Global travel insurance market will reach $44.6 billion by 2030, growing by 8.1% annually over 2020-2030 driven by the rising disposable income, increasing business travels and availability of online travel booking platforms and mobile devices, as well as the rising property loss and flight cancelations amid COVID-19 pandemic.
Highlighted with 81 tables and 84 figures, this 158-page report “Global Travel Insurance Market 2020-2030 by Travel Type, Application, Coverage, End User, Distribution Channel, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global travel insurance market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate and forecast from 2020 till 2030 with 2019 as the base year. (The year 2020 is not appropriate for research base due to the outbreak of COVID-19.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global travel insurance market in every aspect of the classification from perspectives of Travel Type, Application, Coverage, End User, Distribution Channel, and Region.
Based on Travel Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Single-trip Travel Insurance
• Annual Multi-trip Travel Insurance
• Long-stay Travel Insurance
Based on Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Domestic Travel
• International Travel
Based on Coverage, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Medical Insurance
• Trip Cancellation & Delay Insurance
• Property Loss & Damage Insurance
• Other Coverages
Based on End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Family Travelers
• Senior Citizens
• Business Travelers
• Education Travelers
• Backpackers
• Other End Users
Based on Distribution Channel, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Insurance Intermediaries
• Insurance Companies
• Banks
• Insurance Brokers
• Insurance Aggregators
• Other Distribution Channels
Geographically, the following regions together with the listed national/local markets are fully investigated:
• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2019-2030. The breakdown of all regional markets by country and split of key national markets by Travel Type, Coverage, and End User over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
Allianz Group
American Express Company
American International Group Inc.
Assicurazioni Generali S.P.A.
AXA SA
Berkshire Hathaway Specialty Insurance Company
Insure & Go Insurance Services Limited
Seven Corners Inc.
Travel Insured International
TravelSafe Insurance
USI Insurance Services
Zurich Insurance Co. Limited
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 14
1.2.6 Market Size/Share Estimation 15
1.2.7 Research Limitations 16
1.3 Executive Summary 17
2 Market Overview and Dynamics 20
2.1 Market Size and Forecast 20
2.1.1 Impact of COVID-19 on World Economy 21
2.1.2 Impact of COVID-19 on the Market 23
2.2 Major Growth Drivers 25
2.3 Market Restraints and Challenges 29
2.4 Emerging Opportunities and Market Trends 32
2.5 Porter’s Fiver Forces Analysis 36
3 Segmentation of Global Market by Travel Type 40
3.1 Market Overview by Travel Type 40
3.2 Single-trip Travel Insurance 42
3.3 Annual Multi-trip Travel Insurance 43
3.4 Long-stay Travel Insurance 44
4 Segmentation of Global Market by Application 45
4.1 Market Overview by Application 45
4.2 Domestic Travel 47
4.3 International Travel 48
5 Segmentation of Global Market by Coverage 49
5.1 Market Overview by Coverage 49
5.2 Medical Insurance 51
5.3 Trip Cancellation & Delay Insurance 52
5.4 Property Loss & Damage Insurance 53
5.5 Other Coverages 54
6 Segmentation of Global Market by End User 55
6.1 Market Overview by End User 55
6.2 Family Travelers 57
6.3 Senior Citizens 58
6.4 Business Travelers 59
6.5 Education Travelers 60
6.6 Backpackers 61
6.7 Other End Users 62
7 Segmentation of Global Market by Distribution Channel 63
