Trending Research: Travel Insurance Market Overview, Opportunities, Regional Outlook, Growth Impact, Competitive Strategies and Worldwide Demand During 2018-2023- Study Includes Global Key Player Like Allianz, Tokio Marine, USI Affinity, AXA, Hanse Merkur

The rise of low-cost airlines is the primary growth driver for this market. With the emergence of low-cost airlines, there has been an increase in the number of airport passengers. This, in turn, has led to an increase in the gross travel insurance premium, which has hiked the profit margins of the top travel insurance vendors.

Travel insurance provides protection against an unexpected medical cost and the number of risks faced by travelers. Governments of various countries and insurance regulatory bodies are taking initiatives to create awareness related to travel insurance. Moreover, various accessible channel provides an ease in having a travel insurance cover which is expected to create a demand in the Europe travel insurance market.

“Research N Reports Analyst Predicts The Travel Insurance Market Expected To Grow at a CAGR of +08% During Forecast Period.”

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Top Key Players Profiled in the report are:
Allianz, Tokio Marine, Munich RE, Generali, CSA Travel Protection, USI Affinity, AXA, Hanse Merkur, Groupama, Mapfre Asistencia, AIG, Seven Corners, MH Ross, Sompo Japan, Pingan Baoxian, STARR

The global travel insurance market is categorized by insurance cover, distribution channel, user and geography. Based on insurance coverage, the market is categorized as single travel insurance, annual multi travel insurance and long-term travel insurance. Insurance policies are sold through other distribution channels such as insurance brokers, insurance companies, banks, insurance brokers, and insurance aggregators. Users choosing travel insurance policies are backpackers, seniors, educational travelers, business travelers, fully independent travelers and family travelers.

Family travelers and seniors are expected to be the most concentrated cluster of end-user segments. This is because they travel for a long time and usually make group trips. Therefore, it is more important that they have a cover to travel safely while traveling. Family travelers have a relatively high market share in the European travel insurance market due to the trend of group travel in Europe, which is expected to increase demand for travel insurance policies. In the European travel insurance market, business travelers have gained market share as cross-border businesses that have access to cutting-edge resources and better technology. In addition, the growth trend of overseas education is expected to create demand for travel insurance for education tourists.

The Brexit process is also expected to provide significant opportunities for the travel insurance market because the majority of UK travelers traveling to Europe rely on EHIC instead of purchasing travel insurance. Also, the growth of the European travel insurance market is taking the chances of a long-term weekend trip for a family traveler who chose to keep their trip from various concerns, such as thieves, health risks and terrorism.

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European nations such as Japan, Australia, the United States, Italy, Greece, Germany, Portugal and Finland are seeing an increase in the elderly population as the proportion of travelers within this population increases. The main reason for the surge in Gen S travelers is low dependency ratios, disposable income increases, leisure time and aspirations. Visiting friends and acquaintances is also another factor supplementing the growth of many travelers.

The elderly population is expected to increase significantly in all Asia-Pacific economies over the next 20 years, and this trend is particularly observed in Singapore, China and Korea. Over 50 years old, especially over 65 years old, will account for a large proportion of leisure travelers in Australia and Japan, with over 65% of all leisure travelers making up over 25%.

Table of Contents
Global Travel Insurance Market Research Report.
Chapter 1 Travel Insurance Market Overview
Chapter 2 Global Economic Impact
Chapter 3 Competition by Manufacturer
Chapter 4 Production, Revenue (Value) by Region
Chapter 5 Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Production, Revenue (Value), Price Trend by Type
Chapter 7 Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Market Forecast
Continued…

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