Travel Insurance Market is Expected to Reach $28,264 million, By Top Leading Companies CSA Travel Protection, USI Affinity, Seven Corners Inc., Travel Safe, MH Ross, Allianz Global Assistance, Travel Insured International, AIG Travel, and InsureandGo.

The Travel Insurance Market share is expected to generate $28,264 million by 2022, growing at a CAGR of 8.5% during 20162022. In 2015, Europe leads the travel insurance industry, followed by Asia-Pacific.

Growth in tourism is the prime factor that drives the travel insurance market. According to UNWTO, international tourist arrivals grew at a rate of 4.4% in 2015 to reach a total of 1,184 million, with North America witnessing the highest inbound travel. With the growing tourist traffic, increased incidences of loss of luggage, important documents, medical emergencies, and natural calamities are being registered. To mitigate the risk associated with such incidences,more number of travelers are opting for travel insurance.

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In addition, there are several countries, where travel insurance is mandatory for obtaining VISA. For instance, to visit countries, such as the U.S., France, Belgium, Luxembourg, Norway, Finland, and Poland among others, travel health insurance is a must.

The global travel insurance market is segmented on the basis of insurance cover, distribution channels, users, and geography. Based on insurance cover, the market is classified into single trip travel insurance, annual multi-trip travel insurance and long stay travel insurance. Insurance policies are sold through different distribution channels, such as insurance intermediaries, insurance company, banks, insurance brokers, insurance aggregator, and others. Users who opt for travel insurance policies are backpackers, senior citizens, education traveler, business traveler, fully independent traveler, and family travelers.

Japan, Australia, U.S., and European countries, such as Italy, Greece, Germany, Portugal, and Finland among others are witnessing an increase in senior citizen (above the age of 60) population along with an increase in the percentage of travelers within this population group. The prime factors behind this surge in Gen S travelers include low dependency ratio, rise in disposable income, more spare time, and rise in aspirations. Visiting friends and relatives is also another factor that supplements the increase in a number of travelers.

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Over the next 20 years, all Asia-Pacific economies would see a significant increase in the number of older people and this trend would be particularly observed in Singapore, China, and Korea. The over the 50s, and more specifically the over 65s, shall account for an increasingly significant portion of leisure travelers predominantly in Australia and Japan, where over 65s now account for over 20% of all leisure travelers.

Market Players In The Travel Insurance Market

• CSA Travel Protection
• USI Affinity
• Seven Corners Inc.
• Travel Safe
• MH Ross
• Allianz Global Assistance
• Travel Insured International
• AXA SA
• AIG Travel
• InsureandGo.
• Berkshire Hathaway Specialty Insurance
• Travelex Group

List of Tables

TABLE 1 WORLD TRAVEL INSURANCE MARKET REVENUE, BY GROWING SEGMENTS, 2014-2022 ($MILLION)
TABLE 2 WORLD TRAVEL INSURANCE MARKET REVENUE BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 3 TRAVEL INTERMEDIARIES TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 4 INSURANCE COMPANY TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 5 BANK TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 6 INSURANCE BROKERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 7 INSURANCE AGGREGATORS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 8 OTHERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 9 WORLD TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 20142022 ($MILLION)
TABLE 10 SINGLE TRIP TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 11 ANNUAL MULTI- TRIP TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 12 LONG STAY TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 13 WORLD TRAVEL INSURANCE MARKET REVENUE, BY USERS, 20142022 ($MILLION)
TABLE 14 SENIOR CITIZENS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 15 BACKPACKERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 16 FAMILY TRAVELERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 17 EDUCATION TRAVELERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 18 FULLY INDEPENDENT TRAVELERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 19 BUSINESS TRAVELERS TRAVEL INSURANCE MARKET REVENUE, BY GEOGRAPHY, 20142022 ($MILLION)
TABLE 20 WORLD TRAVEL INSURANCE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 21 NORTH AMERICA TRAVEL INSURANCE MARKET REVENUE BY DISTRIBUTION CHANNEL, 2014-2022 ($MILLION)
TABLE 22 NORTH AMERICA TRAVEL INSURANCE MARKET REVENUE BY INSURANCE COVER, 2014-2022 ($MILLION)
TABLE 23 NORTH AMERICA TRAVEL INSURANCE MARKET REVENUE BY USERS, 2014-2022 ($MILLION)
TABLE 24 EUROPE TRAVEL INSURANCE MARKET REVENUE BY DISTRIBUTION CHANNEL, 2014-2022 ($MILLION)
TABLE 25 EUROPE TRAVEL INSURANCE MARKET REVENUE BY INSURANCE COVER, 2014-2022 ($MILLION)
TABLE 26 EUROPE TRAVEL INSURANCE MARKET REVENUE BY USERS, 2014-2022 ($MILLION)
TABLE 27 LAMEA TRAVEL INSURANCE MARKET REVENUE BY DISTRIBUTION CHANNEL, 2014-2022 ($MILLION)
TABLE 28 LAMEA TRAVEL INSURANCE MARKET REVENUE BY INSURANCE COVER, 2014-2022 ($MILLION)
TABLE 29 LAMEA TRAVEL INSURANCE MARKET REVENUE BY USERS, 2014-2022 ($MILLION)
TABLE 30 ASIA-PACIFIC TRAVEL INSURANCE MARKET REVENUE BY DISTRIBUTION CHANNEL, 2014-2022 ($MILLION)
TABLE 31 ASIA-PACIFIC TRAVEL INSURANCE MARKET REVENUE BY INSURANCE COVER, 2014-2022 ($MILLION)
TABLE 32 ASIA-PACIFIC TRAVEL INSURANCE MARKET REVENUE BY USERS, 2014-2022 ($MILLION)
TABLE 33 CSA TRAVEL PROTECTION-COMPANY SNAPSHOT
TABLE 34 CSA TRAVEL PROTECTION -OPERATING SEGMENTS
TABLE 35 USI AFFINITY-COMPANY SNAPSHOT
TABLE 36 USI AFFINITY-OPERATING SEGMENT
TABLE 37 SEVEN CORNERS INC.-COMPANY SNAPSHOT
TABLE 38 SEVEN CORNERS INC. - OPERATING SEGMENTS
TABLE 39 TRAVEL SAFE-COMPANY SNAPSHOT
TABLE 40 TRAVEL SAFE- OPERATING SEGMENTS
TABLE 41 MH ROSS-COMPANY SNAPSHOT
TABLE 42 MH ROSS- OPERATING SEGMENTS
TABLE 43 TRAVEL SAFE-COMPANY SNAPSHOT
TABLE 44 TRAVEL SAFE- OPERATING SEGMENTS
TABLE 45 ALLIANZ GLOBAL ASSISTANCE -COMPANY SNAPSHOT
TABLE 46 ALLIANZ GLOBAL ASSISTANCE - OPERATING SEGMENTS
TABLE 47 TRAVEL INSURED INTERNATIONAL-COMPANY SNAPSHOT
TABLE 48 TRAVEL INSURED INTERNATIONAL- OPERATING SEGMENTS
TABLE 49 AIG TRAVEL-COMPANY SNAPSHOT
TABLE 50 AIG TRAVEL- OPERATING SEGMENTS
TABLE 51 INSUREANDGO -COMPANY SNAPSHOT
TABLE 52 INSUREANDGO - OPERATING SEGMENTS

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