Press release
Italy Travel Insurance Market Trend to 2023 Assistance SAS, AXA Group, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, Filo Diretto, Generali Group, Gruppo Cattolica Assicurazioni, MAPFRE S.A., Reale Mutua Assicurazioni
Italy Travel Insurance
The Italy travel insurance market was valued at $377 million in 2016, and is expected to reach $590 million by 2023, registering a CAGR of 6.6% from 2017 to 2023. The market is driven by factors such as upsurge in tourism sector, growth in baby boomer travelers, stringent travel rules and regulation by government authorities, and manifold rise in domestic and international travelers.
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The growth of the travel insurance market is largely attributed to the growth in trend of availing travel insurance as a prerequisite for obtaining Visa to ensure that travelers are adequately covered in case of medical emergencies due to hospitalization in foreign countries and high costs of medical services during travel time.
However, lack of awareness regarding various insurance schemes and benefits of travel insurance are expected to hamper the growth of the Italy travel insurance market. Moreover, relaxed norms and low fluctuation in rates due to large number of competitors have resulted in decline of gross written premium.
The market is segmented based on type of distribution channel, product types, end user, and geography. Based on product type, it is classified into single trip, annual multi-trip, and long stay.
Based on distribution channel, the market is classified into insurance intermediaries, insurance company, bank, insurance broker, insurance aggregators, and others. Based on end user, it is classified into senior citizens, education travelers, backpackers, business travelers, family travelers, and fully independent traveler.
Some of the significant players profiled in the report are Allianz global assistance SAS, AXA Group, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, Filo Diretto, Generali Group, Gruppo Cattolica Assicurazioni, MAPFRE S.A., Reale Mutua Assicurazioni, and UnipolSai Assicurazioni S.p.A. All these key players are involved in various strategic developments, such as partnerships, collaborations, mergers & acquisition and others to increase their market penetration in the industry.
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KEY BENEFITS FOR STAKEHOLDERS
In-depth analysis of the Italy travel insurance industry along with its dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the Italy travel insurance market and provides a clear understanding of the factors that influence the market entry and expansion.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Profile analysis of leading players that operate in the Italy travel insurance market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.
Italy Travel Insurance Market Key Segments:
By Product Type: 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 and Other
By End-User : Senior citizen, Education traveler, Backpackers, Business traveler, Family traveler and Fully independent traveler
By Geography: U.S., Canada, Mexico, Italy, Germany, Spain, Romania, China, Japan, India, Lamea, Latin America, Middle East, Africa.
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Table of content:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ITALY TRAVEL INSURANCE MARKET, BY FILTER TYPE
CHAPTER 5: ITALY TRAVEL INSURANCEMARKET, BY APPLICATION
CHAPTER 6: ITALY TRAVEL INSURANCEMARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: ITALY TRAVEL INSURANCE MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
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