Travel Insurance Market 2023, Global Size, Share, Trends, Industry Growth and Forecast to 2028

The latest report published by IMARC Group, titled “Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global travel insurance market size reached US$ 15.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.7 Billion by 2028, exhibiting a growth rate (CAGR) of 12.6% during 2023-2028.

Year Considered to Estimate the Market Size:

  • Base Year of the Analysis: 2022
  • Historical Period: 2017-2022
  • Forecast Period: 2023-2028

Travel insurance helps cover the costs and losses associated with traveling domestically or internationally.  The main categories of travel insurance include baggage and personal effects coverage, loss of travel documents, medical expenses, hijacking, trip cancellation, and accidental death or flight accident. The insurance also reimburses a traveler for prepaid, nonrefundable travel expenses and offers emergency services, such as re-booking canceled flights, replacing lost passports, and cash wire help.

Request a Free PDF Sample of the Report: https://www.imarcgroup.com/travel-insurance-market/requestsample

Market Trends:

Increasing business travels and the easy availability of online travel bookings are some of the key factors bolstering the travel insurance market growth. This is further supported by the rapid penetration of the internet and smartphones across the globe. Additionally, governments of various nations have mandated attaching travel insurance documents while applying for a visa, which, in turn, is creating a positive outlook for the market.  In line with this, key service providers are incorporating application program interface (API), data analytics, artificial intelligence (AI), and global positioning system (GPS) to provide personalized user experience, which is accelerating the market growth. Moreover, the increasing medical tourism and surging cases of luggage loss and trip cancellations are boosting the market growth. Besides this, the rising consumer per capita income and growing consumer awareness regarding the importance of travel insurance are providing a considerable thrust to the market growth.


Travel Insurance Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the travel insurance market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Allianz SE
  • American Express Company
  • American International Group
  • AXA SA
  • Berkshire Hathaway Specialty Insurance Company
  • Generali Group
  • Insure & Go Insurance Services (Mapfre S.A.)
  • Seven Corners Inc.
  • Travel Insured International Inc. (Crum & Forster)
  • USI Affinity (USI Insurance Services)
  • Zurich Insurance Group AG

Key Market Segmentation:

The report has segmented the global travel insurance market based on insurance type, coverage, distribution channel, end user and region.

Breakup by Insurance Type:

  • Single-Trip Travel Insurance
  • Annual Multi-Trip Insurance
  • Long-Stay Travel Insurance

Breakup by Coverage:

  • Medical Expenses
  • Trip Cancellation
  • Trip Delay
  • Property Damage
  • Others

Breakup by Distribution Channel:

  • Insurance Intermediaries
  • Banks
  • Insurance Companies
  • Insurance Aggregators
  • Insurance Brokers
  • Others

Breakup by End User:

  • Senior Citizens
  • Education Travelers
  • Business Travelers
  • Family Travelers
  • Others

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2432&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 30 N Gould St Ste R
City: Sheridan
State: WY
Country: United States
Website: https://www.imarcgroup.com/

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