7.1 Market Overview by Distribution Channel 63
7.2 Insurance Intermediaries 65
7.3 Insurance Companies 66
7.4 Banks 67
7.5 Insurance Brokers 68
7.6 Insurance Aggregators 69
7.7 Other Distribution Channels 70
8 Segmentation of Global Market by Region 71
8.1 Geographic Market Overview 2019-2030 71
8.2 North America Market 2019-2030 by Country 75
8.2.1 Overview of North America Market 75
8.2.2 U.S. 79
8.2.3 Canada 82
8.2.4 Mexico 84
8.3 European Market 2019-2030 by Country 86
8.3.1 Overview of European Market 86
8.3.2 Germany 90
8.3.3 U.K. 92
8.3.4 France 94
8.3.5 Spain 96
8.3.6 Italy 98
8.3.7 Russia 100
8.3.8 Rest of European Market 102
8.4 Asia-Pacific Market 2019-2030 by Country 104
8.4.1 Overview of Asia-Pacific Market 104
8.4.2 Japan 108
8.4.3 China 111
8.4.4 Australia 113
8.4.5 India 115
8.4.6 South Korea 117
8.4.7 Rest of APAC Region 119
8.5 South America Market 2019-2030 by Country 121
8.5.1 Argentina 124
8.5.2 Brazil 126
8.5.3 Chile 128
8.5.4 Rest of South America Market 130
8.6 MEA Market 2019-2030 by Country 131
8.6.1 UAE 134
8.6.2 Saudi Arabia 136
8.6.3 South Africa 138
8.6.4 Other National Markets 140
9 Competitive Landscape 141
9.1 Overview of Key Vendors 141
9.2 New Product Launch, Partnership, Investment, and M&A 144
9.3 Company Profiles 145
Allianz Group 145
American Express Company 147
American International Group Inc. 148
Assicurazioni Generali S.P.A. 149
AXA SA 150
Berkshire Hathaway Specialty Insurance Company 151
Insure & Go Insurance Services Limited 152
Seven Corners Inc. 153
Travel Insured International 154
TravelSafe Insurance 155
USI Insurance Services 156
Zurich Insurance Co. Limited 157
RELATED REPORTS 158
List of Tables:
Table 1. Snapshot of Global Travel Insurance Market in Balanced Perspective, 2019-2030 18
Table 2. Growth Rate of World GDP, 2020-2022 22
Table 3. Main Product Trends and Market Opportunities in Global Travel Insurance Market 32
Table 4. Global Travel Insurance Market by Travel Type, 2019-2030, $ mn 40
Table 5. Global Travel Insurance Market by Application, 2019-2030, $ mn 45
Table 6. Global Travel Insurance Market by Coverage, 2019-2030, $ mn 49
Table 7. Global Travel Insurance Market by End User, 2019-2030, $ mn 55
Table 8. Global Travel Insurance Market by Distribution Channel, 2019-2030, $ mn 63
Table 9. Global Travel Insurance Market by Region, 2019-2030, $ mn 72
Table 10. Leading National Travel Insurance Market, 2019 and 2030F, $ mn 74
Table 11. North America Travel Insurance Market by Country, 2019-2030, $ mn 77
Table 12. U.S. Travel Insurance Market by Travel Type, 2019-2030, $ mn 81
Table 13. U.S. Travel Insurance Market by Coverage, 2019-2030, $ mn 81
Table 14. U.S. Travel Insurance Market by End User, 2019-2030, $ mn 81
Table 15. Canada Travel Insurance Market by Travel Type, 2019-2030, $ mn 83
Table 16. Canada Travel Insurance Market by Coverage, 2019-2030, $ mn 83
Table 17. Canada Travel Insurance Market by End User, 2019-2030, $ mn 83
Table 18. Mexico Travel Insurance Market by Travel Type, 2019-2030, $ mn 85
Table 19. Mexico Travel Insurance Market by Coverage, 2019-2030, $ mn 85
Table 20. Mexico Travel Insurance Market by End User, 2019-2030, $ mn 85
Table 21. Europe Travel Insurance Market by Country, 2019-2030, $ mn 89
Table 22. Germany Travel Insurance Market by Travel Type, 2019-2030, $ mn 91
Table 23. Germany Travel Insurance Market by Coverage, 2019-2030, $ mn 91
Table 24. Germany Travel Insurance Market by End User, 2019-2030, $ mn 91
Table 25. U.K. Travel Insurance Market by Travel Type, 2019-2030, $ mn 93
Table 26. U.K. Travel Insurance Market by Coverage, 2019-2030, $ mn 93
Table 27. U.K. Travel Insurance Market by End User, 2019-2030, $ mn 93
Table 28. France Travel Insurance Market by Travel Type, 2019-2030, $ mn 95
Table 29. France Travel Insurance Market by Coverage, 2019-2030, $ mn 95
