DUBLIN, October 27, 2021– (COMMERCIAL THREAD)–The “Travel Insurance Market by Insurance Coverage, Distribution Channel and End User: Global Opportunity Analysis and Industry Forecast, 2020-2030” report was added to ResearchAndMarkets.com offer.
The global travel insurance market size was valued at USD 15.87 billion in 2020 and is expected to reach USD 58.93 billion by 2030 with a CAGR of 14.39% from 2021-2030.
Travel insurance provides financial security to the insured in the event of lost luggage, trip cancellation, medical and other expenses incurred during a trip. Travel insurance can be used at the time of booking for a single trip or multiple trips. There are also few banks and financial institutions that offer such insurance for free with their credit cards.
Until the COVID-19 pandemic hit, the global tourism industry was booming with increasing globalization, multinational events and concerts. This trend was halted in 2020, but with the roll-out of vaccines globally, the industry is expected to gradually recover from early 2022. The rapid recovery of the travel industry, the increase Business Travel and Online Travel Booking Availability Facilities are factors which are expected to drive the travel insurance market demand throughout the forecast period.
Other factors such as damage due to baggage mishandling, loss or theft, flight cancellations due to multiple reasons including virus outbreak are expected to accelerate market growth in the coming years. However, the lack of public awareness is expected to hamper the growth of the travel insurance market in the near future. On the other hand, the introduction of targeted and personalized insurance policies as well as increasing travel expenses globally are expected to create plenty of opportunities for players in the travel insurance market in the near future.
The global travel insurance market share is analyzed on the basis of insurance coverage, distribution channel, end user and geography. On the basis of insurance coverage, the market is segmented into one-way travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. Based on the distribution channel, the market is divided into insurance intermediaries, insurance company, bank, insurance broker, insurance aggregator and others. On the basis of users, the market is divided into senior citizens, travelers in training, backpackers, business travelers, family travelers, and fully independent travelers. The geographic breakdown and analysis for each of the aforementioned segments includes regions including North America, Europe, Asia Pacific, and Rest of the World
Main topics covered:
2. Travel Insurance Market – Summary
2.1. Market Overview, 2019-2030, USD Million
3. Market overview
3.1. Definition and scope of the market
3.2. Market dynamics
4. COVID-19 analysis
4.1. Covid-19 epidemic
5. Global Travel Insurance Market, By Insurance Coverage
5.2. Single trip insurance policies
5.3. Multi-trip annual insurance policies
5.4. Long stay insurance policies
6. Global Travel Insurance Market, By End User
6.2. The elderly
6.3. Education travelers
6.4. Business travelers
6.6. Family travelers
6.7. Fully independent travelers
7. Global travel insurance market, by distribution channel
7.2. Insurance intermediaries
7.3. Insurance company
7.5. Insurance broker
7.6. Insurance aggregator
8. Global Travel Insurance Market, By Region
8.2. North America
8.4. Asia Pacific
8.5. Rest of the world
9.1. Allianz Group
9.2. Zurich Insurance Group
9.3. American Express Company
9.4. American International Group Inc.
9.6. Berkshire Hathaway Specialty Insurance
9.7. Seven Coins Inc.
9.8. Usi Insurance Services
9.9. International insured travel inc.
9.10. Genarali Group
For more information on this report, visit https://www.researchandmarkets.com/r/dtidei
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211027005464/en/
Laura Wood, Senior Press Director
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