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Italy Travel Insurance Market by Product Type, by Distribution Channel and End User - Opportunity Analysis and Industry Forecasts, 2016-2023

  • ID: 4612783
  • Report
  • Region: Italy
  • 105 pages
  • Allied Analytics LLP
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Travel insurance covers the cost incurred due to any problematic incidents while traveling. It includes trip cancellation losses, loss of baggage, medical treatment of patients, and loss of travel documents, evacuation, or deportation during an emergency, and some other unavoidable conditions. In the coming years, the Italy travel insurance market is projected to grow at a significant rate owing to its low penetration rate and growth in tourism industry. According to World Travel & Tourism Council (WTTC), Italy tourism sector will rise by 2.6% in the year 2017, and is expected to contribute around 5.1% of country’s GDP by 2027.

The growth of the travel insurance market is largely attributed to the growth in trend of availing travel insurance as a prerequisite for obtaining Visa to ensure that travelers are adequately covered in case of medical emergencies due to hospitalization in foreign countries and high costs of medical services during travel time.
However, lack of awareness regarding various insurance schemes and benefits of travel insurance are expected to hamper the growth of the Italy travel insurance market. Moreover, relaxed norms and low fluctuation in rates due to large number of competitors have resulted in decline of gross written premium.

The market is segmented based on type of distribution channel, product types, end user, and geography. Based on product type, it is classified into single trip, annual multi-trip, and long stay.

Based on distribution channel, the market is classified into insurance intermediaries, insurance company, bank, insurance broker, insurance aggregators, and others. Based on end user, it is classified into senior citizens, education travelers, backpackers, business travelers, family travelers, and fully independent traveler.

Some of the significant players profiled in the report are Allianz global assistance SAS, AXA Group, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, Filo Diretto, Generali Group, Gruppo Cattolica Assicurazioni, MAPFRE S.A., Reale Mutua Assicurazioni, and UnipolSai Assicurazioni S.p.A. All these key players are involved in various strategic developments, such as partnerships, collaborations, mergers & acquisition and others to increase their market penetration in the industry.

KEY BENEFITS FOR STAKEHOLDERS

In-depth analysis of the Italy travel insurance industry along with its dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the Italy travel insurance market and provides a clear understanding of the factors that influence the market entry and expansion.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Profile analysis of leading players that operate in the Italy travel insurance market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.

KEY MARKET SEGMENTS

By Product Type

Single trip travel insurance
Annual multi-trip travel insurance
Long stay travel insurance

By Distribution Channel

Insurance intermediaries
Insurance company
Bank
Insurance broker
Insurance aggregator
Other

By End-User

Senior citizen
Education traveler
Backpackers
Business traveler
Family traveler
Fully independent traveler

The key players profiled in the report are as follows:

UnipolSai Assicurazioni S.p.A
Reale Mutua Assicurazioni
Gruppo Cattolica Assicurazioni
DARAG Deutsche Versicherungs- und Rückversicherungs-AG
Generali Group
Allianz Group
AXA Group
Filo Diretto
MAPFRE SA
Note: Product cover images may vary from those shown
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CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. RESEARCH METHODOLOGY
1.3.1. Primary research
1.3.2. Secondary research
1.3.3. Analyst tools and models
1.3.4. Market segmentation

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors
3.2.3.1. Growth in tourism sector
3.2.3.2. Surge in baby boomers travelers
3.2.3.3. Lack of knowledge and low penetration of insurance policies
3.2.3.4. Technological advancement in the travel insurance industry
3.3. PORTERS FIVE FORCES
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry
3.4. MARKET PLAYER POSITIONING
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Growth in tourism sector
3.5.1.2. Stringent travel rules and regulation by government authorities
3.5.1.3. Surge in baby boomers travelers
3.5.2. Restraints
3.5.2.1. Lack of knowledge and low penetration of insurance policies
3.5.3. Opportunities
3.5.3.1. Technological advancement in the travel insurance industry

CHAPTER 4 ITALY TRAVEL INSURANCE MARKET, BY PRODUCT TYPE
4.1. OVERVIEW
4.2. SINGLE TRIP TRAVEL INSURANCE
4.2.1. Key market trends and growth factors
4.2.2. Market size and forecast
4.3. ANNUAL MULTI-TRIP TRAVEL INSURANCE
4.3.1. Key market trends and growth factors
4.3.2. Market size and forecast
4.4. LONG-STAY TRAVEL INSURANCE
4.4.1. Key market trends and growth factors
4.4.2. Market size and forecast

CHAPTER 5 ITALY TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL
5.1. OVERVIEW
5.2. INSURANCE INTERMEDIARIES
5.2.1. Key market trends and growth factors
5.2.2. Market size and forecast
5.3. INSURANCE COMPANY
5.3.1. Key market trends and growth factors
5.3.2. Market size and forecast
5.4. BANK
5.4.1. Key market trends and growth factors
5.4.2. Market size and forecast
5.5. INSURANCE BROKER
5.5.1. Key market trends and growth factors
5.5.2. Market size and forecast
5.6. INSURANCE AGGREGATOR
5.6.1. Key market trends and growth factors
5.6.2. Market size and forecast
5.7. OTHER
5.7.1. Key market trends and growth factors
5.7.2. Market size and forecast

CHAPTER 6 ITALY TRAVEL INSURANCE MARKET, BY END USER
6.1. OVERVIEW
6.2. SENIOR CITIZEN
6.2.1. Key market trends and growth factors
6.2.2. Market size and forecast
6.3. EDUCATION TRAVELER
6.3.1. Key market trends and growth factors
6.3.2. Market size and forecast
6.4. BACKPACKERS
6.4.1. Key market trends and growth factors
6.4.2. Market size and forecast
6.5. BUSINESS TRAVELER
6.5.1. Key market trends and growth factors
6.5.2. Market size and forecast
6.6. FAMILY TRAVELER
6.6.1. Key market trends and growth factors
6.6.2. Market size and forecast
6.7. FULLY INDEPENDENT TRAVELER
6.7.1. Key market trends and growth factors
6.7.2. Market size and forecast

CHAPTER 7 COMPANY PROFILES
7.1. UNIPOLSAI ASSICURAZIONI S.P.A.
7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Business performance
7.1.5. Key strategic moves and developments
7.2. REALE MUTUA ASSICURAZIONI
7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Business performance
7.2.5. Key strategic moves and developments
7.3. GRUPPO CATTOLICA ASSICURAZIONI
7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Business performance
7.3.5. Key strategic moves and developments
7.4. DARAG DEUTSCHE VERSICHERUNGS- UND RCKVERSICHERUNGS-AG
7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Business performance
7.4.5. Key strategic moves and developments
7.5. GENERALI GROUP
7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating segments
7.5.4. Business performance
7.5.5. Key strategic moves & developments
7.6. ALLIANZ GROUP
7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Product portfolio
7.6.4. Business performance
7.6.5. Key strategic moves & developments
7.7. AXA GROUP
7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Business performance
7.7.4. Business performance
7.7.5. Key strategic moves and developments
7.8. FILO DIRETTO (DIRECT WIRE ASSICURAZIONI SPA)
7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Product portfolio
7.8.4. Business performance
7.8.5. Key strategic moves & developments
7.9. MAPFRE S.A.
7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Business performance
7.9.4. Business performance
7.9.5. Key strategic moves and developments
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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