Setting

Global Travel Insurance Market 2020-2030 by Travel Type, Application, Coverage, End User, Distribution Channel, and Region: Trend Forecast and Growth Opportunity

Published: 30 Aug 2021 | Report Code: 10248096 | Pages: 158

Global Travel Insurance Market will reach $44.6 billion by 2030, growing by 8.1% annually over 2020-2030 driven by the rising disposable income, increasing business travel, 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 81 tables and 84 figures, this 158-page report “Global Travel Insurance Market 2020-2030 by Travel Type, Application, Coverage, End User, Distribution Channel, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global 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 Five Forces

 

The trend and outlook of the global market is forecast in an optimistic, balanced, and conservative view by taking into account COVID-19. The balanced (most likely) projection is used to quantify global travel insurance market in every aspect of the classification from perspectives of Travel Type, Application, Coverage, End User, Distribution Channel, and Region.

 

Based on Travel Type, the global 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 global 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 global 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 global 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 global 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 regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)

• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)

• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

• South America (Brazil, Chile, Argentina, Rest of South America)

• MEA (UAE, Saudi Arabia, South Africa)

 

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2019-2030. The breakdown of all regional markets by country and split of key national markets by Travel Type, Coverage, and End User over the forecast years are 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    8
1.1 Industry Definition and Research Scope    8
1.1.1 Industry Definition    8
1.1.2 Research Scope    9
1.2 Research Methodology    12
1.2.1 Overview of Market Research Methodology    12
1.2.2 Market Assumption    13
1.2.3 Secondary Data    13
1.2.4 Primary Data    13
1.2.5 Data Filtration and Model Design    14
1.2.6 Market Size/Share Estimation    15
1.2.7 Research Limitations    16
1.3 Executive Summary    17
2 Market Overview and Dynamics    20
2.1 Market Size and Forecast    20
2.1.1 Impact of COVID-19 on World Economy    21
2.1.2 Impact of COVID-19 on the Market    23
2.2 Major Growth Drivers    25
2.3 Market Restraints and Challenges    29
2.4 Emerging Opportunities and Market Trends    32
2.5 Porter’s Fiver Forces Analysis    36
3 Segmentation of Global Market by Travel Type    40
3.1 Market Overview by Travel Type    40
3.2 Single-trip Travel Insurance    42
3.3 Annual Multi-trip Travel Insurance    43
3.4 Long-stay Travel Insurance    44
4 Segmentation of Global Market by Application    45
4.1 Market Overview by Application    45
4.2 Domestic Travel    47
4.3 International Travel    48
5 Segmentation of Global Market by Coverage    49
5.1 Market Overview by Coverage    49
5.2 Medical Insurance    51
5.3 Trip Cancellation & Delay Insurance    52
5.4 Property Loss & Damage Insurance    53
5.5 Other Coverages    54
6 Segmentation of Global Market by End User    55
6.1 Market Overview by End User    55
6.2 Family Travelers    57
6.3 Senior Citizens    58
6.4 Business Travelers    59
6.5 Education Travelers    60
6.6 Backpackers    61
6.7 Other End Users    62
7 Segmentation of Global Market by Distribution Channel    63
7.1 Market Overview by Distribution Channel    63
7.2 Insurance Intermediaries    65
7.3 Insurance Companies    66
7.4 Banks    67
7.5 Insurance Brokers    68
7.6 Insurance Aggregators    69
7.7 Other Distribution Channels    70
8 Segmentation of Global Market by Region    71
8.1 Geographic Market Overview 2019-2030    71
8.2 North America Market 2019-2030 by Country    75
8.2.1 Overview of North America Market    75
8.2.2 U.S.    79
8.2.3 Canada    82
8.2.4 Mexico    84
8.3 European Market 2019-2030 by Country    86
8.3.1 Overview of European Market    86
8.3.2 Germany    90
8.3.3 U.K.    92
8.3.4 France    94
8.3.5 Spain    96
8.3.6 Italy    98
8.3.7 Russia    100
8.3.8 Rest of European Market    102
8.4 Asia-Pacific Market 2019-2030 by Country    104
8.4.1 Overview of Asia-Pacific Market    104
8.4.2 Japan    108
8.4.3 China    111
8.4.4 Australia    113
8.4.5 India    115
8.4.6 South Korea    117
8.4.7 Rest of APAC Region    119
8.5 South America Market 2019-2030 by Country    121
8.5.1 Argentina    124
8.5.2 Brazil    126
8.5.3 Chile    128
8.5.4 Rest of South America Market    130
8.6 MEA Market 2019-2030 by Country    131
8.6.1 UAE    134
8.6.2 Saudi Arabia    136
8.6.3 South Africa    138
8.6.4 Other National Markets    140
9 Competitive Landscape    141
9.1 Overview of Key Vendors    141
9.2 New Product Launch, Partnership, Investment, and M&A    144
9.3 Company Profiles    145
Allianz Group    145
American Express Company    147
American International Group Inc.    148
Assicurazioni Generali S.P.A.    149
AXA SA    150
Berkshire Hathaway Specialty Insurance Company    151
Insure & Go Insurance Services Limited    152
Seven Corners Inc.    153
Travel Insured International    154
TravelSafe Insurance    155
USI Insurance Services    156
Zurich Insurance Co. Limited    157
RELATED REPORTS    158

