Press release
Travel Insurance Market Report, Global Size, Share, Growth and Industry Trends 2022-2027
The global travel insurance market size reached US$ 13.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2027, exhibiting a CAGR of 14.4% during 2022-2027.
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Industry Overview and Application:
Travel insurance is a financial aid provided in situations such as accidental death, loss of baggage and travel documents, cancellation of trip due to medical emergency, and evacuation due to hijacking or medical conditions. The insurance provides security regarding expenses or losses incurred during domestic or international travels. Travel insurance companies also offer customization options as per the client's requirements, which takes into effect from the day of travel until the end of the trip.
Market Trends and Drivers:
The increasing business travel and the availability of online travel booking options represent some of the key factors driving the travel insurance market growth. This is further supported by the surging expenditure power and burgeoning tourism activities, which have significantly increased the incidences of trip cancellations, loss of luggage, and medical emergencies. Moreover, governments of various nations have mandated attaching travel insurance documents while applying for a visa, which is creating a positive outlook for the market.
Travel Insurance Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
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:
• Allianz SE
• American Express Company
• American International Group
• AXA SA
• Berkshire Hathaway Specialty Insurance Company
• Generali Group
• Insure & Go Insurance Services (Mapfre S.A.)
• Seven Corners Inc.
• Travel Insured International Inc. (Crum & Forster)
• USI Affinity (USI Insurance Services)
• Zurich Insurance Group AG
Key Market Segmentation:
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
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2432&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• 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.
About Us
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.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
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Sheridan, WY 82801, USA
Email: sales@imarcgroup.com
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