Travel Insurance Market Trend, Sales Revenue, Size by Regional Forecast to 2027

The report covers the forecast and analysis of the Travel Insurance market on a global and regional level. The study provides historical data from 2013 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the Travel Insurance market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Travel Insurance market on a global level.

In order to give the users of this report a comprehensive view of the Travel Insurance market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

The study provides a decisive view of the Travel Insurance market by segmenting the market based on the on trip type, insurance cover, distribution channel, payment method, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The rise in the tourist activities & thriving tourism sector will further enlarge the scope of the market over the forecast period. Nonetheless, unavoidable situations like the outbreak of war and pre-existing health issues can pose a threat to the market growth during the period from 2019 to 2027. However, emerging economies are trying to make the purchase of travel insurance mandatory and this, in turn, will offer lucrative opportunities for the market over the forecast period.

Based on the trip type, the industry is classified into Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance. On the basis of insurance cover, the market for travel insurance is classified into Medical Treatment, Loss, Damage, & Theft, Resuming Your Journey, Cancellation Insurance, Lump Sum Payments, Caretaker Coverage, Death, and Itinerary. In terms of distribution channel, the industry is segmented into Insurance Intermediaries, Insurance Company, Insurance Broker, Bank, and Insurance Aggregator.

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Based on the payment method, the industry is divided into the Monthly Outstanding Balance Method and Single Payment Method. On the basis of end-user, the market is sectored into Senior Citizens, Backpackers, Education Traveler, Family Traveler, Business Traveler, and Fully Independent Traveler.

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