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Travel Insurance Global Market Worth $40.58 Billion at a CAGR of 16.0% By 2027 | Key Players: Allianz SE, Atlas Travel Insurance, Aviva plc, Axa S.A., Chubb Limited
Travel Insurance Market
The Business Research Company's Travel Insurance Global Market Report 2023 identifies the rise in tourism is contributing to the growth of the travel insurance market. Travel insurance helps the tourism sector by providing financial help through certain packages that help travellers in medical emergencies, passport loss, flight cancellation, and misplaced or lost luggage.
The global travel insurance market size will grow from $19.14 billion in 2022 to $22.44 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global travel insurance is expected to grow to $40.58 billion in 2027 at a CAGR of 16.0%.
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Major players in the travel insurance market are Allianz SE, American Express Company, American International Group Inc., Assicurazioni Generali S.P.A, Atlas Travel Insurance, Aviva plc, Axa S.A., Bajaj Finserv Limited, Berkshire Hathaway Specialty Insurance Company, Chubb Limited, Generali Group, Insure & Go Insurance Services Limited, MAPFRE, Prudential Financial Inc., Saga PLC., Seven Corners Inc., Crum & Forster, Travelex Insurance Services Inc., USI Affinity Inc., Zurich Insurance, and Arch Capital Group Ltd.
The rise in tourism is contributing to the growth of the travel insurance market. Travel insurance helps the tourism sector by providing financial help through certain packages that help travellers in medical emergencies, passport loss, flight cancellation, and misplaced or lost luggage.
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https://www.thebusinessresearchcompany.com/report/travel-insurance-global-market-report
The Travel Insurance market is segmented -
1) By Type: Domestic, International
2) By Insurance Cover: Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, Long-Stay Travel Insurance
3) By Coverage: Medical Expenses, Trip Cancellation, Trip Delay, Property Damage, Other Coverages
4) By End User: Senior Citizens, Corporate Travelers, Family Travelers, Education Travelers, Other End-Users
5) By Distribution Channel: Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, Other Distribution Channels
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Travel Insurance market.
The Business Research Company's "Global Travel Insurance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Travel Insurance Market Include:
1. Executive Summary
2. Travel Insurance Market Characteristics
3. Travel Insurance Market Trends And Strategies
4. Travel Insurance Market - Macro Economic Scenario
5. Travel Insurance Market Size And Growth
……
27. Travel Insurance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Travel Insurance Market
29. Travel Insurance Market Future Outlook and Potential Analysis
30. Appendix
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