
Travel Insurance Industry Research Report 2024
Description
Travel Insurance Industry Research Report 2024
Travel insurance is a product focused on protecting policyholders against specified losses, accidents or other adverse events, which may occur before or during travel. Examples include trip cancellation/interruption, overseas medical expenses for injury or illness, theft of valuables, and baggage delay or damage. Many travel insurance policies also include the provision of emergency medical assistance services, such as call center operating 24 hours, seven days a week, and an international network of specialist health care providers.
There are standard general exclusions and invalidations on most types of travel insurance policies (for example, self‑inflicted injury, acts of terrorism, non‑approved pre‑existing medical conditions, “dangerous” or extreme activities, and policyholders being under the influence of alcohol or drugs). Travel insurance is generally available in two forms: (i) as a single-trip insurance policy, which provides cover for a specific trip and is matched to the exact characteristic of the trip (e.g. number of travelling days and destination) and (ii) as an annual insurance policy, which covers multiple trips in a year. Travel insurance can be purchased from travel agents, travel suppliers (airlines, hotels, cruise lines, tour operators) a private insurance firm, insurance brokers, or online. The GWP in this report all refer to the Gross written premium from Travel Insurance. The characteristics of fine travel insurance unit of measurement as follow:
Highlights
The global Travel Insurance market is projected to reach US$ million by 2030 from an estimated US$ million in 2024, at a CAGR of % during 2025 and 2030.
The main global Travel Insurance players include Allianz, Munich Re Group, AIG, etc. The top three Travel Insurance players account for approximately 30% of the total global market. Asia-Pacific is the largest consumer market for Travel Insurance, accounting for about 26%, followed by Europe and North America. In terms of product, Trip Cancellation is the largest segment, with a share about 45%. And in terms of application, the largest application is Family Traveler, followed by Business Traveler.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Travel Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Travel Insurance.
The Travel Insurance market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Travel Insurance market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Travel Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue by companies for the period 2019-2024. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
Allianz
Munich Re Group
AIG
Assicurazioni Generali
Prudential
ACE&Chubb
Manulife
UnitedHealthcare Global
Mapfre
AXA
Tokio Marine Holdings
China Pacific insurance
Hanse Merkur
Ping An Insurance (Group) Company of China
People's insurance company of China
China Life
Sompo Japan Nipponkoa
Product Type Insights
Global markets are presented by Travel Insurance type, along with growth forecasts through 2030. Estimates on revenue are based on the price in the supply chain at which the Travel Insurance are procured by the companies.
This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows revenue data by type, and during the historical period (2019-2024) and forecast period (2025-2030).
Travel Insurance segment by Type
Trip Cancellation
Trip Delay
Medical Expense
Property Damage
Other
Application Insights
This report has provided the market size (revenue data) by application, during the historical period (2019-2024) and forecast period (2025-2030).
This report also outlines the market trends of each segment and consumer behaviors impacting the Travel Insurance market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Travel Insurance market.
Travel Insurance Segment by Application
Family Traveler
Senior Citizens
Business Traveler
Other
Regional Outlook
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue data of each region and country for the period 2019-2030.
The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America, Middle East & Africa. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2023 because of the base year, with estimates for 2024 and forecast revenue for 2030.
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will understand how the Travel Insurance market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.
Reasons to Buy This Report
This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Travel Insurance market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
This report will help stakeholders to understand the global industry status and trends of Travel Insurance and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
This report stays updated with novel technology integration, features, and the latest developments in the market
This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Travel Insurance industry.
This report helps stakeholders to gain insights into which regions to target globally
This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Travel Insurance.
This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Core Chapters
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 6: Detailed analysis of Travel Insurance companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 13: The main points and conclusions of the report.
