Published: 30 Aug 2021 | Report Code: 10248099 | Pages: 104
Asia Pacific travel insurance market will grow by 9.7% annually with a total addressable market cap of $118.38 billion over 2021-2030 driven by the rising disposable income, increasing business travels and availability of online travel booking platforms and mobile devices, as well as the rising property loss and flight cancelations amid COVID-19 pandemic. Highlighted with 29 tables and 51 figures, this 104-page report “Asia Pacific Travel Insurance Market 2020-2030 by Travel Type, Application, Coverage, End User, Distribution Channel, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific travel insurance market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate and forecast from 2020 till 2030 with 2019 as the base year. (The year 2020 is not appropriate for research base due to the outbreak of COVID-19.) In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify Asia Pacific travel insurance market in every aspect of the classification from perspectives of Travel Type, Application, Coverage, End User, Distribution Channel, and Country. Based on Travel Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section. • Single-trip Travel Insurance • Annual Multi-trip Travel Insurance • Long-stay Travel Insurance Based on Application, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section. • Domestic Travel • International Travel Based on Coverage, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section. • Medical Insurance • Trip Cancellation & Delay Insurance • Property Loss & Damage Insurance • Other Coverages Based on End User, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section. • Family Travelers • Senior Citizens • Business Travelers • Education Travelers • Backpackers • Other End Users Based on Distribution Channel, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section. • Insurance Intermediaries • Insurance Companies • Banks • Insurance Brokers • Insurance Aggregators • Other Distribution Channels Geographically, the following national/local markets are fully investigated: • Japan • China • South Korea • Australia • India • Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines) For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2019-2030. The breakdown of key national markets by Travel Type, Coverage, and End User over the forecast years is also included. The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players. Key Players (this may not be a complete list and extra companies can be added upon request): Allianz Group American Express Company American International Group Inc. Assicurazioni Generali S.P.A. AXA SA Berkshire Hathaway Specialty Insurance Company Insure & Go Insurance Services Limited Seven Corners Inc. Travel Insured International TravelSafe Insurance USI Insurance Services Zurich Insurance Co. Limited (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
Table Of Contents
1 Introduction 7 1.1 Industry Definition and Research Scope 7 1.1.1 Industry Definition 7 1.1.2 Research Scope 8 1.2 Research Methodology 11 1.2.1 Overview of Market Research Methodology 11 1.2.2 Market Assumption 12 1.2.3 Secondary Data 12 1.2.4 Primary Data 12 1.2.5 Data Filtration and Model Design 13 1.2.6 Market Size/Share Estimation 14 1.2.7 Research Limitations 15 1.3 Executive Summary 16 2 Market Overview and Dynamics 19 2.1 Market Size and Forecast 19 2.1.1 Impact of COVID-19 on World Economy 20 2.1.2 Impact of COVID-19 on the Market 22 2.2 Major Growth Drivers 24 2.3 Market Restraints and Challenges 28 2.4 Emerging Opportunities and Market Trends 31 2.5 Porter’s Fiver Forces Analysis 35 3 Segmentation of Asia Pacific Market by Travel Type 39 3.1 Market Overview by Travel Type 39 3.2 Single-trip Travel Insurance 41 3.3 Annual Multi-trip Travel Insurance 42 3.4 Long-stay Travel Insurance 43 4 Segmentation of Asia Pacific Market by Application 44 4.1 Market Overview by Application 44 4.2 Domestic Travel 46 4.3 International Travel 47 5 Segmentation of Asia Pacific Market by Coverage 48 5.1 Market Overview by Coverage 48 5.2 Medical Insurance 50 5.3 Trip Cancellation & Delay Insurance 