Table 30. France Travel Insurance Market by End User, 2019-2030, $ mn 95
Table 31. Spain Travel Insurance Market by Travel Type, 2019-2030, $ mn 97
Table 32. Spain Travel Insurance Market by Coverage, 2019-2030, $ mn 97
Table 33. Spain Travel Insurance Market by End User, 2019-2030, $ mn 97
Table 34. Italy Travel Insurance Market by Travel Type, 2019-2030, $ mn 99
Table 35. Italy Travel Insurance Market by Coverage, 2019-2030, $ mn 99
Table 36. Italy Travel Insurance Market by End User, 2019-2030, $ mn 99
Table 37. Russia Travel Insurance Market by Travel Type, 2019-2030, $ mn 101
Table 38. Russia Travel Insurance Market by Coverage, 2019-2030, $ mn 101
Table 39. Russia Travel Insurance Market by End User, 2019-2030, $ mn 101
Table 40. Travel Insurance Market in Rest of Europe by Country, 2019-2030, $ mn 103
Table 41. APAC Travel Insurance Market by Country, 2019-2030, $ mn 106
Table 42. Japan Travel Insurance Market by Travel Type, 2019-2030, $ mn 110
Table 43. Japan Travel Insurance Market by Coverage, 2019-2030, $ mn 110
Table 44. Japan Travel Insurance Market by End User, 2019-2030, $ mn 110
Table 45. China Travel Insurance Market by Travel Type, 2019-2030, $ mn 112
Table 46. China Travel Insurance Market by Coverage, 2019-2030, $ mn 112
Table 47. China Travel Insurance Market by End User, 2019-2030, $ mn 112
Table 48. Australia Travel Insurance Market by Travel Type, 2019-2030, $ mn 114
Table 49. Australia Travel Insurance Market by Coverage, 2019-2030, $ mn 114
Table 50. Australia Travel Insurance Market by End User, 2019-2030, $ mn 114
Table 51. India Travel Insurance Market by Travel Type, 2019-2030, $ mn 116
Table 52. India Travel Insurance Market by Coverage, 2019-2030, $ mn 116
Table 53. India Travel Insurance Market by End User, 2019-2030, $ mn 116
Table 54. South Korea Travel Insurance Market by Travel Type, 2019-2030, $ mn 118
Table 55. South Korea Travel Insurance Market by Coverage, 2019-2030, $ mn 118
Table 56. South Korea Travel Insurance Market by End User, 2019-2030, $ mn 118
Table 57. Travel Insurance Market in Rest of APAC by Country/Region, 2019-2030, $ mn 120
Table 58. South America Travel Insurance Market by Country, 2019-2030, $ mn 123
Table 59. Argentina Travel Insurance Market by Travel Type, 2019-2030, $ mn 125
Table 60. Argentina Travel Insurance Market by Coverage, 2019-2030, $ mn 125
Table 61. Argentina Travel Insurance Market by End User, 2019-2030, $ mn 125
Table 62. Brazil Travel Insurance Market by Travel Type, 2019-2030, $ mn 127
Table 63. Brazil Travel Insurance Market by Coverage, 2019-2030, $ mn 127
Table 64. Brazil Travel Insurance Market by End User, 2019-2030, $ mn 127
Table 65. Chile Travel Insurance Market by Travel Type, 2019-2030, $ mn 129
Table 66. Chile Travel Insurance Market by Coverage, 2019-2030, $ mn 129
Table 67. Chile Travel Insurance Market by End User, 2019-2030, $ mn 129
Table 68. MEA Travel Insurance Market by Country, 2019-2030, $ mn 133
Table 69. UAE Travel Insurance Market by Travel Type, 2019-2030, $ mn 135
Table 70. UAE Travel Insurance Market by Coverage, 2019-2030, $ mn 135
Table 71. UAE Travel Insurance Market by End User, 2019-2030, $ mn 135
Table 72. Saudi Arabia Travel Insurance Market by Travel Type, 2019-2030, $ mn 137
Table 73. Saudi Arabia Travel Insurance Market by Coverage, 2019-2030, $ mn 137
Table 74. Saudi Arabia Travel Insurance Market by End User, 2019-2030, $ mn 137
Table 75. South Africa Travel Insurance Market by Travel Type, 2019-2030, $ mn 139
Table 76. South Africa Travel Insurance Market by Coverage, 2019-2030, $ mn 139
Table 77. South Africa Travel Insurance Market by End User, 2019-2030, $ mn 139
Table 78. Allianz Group: Company Snapshot 145
Table 79. Allianz Group: Business Segmentation 145
Table 80. Allianz Group: Product Portfolio 146
Table 81. Allianz Group: Revenue, 2018-2020, $ mn 146
