Travel Insurance Market - Global Industry Growth, New Opportuni

  • Travel Insurance Market 2021

    Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or domestically. The insurance may also include some benefits such as accidental health benefit, additional kennel or cattery fees, loss of income and permanent disability, alternative transport arrangement, etc. Factors such as increase in natural disasters, growth in tourism, rise in globalization and trade practices have made this industry attractive. The Travel Insurance Market share is expected to generate $28,265 million by 2022, growing at a CAGR of +9% during 2017-2022.

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    Major Key Players:

    Some Of The Primary Market Participants Are Allianz, Generali Global Assistance, USI Affinity, Seven Corners Inc., Travel Safe Insurance, Trip Mate Inc. (Arthur J. Gallagher & Co.), Travel Insured International, AXA, Tata AIG General Insurance Company Limited, Insure & Go Insurance Services Limited, Travelex Insurance Services (TIS), Tokio Marine HCC Medical Insurance Services Group, First Allied Travel Insurance, Arch Insurance Company, Aviva Life Insurance Company India Ltd., American Express Company, BH Specialty Insurance, TravelInsurance.com (DigiVentures Holdings, LLC), amongst others.

    Key findings of the report:

    The report covers both, qualitative and quantitative research of the market, as well as include comprehensive insights and developments methods adopted by the key players. The report encompasses competitive detailed analysis of the key players which are driving the market. The key business strategies such as mergers and acquisitions, affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the travel insurance market report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.

    Market Segmentation

    Travel Insurance Market – By Insurance Cover

    Medical Treatment

    Loss

    Damage and Theft

    Resuming Your Journey

    Cancellation Insurance

    Lump Sum Payments

    Caretaker Coverage

    Death Itinerary

    Market By Distribution Channel

    Insurance Intermediaries

    Insurance Company

    Bank

    Insurance Broker

    Insurance Aggregator

    Others

     

    Travel Insurance Market – By End-User

    Senior Citizens

    Education Traveler

    Backpackers

    Business Traveler

    Family Traveler

    Fully independent Traveler

    Market By Payment Method

    Monthly Outstanding Balance Method

    Single Payment Method

    Travel Insurance Market – By Trip Type

    Single Trip Travel Insurance

    Annual Multi-trip Travel Insurance

    Long-Stay Travel Insurance

    North America has mentioned the essential proposals for the global Travel Insurance Market 2019, and this proposal is expected to increase over the next several years. The North American market is expected to be the largest market in the entire market. Other areas are also predicted in the same way as seeking the lead and fostering the development of this market. Geologically, the European market is the fastest region in North America. The APAC market is expected to have significant proposals in the general Travel Insurance market within the expected contract period.

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