Travel Insurance Market Size 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 Size 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 Size report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
Market Segmentation
Travel Insurance Market Size – 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 Size – 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 Size – 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 Size 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 Size within the expected contract period.
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