Global Travel Insurance Market - Market Size, Share & Industry Trends, Growth Analysis Report By Product Type, By Consumption and Forecast 2019 - 2025


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Introduction

Travel Insurance Market was valued at USD X.X Billion in 2018 and is projected to reach USD X.X billion by 2025, at a CAGR of X.X % from 2019-2025. A series of unusual events of natural disasters and terrorist attacks in 2015, such as Ebola epidemic, Nepal earthquake, and the Paris attack has increased the usage of travel insurance policies. Moreover, factors, such as growth in tourism, the rise in globalization, and trade practices have made travel insurance industry more attractive. Travel insurance provides an extensive range of benefits for events, such as trip cancellation due to a medical emergency, loss of baggage, evacuation due to a medical condition or hijack, and loss of travel documents.

Geographical Overview

At a global level, North America region was holding the highest market share in 2018. Whereas, Asia Pacific region is considered as the fastest growing region with key players adopting expansion strategy in this region to gain maximum market share in the coming years. China and India are offering ample opportunities for the growth of Travel Insurance Market with its high population base. The market has further been analyzed across geographical regions namely North America (U.S., Canada, and Mexico), Europe (U.K., Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Segmental Overview
Travel Insurance Market is segmented as per below specifications -  

By Product Type: 
• Single Trip Travel Insurance
• Annual Multi-Trip Travel Insurance
• Long-Stay Travel Insurance

By Consumption: 
• Senior Citizens (Above age of 60 years)
• Education Traveler
• Backpackers

By Distribution Channel: 
• Insurance Intermediaries
• Insurance Company
• Bank
• Insurance Broker

Competitor Analysis
Travel Insurance Market has presence of some of the key major players across globe which includes
• CSA Travel Protection
• USI Affinity
• Seven Corners Inc.
• Travel Safe
• MH Ross
• Allianz Global Assistance
• Travel Insured International
• AXA SA
• AIG Travel
• InsureandGo.

These key players are concentrating its efforts on the continuous product improvement with innovative initiatives to have an edge over other competitors. Further, to garner maximum market share, companies are adopting merger/ acquisition/ partnership and maintaining strong distribution networks strategies.  

By Geographical Locations: 
• North America
o U.S.
o Canada
• Europe
o U.K.
o France
o Italy
o Germany
o Spain
o Russia & CIS
o Rest of Europe
• Asia-Pacific
o China 
o India
o Japan
o South Korea
o ASEAN
o Rest of Asia Pacific 
• Latin America
o Brazil
o Argentina
o Rest of LATAM
• Middle East & Africa
o UAE
o South Africa
o Rest of MEA

Highlights of the report
What is Travel Insurance Market?
Who all are key market players in the industry?
How the Parent Industry is growing?
Where are the key opportunities for new market entrant?
A comprehensive analysis, which covers key growth factors across the value chain
Recent developments in market
Granular Market Segmentation 
Market size projection based on Historical & current market trends 
Market share analysis and key strategies adopted by leading Players
Production Cost & Sensitivity Analysis
Country Level Market Analysis of Top 16 countries
Data Driven Decision Recommendations