 

 

List Of Tables:
Table 1. Snapshot of Global Travel Insurance Market in Balanced Perspective, 2019-2030    18
Table 2. Growth Rate of World GDP, 2020-2022    22
Table 3. Main Product Trends and Market Opportunities in Global Travel Insurance Market    32
Table 4. Global Travel Insurance Market by Travel Type, 2019-2030, $ mn    40
Table 5. Global Travel Insurance Market by Application, 2019-2030, $ mn    45
Table 6. Global Travel Insurance Market by Coverage, 2019-2030, $ mn    49
Table 7. Global Travel Insurance Market by End User, 2019-2030, $ mn    55
Table 8. Global Travel Insurance Market by Distribution Channel, 2019-2030, $ mn    63
Table 9. Global Travel Insurance Market by Region, 2019-2030, $ mn    72
Table 10. Leading National Travel Insurance Market, 2019 and 2030F, $ mn    74
Table 11. North America Travel Insurance Market by Country, 2019-2030, $ mn    77
Table 12. U.S. Travel Insurance Market by Travel Type, 2019-2030, $ mn    81
Table 13. U.S. Travel Insurance Market by Coverage, 2019-2030, $ mn    81
Table 14. U.S. Travel Insurance Market by End User, 2019-2030, $ mn    81
Table 15. Canada Travel Insurance Market by Travel Type, 2019-2030, $ mn    83
Table 16. Canada Travel Insurance Market by Coverage, 2019-2030, $ mn    83
Table 17. Canada Travel Insurance Market by End User, 2019-2030, $ mn    83
Table 18. Mexico Travel Insurance Market by Travel Type, 2019-2030, $ mn    85
Table 19. Mexico Travel Insurance Market by Coverage, 2019-2030, $ mn    85
Table 20. Mexico Travel Insurance Market by End User, 2019-2030, $ mn    85
Table 21. Europe Travel Insurance Market by Country, 2019-2030, $ mn    89
Table 22. Germany Travel Insurance Market by Travel Type, 2019-2030, $ mn    91
Table 23. Germany Travel Insurance Market by Coverage, 2019-2030, $ mn    91
Table 24. Germany Travel Insurance Market by End User, 2019-2030, $ mn    91
Table 25. U.K. Travel Insurance Market by Travel Type, 2019-2030, $ mn    93
Table 26. U.K. Travel Insurance Market by Coverage, 2019-2030, $ mn    93
Table 27. U.K. Travel Insurance Market by End User, 2019-2030, $ mn    93
Table 28. France Travel Insurance Market by Travel Type, 2019-2030, $ mn    95
Table 29. France Travel Insurance Market by Coverage, 2019-2030, $ mn    95
Table 30. France Travel Insurance Market by End User, 2019-2030, $ mn    95
Table 31. Spain Travel Insurance Market by Travel Type, 2019-2030, $ mn    97
Table 32. Spain Travel Insurance Market by Coverage, 2019-2030, $ mn    97
Table 33. Spain Travel Insurance Market by End User, 2019-2030, $ mn    97
Table 34. Italy Travel Insurance Market by Travel Type, 2019-2030, $ mn    99
Table 35. Italy Travel Insurance Market by Coverage, 2019-2030, $ mn    99
Table 36. Italy Travel Insurance Market by End User, 2019-2030, $ mn    99
Table 37. Russia Travel Insurance Market by Travel Type, 2019-2030, $ mn    101
Table 38. Russia Travel Insurance Market by Coverage, 2019-2030, $ mn    101
Table 39. Russia Travel Insurance Market by End User, 2019-2030, $ mn    101
Table 40. Travel Insurance Market in Rest of Europe by Country, 2019-2030, $ mn    103
