Travel Insurance Market Size, Companies Share, Growth, Opportunities and Competitive Outlook Forecast to 2025

According to recent report by IMARC Group, titled “Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global travel insurance market reached a value of US$ 15.60 Billion in 2020. Looking forward, IMARC Group expects the global market to continue its strong growth by 2025.

Travel insurance offers financial protection against losses and expenses incurred while traveling. It includes costs for medical expenses, flight cancellations, and lost luggage and travel documents. Presently, there is an increase in the demand for travel insurance services on account of the burgeoning travel and tourism sector.

Increasing internet penetration, easy availability of online travel bookings and discounted holiday packages are among the significant factors fueling the growth of the travel insurance market. Moreover, the rising number of intermediaries, such as banks, insurance brokers, and insurance aggregators, is providing a variety of options to compare suitable policies and prices, which is bolstering the market growth. Furthermore, leading players are incorporating digital tools, such as data analytics, artificial intelligence (AI), application program interface (API) and global positioning system (GPS), to improve distribution systems. Besides this, the outbreak of coronavirus disease (COVID-19) pandemic has increased individuals who are investing in travel insurance policies to secure their future travels. This is anticipated to drive the travel insurance market further in the coming years.

Get a PDF sample for more detailed market insights: https://www.imarcgroup.com/travel-insurance-market/requestsample

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Travel Insurance Market Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the travel insurance market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

American Express Company
Zurich Insurance Group AG
AXA SA
Allianz SE
Generali Group
Travel Insured International Inc. (Crum & Forster)
Insure & Go Insurance Services (Mapfre S.A.)
Seven Corners Inc.
USI Affinity (USI Insurance Services)
American International Group
Berkshire Hathaway Specialty Insurance Company

The report has segmented the global travel insurance market on the basis of insurance type, coverage, distribution channel, end user and region.

Breakup by Insurance Type:
Single-Trip Travel Insurance
Annual Multi-Trip Insurance
Long-Stay Travel Insurance

Breakup by Coverage:
Medical Expenses
Trip Cancellation
Trip Delay
Property Damage
Others

Breakup by Distribution Channel:
Insurance Intermediaries
Banks
Insurance Companies
Insurance Aggregators
Insurance Brokers
Others

Breakup by End User:
Senior Citizens
Education Travelers
Business Travelers
Family Travelers
Others

Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa

Explore full report with table of contents: https://www.imarcgroup.com/travel-insurance-market

Key highlights of the report:

Market Performance (2014-2019)
Market Outlook (2020-2025)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact US
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

This release was published on openPR.