Table of Contents
101 Pages
- 1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
- 2 Market Overview
- 2.1 Product Definition
- 2.2 Travel Insurance by Type
- 2.2.1 Market Value Comparison by Type (2019 VS 2023 VS 2030)
- 1.2.2 Trip Cancellation
- 1.2.3 Trip Delay
- 1.2.4 Medical Expense
- 1.2.5 Property Damage
- 1.2.6 Other
- 2.3 Travel Insurance by Application
- 2.3.1 Market Value Comparison by Application (2019 VS 2023 VS 2030)
- 2.3.2 Family Traveler
- 2.3.3 Senior Citizens
- 2.3.4 Business Traveler
- 2.3.5 Other
- 2.4 Assumptions and Limitations
- 3 Travel Insurance Breakdown Data by Type
- 3.1 Global Travel Insurance Historic Market Size by Type (2019-2024)
- 3.2 Global Travel Insurance Forecasted Market Size by Type (2025-2030)
- 4 Travel Insurance Breakdown Data by Application
- 4.1 Global Travel Insurance Historic Market Size by Application (2019-2024)
- 4.2 Global Travel Insurance Forecasted Market Size by Application (2019-2024)
- 5 Global Growth Trends
- 5.1 Global Travel Insurance Market Perspective (2019-2030)
- 5.2 Global Travel Insurance Growth Trends by Region
- 5.2.1 Global Travel Insurance Market Size by Region: 2019 VS 2023 VS 2030
- 5.2.2 Travel Insurance Historic Market Size by Region (2019-2024)
- 5.2.3 Travel Insurance Forecasted Market Size by Region (2025-2030)
- 5.3 Travel Insurance Market Dynamics
- 5.3.1 Travel Insurance Industry Trends
- 5.3.2 Travel Insurance Market Drivers
- 5.3.3 Travel Insurance Market Challenges
- 5.3.4 Travel Insurance Market Restraints
- 6 Market Competitive Landscape by Players
- 6.1 Global Top Travel Insurance Players by Revenue
- 6.1.1 Global Top Travel Insurance Players by Revenue (2019-2024)
- 6.1.2 Global Travel Insurance Revenue Market Share by Players (2019-2024)
- 6.2 Global Travel Insurance Industry Players Ranking, 2022 VS 2023 VS 2024
- 6.3 Global Key Players of Travel Insurance Head office and Area Served
- 6.4 Global Travel Insurance Players, Product Type & Application
- 6.5 Global Travel Insurance Players, Date of Enter into This Industry
- 6.6 Global Travel Insurance Market CR5 and HHI
- 6.7 Global Players Mergers & Acquisition
- 7 North America
- 7.1 North America Travel Insurance Market Size (2019-2030)
- 7.2 North America Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
- 7.3 North America Travel Insurance Market Size by Country (2019-2024)
- 7.4 North America Travel Insurance Market Size by Country (2025-2030)
- 7.5 United States
- 7.6 Canada
- 8 Europe
- 8.1 Europe Travel Insurance Market Size (2019-2030)
- 8.2 Europe Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
- 8.3 Europe Travel Insurance Market Size by Country (2019-2024)
- 8.4 Europe Travel Insurance Market Size by Country (2025-2030)
- 7.4 Germany
- 7.5 France
- 7.6 U.K.
- 7.7 Italy
- 7.8 Russia
- 7.9 Nordic Countries
- 9 Asia-Pacific
- 9.1 Asia-Pacific Travel Insurance Market Size (2019-2030)
- 9.2 Asia-Pacific Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
- 9.3 Asia-Pacific Travel Insurance Market Size by Country (2019-2024)
- 9.4 Asia-Pacific Travel Insurance Market Size by Country (2025-2030)
- 8.4 China
- 8.5 Japan
- 8.6 South Korea
- 8.7 Southeast Asia
- 8.8 India
- 8.9 Australia
- 10 Latin America
- 10.1 Latin America Travel Insurance Market Size (2019-2030)
- 10.2 Latin America Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
- 10.3 Latin America Travel Insurance Market Size by Country (2019-2024)
- 10.4 Latin America Travel Insurance Market Size by Country (2025-2030)
- 9.4 Mexico
- 9.5 Brazil
- 11 Middle East & Africa
- 11.1 Middle East & Africa Travel Insurance Market Size (2019-2030)
- 11.2 Middle East & Africa Travel Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
- 11.3 Middle East & Africa Travel Insurance Market Size by Country (2019-2024)
- 11.4 Middle East & Africa Travel Insurance Market Size by Country (2025-2030)
- 10.4 Turkey
- 10.5 Saudi Arabia
- 10.6 UAE
- 12 Players Profiled
- 11.1 Allianz
- 11.1.1 Allianz Company Detail
- 11.1.2 Allianz Business Overview
- 11.1.3 Allianz Travel Insurance Introduction
- 11.1.4 Allianz Revenue in Travel Insurance Business (2017-2022)
- 11.1.5 Allianz Recent Development
- 11.2 Munich Re Group
- 11.2.1 Munich Re Group Company Detail
- 11.2.2 Munich Re Group Business Overview
- 11.2.3 Munich Re Group Travel Insurance Introduction
- 11.2.4 Munich Re Group Revenue in Travel Insurance Business (2017-2022)
- 11.2.5 Munich Re Group Recent Development
- 11.3 AIG
