Travel Insurance Market By Insurance Cover (Long-Stay Travel Insurance, Annual Multi-Trip Travel Insurance and Single Trip Travel Insurance), User (Fully Independent Traveler, Family Traveler, Backpackers, Senior Citizens (Above age of 60 years), Business Traveler and Education Traveler) and Distribution Channel (Insurance Aggregator, Insurance Intermediaries, Insurance Broker, Insurance Company, Bank and Other Distribution Channels) - Global Industry Analysis And Forecast To 2025
The travel insurance is the insurance which is planned to cover the medical costs, cancellation of trip, lost baggage, flight mishap and different misfortunes brought about while travelling, This insurance may for the most part be arranged at the season of the booking of the trip to cover precisely the length of that trip, or the "multi-trip" approach may cover the boundless number of outings inside the set time allotment. The few strategies offer higher and lower choices of medicinal cost; the higher are mostly for nations that have the high medical costs, for example, the United States. Therefore, the Travel Insurance Market is anticipated to expand and has tremendous scope during the forecast period. The global Travel Insurance Market anticipated to flourish in the future by growing at a significantly higher CAGR.
Drivers & Restrains
The factors driving the market are; wide range of advantages provided like the loss of baggage, loss of travel documents, cancellation of trip owing to medical emergency, evacuation owing to hijack or medical condition & few others, increasing number of people travelling while the vacations & other reasons and some other factors. The factor limiting the growth of this market is the lack of guidance & awareness to number of travellers.
The North American region is leading the global Travel Insurance Market owing to increasing expenditure by the people in this region on travelling, increasing traffic of tourist, rising incidences related to loss of important documents or luggage, medical emergencies or unfavorable climatic conditions and other factors.
Travel Insurance Market, By Region
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and market share of the overall industry.
CSA Travel Protection
Seven Corners Inc.
Travel Insured International
MH Ross Travel Insurance Services
Allianz Global Assistance
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?