Global Travel Insurance Market Report to 2030 – Rising Tourism Demands Post Covid-19 Pandemic are Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Travel Insurance Market By Coverage Type, Distribution Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.

The global travel insurance market size was valued at $12.38 billion in 2020, and is projected to reach $119.31 billion by 2030, growing at a CAGR of 26.1% from 2021 to 2030.

Travel insurance is of insurance that accounts for any unanticipated or undesired losses that can occur when traveling (either internationally or internationally). Typical travel insurance policies normally are designed to cover any medical emergencies during the period of travel, whereas more comprehensive travel insurance policies may also include trip cancellation, lost luggage, flight delays, public liability, and among other unanticipated charges during the period of travel.

Moreover, travel insurance can provide the traveler with a sense of security and safety while visiting a foreign land. However, with the slowdowns in the travel and hospitality segment caused by the outbreak of the COVID-19 pandemic, the global travel insurance industry also experienced significant shrinkage during the period. Although, with the average travel scene returning back on the levels of pre-pandemic levels, the travel insurance market is also expected to grow in the coming years.

The growth of the global travel insurance market is driven by factors such as rising tourism demands post the pandemic are boosting the growth of the travel insurance market. In addition, government-mandated travel policies are further fueling the growth of the travel insurance market. However, the low penetration of insurance policies limits the growth of this market. new technological developments for the travel insurance industry are expected to provide numerous opportunities for the expansion of the travel insurance market during the forecast period.

The global travel insurance market is segmented into coverage type, distribution channel, end user, and region. Depending on coverage type, the market is bifurcated into single-trip travel insurance and annual multi-trip travel insurance. On the basis of distribution channel, it is segregated into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. As per end user, it is differentiated into senior citizens, education travelers, business travelers, family travelers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global travel insurance market forecast along with the current & future trends to explain the imminent investment pockets

  • Information about key drivers, restraints, & opportunities and their impact analysis on global travel insurance market trends is provided in the report

  • Porter’s five analysis forces illustrates the potency of the buyers and suppliers operating in the industry

  • The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential

Key Market Segments

By Coverage Type

  • Single-Trip Travel Insurance

  • Annual Multi-Trip Travel Insurance

By Distribution Channel

  • Insurance Intermediaries

  • Insurance Companies

  • Banks

  • Insurance Brokers

  • Insurance Agregators

By End User

  • Senior Citizens

  • Education Travelers

  • Business Travelers

  • Family Travelers

  • Others

By Region

  • North America

  • US

  • Canada

  • Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Netherlands

  • Rest of Europe

  • Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • Singapore

  • Rest of Asia-Pacific

  • LAMEA

  • Latin America

  • Middle East

  • Africa

Key Players

  • Allianz

  • American International Group Inc

  • Assicurazioni Generali S.PA

  • AXA

  • Insure and Go Insurance Services Limited

  • Seven Corners Inc

  • Trip Mate Inc

  • Travel Insured International

  • Travel Safe Insurance

  • USI Insurance Services LLC

For more information about this report visit https://www.researchandmarkets.com/r/sqhwpx

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