• Phone: +1-631-791-1145
  • Email: sales@imarcgroup.com

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global travel insurance market grew at a CAGR of around 6% during 2014-2019. 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. Looking forward, IMARC Group expects the global travel insurance market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global travel insurance market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, insurance type, coverage, distribution channel and end user.

Breakup by Insurance Type:

  • Single-Trip Travel Insurance
  • Annual Multi-Trip Insurance
  • Long-Stay Travel Insurance
     

Breakup by Coverage:

  • Medical Expenses
  • Trip Cancellation
  • Trip Delay
  • Property Damage
  • Others
     

Breakup by Distribution Channel:

  • Insurance Intermediaries
  • Banks
  • Insurance Companies
  • Insurance Aggregators
  • Insurance Brokers
  • Others
     

Breakup by End User:

  • Senior Citizens
  • Education Travelers
  • Business Travelers
  • Family Travelers
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

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:

  • How has the global travel insurance market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global travel insurance market?
  • What are the key regional markets?
  • What is the breakup of the market based on the insurance type?
  • What is the breakup of the market based on the coverage?
  • What is the breakup of the market based on the distribution channel?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global travel insurance market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting 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
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
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

List of Figures

Figure 1: Global: Travel Insurance Market: Major Drivers and Challenges
Figure 2: Global: Travel Insurance Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Travel Insurance Market: Breakup by Insurance Type (in %), 2019
Figure 4: Global: Travel Insurance Market: Breakup by Coverage (in %), 2019
Figure 5: Global: Travel Insurance Market: Breakup by Distribution Channel (in %), 2019
Figure 6: Global: Travel Insurance Market: Breakup by End User (in %), 2019
Figure 7: Global: Travel Insurance Market: Breakup by Region (in %), 2019
Figure 8: Global: Travel Insurance Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 9: Global: Travel Insurance (Single-Trip Travel Insurance) Market: Sales Value (in Million US$), 2014 & 2019
Figure 10: Global: Travel Insurance (Single-Trip Travel Insurance) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 11: Global: Travel Insurance (Annual Multi-Trip Insurance) Market: Sales Value (in Million US$), 2014 & 2019
Figure 12: Global: Travel Insurance (Annual Multi-Trip Insurance) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 13: Global: Travel Insurance (Long-Stay Travel Insurance) Market: Sales Value (in Million US$), 2014 & 2019
Figure 14: Global: Travel Insurance (Long-Stay Travel Insurance) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 15: Global: Travel Insurance (Medical Expenses) Market: Sales Value (in Million US$), 2014 & 2019
Figure 16: Global: Travel Insurance (Medical Expenses) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 17: Global: Travel Insurance (Trip Cancellation) Market: Sales Value (in Million US$), 2014 & 2019
Figure 18: Global: Travel Insurance (Trip Cancellation) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 19: Global: Travel Insurance (Trip Delay) Market: Sales Value (in Million US$), 2014 & 2019
Figure 20: Global: Travel Insurance (Trip Delay) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 21: Global: Travel Insurance (Property Damage) Market: Sales Value (in Million US$), 2014 & 2019
Figure 22: Global: Travel Insurance (Property Damage) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 23: Global: Travel Insurance (Other Coverage Types) Market: Sales Value (in Million US$), 2014 & 2019
Figure 24: Global: Travel Insurance (Other Coverage Types) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 25: Global: Travel Insurance (Insurance Intermediaries) Market: Sales Value (in Million US$), 2014 & 2019
Figure 26: Global: Travel Insurance (Insurance Intermediaries) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 27: Global: Travel Insurance (Banks) Market: Sales Value (in Million US$), 2014 & 2019
Figure 28: Global: Travel Insurance (Banks) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 29: Global: Travel Insurance (Insurance Companies) Market: Sales Value (in Million US$), 2014 & 2019
Figure 30: Global: Travel Insurance (Insurance Companies) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 31: Global: Travel Insurance (Insurance Aggregators) Market: Sales Value (in Million US$), 2014 & 2019
Figure 32: Global: Travel Insurance (Insurance Aggregators) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 33: Global: Travel Insurance (Insurance Brokers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 34: Global: Travel Insurance (Insurance Brokers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 35: Global: Travel Insurance (Other Distribution Channels) Market: Sales Value (in Million US$), 2014 & 2019
Figure 36: Global: Travel Insurance (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 37: Global: Travel Insurance (Senior Citizens) Market: Sales Value (in Million US$), 2014 & 2019
Figure 38: Global: Travel Insurance (Senior Citizens) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 39: Global: Travel Insurance (Education Travelers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 40: Global: Travel Insurance (Education Travelers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 41: Global: Travel Insurance (Business Travelers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 42: Global: Travel Insurance (Business Travelers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 43: Global: Travel Insurance (Family Travelers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 44: Global: Travel Insurance (Family Travelers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 45: Global: Travel Insurance (Other End Users) Market: Sales Value (in Million US$), 2014 & 2019
Figure 46: Global: Travel Insurance (Other End Users) Market Forecast: Sales Value (in Million US$), 2020-2025    
Figure 47: North America: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 48: North America: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 49: United States: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 50: United States: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 51: Canada: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 52: Canada: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 53: Asia Pacific: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 54: Asia Pacific: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 55: China: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 56: China: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 57: Japan: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 58: Japan: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 59: India: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 60: India: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 61: South Korea: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 62: South Korea: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 63: Australia: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 64: Australia: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 65: Indonesia: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 66: Indonesia: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 67: Others: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 68: Others: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 69: Europe: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 70: Europe: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 71: Germany: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 72: Germany: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 73: France: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 74: France: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 75: United Kingdom: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 76: United Kingdom: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 77: Italy: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 78: Italy: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 79: Spain: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 80: Spain: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 81: Russia: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 82: Russia: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 83: Others: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 84: Others: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 85: Latin America: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 86: Latin America: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 87: Brazil: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 88: Brazil: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 89: Mexico: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 90: Mexico: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 91: Others: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 92: Others: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 93: Middle East and Africa: Travel Insurance Market: Sales Value (in Million US$), 2014 & 2019
Figure 94: Middle East and Africa: Travel Insurance Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 95: Global: Travel Insurance Industry: SWOT Analysis
Figure 96: Global: Travel Insurance Industry: Value Chain Analysis
Figure 97: Global: Travel Insurance Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Travel Insurance Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Travel Insurance Market Forecast: Breakup by Insurance Type (in Million US$), 2020-2025 
Table 3: Global: Travel Insurance Market Forecast: Breakup by Coverage (in Million US$), 2020-2025
Table 4: Global: Travel Insurance Market Forecast: Breakup by Distribution Channel (in Million US$), 2020-2025
Table 5: Global: Travel Insurance Market Forecast: Breakup by End User (in Million US$), 2020-2025
Table 6: Global: Travel Insurance Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 7: Global: Travel Insurance Market Structure
Table 8: Global: Travel Insurance Market: Key Players

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