Travel Insurance Market Report 2026

The travel insurance market size has grown rapidly in recent years. It will grow from $30.77 billion in 2025 to $35.97 billion in 2026 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to growth in international travel volumes, increasing awareness of travel-related risks, expansion of online insurance distribution channels, rising medical travel expenses, adoption of bundled travel protection plans.

The travel insurance market size is expected to see rapid growth in the next few years. It will grow to $66.67 billion in 2030 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to increasing penetration of mobile-based insurance services, rising demand for real-time policy issuance, expansion of global tourism activities, growing use of data-driven underwriting, increasing focus on personalized travel protection. Major trends in the forecast period include rising adoption of digital travel insurance platforms, increasing demand for customized insurance coverage, growing use of ai-based risk assessment, expansion of on-demand and micro-insurance products, enhanced focus on seamless claims processing.

The rise in tourism is expected to drive the growth of the travel insurance market going forward. Tourism involves people traveling to and staying in places outside their usual environment for leisure, business, or other purposes. The increase in tourism is fueled by pent-up travel demand as global mobility improves and travelers resume international trips. Travel insurance supports tourists by providing financial protection against travel-related uncertainties, such as medical emergencies, trip disruptions, or lost baggage, enhancing overall travel security and convenience. For instance, in February 2024, according to the United Nations World Tourism Organization (UNWTO), a Spain-based UN agency, international tourism reached an estimated 1.3 billion arrivals in 2023, marking a 34% increase over 2022. Therefore, the rise in tourism is propelling the travel insurance market.

Travel insurance entities are increasingly directing their efforts toward technology-driven platforms to fortify and elevate their service offerings. These tech-driven platforms not only improve accessibility, personalization, and efficiency for travelers but also empower market players to deliver seamless experiences, personalized notifications, data-driven personalization, and automation in claims processing. A case in point is Battleface Inc., a US-based travel insurance provider, that, in January 2023, unveiled Robin Assist, a Platform as a Service (PaaS) designed to aid insurance carriers, brokers, managing general agents (MGAs), and self-insured enterprise partners in meeting their travel insurance needs. Robin Assist, a global API (application programming interface)-driven insurtech platform, offers comprehensive support for travel insurance, including round-the-clock multilingual customer assistance, efficient claims management, emergency medical evacuation and travel assistance, medical case management, medical care and cost containment networks, as well as the capability to facilitate immediate payments in over 140 currencies.

In July 2024, Allianz SE, a US-based financial services company, acquired Income Insurance Limited for an undisclosed amount. This acquisition is intended to strengthen Allianz SE's presence in the Asia-Pacific region by leveraging Income Insurance Limited's local expertise and market knowledge. As a result, Allianz SE aims to broaden its range of insurance products and services to better address the diverse needs of customers in Singapore and beyond.

Major companies operating in the travel insurance market report include Allianz Group, AXA S.A., Berkshire Hathaway Specialty Insurance Company, Zurich Insurance Group AG, American International Group Inc., American Express Company, Chubb Limited, Aviva Plc, Seven Corners Inc, Travelex Insurance Services Inc., Corporate Risks India Insurance Brokers Pvt Ltd, TATA AIG, New India Assurance, Oriental Insurance Company, ICICI Lombard General Insurance Company, United India Insurance, HDFC ERGO Non-Life Insurance Company, Fanhua Holdings, Insubuy LLC, China Life Insurance Company Limited, SafetyWing, Genki, Insured Nomads, Sompo Japan Nipponkoa Insurance Inc., Mitsui Sumitomo Insurance Co. Ltd., Ping An Insurance Company of China, People's Insurance Company (Group) of China, China Pacific Insurance (Group) Co. Ltd, New China Life Insurance, Marsh & McLennan Companies UK Limited, Aon UK Limited, Arthur J Gallagher & Co, Willis Towers Watson plc, Lloyd's of London Limited, Funk Gruppe GmbH, Ecclesia Holding GmbH, Hannover Re, Crédit Agricole Assurances, Sogaz Insurance Group, Ingosstrakh Insurance Co, Marsh McLennan, UNIQA, Česká Pojišťovna, MetLife Inc., Assicurazioni Generali, Groupama, RSHB Insurance, Soglasie Insurance Company, Sberbank Insurance Company LLC, John Hancock Insurance Agency, Trawick International, USI Affinity Travel Insurance Services, GoReady Insurance, TU Agencia de Seguros Co, 111 Seguros Ltda, Agencia de Seguros, BSB Capital Corretora de Seguros, Indeniza Corretora em Balsas MA, Emirates Insurance Co., Sukoon Insurance, Union Insurance, Doha Insurance Group, Qatar Insurance Co, KIB Takaful Insurance Company, Gulf Insurance Group, Misr Life Insurance, QNB Alahli Life Insurance, Care Line Group, De Wet De Villiers, Travelinsure, Lensure Insurance Brokers CC, Travel Africa Insurance, Oojah Travel Protection, Takaful Insurance of Africa, Bryte Insurance Company Limited.

Asia-Pacific was the largest region in the travel insurance market in 2025. The regions covered in the travel insurance market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the travel insurance market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The travel insurance market includes revenues earned by entities through evacuation insurance, baggage and personal items loss and life insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.