Travel Insurance Market

Travel insurance is a product focused on protecting policyholders against specified losses, accidents or other adverse events, which may occur before or during travel. Examples include trip cancellation/interruption, overseas medical expenses for injury or illness, theft of valuables, and baggage delay or damage. Many travel insurance policies also include the provision of emergency medical assistance services, such as call center operating 24 hours, seven days a week, and an international network of specialist health care providers.
There are standard general exclusions and invalidations on most types of travel insurance policies (for example, self?in?icted injury, acts of terrorism, non?approved pre?existing medical conditions, ?dangerous? or extreme activities, and policyholders being under the in?uence of alcohol or drugs). Travel insurance is generally available in two forms: (i) as a single-trip insurance policy, which provides cover for a specific trip and is matched to the exact characteristic of the trip (e.g. number of travelling days and destination) and (ii) as an annual insurance policy, which covers multiple trips in a year. Travel insurance can be purchased from travel agents, travel suppliers (airlines, hotels, cruise lines, tour operators) a private insurance firm, insurance brokers, or online. The GWP in Travel Insurance Market all refer to the Gross written premium from Travel Insurance. The characteristics of fine travel insurance unit of measurement as follow:
Travel Insurance Market contains market size and forecasts of Travel Insurance in Global, including the following market information:
Global Travel Insurance Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Travel Insurance market was valued at 21430 million in 2021 and is projected to reach US$ 32700 million by 2028, at a CAGR of 6.2% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Trip Cancellation Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Travel Insurance include Allianz, Munich Re Group, AIG, Assicurazioni Generali, Prudential, ACE&Chubb, Manulife, UnitedHealthcare Global and Mapfre, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
We surveyed the Travel Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Travel Insurance Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Travel Insurance Market Segment Percentages, by Type, 2021 (%)
Trip Cancellation
Trip Delay
Medical Expense
Property Damage
Other
Global Travel Insurance Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Travel Insurance Market Segment Percentages, by Application, 2021 (%)
Family Traveler
Senior Citizens
Business Traveler
Other
Global Travel Insurance Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Travel Insurance Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Travel Insurance revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Travel Insurance revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Allianz
Munich Re Group
AIG
Assicurazioni Generali
Prudential
ACE&Chubb
Manulife
UnitedHealthcare Global
Mapfre
AXA
Tokio Marine Holdings
China Pacific insurance
Hanse Merkur
Ping An Insurance (Group) Company of China
People's insurance company of China
China Life
Sompo Japan Nipponkoa