Press release
India Travel Insurance Market Sector on Track for USD 456.48 Million Growth by 2033, Driven by 11.3% CAGR
Allied Market Research has published a new report on the India travel insurance market. The report provides a thorough analysis of the current market environment, including recent trends, top market segments, key investment opportunities, value chain analysis, and the competitive landscape. According to the report, the industry is projected to reach $456.48 million by 2033, representing a CAGR of 11.3%. Previously, the market was valued at $153.86 million in 2023.Claim Your Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/A105804
The research report examines the primary determinants driving market expansion, including growth drivers, restraints, and lucrative opportunities for future development. The India travel insurance industry is expanding rapidly due to the increased utilization of travel insurance services among individuals and the growth in strategic developments by both government and private vendors. However, strict regulations imposed by banks and financial institutions for offering insurance services could potentially hinder industry growth. Moreover, advancements in technology that have enhanced travel insurance services present profitable opportunities for the industry's growth in the coming years.
Latest Trends in the India Travel Insurance Landscape
Increased digital adoption
Travel insurance companies in India are using digital platforms more often to provide convenient and user-friendly services. The processes of buying policies online, processing claims, and offering customer support have become more common. For example, HDFC ERGO, a general insurance company, has introduced a mobile app that makes it easy for customers to purchase travel insurance, submit claims, and get assistance while on a trip. The app also offers instant policy issuance and connects users to a network of cashless service providers.
Get Your Personalized Sample Report & TOC Now! @ https://www.alliedmarketresearch.com/request-for-customization/A105804
Integration with travel assistance services
Travel insurance companies are collaborating more frequently with travel assistance services to offer extensive support to travelers. This encompasses 24/7 emergency assistance, medical care recommendations, and assistance with logistics. Reliance General Insurance, for instance, has formed partnerships with several travel assistance facilities to deliver continuous support, such as emergency medical evacuation, travel aid, and concierge services, to their policyholders.
Market Updates
Allied Market Research meticulously evaluates market updates by conducting thorough analysis and exploring industry trends as well as upcoming technological developments. By providing detailed insights, AMR helps businesses and stakeholders anticipate market fluctuations and stay competitive in their strategic initiatives. For instance, in August 2022, ICICI Lombard, a leading private non-life insurance company in India, introduced 14 new or improved insurance products. These offerings include additional coverage options and upgrades for travel, motor, health, and corporate insurance.
Explore Before Buying: Insider's Guide to Purchase@ https://www.alliedmarketresearch.com/purchase-enquiry/A105804
Competitive Landscape
The report further analyzes the competitive landscape of the India travel insurance market, offering important information for businesses and stakeholders on market dynamics, key players in the industry, and business performance. AMR conducts detailed research by studying market trends, factors driving growth, and innovative approaches of top entities to present a comprehensive overview of the market, aiding informed decision-making and strategic planning.
Key companies profiled in the report:
HDFC ERGO General Insurance Company Limited
Go Digit General Insurance Limited
ManipalCigna Health Insurance Company Limited
SBI General Insurance Company Limited
Universal Sompo General Insurance Company Limited
ICICI Lombard General Insurance Company Limited
Care Health Insurance Ltd.
Bajaj Allianz General Insurance Company Ltd.
TATA AIG General Insurance Company Limited
Niva Bupa Health Insurance Company Ltd.
To wrap up, the report by AMR on the India travel insurance industry provides an in-depth analysis of industry trends, the competitive landscape, and market developments, assisting businesses and stakeholders in making informed strategic decisions for sustained success and expansion.
Key Findings of the Study
By insurance cover, the single-trip travel insurance segment accounted for the India travel insurance market share in 2023.
By distribution channel, the insurance intermediaries segment accounted for the India travel insurance market share in 2023.
By end user, the family travellers segment accounted for the India travel insurance market share in 2023.
By mode, the online segment generated the highest revenue in 2023.
Top Trending Reports:
Crop Insurance Market https://www.alliedmarketresearch.com/crop-insurance-market-A06791
Banking as a Service Market https://www.alliedmarketresearch.com/banking-as-a-service-market-A14258
Consumer Credit Market https://www.alliedmarketresearch.com/consumer-credit-market-A68827
Accounting Services Market https://www.alliedmarketresearch.com/accounting-services-market-A12933
Generative AI in Insurance Market https://www.alliedmarketresearch.com/generative-ai-in-insurance-market-A283347
Cybersecurity in Banking Market https://www.alliedmarketresearch.com/cybersecurity-in-banking-market-A12738
David Correa
1209 Orange Street, Corporation Trust Center, Wilmington, New Castle, Delaware 19801 USA.
Int'l: +1-503-894-6022 Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060 Fax: +1-800-792-5285 help@alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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 India Travel Insurance Market Sector on Track for USD 456.48 Million Growth by 2033, Driven by 11.3% CAGR here
News-ID: 3935587 • Views: …
More Releases from Allied Market Research
Low-Cost Airlines Market to Observe Highest Growth of USD 543.1 billion with Gro …
The global low cost airlines market was valued at $298.0 billion in 2023, and is projected to reach $543.1 billion by 2034, growing at a CAGR of 5.7% from 2024 to 2034
Request The Sample PDF of This Report: @ https://www.alliedmarketresearch.com/request-sample/4562
Low cost airlines, also known as budget or no-frills carriers, are airlines that offer low fares by minimizing traditional services and amenities. They typically use a single aircraft…
5G in Aviation Market Overview by Increasing Demands and Sales By 2021-2030
The global 5G in aviation market size was valued at $0.70 billion in 2020, and is projected to reach $4.68 billion by 2030, registering with a CAGR of 22.8% from 2021 to 2030.
The growth of the global 5G in aviation market is driven by growth in air passenger traffic across the globe, rise in inclination toward R&D activities for 5G network and related technology development, and changing aviation industry outlook.
Download…
Yerba Mate Market Current Trends, Future Prospects, and Competitive Landscape By …
The global yerba mate industry was generated $1.8 billion in 2022 and is anticipated to generate $2.9 billion by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.
Yerba mate has strong cultural ties, especially in South America. As cultural diversity gains attention globally, there is an increasing interest in trying beverages with cultural significance. Yerba mate's unique cultural appeal contributes to its popularity among consumers seeking authentic and exotic…
Baby Care Products Market Trend to Eyewitness Huge Growth by 2031 | Baby Brezza, …
According to a new report published by Allied Market Research, titled, "Baby Care Products Market," The baby care products market size was valued at $38.0 billion in 2021, and is estimated to reach $58.8 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
➡️Download Research Report Sample & TOC : https://www.alliedmarketresearch.com/request-sample/17278
With the goal of promoting newborns' general health and wellbeing, the baby care products provide total skin…
More Releases for Insurance
Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying…
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
