
9.4 Latin America Travel Insurance Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Travel Insurance Market Size (2019-2030)
10.2 Middle East & Africa Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Travel Insurance Market Size by Country (2019-2024)
10.4 Middle East & Africa Travel Insurance Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Allianz
11.1.1 Allianz Company Detail
11.1.2 Allianz Business Overview
11.1.3 Allianz Travel Insurance Introduction
11.1.4 Allianz Revenue in Travel Insurance Business (2019-2024)
11.1.5 Allianz Recent Development
11.2 Munich Re Group
11.2.1 Munich Re Group Company Detail
11.2.2 Munich Re Group Business Overview
11.2.3 Munich Re Group Travel Insurance Introduction
11.2.4 Munich Re Group Revenue in Travel Insurance Business (2019-2024)
11.2.5 Munich Re Group Recent Development
11.3 AIG
11.3.1 AIG Company Detail
11.3.2 AIG Business Overview
11.3.3 AIG Travel Insurance Introduction
11.3.4 AIG Revenue in Travel Insurance Business (2019-2024)
11.3.5 AIG Recent Development
11.4 Assicurazioni Generali
11.4.1 Assicurazioni Generali Company Detail
11.4.2 Assicurazioni Generali Business Overview
11.4.3 Assicurazioni Generali Travel Insurance Introduction
11.4.4 Assicurazioni Generali Revenue in Travel Insurance Business (2019-2024)
11.4.5 Assicurazioni Generali Recent Development
11.5 Prudential
11.5.1 Prudential Company Detail
11.5.2 Prudential Business Overview
11.5.3 Prudential Travel Insurance Introduction
11.5.4 Prudential Revenue in Travel Insurance Business (2019-2024)
11.5.5 Prudential Recent Development
11.6 ACE&Chubb
11.6.1 ACE&Chubb Company Detail
11.6.2 ACE&Chubb Business Overview
11.6.3 ACE&Chubb Travel Insurance Introduction
11.6.4 ACE&Chubb Revenue in Travel Insurance Business (2019-2024)
11.6.5 ACE&Chubb Recent Development
11.7 Manulife
11.7.1 Manulife Company Detail
11.7.2 Manulife Business Overview
11.7.3 Manulife Travel Insurance Introduction
11.7.4 Manulife Revenue in Travel Insurance Business (2019-2024)
11.7.5 Manulife Recent Development
11.8 UnitedHealthcare Global
11.8.1 UnitedHealthcare Global Company Detail
11.8.2 UnitedHealthcare Global Business Overview
11.8.3 UnitedHealthcare Global Travel Insurance Introduction
11.8.4 UnitedHealthcare Global Revenue in Travel Insurance Business (2019-2024)
11.8.5 UnitedHealthcare Global Recent Development
11.9 Mapfre
11.9.1 Mapfre Company Detail
11.9.2 Mapfre Business Overview
11.9.3 Mapfre Travel Insurance Introduction
11.9.4 Mapfre Revenue in Travel Insurance Business (2019-2024)
11.9.5 Mapfre Recent Development
11.10 AXA
11.10.1 AXA Company Detail
11.10.2 AXA Business Overview
11.10.3 AXA Travel Insurance Introduction
11.10.4 AXA Revenue in Travel Insurance Business (2019-2024)
11.10.5 AXA Recent Development
11.11 Tokio Marine Holdings
11.11.1 Tokio Marine Holdings Company Detail
11.11.2 Tokio Marine Holdings Business Overview
11.11.3 Tokio Marine Holdings Travel Insurance Introduction
11.11.4 Tokio Marine Holdings Revenue in Travel Insurance Business (2019-2024)
11.11.5 Tokio Marine Holdings Recent Development
11.12 China Pacific insurance
11.12.1 China Pacific insurance Company Detail
11.12.2 China Pacific insurance Business Overview
11.12.3 China Pacific insurance Travel Insurance Introduction
11.12.4 China Pacific insurance Revenue in Travel Insurance Business (2019-2024)
11.12.5 China Pacific insurance Recent Development
11.13 Hanse Merkur
11.13.1 Hanse Merkur Company Detail
11.13.2 Hanse Merkur Business Overview
11.13.3 Hanse Merkur Travel Insurance Introduction
11.13.4 Hanse Merkur Revenue in Travel Insurance Business (2019-2024)
11.13.5 Hanse Merkur Recent Development
11.14 Ping An Insurance (Group) Company of China
11.14.1 Ping An Insurance (Group) Company of China Company Detail
11.14.2 Ping An Insurance (Group) Company of China Business Overview
11.14.3 Ping An Insurance (Group) Company of China Travel Insurance Introduction
11.14.4 Ping An Insurance (Group) Company of China Revenue in Travel Insurance Business (2019-2024)
11.14.5 Ping An Insurance (Group) Company of China Recent Development
11.15 People's insurance company of China
11.15.1 People's insurance company of China Company Detail
11.15.2 People's insurance company of China Business Overview
11.15.3 People's insurance company of China Travel Insurance Introduction
11.15.4 People's insurance company of China Revenue in Travel Insurance Business (2019-2024)
11.15.5 People's insurance company of China Recent Development
11.16 China Life
11.16.1 China Life Company Detail
11.16.2 China Life Business Overview
11.16.3 China Life Travel Insurance Introduction
11.16.4 China Life Revenue in Travel Insurance Business (2019-2024)
11.16.5 China Life Recent Development
11.17 Sompo Japan Nipponkoa
11.17.1 Sompo Japan Nipponkoa Company Detail
11.17.2 Sompo Japan Nipponkoa Business Overview
11.17.3 Sompo Japan Nipponkoa Travel Insurance Introduction
11.17.4 Sompo Japan Nipponkoa Revenue in Travel Insurance Business (2019-2024)
11.17.5 Sompo Japan Nipponkoa Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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