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Travel Insurance Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 - 2025

ID: 231355 May, 2018 Region : Global Pages Reports Monitor

Global travel insurance market, by insurance cover (single trip travel insurance, multi-trip travel insurance, long-stay travel insurance), distribution channel (insurance intermediaries, insurance company, bank, insurance broker, others) and users (senior citizens, education traveller, backpackers, business traveller, family traveller, independent traveller).
Market Scenario:

Travel insurance is an insurance which includes coverage of medical expenses, trip cancellation policy, lost luggage, flight/train accidents and other losses that occur due to unexpected events such as, natural disasters, terrorist attacks during travelling. This insurance is important for domestic or abroad travellers and arranged at the time of trip booking. Moreover, the insurance coverage is available for single, multi or long-stay trips and the medical expense policies are depend on the insurance providers according to the country’s medical costs.


Consistent growth in tourism sector is a prime factor for travel insurance to drives this market across the globe. Further, increasing tourist traffic increased incidences of losing luggage, and important documents as well as medical emergencies and natural disasters are expected to drive the travel insurance market. Moreover, countries like U.S., France, Belgium, Norway, Finland, and Poland required mandatory travel insurance to obtain visa which anticipated to drive the travel insurance market. However, lack of awareness and low penetration of insurance policies might hamper the growth of travel insurance market. On the other hand, government adopting various programs to generate awareness about travel insurance into society creating better opportunity for this market in number of countries.


Segmentation:
The travel insurance market is segmented on the basis of insurance cover, distribution channel, users and region.
On the basis of insurance cover, the market is segmented into single trip travel insurance, multi-trip travel insurance, and long-stay travel insurance.
On the basis of distribution channel, the market is segmented into insurance intermediaries, insurance company, bank, insurance broker, and others.
On the basis of users, the market is segmented into senior citizens, education traveller, backpackers, business traveller, family traveller, and independent traveller.


Regional Analysis:
Geographically, the travel insurance market is segregated in North America, Europe, Asia Pacific, and LAMEA (Latin America, Middle East and Africa). The major growth factors for travel insurance market in Asia-Pacific region are increasing various types of travellers and backpackers from Western countries especially in Southeast Asia. However, compulsion for travel insurance to obtaining visas in North American and European countries is a key factor for this market in these regions. Moreover, Middle East and African government and travel agencies creating awareness about travel insurance benefit to grow this market in LAMEA.


Key Players:
The major key players in travel insurance market are CSA Travel Protection, USI Affinity, Seven Corners Inc., TravelSafe Insurance, MH Ross Travel Insurance Services, Allianz Global Assistance, Travel Insured International, AXA SA, AIG Travel, and InsureandGo. These players are trying to recognise the needs of market in developing countries and expanding their strategies to improve business needs.


Segmentation:
By Insurance Cover
• Single Trip Travel Insurance
• Multi-Trip Travel Insurance
• Long-Stay Travel Insurance


By Distribution Channel
• Insurance Intermediaries
• Insurance Company
• Bank
• Insurance Broker
• Others


By Users
• Senior Citizens (Above age of 60 years)
• Education Traveller
• Backpackers
• Business Traveller
• Family Traveller
• Independent Traveller

Research Scope
The study for Global Travel Insurance Market Survey and Trend Research 2018 will provide market size, estimates and forecast based on the following years: 
 
Historic data: 2015  Base Year Estimate: 2016  Forecast: 2017 to 2025


The report has been categorized in two distinctive sections, where the first category titled as Market Overview provides a holistic view of the market, key trends, drivers, challenges/restraints or opportunities with their current and expected impact on the overall industry sales. 
Our analyst implement, several qualitative tools such as Ansoff’s Matrix, PESTEL analysis, Porter’s five force analysis among other to interpret and represent key industry findings. 
The second section of the study provides market size, estimates and forecast for key market segments and regional market. The final part of the report highlights key manufacturers/vendors operating in the associated market. 

1. Introduction
1.1. Market Definition
1.2. Market Scope


2. Research Methodology
2.1. Primary Research
2.2. Secondary Sources
2.3. Assumptions & Exclusions


3. Market Overview
3.1. Research Report Segmentation & Scope
3.2. Key Market Trend Analysis
3.2.1. Market Drivers
3.2.2. Market Restraint/Challenges
3.2.3. Market Opportunities
3.3. Porter’s Five Forces Analysis
3.4. Potential Venture Avenues
3.5. Market Share Analysis, 2016 


4. Insurance Cover Overview
4.1. Introduction 
4.2. Market Size & Forecast, 2015 to 2025
4.2.1. Single Trip Travel Insurance
4.2.2. Multi-Trip Travel Insurance
4.2.3. Long-Stay Travel Insurance
 (Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


5. Distribution Channel Overview
5.1. Introduction 
5.2. Market Size & Forecast, 2015 to 2025
5.2.1. Insurance Intermediaries
5.2.2. Insurance Company
5.2.3. Bank
5.2.4. Insurance Broker
5.2.5. Others
 (Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


6. Users Overview
6.1. Introduction 
6.2. Market Size & Forecast, 2015 to 2025
6.2.1. Senior Citizens (Above age of 60 years)
6.2.2. Education Traveller
6.2.3. Backpackers
6.2.4. Business Traveller
6.2.5. Family Traveller
6.2.6. Independent Traveller
(Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


7. Regional Overview
7.1. Introduction
7.2. Market Size & Forecast, 2015 to 2025
7.2.1. North America
7.2.1.1. U.S.
7.2.1.2. Canada
7.2.1.3. Mexico 
7.2.2. Europe
7.2.2.1. UK
7.2.2.2. Germany
7.2.2.3. France
7.2.2.4. Italy 
7.2.2.5. Russia
7.2.2.6. Poland
7.2.2.7. Rest of Europe
7.2.3. Asia-Pacific
7.2.3.1. China
7.2.3.2. India
7.2.3.3. Japan
7.2.3.4. Australia
7.2.3.5. South Korea
7.2.3.6. Rest of Asia-Pacific
7.2.4. LAMEA
7.2.4.1. Saudi Arabia
7.2.4.2. UAE
7.2.4.3. South Africa
7.2.4.4. Rest of LAMEA
(Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


8. Manufacturer/ Vendor Profile
8.1. The following attributes will be considered while profiling key manufacturers in this industry: 
8.1.1. Company Overview
8.1.2. Financial Synopsis
8.1.3. Recent Developments
8.1.4. R&D Investments (if any)
8.1.5. Strategy Overview (Analyst Perspective)
8.1.6. Product Portfolio
8.2. Companies Profiled
8.2.1. CSA Travel Protection
8.2.2. USI Affinity
8.2.3. Seven Corners Inc.
8.2.4. TravelSafe Insurance
8.2.5. MH Ross Travel Insurance Services
8.2.6. Allianz Global Assistance
8.2.7. Travel Insured International
8.2.8. AXA SA
8.2.9. AIG Travel
8.2.10. InsureandGo
(Note: The companies mentioned above are tentative in nature, and profiles of other market players not listed here can be included on request.) 

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