Travel Insurance Market Size to 2028: Market Capacity, Revenue Generation, Investment Trends, Regulations and Opportunities

Travel Insurance Market is valued approximately at USD 15.60 billion in 2019 and is anticipated to grow with a CAGR of 14.44% over the forecast period 2022-2028.

London, UK — (SBWIRE) — 02/23/2022 — Tourism accounts a significant share of International Trade services with rise in the number of international tourists worldwide. For Instance: As per data from United Nation World Tourism Organization, in the first half of 2019, 4% rise in the number of international tourists travel worldwide has been noticed. Such tremendous rise in the tourism industry over the years is the major factor driving the growth of the market over the forecast period. Further, with rising number of travelers, increasing awareness among young travelers regarding the need to secure their travels from medical and non-medical emergencies boosts the market growth. As per the reports by Account Activity Analysis (AAA) Foundation in 2018, 38% of the US population has increased and started investing in the travel insurance for future travels. Rise in the protection for trip cancellation and protect their monetary investment is the major priority for the travelers to opt for travel insurance. Travel insurance ensures security for the travel in several ways with the use of data analytics to predict precise and accurate plan for the traveler.

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Major key Company Profiles Included in Travel Insurance Market are:

-Allianz SE (Germany)
-Munich Reinsurance America (US)
-American Express Company (US)
-Travelex Insurance Services (US)
-Bajaj Finserv Limited (India)
-China Pacific Life Insurance Co., Ltd. (China)
-MS&AD Insurance Group Holdings (Japan)
-Munich Re Group (Germany)
-Ping An Insurance (China)
-Prudential Financial, Inc. (US)

The detailed segments and sub-segment of the market are explained below:

By Insurance Cover:
-Single Trip Travel Insurance
-Annual Multi-Trip Travel Insurance
-Long-Stay Travel Insurance

By Distribution Channel:
-Insurance Intermediaries
-Insurance Company
-Bank
-Insurance Broker
-Insurance Aggregator
-Others

By User:
-Senior Citizens
-Education Traveller
-Backpacker
-Business Traveller
-Family Traveller
-Fully independent Traveller

The Travel Insurance industry is one of the most promising markets in the world, as there are many factors influencing the demand and supply. Technological progress and development plans in the market are helping the Travel Insurance market to grow rapidly. The report offers a detailed outline of the industry, including growth, demand and supply, import-export scenario and the status of technological developments. The report also includes development plans of international players in order to enhance their growth and economy.
The Travel Insurance Market report provides in-depth analysis of the global market, with a special focus on regional markets. The report provides a holistic overview of the market, including key trends and drivers, information about products and services, vendor landscape, and detailed profiles of the leading vendors in the market.

Travel Insurance Market Segmentation Analysis

The Travel Insurance research report discusses market segmentation by product type, application, end-user, and geography. The study investigates the industry’s growth objectives, as well as cost awareness and manufacturing practices. The market research contains an overview of the basic industry, as well as classification, definition, and, as a result, the structure of the supply and demand chain. Global research covers global marketing data, competitive climate surveys, growth rates, and information on crucial development status.

Regional Analysis

Geographically, the Travel Insurance market is divided into regions such as North America, Latin America, Europe, Asia Pacific, and the Rest of the World. Research covers everything from production and consumer ratios to market size and market share, import and export ratios, supply and demand, consumer demand ratios, technological improvements, R&D, infrastructure development, economic growth, and a strong market presence in every region. The regional analysis will help players to identify the lucrative marketplaces to grab the emerging opportunities.

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Competitive Outlook

The industry’s most notable acquisitions, collaborations, and product launches are highlighted in the Travel Insurance market research. The study report employs advanced research approaches such as SWOT and Porter’s Five Forces analysis to provide deeper insights into important actors. The study gives a broad overview of the global competitive landscape as well as vital insights into the major rivals and their expansion ambitions. It also includes crucial data on financial conditions, global positioning, product portfolios, income and gross profit margins, as well as technology and research advancements.

Table of Contents โ€“ Major Key Points

Chapter 1. Executive Summary

Chapter 2. Global Travel Insurance Market Definition and Scope

Chapter 3. Global Travel Insurance Market Dynamics

Chapter 4. Global Travel Insurance Market Industry Analysis

Chapter 5. Global Travel Insurance Market, by Insurance Cover

Chapter 6. Global Travel Insurance Market, by Distribution Channel

Chapter 7. Global Travel Insurance Market, by User

Chapter 8. Global Travel Insurance Market, Regional Analysis

Chapter 9. Competitive Intelligence

Chapter 10. Research Process

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