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Travel Insurance in the US - Industry Market Research Report

  • ID: 2148524
  • Report
  • Region: United States
  • 32 pages
  • IBISWorld
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On the move: Increasing disposable income will boost industry demand

Travel Insurance

The Travel Insurance industry exhibits a low level of market share concentration. The top four industry operators are expected to account for less than one-fifth of total industry revenue. The industry's fragmentation is attributable to its numerous distribution channels and niche, localized operators. Suppliers to the industry include data management firms and institutional investment managers with the total number of industry suppliers ranging in the low thousands. The leading provider of travel insurance is American International Group Inc. (AIG) through its Travel Guard Brand.

Moderate barriers to entry and low capital intensity drive competitive landscape

- The industry landscape is conducive to numerous small-to-midsize operators that depend on well-established distribution networks. The fragmentation and variation among these distribution networks (i.e. travel agencies and online travel websites) largely inhibits the development of major players, or companies that command 5.0% or more of industry market share.

Insurance regulations result in regulatory compliance costs

- Travel insurance is regulated at the state level, and insurers are incentivized to attain accreditation from the National Association of Insurance Commissioners. Travel insurance companies are required to adhere to the regulations of the jurisdiction they sell travel insurance, thus causing moderate-to-high regulatory compliance costs.

This industry underwrites (i.e. assumes, pools and spreads out risk of financial losses over policyholders in exchange for premiums) travel insurance policies. Coverage can include losses from trip cancellation and delay, lost baggage and medical emergencies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES

OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY
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  • American International Group Inc.
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