+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)
Sale

India Travel Insurance Market (2022-2027) by Type, Distribution, End-User, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

  • PDF Icon

    Report

  • 180 Pages
  • March 2022
  • Region: India
  • Infogence Global Research
  • ID: 5566828
UP TO OFF until Sep 30th 2022
India's Travel Insurance Market is estimated to be USD 892.29 Mn in 2022 and is expected to reach USD 2011.25 Mn by 2027, growing at a CAGR of 17.65%.



Market Dynamics

Market dynamics are forces that impact the prices and behaviors of India's Travel Insurance Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Market Segmentation

  • India's Travel Insurance Market is segmented based on Type, Distribution, and End-User.
  • Type, the market is classified into Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long- Stay Travel Insurance.
  • Distribution, the market is classified into Insurance Intermediaries, Insurance Companies, Banks, and Insurance Brokers and Aggregators.
  • End-User, the market is classified into Educational Travel, Business Travelers, Family Travelers, Senior Citizen, and Others.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Allianz Group, Atlas Travel Insurance Services Ltd, Prudential Financial Inc., Tata AIG, HDFC Ergo, SBI General Insurance, etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for India's Travel Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses India's Travel Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of India's Travel Insurance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Indian Travel Insurance Market

What is the estimated value of the Indian Travel Insurance Market?

The Indian Travel Insurance Market was estimated to be valued at $892.29 Million in 2022.

What is the growth rate of the Indian Travel Insurance Market?

The growth rate of the Indian Travel Insurance Market is 17.6%, with an estimated value of $2011.25 Million by 2027.

What is the forecasted size of the Indian Travel Insurance Market?

The Indian Travel Insurance Market is estimated to be worth $2011.25 Million by 2027.

Who are the key companies in the Indian Travel Insurance Market?

Key companies in the Indian Travel Insurance Market include Allianz Group, American Express Company, American International Group Inc., Assicurazioni Generali S.P.A., Atlas Travel Insurance Services Ltd, Aviva Plc, AXA S.A, Munich Reinsurance Company and USI Insurance Services.

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Increase in Tourisum
4.1.2 High Cost of Medical Treatment
4.1.3 Increase in Customised Insurance Plans
4.1.4 Rising Demand for Reimbursement of Expenditures
4.2 Restraints
4.2.1 Lack of Consumer Experiences in Terms of its Coverages and Premium Rates
4.3 Opportunities
4.3.1 Incorporating Digital Tools by Insurance Market Players
4.3.2 Supportive Initiatives by Government
4.4 Challenges
4.4.1 Cyber Security Concerns
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 India's Travel Insurance Market, By Type
6.1 Introduction
6.2 Single-Trip Travel Insurance
6.3 Annual Multi-Trip Travel Insurance
6.4 Long- Stay Travel Insurance
7 India's Travel Insurance Market, By Distribution
7.1 Introduction
7.2 Insurance Intermediaries
7.3 Insurance Companies
7.4 Banks
7.5 Insurance Brokers and Aggregators
8 India's Travel Insurance Market, By End-User
8.1 Introduction
8.2 Educational Travel
8.3 Business Travelers
8.4 Family Travelers
8.5 Senior Citizen
8.6 Others
9 Competitive Landscape
9.1 Competitive Quadrant
9.2 Market Share Analysis
9.3 Strategic Initiatives
9.3.1 M&A and Investments
9.3.2 Partnerships and Collaborations
9.3.3 Product Developments and Improvements
10 Company Profiles
10.1 Allianz Group
10.2 American Express Company
10.3 American International Group Inc.
10.4 Assicurazioni Generali S.P.A.
10.5 Atlas Travel Insurance Services Ltd
10.6 Aviva Plc
10.7 AXA S.A
10.8 Munich Reinsurance Company
10.9 Prudential Financial Inc.
10.10 USI Insurance Services
10.11 Apollo Munich
10.12 Tata AIG
10.13 ICICI Lombard
10.14 Religare
10.15 HDFC Ergo
10.16 Royal Sundaram
10.17 SBI General Insurance
11 Appendix
11.1 Questionnaire

Companies Mentioned

  • Allianz Group
  • American Express Company
  • American International Group Inc.
  • Assicurazioni Generali S.P.A.
  • Atlas Travel Insurance Services Ltd
  • Aviva Plc
  • AXA S.A
  • Munich Reinsurance Company
  • Prudential Financial Inc.
  • USI Insurance Services
  • Apollo Munich
  • Tata AIG
  • ICICI Lombard
  • Religare
  • HDFC Ergo
  • Royal Sundaram
  • SBI General Insurance