- 11.3.1 AIG Company Detail
- 11.3.2 AIG Business Overview
- 11.3.3 AIG Travel Insurance Introduction
- 11.3.4 AIG Revenue in Travel Insurance Business (2017-2022)
- 11.3.5 AIG Recent Development
- 11.4 Assicurazioni Generali
- 11.4.1 Assicurazioni Generali Company Detail
- 11.4.2 Assicurazioni Generali Business Overview
- 11.4.3 Assicurazioni Generali Travel Insurance Introduction
- 11.4.4 Assicurazioni Generali Revenue in Travel Insurance Business (2017-2022)
- 11.4.5 Assicurazioni Generali Recent Development
- 11.5 Prudential
- 11.5.1 Prudential Company Detail
- 11.5.2 Prudential Business Overview
- 11.5.3 Prudential Travel Insurance Introduction
- 11.5.4 Prudential Revenue in Travel Insurance Business (2017-2022)
- 11.5.5 Prudential Recent Development
- 11.6 ACE&Chubb
- 11.6.1 ACE&Chubb Company Detail
- 11.6.2 ACE&Chubb Business Overview
- 11.6.3 ACE&Chubb Travel Insurance Introduction
- 11.6.4 ACE&Chubb Revenue in Travel Insurance Business (2017-2022)
- 11.6.5 ACE&Chubb Recent Development
- 11.7 Manulife
- 11.7.1 Manulife Company Detail
- 11.7.2 Manulife Business Overview
- 11.7.3 Manulife Travel Insurance Introduction
- 11.7.4 Manulife Revenue in Travel Insurance Business (2017-2022)
- 11.7.5 Manulife Recent Development
- 11.8 UnitedHealthcare Global
- 11.8.1 UnitedHealthcare Global Company Detail
- 11.8.2 UnitedHealthcare Global Business Overview
- 11.8.3 UnitedHealthcare Global Travel Insurance Introduction
- 11.8.4 UnitedHealthcare Global Revenue in Travel Insurance Business (2017-2022)
- 11.8.5 UnitedHealthcare Global Recent Development
- 11.9 Mapfre
- 11.9.1 Mapfre Company Detail
- 11.9.2 Mapfre Business Overview
- 11.9.3 Mapfre Travel Insurance Introduction
- 11.9.4 Mapfre Revenue in Travel Insurance Business (2017-2022)
- 11.9.5 Mapfre Recent Development
- 11.10 AXA
- 11.10.1 AXA Company Detail
- 11.10.2 AXA Business Overview
- 11.10.3 AXA Travel Insurance Introduction
- 11.10.4 AXA Revenue in Travel Insurance Business (2017-2022)
- 11.10.5 AXA Recent Development
- 11.11 Tokio Marine Holdings
- 11.11.1 Tokio Marine Holdings Company Detail
- 11.11.2 Tokio Marine Holdings Business Overview
- 11.11.3 Tokio Marine Holdings Travel Insurance Introduction
- 11.11.4 Tokio Marine Holdings Revenue in Travel Insurance Business (2017-2022)
- 11.11.5 Tokio Marine Holdings Recent Development
- 11.12 China Pacific insurance
- 11.12.1 China Pacific insurance Company Detail
- 11.12.2 China Pacific insurance Business Overview
- 11.12.3 China Pacific insurance Travel Insurance Introduction
- 11.12.4 China Pacific insurance Revenue in Travel Insurance Business (2017-2022)
- 11.12.5 China Pacific insurance Recent Development
- 11.13 Hanse Merkur
- 11.13.1 Hanse Merkur Company Detail
- 11.13.2 Hanse Merkur Business Overview
- 11.13.3 Hanse Merkur Travel Insurance Introduction
- 11.13.4 Hanse Merkur Revenue in Travel Insurance Business (2017-2022)
- 11.13.5 Hanse Merkur Recent Development
- 11.14 Ping An Insurance (Group) Company of China
- 11.14.1 Ping An Insurance (Group) Company of China Company Detail
- 11.14.2 Ping An Insurance (Group) Company of China Business Overview
- 11.14.3 Ping An Insurance (Group) Company of China Travel Insurance Introduction
- 11.14.4 Ping An Insurance (Group) Company of China Revenue in Travel Insurance Business (2017-2022)
- 11.14.5 Ping An Insurance (Group) Company of China Recent Development
- 11.15 People's insurance company of China
- 11.15.1 People's insurance company of China Company Detail
- 11.15.2 People's insurance company of China Business Overview
- 11.15.3 People's insurance company of China Travel Insurance Introduction
- 11.15.4 People's insurance company of China Revenue in Travel Insurance Business (2017-2022)
- 11.15.5 People's insurance company of China Recent Development
- 11.16 China Life
- 11.16.1 China Life Company Detail
- 11.16.2 China Life Business Overview
- 11.16.3 China Life Travel Insurance Introduction
- 11.16.4 China Life Revenue in Travel Insurance Business (2017-2022)
- 11.16.5 China Life Recent Development
- 11.17 Sompo Japan Nipponkoa
- 11.17.1 Sompo Japan Nipponkoa Company Detail
- 11.17.2 Sompo Japan Nipponkoa Business Overview
- 11.17.3 Sompo Japan Nipponkoa Travel Insurance Introduction
- 11.17.4 Sompo Japan Nipponkoa Revenue in Travel Insurance Business (2017-2022)
- 11.17.5 Sompo Japan Nipponkoa Recent Development
- 13 Report Conclusion
- 14 Disclaimer
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