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