51 5.4 Property Loss & Damage Insurance 52 5.5 Other Coverages 53 6 Segmentation of Asia Pacific Market by End User 54 6.1 Market Overview by End User 54 6.2 Family Travelers 56 6.3 Senior Citizens 57 6.4 Business Travelers 58 6.5 Education Travelers 59 6.6 Backpackers 60 6.7 Other End Users 61 7 Segmentation of Asia Pacific Market by Distribution Channel 62 7.1 Market Overview by Distribution Channel 62 7.2 Insurance Intermediaries 64 7.3 Insurance Companies 65 7.4 Banks 66 7.5 Insurance Brokers 67 7.6 Insurance Aggregators 68 7.7 Other Distribution Channels 69 8 Asia-Pacific Market 2019-2030 by Country 70 8.1 Overview of Asia-Pacific Market 70 8.2 Japan 73 8.3 China 76 8.4 Australia 79 8.5 India 81 8.6 South Korea 83 8.7 Rest of APAC Region 85 9 Competitive Landscape 87 9.1 Overview of Key Vendors 87 9.2 New Product Launch, Partnership, Investment, and M&A 90 9.3 Company Profiles 91 Allianz Group 91 American Express Company 93 American International Group Inc. 94 Assicurazioni Generali S.P.A. 95 AXA SA 96 Berkshire Hathaway Specialty Insurance Company 97 Insure & Go Insurance Services Limited 98 Seven Corners Inc. 99 Travel Insured International 100 TravelSafe Insurance 101 USI Insurance Services 102 Zurich Insurance Co. Limited 103 RELATED REPORTS 104
List of Tables: Table 1. Snapshot of Asia Pacific Travel Insurance Market in Balanced Perspective, 2019-2030 17 Table 2. Growth Rate of World GDP, 2020-2022 21 Table 3. Main Product Trends and Market Opportunities in Asia Pacific Travel Insurance Market 31 Table 4. Asia Pacific Travel Insurance Market by Travel Type, 2019-2030, $ mn 39 Table 5. Asia Pacific Travel Insurance Market by Application, 2019-2030, $ mn 44 Table 6. Asia Pacific Travel Insurance Market by Coverage, 2019-2030, $ mn 48 Table 7. Asia Pacific Travel Insurance Market by End User, 2019-2030, $ mn 54 Table 8. Asia Pacific Travel Insurance Market by Distribution Channel, 2019-2030, $ mn 62 Table 9. APAC Travel Insurance Market by Country, 2019-2030, $ mn 71 Table 10. Japan Travel Insurance Market by Travel Type, 2019-2030, $ mn 75 Table 11. Japan Travel Insurance Market by Coverage, 2019-2030, $ mn 75 Table 12. Japan Travel Insurance Market by End User, 2019-2030, $ mn 75 Table 13. China Travel Insurance Market by Travel Type, 2019-2030, $ mn 77 Table 14. China Travel Insurance Market by Coverage, 2019-2030, $ mn 77 Table 15. China Travel Insurance Market by End User, 2019-2030, $ mn 77 Table 16. Australia Travel Insurance Market by Travel Type, 2019-2030, $ mn 80 Table 17. Australia Travel Insurance Market by Coverage, 2019-2030, $ mn 80 Table 18. Australia Travel Insurance Market by End User, 2019-2030, $ mn 80 Table 19. India Travel Insurance Market by Travel Type, 2019-2030, $ mn 82 Table 20. India Travel Insurance Market by Coverage, 2019-2030, $ mn 82 Table 21. India Travel Insurance Market by End User, 2019-2030, $ mn 82 Table 22. South Korea Travel Insurance Market by Travel Type, 2019-2030, $ mn 84 Table 23. South Korea Travel Insurance Market by Coverage, 2019-2030, $ mn 84 Table 24. South Korea Travel Insurance Market by End User, 2019-2030, $ mn 84 Table 25. Travel Insurance Market in Rest of APAC by Country/Region, 2019-2030, $ mn 86 Table 26. Allianz Group: Company Snapshot 91 Table 27. Allianz Group: Business Segmentation 91 Table 28. Allianz Group: Product Portfolio 92 Table 29. Allianz Group: Revenue, 2018-2020, $ mn 92
List of Figures: Figure 1. Research Method Flow Chart 11 Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 14 Figure 3. Asia Pacific Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2019-2030 16 Figure 4. Asia Pacific Travel Insurance Market, 2019-2030, $ mn 19 Figure 5. Impact of COVID-19 on Business 22 Figure 6. Primary Drivers and Impact Factors of Asia Pacific Travel Insurance Market 24 Figure 7. GDP per capita in the World, 1960-2018, $ thousand 27 Figure 8. Forecast of World Middle-class Population by Region, 2015-2030, million 27 Figure 9. Primary Restraints and Impact Factors of Asia Pacific Travel Insurance Market 28 Figure 10. Investment Opportunity Analysis 32 Figure 11. Porter’s Fiver Forces Analysis of