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Travel Insurance-Global Market Insights and Sales Trends 2024

Travel Insurance-Global Market Insights and Sales Trends 2024

Publishing Date : Nov, 2023

License Type :
 

Report Code : 1816263

No of Pages : 113

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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 size is expected to reach US$ 32540 million by 2029, growing at a CAGR of 6.5% from 2023 to 2029. The market is mainly driven by the significant applications of Travel Insurance in various end use industries. The expanding demands from the Family Traveler, Senior Citizens, Business Traveler and Other, are propelling Travel Insurance market. Trip Cancellation, 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 Delay segment is estimated at % CAGR for the next seven-year period.

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.

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 Travel 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 Travel 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 Travel Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Travel 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 Travel Insurance covered in this report include Allianz, Munich Re Group, AIG, Assicurazioni Generali, Prudential, ACE&Chubb, Manulife, UnitedHealthcare Global and Mapfre, etc.

The global Travel 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 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

Global Travel 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 Travel Insurance market, Segment by Type:

  • Trip Cancellation
  • Trip Delay
  • Medical Expense
  • Property Damage
  • Other

Global Travel Insurance market, by Application

  • Family Traveler
  • Senior Citizens
  • Business Traveler
  • Other

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 Travel 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

Index

1 Market Overview of Travel Insurance
1.1 Travel Insurance Market Overview
1.1.1 Travel Insurance Product Scope
1.1.2 Travel Insurance Market Status and Outlook
1.2 Global Travel Insurance Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Travel Insurance Market Size by Region (2018-2029)
1.4 Global Travel Insurance Historic Market Size by Region (2018-2023)
1.5 Global Travel Insurance Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Travel Insurance Market Size (2018-2029)
1.6.1 North America Travel Insurance Market Size (2018-2029)
1.6.2 Europe Travel Insurance Market Size (2018-2029)
1.6.3 Asia-Pacific Travel Insurance Market Size (2018-2029)
1.6.4 Latin America Travel Insurance Market Size (2018-2029)
1.6.5 Middle East & Africa Travel Insurance Market Size (2018-2029)
2 Travel Insurance Market by Type
2.1 Introduction
2.1.1 Trip Cancellation
2.1.2 Trip Delay
2.1.3 Medical Expense
2.1.4 Property Damage
2.1.5 Other
2.2 Global Travel Insurance Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Travel Insurance Historic Market Size by Type (2018-2023)
2.2.2 Global Travel Insurance Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Travel Insurance Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Travel Insurance Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Travel Insurance Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Travel Insurance Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Travel Insurance Revenue Breakdown by Type (2018-2029)
3 Travel Insurance Market Overview by Application
3.1 Introduction
3.1.1 Family Traveler
3.1.2 Senior Citizens
3.1.3 Business Traveler
3.1.4 Other
3.2 Global Travel Insurance Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Travel Insurance Historic Market Size by Application (2018-2023)
3.2.2 Global Travel Insurance Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Travel Insurance Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Travel Insurance Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Travel Insurance Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Travel Insurance Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Travel Insurance Revenue Breakdown by Application (2018-2029)
4 Travel Insurance Competition Analysis by Players
4.1 Global Travel 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 Travel Insurance as of 2022)
4.3 Date of Key Players Enter into Travel Insurance Market
4.4 Global Top Players Travel Insurance Headquarters and Area Served
4.5 Key Players Travel Insurance Product Solution and Service
4.6 Competitive Status
4.6.1 Travel 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 Travel Insurance Products, Services and Solutions
5.1.4 Allianz Travel Insurance Revenue (US$ Million) & (2018-2023)
5.1.5 Allianz Recent Developments
5.2 Munich Re Group
5.2.1 Munich Re Group Profile
5.2.2 Munich Re Group Main Business
5.2.3 Munich Re Group Travel Insurance Products, Services and Solutions
5.2.4 Munich Re Group Travel Insurance Revenue (US$ Million) & (2018-2023)
