Overseas Student Insurance Market Report 2026

The overseas student insurance market size has grown strongly in recent years. It will grow from $6.79 billion in 2025 to $7.45 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to growth in international student mobility, rising healthcare costs abroad, increased awareness of travel-related risks, expansion of private insurance offerings, early adoption of bundled travel insurance plans.

The overseas student insurance market size is expected to see strong growth in the next few years. It will grow to $10.71 billion in 2030 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to increasing cross-border education enrollment, rising focus on mental health coverage, expansion of telemedicine services, growing use of mobile insurance applications, increasing regulatory requirements for student health insurance. Major trends in the forecast period include increasing adoption of digital insurance platforms, rising use of ai-based policy customization, growing demand for flexible coverage options, expansion of online insurance distribution channels, enhanced focus on real-time claims processing.

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

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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