Press release
Europe Travel Insurance Market size is projected to reach $10.39 billion by 2027, registering a CAGR of 14.4% from 2020 to 2027
According to a recent report published by Report Ocean, titled, “Europe Travel Insurance Market By Insurance Cover, Distribution Channel, and End User: Regional Opportunity Analysis and Industry Forecast, 2020–2027”, the Europe travel insurance market was valued at $6.25 billion in 2019, and is projected to reach $10.39 billion by 2027, registering a CAGR of 14.4% from 2020 to 2027.GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1280
Travel insurance provides coverage for associated risks, such as injury or death, loss of luggage, delays, and others, while traveling. The premiums vary according to the plans and coverages such as trip cancellation, loss of luggage & travel documents, medical expenses and emergency medical evacuations, and others. Further, significant increase in tourism, innovative technologies, development in travel rules & regulations, and others are some of the lucrative factors that boost the Europe travel insurance market growth.
Rise in baby boomer travelers along with their family or relatives creates a need for secure travel and thus driving the growth of Europe travel insurance market in the region. In addition, mandatory rules & regulations imposed by the government has urged consumers to avail travel insurance as a prerequisite for obtaining VISA, this as a result is propelling the Europe travel insurance market growth.
With an increase in tourism, several incidences such as trip cancellations, loss of luggage & important documents, medical emergencies, and others take place. To mitigate these risks, consumers opt for travel insurance, which is a significant driving factor for the Europe travel insurance market. However, low penetration level, fewer written policies of travel insurance, and less awareness about the benefit related to travel insurance are some of the factors that limit the growth of the Europe travel insurance market.
On the contrary, technological developments such as geo-location, application program interface (API), artificial intelligence (AI), data analytics, and global positioning system (GPS), among others, are providing lucrative opportunities for insurers in the region. The insurers are expected to enhance existing distribution platforms of travel insurance to accelerate productivity and provide seamless user experiences with the help of digital technologies. Thus, these factors are expected to provide lucrative opportunities during the forecast period.
On the basis of insurance cover, the single trip travel insurance segment dominated the Europe travel insurance industry in 2019 and is projected to maintain its dominance during the forecast period. Single trip travel insurance provides customized offerings & covers a combination of eventualities, including trip cancellation, injury & illness, public liability, emergency repatriation, loss of baggage, and others. In addition, the growth of this insurance cover is expected to gain momentum due to its best suited policies for family travelers preferring vacation once or twice a year, and thus is expected to grow at a significant CAGR during the forecast period.
The insurance intermediaries sector dominated the Europe travel insurance industry in 2019 and is projected to maintain its dominance during the forecast period, owing to intermediaries directly deal with a range of hotel chains and flight operators for providing better customer services in the market. Moreover, majority of travel bookings are made via core travel agent and tour operator involved in this intermediary. As a result, travel intermediaries providing travel insurance & assistance services; thereby, representing a significant Europe travel insurance market share in the segment during the forecast period.
Furthermore, the insurance aggregators segment is expected to grow at a significant CAGR during the forecast period, owing to aggregators in the distribution channel offering an online comparison-shopping sites, allowing consumers to easily compare product in terms of coverages, carriers, features, amount of premiums, and others. In addition, it provides sufficient information about the products by bringing together plans from several travel insurance companies in the region. For instance, according to Internet world stat, nearly 89.4% of the European population are accessing the internet via their mobile phones, desktop computers, and laptops. This massive usage of internet users are largely preferring insurance aggregators for availing travel insurance products & services.
In order to sustain in the health crisis, travel insurers in the region are tackling this pandemic situation by implementing several strategies depending on country guidelines. Changing & developing their existing policies, avoiding sale of new policy, customizing coverages, and other such factors are managed by the travel insurance providers in Europe. These travel insurers are enhancing their product offerings and implementing technologies to provide travel insurance coverage to the policyholders during the pandemic situation.
Key Findings of the Study
By insurance cover, the single trip travel insurance segment led the Europe travel insurance market size in terms of revenue in 2019.
By end user, the business travelers segment is expected to attain significant growth during the forecasted period.
By country, the UK generated the highest revenue in 2019.
The key players profiled in the Europe travel insurance market analysis are Allianz, American International Group, Inc., Assicurazioni Generali S.P.A., Aviva, AXA, EUROPEAN Travel Insurance Group, Insure & Go Insurance Services Limited, Mutuaide, The April Group, and Zurich. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their position in the industry.
READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1280
Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Europe Travel Insurance Market size is projected to reach $10.39 billion by 2027, registering a CAGR of 14.4% from 2020 to 2027 here
News-ID: 2248512 • Views: …
More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…

Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…

Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…

Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for Europe
2019 Strategy Consulting Market Analysis | McKinsey, The Boston Consulting Group …
Strategy Consulting Market reports also offer important insights which help the industry experts, product managers, CEOs, and business executives to draft their policies on various parameters including expansion, acquisition, and new product launch as well as analyzing and understanding the market trends
Need for strategic planning in highly competitive environment and to develop business capabilities to meet & exceed the emerging requirements are the major drivers which help in surging…
Strategy Consulting Market 2025 | Analysis By Top Key Players: Booz & Co. , Rola …
Global Strategy Consulting Market 2019-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The key players covered in this study
McKinsey , The Boston Consulting Group , Bain & Company , Booz & Co. , Roland Berger Europe…
Digital Strategy Consulting Market is Thriving Worldwide with Deloitte, McKinsey …
A Digital Strategy is a form of strategic management and a business answer or response to a digital question, often best addressed as part of an overall business strategy. A digital strategy is often characterized by the application of new technologies to existing business activity and focus on the enablement of new digital capabilities to their business.
A new report as a Digital Strategy Consulting market that includes a comprehensive analysis…
Strategy Consulting Market 2019: By McKinsey, The Boston Consulting Group, Bain …
This report studies the global Strategy Consulting market, analyzes and researches the Strategy Consulting development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
• McKinsey
• The Boston Consulting Group
• Bain & Company
• Booz & Co.
• Roland Berger Europe
• Oliver Wyman Europe
• A.T. Kearney Europe
• Deloitte
• Accenture Europe
Get Sample Report@ https://www.reporthive.com/enquiry.php?id=1247388&req_type=smpl&utm_source=AB
Market segment by Type, the product can be split into
• Operations Consultants
• Business Strategy Consultants
• Investment Consultants
• Sales and…
Strategy Consulting Market Analysis 2018: McKinsey, The Boston Consulting Group, …
Orbis Research Present’s “Global Strategy Consulting Market” magnify the decision making potentiality and helps to create an effective counter strategies to gain competitive advantage.
The global Strategy Consulting status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Strategy Consulting development in United States, Europe and China.
In 2017, the global Strategy Consulting market size was million US$ and it is expected to reach million…
Influenza Vaccination Market Global Forecast 2018-25 Estimated with Top Key Play …
UpMarketResearch published an exclusive report on “Influenza Vaccination market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 115 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Influenza Vaccination market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This…