5.2.5 Munich Re Group Recent Developments
5.3 AIG
5.3.1 AIG Profile
5.3.2 AIG Main Business
5.3.3 AIG Travel Insurance Products, Services and Solutions
5.3.4 AIG Travel Insurance Revenue (US$ Million) & (2018-2023)
5.3.5 Assicurazioni Generali Recent Developments
5.4 Assicurazioni Generali
5.4.1 Assicurazioni Generali Profile
5.4.2 Assicurazioni Generali Main Business
5.4.3 Assicurazioni Generali Travel Insurance Products, Services and Solutions
5.4.4 Assicurazioni Generali Travel Insurance Revenue (US$ Million) & (2018-2023)
5.4.5 Assicurazioni Generali Recent Developments
5.5 Prudential
5.5.1 Prudential Profile
5.5.2 Prudential Main Business
5.5.3 Prudential Travel Insurance Products, Services and Solutions
5.5.4 Prudential Travel Insurance Revenue (US$ Million) & (2018-2023)
5.5.5 Prudential Recent Developments
5.6 ACE&Chubb
5.6.1 ACE&Chubb Profile
5.6.2 ACE&Chubb Main Business
5.6.3 ACE&Chubb Travel Insurance Products, Services and Solutions
5.6.4 ACE&Chubb Travel Insurance Revenue (US$ Million) & (2018-2023)
5.6.5 ACE&Chubb Recent Developments
5.7 Manulife
5.7.1 Manulife Profile
5.7.2 Manulife Main Business
5.7.3 Manulife Travel Insurance Products, Services and Solutions
5.7.4 Manulife Travel Insurance Revenue (US$ Million) & (2018-2023)
5.7.5 Manulife Recent Developments
5.8 UnitedHealthcare Global
5.8.1 UnitedHealthcare Global Profile
5.8.2 UnitedHealthcare Global Main Business
5.8.3 UnitedHealthcare Global Travel Insurance Products, Services and Solutions
5.8.4 UnitedHealthcare Global Travel Insurance Revenue (US$ Million) & (2018-2023)
5.8.5 UnitedHealthcare Global Recent Developments
5.9 Mapfre
5.9.1 Mapfre Profile
5.9.2 Mapfre Main Business
5.9.3 Mapfre Travel Insurance Products, Services and Solutions
5.9.4 Mapfre Travel Insurance Revenue (US$ Million) & (2018-2023)
5.9.5 Mapfre Recent Developments
5.10 AXA
5.10.1 AXA Profile
5.10.2 AXA Main Business
5.10.3 AXA Travel Insurance Products, Services and Solutions
5.10.4 AXA Travel Insurance Revenue (US$ Million) & (2018-2023)
5.10.5 AXA Recent Developments
5.11 Tokio Marine Holdings
5.11.1 Tokio Marine Holdings Profile
5.11.2 Tokio Marine Holdings Main Business
5.11.3 Tokio Marine Holdings Travel Insurance Products, Services and Solutions
5.11.4 Tokio Marine Holdings Travel Insurance Revenue (US$ Million) & (2018-2023)
5.11.5 Tokio Marine Holdings Recent Developments
5.12 China Pacific insurance
5.12.1 China Pacific insurance Profile
5.12.2 China Pacific insurance Main Business
5.12.3 China Pacific insurance Travel Insurance Products, Services and Solutions
5.12.4 China Pacific insurance Travel Insurance Revenue (US$ Million) & (2018-2023)
5.12.5 China Pacific insurance Recent Developments
5.13 Hanse Merkur
5.13.1 Hanse Merkur Profile
5.13.2 Hanse Merkur Main Business
5.13.3 Hanse Merkur Travel Insurance Products, Services and Solutions
5.13.4 Hanse Merkur Travel Insurance Revenue (US$ Million) & (2018-2023)
5.13.5 Hanse Merkur Recent Developments
5.14 Ping An Insurance (Group) Company of China
5.14.1 Ping An Insurance (Group) Company of China Profile
5.14.2 Ping An Insurance (Group) Company of China Main Business
5.14.3 Ping An Insurance (Group) Company of China Travel Insurance Products, Services and Solutions
5.14.4 Ping An Insurance (Group) Company of China Travel Insurance Revenue (US$ Million) & (2018-2023)
5.14.5 Ping An Insurance (Group) Company of China Recent Developments
5.15 People's insurance company of China
5.15.1 People's insurance company of China Profile
5.15.2 People's insurance company of China Main Business
5.15.3 People's insurance company of China Travel Insurance Products, Services and Solutions
5.15.4 People's insurance company of China Travel Insurance Revenue (US$ Million) & (2018-2023)
5.15.5 People's insurance company of China Recent Developments
5.16 China Life
5.16.1 China Life Profile
5.16.2 China Life Main Business
5.16.3 China Life Travel Insurance Products, Services and Solutions
5.16.4 China Life Travel Insurance Revenue (US$ Million) & (2018-2023)
5.16.5 China Life Recent Developments
5.17 Sompo Japan Nipponkoa
5.17.1 Sompo Japan Nipponkoa Profile
5.17.2 Sompo Japan Nipponkoa Main Business
5.17.3 Sompo Japan Nipponkoa Travel Insurance Products, Services and Solutions
5.17.4 Sompo Japan Nipponkoa Travel Insurance Revenue (US$ Million) & (2018-2023)
5.17.5 Sompo Japan Nipponkoa Recent Developments
6 North America
6.1 North America Travel Insurance Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Travel 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 Travel 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 Travel 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 Travel 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 Travel Insurance Market Dynamics
11.1 Travel Insurance Industry Trends
11.2 Travel Insurance Market Drivers
11.3 Travel Insurance Market Challenges
11.4 Travel 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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