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Travel Insurance Market By Insurance (Annual Multi Trip Insurance Policies, Single Trip Insurance Policies, Long Stay Insurance Policies) By Users (Senior Citizens, Business Travelers, Education Travelers, Backpackers) By Distribution Channel (Insurance Intermediaries, Insurance Company, Bank) Global Size Analysis and Industry Forecast, 2019-2025.

  • Category:Consumer Goods and Services
  • Published on:14 February, 2019
  • Pages:120
  • Formats:    
  • Report Code: HMI - 673861
  • Publisher:Genesis Market Insights


GLOBAL TRAVEL INSURANCE MARKET was valued at USD 24.09 Billion in the year 2018. Global Travel Insurance Market is further estimated to grow at a CAGR of 5.64% from 2019 to reach USD 33.47 Billion by the year 2025.

AIG Travel Guard (U.S), AXA SA (France), Generali Global Assistance (U.S), USI Affinity (U.S), Travel Safe (U.S), Allianz Global Assistance (U.S) and Berkshire Hathaway (U.S.) are some of the key players in the Global Travel Insurance market. Better global reach at an operational level is the main reason the key players are holding substantial market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.

North America region holds the highest market share in 2018 and Europe and Asia Pacific region is considered as the fastest growing market in the forecasted period due to growing travel & tourism market. At a country level, U.S., U.K, Japan & Australia holds the notable market share and is projected to grow strongly in the coming.


Growth in the tourism market

Enhanced travel options and advance technological access


Low penetration of insurance policies


Changing holiday purchasing patterns

The rise of low cost airlines


The rise in travel to non traditional destinations

The popularity of the ?staycation? as a cheaper alternative

The segmentation is done on the basis of Type of insurance, by User, by Distribution Channel, and by Region. On the basis of types of insurance, the global Travel Insurance market is sub segmented Annual multi trip insurance policies, Single trip insurance policies and long stay insurance policies of which the Annual multi trip insurance policies segment is expected to hold the highest market share during the forecast period due to rising popularity and high demand.

The segmentation done on the basis of users includes senior citizens, business travelers, education travelers, backpackers, family travelers, fully independent travelers of which the family travelers segment is expected to hold the highest market share during the forecast period. On the basis of a distribution channel, the market is segmented insurance intermediaries, insurance company, bank, insurance broker, insurance aggregator and others of which insurance aggregator is expected to grow at the highest CAGR during the forecasted period due to increasing internet usage globally.

Key Benefits for Stakeholders

Travel Insurance service providers

Travel agents and holiday package providers

Research and Consulting organization

Insurance Underwriting Agencies

End use industries

Regulatory bodies, policy actors, and consumers.

By Insurance

Annual multi trip insurance policies

Single trip insurance policies

Long stay insurance policies

By Users

Senior citizens

Business Travelers

Education Travelers


Family travelers

Fully independent travelers

By Distribution Channel

Insurance Intermediaries

Insurance Company


Insurance Broker

Insurance Aggregator


By Region

North America


Asia Pacific


Key Market Players

AIG Travel


Allianz Global Assistance

Munich RE


CSA Travel Protection

USI Affinity

Seven Corners Inc.

American Express Company

Berkshire Hathaway Specialty Insurance

Travel safe

(A brief overview of 13 companies is also provided)

Research Methodology:

Genesis Market Insights follows in depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques ?

Raw Market Data is collected and compared with the Existing in house Data on a broad front.
Both Bottom Up and Top Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
To avoid bias, we filter the collected data collected from authenticated sources.
GMI has a well proven Statistical Modeling System for estimates and forecasts.
Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.
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