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Tourism Insurance-Global Market Insights and Sales Trends 2024
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 Tourism Insurance market size is expected to reach US$ 26820 million by 2029, growing at a CAGR of 3.6% from 2023 to 2029. The market is mainly driven by the significant applications of Tourism Insurance in various end use industries. The expanding demands from the Domestic Tourism and Oversea Tourism, are propelling Tourism Insurance market. Medical Expense, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Trip Cancellation segment is estimated at % CAGR for the next seven-year period.
In 2022, the gradual relaxation of epidemic prevention and control measures around the world will have a positive impact on the rapid recovery of the tourism industry. According to data from the World Tourism Organization, the number of global travelers exceeded 900 million in 2022, a two-fold increase compared to 2021. In 2022, international tourism revenue returned to the US$ 1 trillion, a real increase of 50% compared with 2021. According to data from the Ministry of Culture and Tourism of China, in 2022, the total number of domestic tourists was ¥ 2.53 billion, and the domestic tourism revenue (total tourism consumption) was ¥ 2 trillion.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Tourism Insurance, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Tourism Insurance market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Tourism Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Tourism Insurance sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Tourism Insurance covered in this report include Allianz, Munich RE, Generali, AXA, Hanse Merkur, Groupama, Mapfre Asistencia, AIG and CSA Travel Protection, etc.
The global Tourism Insurance market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Allianz
Munich RE
Generali
AXA
Hanse Merkur
Groupama
Mapfre Asistencia
AIG
CSA Travel Protection
USI Affinity
Seven Corners
MH Ross
Tokio Marine
Sompo Japan
Pingan Baoxian
STARR
Insubuy
Global Tourism Insurance market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Tourism Insurance market, Segment by Type:
Medical Expense
Trip Cancellation
Trip Delay
Property Damage
Others
Global Tourism Insurance market, by Application
Domestic Tourism
Oversea Tourism
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). 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 Two: 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 Three: 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 Four: Detailed analysis of Tourism Insurance companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: 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 Twelve: Research Finding/Conclusion
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 Tourism Insurance market size is expected to reach US$ 26820 million by 2029, growing at a CAGR of 3.6% from 2023 to 2029. The market is mainly driven by the significant applications of Tourism Insurance in various end use industries. The expanding demands from the Domestic Tourism and Oversea Tourism, are propelling Tourism Insurance market. Medical Expense, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Trip Cancellation segment is estimated at % CAGR for the next seven-year period.
In 2022, the gradual relaxation of epidemic prevention and control measures around the world will have a positive impact on the rapid recovery of the tourism industry. According to data from the World Tourism Organization, the number of global travelers exceeded 900 million in 2022, a two-fold increase compared to 2021. In 2022, international tourism revenue returned to the US$ 1 trillion, a real increase of 50% compared with 2021. According to data from the Ministry of Culture and Tourism of China, in 2022, the total number of domestic tourists was ¥ 2.53 billion, and the domestic tourism revenue (total tourism consumption) was ¥ 2 trillion.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Tourism Insurance, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Tourism Insurance market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Tourism Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Tourism Insurance sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Tourism Insurance covered in this report include Allianz, Munich RE, Generali, AXA, Hanse Merkur, Groupama, Mapfre Asistencia, AIG and CSA Travel Protection, etc.
The global Tourism Insurance market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Allianz
Munich RE
Generali
AXA
Hanse Merkur
Groupama
Mapfre Asistencia
AIG
CSA Travel Protection
USI Affinity
Seven Corners
MH Ross
Tokio Marine
Sompo Japan
Pingan Baoxian
STARR
Insubuy
Global Tourism Insurance market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Tourism Insurance market, Segment by Type:
Medical Expense
Trip Cancellation
Trip Delay
Property Damage
Others
Global Tourism Insurance market, by Application
Domestic Tourism
Oversea Tourism
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). 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 Two: 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 Three: 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 Four: Detailed analysis of Tourism Insurance companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: 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 Twelve: Research Finding/Conclusion
Index1 Market Overview of Tourism Insurance
1.1 Tourism Insurance Market Overview
1.1.1 Tourism Insurance Product Scope
1.1.2 Tourism Insurance Market Status and Outlook
1.2 Global Tourism Insurance Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Tourism Insurance Market Size by Region (2018-2029)
1.4 Global Tourism Insurance Historic Market Size by Region (2018-2023)
1.5 Global Tourism Insurance Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Tourism Insurance Market Size (2018-2029)
1.6.1 North America Tourism Insurance Market Size (2018-2029)
1.6.2 Europe Tourism Insurance Market Size (2018-2029)
1.6.3 Asia-Pacific Tourism Insurance Market Size (2018-2029)
1.6.4 Latin America Tourism Insurance Market Size (2018-2029)
1.6.5 Middle East & Africa Tourism Insurance Market Size (2018-2029)
2 Tourism Insurance Market by Type
2.1 Introduction
2.1.1 Medical Expense
2.1.2 Trip Cancellation
2.1.3 Trip Delay
2.1.4 Property Damage
2.1.5 Others
