Travel Insurance Market Overview :
Travel insurance can generally be prescribed at the time of the booking of a trip to cover accurately the duration of that trip; policy can cover a boundless number of trips within a set time frame. An insurance is designed to cover the losses, costs and reduce the risk associated with, unpredicted happenings you might suffer while traveling. When something drives wrong, insurance will help you handle with the worry of the situation and permit you to cover the expenses without strain on your savings and finances.
Travel insurance is a specialized form of insurance that is intended to cover trip cancellation in emergencies, damage of baggage, hijack, flight accident (death or injury), loss of passport while travelling worldwide or nationally this are some of the aspects that will boost the growth of global travel insurance. Deficiency of guidance and awareness is a chief issue that restraints travelers from opting for travel insurance Furthermore, factors, such as rise in globalization, growth in tourism, and trade practices are expected to present potential growth opportunities over the forecast timeframe.
Global travel insurance market is segmented on the basis of insurance cover type, distribution channel, user type and geography. The component insurance type segment is further classified into single trip travel insurance, annual multi-trip travel insurance and long stay travel insurance. On the basis of distribution channel, the segmentation consists insurance intermediaries, insurance company, bank, insurance, insurance broker, insurance aggregator, and other. Further user type segment has been classified into senior citizens (age of 60 years and above), education traveler, backpackers, business traveler, family traveler and fully independent traveler.
Based on geography, global electric vehicle charging system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, Russia, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the global travel insurance market American Express Company, Berkshire Hathaway Specialty Insurance, Travel Insured International, Allianz Global Assistance, AXA SA, Tokio Marine HCC Medical Insurance Services Group, Aviva PLC, Travel Safe, CSA Travel Protection, Travel Insured International, AIG Travel,
The key takeaways from the report
- The report will provide detailed analysis of the global travel insurance market with respect to major segments such as insurance cover type, distribution channel type and user type as well.
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of the global travel insurance market has been included in the report
- Profile of the key players in the global travel insurance market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Travel Insurance Market System Segmentation
Insurance Cover Segment
- Single Trip Travel Insurance
- Annual Multi-Trip Travel Insurance
- Long-Stay Travel Insurance
Distribution Channel Segment
- Insurance Intermediaries
- Insurance Company
- Insurance Broker
- Insurance Aggregator
- Senior Citizens (Above age of 60 years)
- Education Traveler
- Business Traveler
- Family Traveler
- Fully independent Traveler
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East