Overseas Student Insurance Market Report 2025

The overseas student insurance market size has grown rapidly in recent years. It will grow from $6.17 billion in 2024 to $6.79 billion in 2025 at a compound annual growth rate (CAGR) of 10%. The growth during the historic period can be linked to the expansion of international education programs, rising student exchange initiatives, increased visa-related insurance compliance, a surge in cross-border academic partnerships, and greater global mobility among young people.

The overseas student insurance market size is expected to see strong growth in the next few years. It will grow to $9.8 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period is expected to be driven by rising cross-border education trends, increased adoption of digital insurance solutions, growing demand for flexible coverage options, expanded insurer presence in emerging markets, and evolving regulatory frameworks focused on student safety. Key trends include advancements in AI-powered claims processing, the rise of mobile-first insurance platforms, innovations in customizable coverage plans, the use of blockchain technology for policy management, and the development of integrated health and travel insurance packages.

The overseas student insurance market is poised for growth due to the rising number of international student enrollments and the increasing demand for insurance coverage abroad. International student enrollment refers to the growing population of students pursuing education outside their home countries. This growth is largely driven by the global demand for quality education, encouraging students to study in countries with strong academic infrastructures. Overseas student insurance facilitates this trend by providing coverage for health, travel, and unforeseen expenses, while also fulfilling visa and university requirements to simplify the admission process. For example, according to ICEF, a Germany-based international education organization, international student enrollments increased significantly in 2023, with Australia experiencing a 22% year-over-year rise and New Zealand seeing a strong rebound of 67%, hosting nearly 70,000 students. Consequently, the surge in international student enrollments is fueling the growth of the overseas student insurance market.

Leading companies in the overseas student insurance market are developing innovative solutions such as international student health insurance to address the changing needs of globally mobile learners. This type of insurance offers tailored health coverage for students studying abroad, ensuring protection from medical expenses and compliance with visa and university health requirements. For instance, in June 2024, Trawick International, a U.S.-based insurer, launched Collegiate Care plans - a new portfolio designed as alternatives to traditional university health insurance for international students entering the U.S. on F, M, Q, or J-1 visas, or F-1 with Optional Practical Training. These plans offer competitive pricing, customizable coverage, $0 copays at student health centers, mental health benefits, preventive care, 24/7 multilingual emergency assistance, access to a global pharmacy network, and telemedicine services.

In July 2024, NSM Insurance Group, a U.S.-based insurance provider, acquired ISO Student Health Insurance for an undisclosed sum. This acquisition aims to broaden NSM’s student health insurance portfolio and strengthen its position in specialty insurance solutions. ISO Student Health Insurance is a U.S.-based agency specializing in international student health insurance plans.

Major players in the overseas student insurance market are United Health, The Cigna Group, Tokio Marine HCC, Zurich Insurance Group, The Chubb Corporation, Generali Global Assistance, Hanse Merkur, GeoBlue, Aetna International, International Medical Group (IMG), Bupa Global, Allianz Care, Trawick International, International Student Insurance (ISI), Insubuy, World Nomads, Gallagher Student Health & Special Risk, VisitorsCoverage, Cultural Insurance Services International (CISI), Student Medicover, CareMed International Travel Insurance.

North America was the largest region in the overseas student insurance market in 2024. The regions covered in overseas student insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the overseas student insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

Overseas student insurance is a specialized insurance plan designed to protect students studying abroad from health and travel-related risks. It ensures international students have coverage for unexpected medical expenses and emergencies, guaranteeing continuous access to healthcare services during their studies.

The primary types of overseas student insurance include comprehensive insurance, limited coverage insurance, travel insurance, health insurance, and accident insurance. Comprehensive insurance provides international students with all-encompassing health coverage abroad, fulfilling visa and university requirements for full medical protection. This insurance covers various aspects such as emergency medical care, trip cancellations, personal liability, baggage loss, and repatriation. It is offered through multiple distribution channels, including online providers, insurance brokers, direct sales, aggregators, banks, and financial institutions, serving key user groups such as undergraduate, postgraduate, and PhD students.

The overseas student insurance market research report is one of a series of new reports that provides overseas student insurance market statistics, including the overseas student insurance industry global market size, regional shares, competitors with the overseas student insurance market share, detailed overseas student insurance market segments, market trends, and opportunities, and any further data you may need to thrive in the overseas student insurance industry. This overseas student insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The overseas student insurance market includes revenues earned by entities through tuition fee protection insurance, emergency medical evacuation insurance, personal liability insurance, mental health coverage and sponsor protection 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.

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