Travel Insurance Market by Insurance Cover (Single trip, Annual multi-trip, and Long stay), User (Senior citizens, Education travelers, Backpackers, Business travelers, Family travelers, and Fully independent travelers), and Distribution Channel (Insuranc

Travelling internationally is becoming easy with the increased aging population, growth in middle class, and improved infrastructure combined with technological advances and propelled demand for travel insurance. Low dependency ratio, rise in disposable income, more spare time, and rise in aspirations gave rise to Gen S travelers. A notable increase in the number of senior citizen travelers especially leisure travelers would have remarkable impact on travel insurance industry.

Travel Insurance Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $28,264 million by 2022, growing at a CAGR of 8.5% during the period 2016- 2022.In 2015, Europe lead the travel insurance market, followed by Asia-Pacific. Growth in the region has been supplemented by rise in number of senior citizen travelers, and increase in business travel expenditure.

Download PDF Report Sample @ https://www.alliedmarketresearch.com/request-sample/1610?utm_source=OPR

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. However, it is considered as an unrequired expense by a large pool of travelers. Lack of awareness and guidance is a major factor that refrains travelers from opting for travel insurance.

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. 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).

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.

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.

Make a Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/1610?utm_source=OPR

As per the UNWTO statistics, the outbound travel in the MENA (the Middle East and North Africa) region would continue to grow during the forecast period. By 2030, the region is expected to have a total of 81 million outbound travelers. These travelers tend to spend a significant amount of money while traveling, prefer to travel in large groups, and stay abroad for longer than an average tourist stay duration. In 2014, one in six of these travelers booked their trip online, highlighting the opportunity for travel insurance companies to add travel insurance as an additional product offering of such online purchases. Moreover, attractive tourist destinations and rise in a number of tech-savvy outbound travelers with high travel spending drive the demand for travel insurance in the Middle East.

For the African travel insurance market, increase in a number of tourists visiting African countries, and growth in demand for adventure trips in the region offer promising opportunities for market players.

Globally, the average insurance penetration stood at 6.3% in 2015. The major factors that attribute to the low percentage are level of economic development of different countries, the extent of the savings in financial instruments, and the reach of the insurance sector. It has been observed that in underdeveloped countries, such as Ethiopia, insurance penetration is as low as 0.3% and for developing countries, such as India it stands at 3.9%. The lack of awareness about insurance policies has acted as a major restraint for the insurance industry. To cater to the same, governments of different countries adopt different programs to spread awareness about insurance. For instance, Government of Australia launched “CHOICE initiative” to help Australians understand travel insurance better.

Key players profiled in this report are CSA Travel Protection, USI Affinity, Seven Corners Inc., TravelSafe Insurance, MH Ross Travel Insurance Services, Allianz Global Assistance, Travel Insured International, AXA SA, AIG Travel, and InsureandGo. Other players in the value chain include Berkshire Hathaway Specialty Insurance, Travelex Group, Tokio Marine HCC Medical Insurance Services Group, Aviva PLC, American Express Company, and Travel Insured International.