Asia Pacific Travel Insurance Market 35 Figure 12. Breakdown of Asia Pacific Travel Insurance Market by Travel Type, 2019-2030, % of Revenue 40 Figure 13. Asia Pacific Addressable Market Cap in 2021-2030 by Travel Type, Value ($ mn) and Share (%) 40 Figure 14. Asia Pacific Travel Insurance Market: Single-trip Travel Insurance, 2019-2030, $ mn 41 Figure 15. Asia Pacific Travel Insurance Market: Annual Multi-trip Travel Insurance, 2019-2030, $ mn 42 Figure 16. Asia Pacific Travel Insurance Market: Long-stay Travel Insurance, 2019-2030, $ mn 43 Figure 17. Breakdown of Asia Pacific Travel Insurance Market by Application, 2019-2030, % of Sales Revenue 45 Figure 18. Asia Pacific Addressable Market Cap in 2021-2030 by Application, Value ($ mn) and Share (%) 45 Figure 19. Asia Pacific Travel Insurance Market: Domestic Travel, 2019-2030, $ mn 46 Figure 20. Asia Pacific Travel Insurance Market: International Travel, 2019-2030, $ mn 47 Figure 21. Breakdown of Asia Pacific Travel Insurance Market by Coverage, 2019-2030, % of Sales Revenue 49 Figure 22. Asia Pacific Addressable Market Cap in 2021-2030 by Coverage, Value ($ mn) and Share (%) 49 Figure 23. Asia Pacific Travel Insurance Market: Medical Insurance, 2019-2030, $ mn 50 Figure 24. Asia Pacific Travel Insurance Market: Trip Cancellation & Delay Insurance, 2019-2030, $ mn 51 Figure 25. Asia Pacific Travel Insurance Market: Property Loss & Damage Insurance, 2019-2030, $ mn 52 Figure 26. Asia Pacific Travel Insurance Market: Other Coverages, 2019-2030, $ mn 53 Figure 27. Breakdown of Asia Pacific Travel Insurance Market by End User, 2019-2030, % of Revenue 55 Figure 28. Asia Pacific Addressable Market Cap in 2021-2030 by End User, Value ($ mn) and Share (%) 55 Figure 29. Asia Pacific Travel Insurance Market: Family Travelers, 2019-2030, $ mn 56 Figure 30. Asia Pacific Travel Insurance Market: Senior Citizens, 2019-2030, $ mn 57 Figure 31. Asia Pacific Travel Insurance Market: Business Travelers, 2019-2030, $ mn 58 Figure 32. Asia Pacific Travel Insurance Market: Education Travelers, 2019-2030, $ mn 59 Figure 33. Asia Pacific Travel Insurance Market: Backpackers, 2019-2030, $ mn 60 Figure 34. Asia Pacific Travel Insurance Market: Other End Users, 2019-2030, $ mn 61 Figure 35. Breakdown of Asia Pacific Travel Insurance Market by Distribution Channel, 2019-2030, % of Revenue 63 Figure 36. Asia Pacific Addressable Market Cap in 2021-2030 by Distribution Channel, Value ($ mn) and Share (%) 63 Figure 37. Asia Pacific Travel Insurance Market: Insurance Intermediaries, 2019-2030, $ mn 64 Figure 38. Asia Pacific Travel Insurance Market: Insurance Companies, 2019-2030, $ mn 65 Figure 39. Asia Pacific Travel Insurance Market: Banks, 2019-2030, $ mn 66 Figure 40. Asia Pacific Travel Insurance Market: Insurance Brokers, 2019-2030, $ mn 67 Figure 41. Asia Pacific Travel Insurance Market: Insurance Aggregators, 2019-2030, $ mn 68 Figure 42. Asia Pacific Travel Insurance Market: Other Distribution Channels, 2019-2030, $ mn 69 Figure 43. Breakdown of APAC Travel Insurance Market by Country, 2019 and 2030, % of Revenue 71 Figure 44. Contribution to APAC 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%) 72 Figure 45. Travel Insurance Market in Japan, 2019-2030, $ mn 74 Figure 46. Travel Insurance Market in China, 2019-2030, $ mn 76 Figure 47. Travel Insurance Market in Australia, 2019-2030, $ mn 79 Figure 48. Travel Insurance Market in India, 2019-2030, $ mn 81 Figure 49. Travel Insurance Market in South Korea, 2019-2030, $ mn 83 Figure 50. Travel Insurance Market in Rest of APAC, 2019-2030, $ mn 85 Figure 51. Growth Stage of Asia Pacific Travel Insurance Industry over the Forecast Period 87
Key Players (this may not be a complete list and extra companies can be added upon request): Allianz Group American Express Company American International Group Inc. Assicurazioni Generali S.P.A. AXA SA Berkshire Hathaway Specialty Insurance Company Insure & Go Insurance Services Limited Seven Corners Inc. Travel Insured International TravelSafe Insurance USI Insurance Services Zurich Insurance Co. Limited (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)