Table 41. APAC Travel Insurance Market by Country, 2019-2030, $ mn    106
Table 42. Japan Travel Insurance Market by Travel Type, 2019-2030, $ mn    110
Table 43. Japan Travel Insurance Market by Coverage, 2019-2030, $ mn    110
Table 44. Japan Travel Insurance Market by End User, 2019-2030, $ mn    110
Table 45. China Travel Insurance Market by Travel Type, 2019-2030, $ mn    112
Table 46. China Travel Insurance Market by Coverage, 2019-2030, $ mn    112
Table 47. China Travel Insurance Market by End User, 2019-2030, $ mn    112
Table 48. Australia Travel Insurance Market by Travel Type, 2019-2030, $ mn    114
Table 49. Australia Travel Insurance Market by Coverage, 2019-2030, $ mn    114
Table 50. Australia Travel Insurance Market by End User, 2019-2030, $ mn    114
Table 51. India Travel Insurance Market by Travel Type, 2019-2030, $ mn    116
Table 52. India Travel Insurance Market by Coverage, 2019-2030, $ mn    116
Table 53. India Travel Insurance Market by End User, 2019-2030, $ mn    116
Table 54. South Korea Travel Insurance Market by Travel Type, 2019-2030, $ mn    118
Table 55. South Korea Travel Insurance Market by Coverage, 2019-2030, $ mn    118
Table 56. South Korea Travel Insurance Market by End User, 2019-2030, $ mn    118
Table 57. Travel Insurance Market in Rest of APAC by Country/Region, 2019-2030, $ mn    120
Table 58. South America Travel Insurance Market by Country, 2019-2030, $ mn    123
Table 59. Argentina Travel Insurance Market by Travel Type, 2019-2030, $ mn    125
Table 60. Argentina Travel Insurance Market by Coverage, 2019-2030, $ mn    125
Table 61. Argentina Travel Insurance Market by End User, 2019-2030, $ mn    125
Table 62. Brazil Travel Insurance Market by Travel Type, 2019-2030, $ mn    127
Table 63. Brazil Travel Insurance Market by Coverage, 2019-2030, $ mn    127
Table 64. Brazil Travel Insurance Market by End User, 2019-2030, $ mn    127
Table 65. Chile Travel Insurance Market by Travel Type, 2019-2030, $ mn    129
Table 66. Chile Travel Insurance Market by Coverage, 2019-2030, $ mn    129
Table 67. Chile Travel Insurance Market by End User, 2019-2030, $ mn    129
Table 68. MEA Travel Insurance Market by Country, 2019-2030, $ mn    133
Table 69. UAE Travel Insurance Market by Travel Type, 2019-2030, $ mn    135
Table 70. UAE Travel Insurance Market by Coverage, 2019-2030, $ mn    135
Table 71. UAE Travel Insurance Market by End User, 2019-2030, $ mn    135
Table 72. Saudi Arabia Travel Insurance Market by Travel Type, 2019-2030, $ mn    137
Table 73. Saudi Arabia Travel Insurance Market by Coverage, 2019-2030, $ mn    137
Table 74. Saudi Arabia Travel Insurance Market by End User, 2019-2030, $ mn    137
Table 75. South Africa Travel Insurance Market by Travel Type, 2019-2030, $ mn    139
Table 76. South Africa Travel Insurance Market by Coverage, 2019-2030, $ mn    139
Table 77. South Africa Travel Insurance Market by End User, 2019-2030, $ mn    139
Table 78. Allianz Group: Company Snapshot    145
Table 79. Allianz Group: Business Segmentation    145
Table 80. Allianz Group: Product Portfolio    146
Table 81. Allianz Group: Revenue, 2018-2020, $ mn    146

