Travel Insurance Market Business Strategies and Opportunities with Key Players Analysis 2022 - CSA Travel Protection, USI Affinity, Seven Corners Inc., Travel Safe, MH Ross, Allianz Global Assistance

When planning for any trip, the million-dollar question always remains whether or not to take a travel insurance. Although, one may consider it a mere waste of money, however, opting for it is rather a smart option. As no matter how well-planned a trip is, unforeseen weather changes, ill health, or other catastrophes can sabotage it.

Travel insurance covers expenses incurred and minimizes the risks during travel. It acts a cushion in situations such as trip cancellation due to medical emergency, loss of baggage, evacuation due to medical condition or hijack, and loss of travel documents among others. In addition, travel insurance is mandatory for tourists, who visit countries such as the U.S., Denmark, France, Germany, Greece, Italy, Canada, and Australia for business, education, holidays, or visiting friends and relatives (VFR).

Top Companies Covered in this Report:
CSA Travel Protection, USI Affinity, Seven Corners Inc., Travel Safe, MH Ross, Allianz Global Assistance, Travel Insured International, AXA SA, AIG Travel, InsureandGo.

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Growth in tourism, rise in globalization, and trade practices have made this industry more attractive. Moreover, increase in number of senior citizens going abroad has propelled the growth of the travel insurance industry as they have become more informed about the insurance plans and the related benefits.

The major challenge faced by the players, who operate in the market is shipping of policies on time owing to the rise in the number of insurees. To increase their outreach, the market players venture into tie-ups with travel agents to cut down time and cost incurred during distribution of travel insurance policies. The evolving trend of unconventional expenses being insured has resulted in a large number of consumers to opt for travel insurance, thereby offering business opportunities for insurance companies.

The report analyses the travel insurance market 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, bank, insurance broker, insurance aggregator, and others. Users who opt for travel insurance policies are backpackers, senior citizens, education travelers, business traveler, fully independent travelers, and family travelers. The market has further been analyzed across geographical regions namely North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

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Fundamentals of Table of Content:

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type       
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Travel Insurance Market Size
2.2 Travel Insurance Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Travel Insurance Market Size by Manufacturers
3.2 Travel Insurance Key Players Head office and Area Served
3.3 Key Players Travel Insurance Product/Solution/Service
3.4 Date of Enter into Travel Insurance Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Travel Insurance Sales by Product
4.2 Global Travel Insurance Revenue by Product
4.3 Travel Insurance Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Travel Insurance Breakdown Data by End User

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This release was published on openPR.