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

  • ID: 5566838
  • Report
  • March 2022
  • Region: Global
  • 182 Pages
  • Infogence Global Research

FEATURED COMPANIES

  • Allianz Group
  • American Express Company
  • Aviva Plc
  • AXA S.A
  • Bajaj Finserv Limited
  • Chubb Limited
The Global Travel Insurance Market is estimated to be USD 19.75 Bn in 2022 and is expected to reach USD 44.35 Bn by 2027, growing at a CAGR of 17.56%.



Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the Global 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

  • The Global Travel Insurance Market is segmented based on Type, Distribution, End-User, and Geography.
  • 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.
  • Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

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, Aviva Plc, Berkshire Hathaway Specialty Insurance Company, Munich Reinsurance Company, Travelsafe Insurance, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of - Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of - Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA.
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

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 the Global 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 Global 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 the Global 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 Global Travel Insurance Market

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

The Global Travel Insurance Market was estimated to be valued at $19.8 Billion in 2022.

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

The growth rate of the Global Travel Insurance Market is 17.5%, with an estimated value of $44.4 Billion by 2027.

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

The Global Travel Insurance Market is estimated to be worth $44.4 Billion by 2027.

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

Key companies in the Global 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, Bajaj Finserv Limited and Berkshire Hathaway Specialty Insurance Company.

FEATURED COMPANIES

  • Allianz Group
  • American Express Company
  • Aviva Plc
  • AXA S.A
  • Bajaj Finserv Limited
  • Chubb Limited

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 Overseas
4.1.3 Mandate Travel Insurance in Some Countries
4.1.4 Rising Demand for Reimbursement of Expenditures
4.1.5 Increase in Mobile-Based Payment and Internet Banking
4.2 Restraints
4.2.1 Varied Insurance Regulations across the Globe
4.2.2 Low Clarity Of The Travel Insurance Commitments
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 Lack of Awareness Regarding Travel Insurance Policy
4.4.2 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 Global 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 Global 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 Global 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 Americas’ Travel Insurance Market
9.1 Introduction
9.2 Argentina
9.3 Brazil
9.4 Canada
9.5 Chile
9.6 Colombia
9.7 Mexico
9.8 Peru
9.9 United States
9.10 Rest of Americas
10 Europe’s Travel Insurance Market
10.1 Introduction
10.2 Austria
10.3 Belgium
10.4 Denmark
10.5 Finland
10.6 France
10.7 Germany
10.8 Italy
10.9 Netherlands
10.10 Norway
10.11 Poland
10.12 Russia
10.13 Spain
10.14 Sweden
10.15 Switzerland
10.16 United Kingdom
10.17 Rest of Europe
11 Middle East and Africa’s Travel Insurance Market
11.1 Introduction
11.2 Egypt
11.3 Israel
11.4 Qatar
11.5 Saudi Arabia
11.6 South Africa
11.7 United Arab Emirates
11.8 Rest of MEA
12 APAC’s Travel Insurance Market
12.1 Introduction
12.2 Australia
12.3 Bangladesh
12.4 China
12.5 India
12.6 Indonesia
12.7 Japan
12.8 Malaysia
12.9 Philippines
12.10 Singapore
12.11 South Korea
12.12 Sri Lanka
12.13 Thailand
12.14 Taiwan
12.15 Rest of Asia-Pacific
13 Competitive Landscape
13.1 Competitive Quadrant
13.2 Market Share Analysis
13.3 Strategic Initiatives
13.3.1 M&A and Investments
13.3.2 Partnerships and Collaborations
13.3.3 Product Developments and Improvements
14 Company Profiles
14.1 Allianz Group
14.2 American Express Company
14.3 American International Group Inc.
14.4 Assicurazioni Generali S.P.A.
14.5 Atlas Travel Insurance Services Ltd
14.6 Aviva Plc
14.7 AXA S.A
14.8 Bajaj Finserv Limited
14.9 Battleface Insurance Services Ltd
14.10 Berkshire Hathaway Specialty Insurance Company
14.11 China Life Insurance Company Limited.
14.12 China Pacific Life Insurance Co. Ltd
14.13 Chubb Limited
14.14 Mapfre Insurance Company Inc.
14.15 Ms&Ad Insurance Group Holdings, Inc
14.16 Munich Reinsurance Company
14.17 Ping An Insurance Company Of China, Ltd.
14.18 Prudential Financial Inc.
14.19 Saga Plc
14.20 Seven Corners Inc.
14.21 Travelex Insurance Services
14.22 Travelsafe Insurance
14.23 USI Insurance Services
14.24 Zurich Insurance Co. Limited
15 Appendix
15.1 Questionnaire
  • Allianz Group
  • American Express Company
  • American International Group Inc.
  • Assicurazioni Generali S.P.A.
  • Atlas Travel Insurance Services Ltd
  • Aviva Plc
  • AXA S.A
  • Bajaj Finserv Limited
  • Battleface Insurance Services Ltd
  • Berkshire Hathaway Specialty Insurance Company
  • China Life Insurance Company Limited.
  • China Pacific Life Insurance Co. Ltd
  • Chubb Limited
  • Mapfre Insurance Company Inc.
  • Ms&Ad Insurance Group Holdings, Inc
  • Munich Reinsurance Company
  • Ping An Insurance Company Of China, Ltd.
  • Prudential Financial Inc.
  • Saga Plc
  • Seven Corners Inc.
  • Travelex Insurance Services
  • Travelsafe Insurance
  • USI Insurance Services
  • Zurich Insurance Co. Limited