 

 

List Of Figures:
Figure 1. Research Method Flow Chart    12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation    15
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2019-2030    17
Figure 4. Global Travel Insurance Market, 2019-2030, $ mn    20
Figure 5. Impact of COVID-19 on Business    23
Figure 6. Primary Drivers and Impact Factors of Global Travel Insurance Market    25
Figure 7. GDP per capita in the World, 1960-2018, $ thousand    28
Figure 8. Forecast of World Middle-class Population by Region, 2015-2030, million    28
Figure 9. Primary Restraints and Impact Factors of Global Travel Insurance Market    29
Figure 10. Investment Opportunity Analysis    33
Figure 11. Porter’s Fiver Forces Analysis of Global Travel Insurance Market    36
Figure 12. Breakdown of Global Travel Insurance Market by Travel Type, 2019-2030, % of Revenue    41
Figure 13. Global Addressable Market Cap in 2021-2030 by Travel Type, Value ($ mn) and Share (%)    41
Figure 14. Global Travel Insurance Market: Single-trip Travel Insurance, 2019-2030, $ mn    42
Figure 15. Global Travel Insurance Market: Annual Multi-trip Travel Insurance, 2019-2030, $ mn    43
Figure 16. Global Travel Insurance Market: Long-stay Travel Insurance, 2019-2030, $ mn    44
Figure 17. Breakdown of Global Travel Insurance Market by Application, 2019-2030, % of Sales Revenue    46
Figure 18. Global Addressable Market Cap in 2021-2030 by Application, Value ($ mn) and Share (%)    46
Figure 19. Global Travel Insurance Market: Domestic Travel, 2019-2030, $ mn    47
Figure 20. Global Travel Insurance Market: International Travel, 2019-2030, $ mn    48
Figure 21. Breakdown of Global Travel Insurance Market by Coverage, 2019-2030, % of Sales Revenue    50
Figure 22. Global Addressable Market Cap in 2021-2030 by Coverage, Value ($ mn) and Share (%)    50
Figure 23. Global Travel Insurance Market: Medical Insurance, 2019-2030, $ mn    51
Figure 24. Global Travel Insurance Market: Trip Cancellation & Delay Insurance, 2019-2030, $ mn    52
Figure 25. Global Travel Insurance Market: Property Loss & Damage Insurance, 2019-2030, $ mn    53
Figure 26. Global Travel Insurance Market: Other Coverages, 2019-2030, $ mn    54
Figure 27. Breakdown of Global Travel Insurance Market by End User, 2019-2030, % of Revenue    56
Figure 28. Global Addressable Market Cap in 2021-2030 by End User, Value ($ mn) and Share (%)    56
Figure 29. Global Travel Insurance Market: Family Travelers, 2019-2030, $ mn    57
Figure 30. Global Travel Insurance Market: Senior Citizens, 2019-2030, $ mn    58
Figure 31. Global Travel Insurance Market: Business Travelers, 2019-2030, $ mn    59
Figure 32. Global Travel Insurance Market: Education Travelers, 2019-2030, $ mn    60
Figure 33. Global Travel Insurance Market: Backpackers, 2019-2030, $ mn    61
Figure 34. Global Travel Insurance Market: Other End Users, 2019-2030, $ mn    62
Figure 35. Breakdown of Global Travel Insurance Market by Distribution Channel, 2019-2030, % of Revenue    64
Figure 36. Global Addressable Market Cap in 2021-2030 by Distribution Channel, Value ($ mn) and Share (%)    64
Figure 37. Global Travel Insurance Market: Insurance Intermediaries, 2019-2030, $ mn    65
Figure 38. Global Travel Insurance Market: Insurance Companies, 2019-2030, $ mn    66
Figure 39. Global Travel Insurance Market: Banks, 2019-2030, $ mn    67
Figure 40. Global Travel Insurance Market: Insurance Brokers, 2019-2030, $ mn    68
Figure 41. Global Travel Insurance Market: Insurance Aggregators, 2019-2030, $ mn    69
