DUBLIN, Sept. 29, 2021 /PRNewswire/ — The “Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global travel insurance market reached a value of US$ 21.5 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 12.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} during 2021-2026. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Travel insurance provides financial protection for expenses or losses incurred due to unexpected events while domestic or overseas travel. It generally covers the costs of lost or stolen belongings, emergency medical care, accidental death, and trip cancellation and interruption. It takes into effect from the day of travel until the insured reaches back home. Nowadays, several companies are providing travel insurance with 24/7 emergency services, such as replacing lost passports, cash wire assistance and re-booking canceled flights. They are also offering customization options depending on the geographical location and as per the requirements of the insured individuals.
The substantial growth in the travel and tourism industry in recent years, on account of inflating disposable incomes, rising business travels and the easy availability of online travel bookings and discounted package holidays represents one of the major factors bolstering the global travel insurance market growth. Moreover, governments of numerous countries have made it mandatory to attach travel insurance documents while applying for a visa, which is also contributing to the market growth. Apart from this, leading players are incorporating digital tools, such as application program interface (API), artificial intelligence (AI), data analytics and global positioning system (GPS), for improving distribution systems and providing personalized user experience. They are now also offering coverage for the coronavirus disease (COVID-19) and extending the expiration period without adding extra charges in their policies. However, due to lockdowns and travel restrictions imposed by governments of several countries to fight the pandemic, the market growth is being impacted negatively. It is expected to revive once normalcy is regained.
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being 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) and Zurich Insurance Group AG.
Key Questions Answered in This Report
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How has the global travel insurance market performed so far and how will it perform in the coming years?
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What has been the impact of COVID-19 on the global travel insurance market?
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What are the key regional markets?
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What is the breakup of the market based on the insurance type?
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What is the breakup of the market based on the coverage?
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What is the breakup of the market based on the distribution channel?
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What is the breakup of the market based on the end user?
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What are the various stages in the value chain of the industry?
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What are the key driving factors and challenges in the industry?
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What is the structure of the global travel insurance market and who are the key players?
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What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Travel Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Insurance Type
6.1 Single-Trip Travel Insurance
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Annual Multi-Trip Insurance
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Long-Stay Travel Insurance
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Coverage
7.1 Medical Expenses
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Trip Cancellation
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Trip Delay
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Property Damage
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Insurance Intermediaries
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Banks
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Insurance Companies
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Insurance Aggregators
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Insurance Brokers
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by End-user
9.1 Senior Citizens
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Education Travelers
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Business Travelers
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Family Travelers
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Allianz SE
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 American Express Company
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 American International Group
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 AXA SA
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 Berkshire Hathaway Specialty Insurance Company
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 Generali Group
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Insure & Go Insurance Services (Mapfre S.A.)
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.8 Seven Corners Inc.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Travel Insured International Inc. (Crum & Forster)
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 USI Affinity (USI Insurance Services)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Zurich Insurance Group AG
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
For more information about this report visit https://www.researchandmarkets.com/r/aspczj
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