2.2 Global Tourism Insurance Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Tourism Insurance Historic Market Size by Type (2018-2023)
2.2.2 Global Tourism Insurance Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Tourism Insurance Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Tourism Insurance Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Tourism Insurance Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Tourism Insurance Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Tourism Insurance Revenue Breakdown by Type (2018-2029)
3 Tourism Insurance Market Overview by Application
3.1 Introduction
3.1.1 Domestic Tourism
3.1.2 Oversea Tourism
3.2 Global Tourism Insurance Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Tourism Insurance Historic Market Size by Application (2018-2023)
3.2.2 Global Tourism Insurance Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Tourism Insurance Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Tourism Insurance Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Tourism Insurance Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Tourism Insurance Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Tourism Insurance Revenue Breakdown by Application (2018-2029)
4 Tourism Insurance Competition Analysis by Players
4.1 Global Tourism Insurance Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Tourism Insurance as of 2022)
4.3 Date of Key Players Enter into Tourism Insurance Market
4.4 Global Top Players Tourism Insurance Headquarters and Area Served
4.5 Key Players Tourism Insurance Product Solution and Service
4.6 Competitive Status
4.6.1 Tourism Insurance Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 Allianz
5.1.1 Allianz Profile
5.1.2 Allianz Main Business
5.1.3 Allianz Tourism Insurance Products, Services and Solutions
5.1.4 Allianz Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.1.5 Allianz Recent Developments
5.2 Munich RE
5.2.1 Munich RE Profile
5.2.2 Munich RE Main Business
5.2.3 Munich RE Tourism Insurance Products, Services and Solutions
5.2.4 Munich RE Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.2.5 Munich RE Recent Developments
5.3 Generali
5.3.1 Generali Profile
5.3.2 Generali Main Business
5.3.3 Generali Tourism Insurance Products, Services and Solutions
5.3.4 Generali Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.3.5 AXA Recent Developments
5.4 AXA
5.4.1 AXA Profile
5.4.2 AXA Main Business
5.4.3 AXA Tourism Insurance Products, Services and Solutions
5.4.4 AXA Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.4.5 AXA Recent Developments
5.5 Hanse Merkur
5.5.1 Hanse Merkur Profile
5.5.2 Hanse Merkur Main Business
5.5.3 Hanse Merkur Tourism Insurance Products, Services and Solutions
5.5.4 Hanse Merkur Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.5.5 Hanse Merkur Recent Developments
5.6 Groupama
5.6.1 Groupama Profile
5.6.2 Groupama Main Business
5.6.3 Groupama Tourism Insurance Products, Services and Solutions
5.6.4 Groupama Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.6.5 Groupama Recent Developments
5.7 Mapfre Asistencia
5.7.1 Mapfre Asistencia Profile
5.7.2 Mapfre Asistencia Main Business
5.7.3 Mapfre Asistencia Tourism Insurance Products, Services and Solutions
5.7.4 Mapfre Asistencia Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.7.5 Mapfre Asistencia Recent Developments
5.8 AIG
5.8.1 AIG Profile
5.8.2 AIG Main Business
5.8.3 AIG Tourism Insurance Products, Services and Solutions
5.8.4 AIG Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.8.5 AIG Recent Developments
5.9 CSA Travel Protection
5.9.1 CSA Travel Protection Profile
5.9.2 CSA Travel Protection Main Business
5.9.3 CSA Travel Protection Tourism Insurance Products, Services and Solutions
5.9.4 CSA Travel Protection Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.9.5 CSA Travel Protection Recent Developments
5.10 USI Affinity
5.10.1 USI Affinity Profile
5.10.2 USI Affinity Main Business
5.10.3 USI Affinity Tourism Insurance Products, Services and Solutions
5.10.4 USI Affinity Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.10.5 USI Affinity Recent Developments
5.11 Seven Corners
5.11.1 Seven Corners Profile
5.11.2 Seven Corners Main Business
5.11.3 Seven Corners Tourism Insurance Products, Services and Solutions
5.11.4 Seven Corners Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.11.5 Seven Corners Recent Developments
5.12 MH Ross
5.12.1 MH Ross Profile
5.12.2 MH Ross Main Business
5.12.3 MH Ross Tourism Insurance Products, Services and Solutions
5.12.4 MH Ross Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.12.5 MH Ross Recent Developments
5.13 Tokio Marine
5.13.1 Tokio Marine Profile
5.13.2 Tokio Marine Main Business
5.13.3 Tokio Marine Tourism Insurance Products, Services and Solutions
5.13.4 Tokio Marine Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.13.5 Tokio Marine Recent Developments
5.14 Sompo Japan
5.14.1 Sompo Japan Profile
5.14.2 Sompo Japan Main Business
5.14.3 Sompo Japan Tourism Insurance Products, Services and Solutions
5.14.4 Sompo Japan Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.14.5 Sompo Japan Recent Developments
5.15 Pingan Baoxian
5.15.1 Pingan Baoxian Profile
5.15.2 Pingan Baoxian Main Business
5.15.3 Pingan Baoxian Tourism Insurance Products, Services and Solutions
5.15.4 Pingan Baoxian Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.15.5 Pingan Baoxian Recent Developments
5.16 STARR
5.16.1 STARR Profile
5.16.2 STARR Main Business
5.16.3 STARR Tourism Insurance Products, Services and Solutions
5.16.4 STARR Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.16.5 STARR Recent Developments
5.17 Insubuy
5.17.1 Insubuy Profile
5.17.2 Insubuy Main Business
5.17.3 Insubuy Tourism Insurance Products, Services and Solutions
5.17.4 Insubuy Tourism Insurance Revenue (US$ Million) & (2018-2023)
5.17.5 Insubuy Recent Developments
6 North America
6.1 North America Tourism Insurance Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Tourism Insurance Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Tourism Insurance Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Tourism Insurance Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Tourism Insurance Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Tourism Insurance Market Dynamics
11.1 Tourism Insurance Industry Trends
11.2 Tourism Insurance Market Drivers
11.3 Tourism Insurance Market Challenges
11.4 Tourism Insurance Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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