Figure 42. Global Travel Insurance Market: Other Distribution Channels, 2019-2030, $ mn    70
Figure 43. Global Market Snapshot by Region    71
Figure 44. Geographic Spread of Worldwide Travel Insurance Market, 2019-2030, % of Sales Revenue    72
Figure 45. Global Addressable Market Cap in 2021-2030 by Region, Value ($ mn) and Share (%)    73
Figure 46. North American Travel Insurance Market, 2019-2030, $ mn    76
Figure 47. Breakdown of North America Travel Insurance Market by Country, 2019 and 2030, % of Revenue    77
Figure 48. Contribution to North America 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%)    78
Figure 49. U.S. Travel Insurance Market, 2019-2030, $ mn    80
Figure 50. Canada Travel Insurance Market, 2019-2030, $ mn    82
Figure 51. Travel Insurance Market in Mexico, 2015-2030F, $ mn    84
Figure 52. European Travel Insurance Market, 2019-2030, $ mn    87
Figure 53. Breakdown of European Travel Insurance Market by Country, 2019 and 2030, % of Revenue    88
Figure 54. Contribution to Europe 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%)    89
Figure 55. Travel Insurance Market in Germany, 2019-2030, $ mn    90
Figure 56. Travel Insurance Market in U.K., 2019-2030, $ mn    92
Figure 57. Travel Insurance Market in France, 2019-2030, $ mn    94
Figure 58. Travel Insurance Market in Spain, 2019-2030, $ mn    96
Figure 59. Travel Insurance Market in Italy, 2019-2030, $ mn    98
Figure 60. Travel Insurance Market in Russia, 2019-2030, $ mn    100
Figure 61. Travel Insurance Market in Rest of Europe, 2019-2030, $ mn    102
Figure 62. Asia-Pacific Travel Insurance Market, 2019-2030, $ mn    105
Figure 63. Breakdown of APAC Travel Insurance Market by Country, 2019 and 2030, % of Revenue    105
Figure 64. Contribution to APAC 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%)    107
Figure 65. Travel Insurance Market in Japan, 2019-2030, $ mn    109
Figure 66. Travel Insurance Market in China, 2019-2030, $ mn    111
Figure 67. Travel Insurance Market in Australia, 2019-2030, $ mn    113
Figure 68. Travel Insurance Market in India, 2019-2030, $ mn    115
Figure 69. Travel Insurance Market in South Korea, 2019-2030, $ mn    117
Figure 70. Travel Insurance Market in Rest of APAC, 2019-2030, $ mn    119
Figure 71. South America Travel Insurance Market, 2019-2030, $ mn    122
Figure 72. Breakdown of South America Travel Insurance Market by Country, 2019 and 2030, % of Revenue    122
Figure 73. Contribution to South America 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%)    123
Figure 74. Travel Insurance Market in Argentina, 2019-2030, $ mn    124
Figure 75. Travel Insurance Market in Brazil, 2019-2030, $ mn    126
Figure 76. Travel Insurance Market in Chile, 2019-2030, $ mn    128
Figure 77. Travel Insurance Market in Rest of South America, 2019-2030, $ mn    130
Figure 78. Travel Insurance Market in Middle East and Africa (MEA), 2019-2030, $ mn    132
Figure 79. Breakdown of MEA Travel Insurance Market by Country, 2019 and 2030, % of Revenue    132
Figure 80. Contribution to MEA 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%)    133
Figure 81. Travel Insurance Market in UAE, 2019-2030, $ mn    134
Figure 82. Travel Insurance Market in Saudi Arabia, 2019-2030, $ mn    136
Figure 83. Travel Insurance Market in South Africa, 2019-2030, $ mn    138
Figure 84. Growth Stage of Global Travel Insurance Industry over the Forecast Period    141
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.)