List of Figures

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP WINNING STRATEGIES
FIG. 3 TOP WINNING STRATEGIES COMPARISON, 2015(%)
FIG. 4 TOP INVESTMENT POCKETS (PRODUCT TYPE)
FIG. 5 VALUE CHAIN ANALYSIS
FIG. 6 PORTERS FIVE FORCES ANALYSIS
FIG. 7 MARKET PLAYER POSITIONING, 2015
FIG. 8 INTERNATIONAL TOURISTS ARRIVALS, 2000-2014 (%)
FIG. 9 COMPARITIVE MARKET SHARE ANALYSIS OF WORLD TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2014 & 2022 (%)
FIG. 10 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD TRAVEL INTERMEDIARIES TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 11 WORLD TRAVEL INTERMEDIARIES TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 12 TRAVEL INTERMEDIARIES TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 13 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD INSURANCE COMPANY TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 14 WORLD INSURANCE COMPANY TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 15 INSURANCE COMPANY TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 16 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD BANKS TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 17 WORLD BANK TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 18 BANK TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 19 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD INSURANCE BROKER TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 20 WORLD INSURANCE BROKERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 21 INSURANCE BROKERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 22 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD INSURANCE AGGREGATOR TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 23 WORLD INSURANCE AGGREGATORS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 24 INSURANCE AGGREGATORS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 25 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD OTHERS TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 26 WORLD OTHERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 27 OTHERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 28 COMPARITIVE MARKET SHARE ANALYSIS OF WORLD TRAVEL INSURANCE MARKET, BY INSURANCE COVER, 2014 & 2022 (%)
FIG. 29 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD SINGLE TRIP TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 30 WORLD SINGLE TRIP TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 31 SINGLE TRIP TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 32 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD ANNUAL MULTI-TRIP TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 33 WORLD ANNUAL MULTI-TRIP TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 34 ANNUAL MULTI-TRIP TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 35 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD LONG STAY TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 36 WORLD LONG STAY TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 37 LONG STAY TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 38 COMPARITIVE MARKET SHARE ANALYSIS OF WORLD TRAVEL INSURANCE MARKET, BY USERS, 2014 & 2022 (%)
FIG. 39 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD SENIOR CITIZEN TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 40 OUTBOUND LEISURE TRAVELERS OVER 65 YEARS OF AGE, BY ORIGIN
FIG. 41 WORLD SENIOR CITIZENS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 42 SENIOR CITIZENS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 43 BACKPACKERS TRAVELERS BY TYPE, 2015 (%)
FIG. 44 BACKPACKERS TRAVELERS BY GROUP TYPE, 2015 (%)
FIG. 45 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD BACKPACKERS TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 46 WORLD BACKPACKERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 47 BACKPACKERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 48 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD FAMILY TRAVELERS TRAVEL INSURANCE MARKET, 2014 & 2022 (%)
FIG. 49 WORLD FAMILY TRAVELERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 50 FAMILY TRAVELERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 51 GROWTH OF INTERNATIONAL EDUCATIONS MOBILITY
FIG. 52 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD EDUCATION TRAVELERS INSURANCE MARKET, 2014 & 2022 (%)
FIG. 53 WORLD EDUCATION TRAVELERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 54 EDUCATION TRAVELERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 55 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD FULY INDEPENDENT TRAVELERS INSURANCE MARKET, 2014 & 2022 (%)
FIG. 56 WORLD FULLY INDEPENDENT TRAVELERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 57 FULLY INDEPENDENT TRAVELERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 58 COMPARITIVE REGIONAL MARKET SHARE ANALYSIS OF WORLD BUSINESS TRAVELERS INSURANCE MARKET, 2014 & 2022 (%)
FIG. 59 WORLD BUSINESS TRAVELERS TRAVEL INSURANCE MARKET, BY REVENUE, 20142022 ($MILLION)
FIG. 60 BUSINESS TRAVELERS TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY GEOGRAPHY, 20142022 (%)
FIG. 61 COMPARITIVE MARKET SHARE ANALYSIS OF TRAVEL INSURANCE MARKET, BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 62 COMPARITIVE MARKET SHARE ANALYSIS OF NORTH AMERICA TRAVEL INSURANCE MARKET, BY COUNTRY, 2014 & 2022 (%)
FIG. 63 U.S. TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 64 CANADA TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 65 MEXICO TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 66 NORTH AMERICA TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY COUNTRY, 20142022 (%)
FIG. 67 COMPARITIVE MARKET SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET, BY COUNTRY, 2014 & 2022 (%)
FIG. 68 U.K. TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 69 FRANCE TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 70 GERMANY TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 71 REST OF EUROPE TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 72 EUROPE TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY COUNTRY, 20142022 (%)
FIG. 73 COMPARITIVE MARKET SHARE ANALYSIS OF LAMEA TRAVEL INSURANCE MARKET, BY COUNTRY, 2014 & 2022 (%)
FIG. 74 LATIN AMERICA TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 75 MIDDLE EAST TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 76 AFRICA TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 77 LAMEA TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY COUNTRY, 20142022 (%)
FIG. 78 COMPARITIVE MARKET SHARE ANALYSIS OF ASIA-PACIFIC TRAVEL INSURANCE MARKET, BY COUNTRY, 2014 & 2022 (%)
FIG. 79 CHINA TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 80 JAPAN TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 81 INDIA TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 82 AUSTRALIATRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 83 REST OF APAC TRAVEL INSURANCE MARKET REVENUE, 20142022 ($MILLION)
FIG. 84 ASIA-PACIFIC TRAVEL INSURANCE MARKET SHARE ANALYSIS, BY COUNTRY, 20142022 (%)
FIG. 85 CSA TRAVEL PROTECTION: REVENUE, 2013-2015 ($MILLION)
FIG. 86 CSA TRAVEL PROTECTION: REVENUE, BY GEOGRAPHY, 2015 (%)
FIG. 87 USI AFFINITY: REVENUE, 2013-2015 ($MILLION)
FIG. 88 USI AFFINITY: REVENUE, BY GEOGRAPHY, 2015 (%)
FIG. 89 SEVEN CORNERS INC.: REVENUE, 2013-2015 ($MILLION)
FIG. 90 SEVEN CORNERS INC.: REVENUE, BY GEOGRAPHY, 2015 (%)

Access Full Summery @ https://www.alliedmarketresearch.com/travel-insurance-market?utm_source=OPR

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.