Travel Insurance Market, Global Outlook and Forecast 2023-2029

Report ID: MMG37897 | Category: Service & Software | Pages: 101 | Format: PDF | Published Date: February 21,2023

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Report Summary

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‑inﬂicted injury, acts of terrorism, non‑approved pre‑existing medical conditions, “dangerous” or extreme activities, and policyholders being under the inﬂuence 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 this report all refer to the Gross written premium from Travel Insurance. The characteristics of fine travel insurance unit of measurement as follow:
This report aims to provide a comprehensive presentation of the global market for Travel Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Travel Insurance. This report contains market size and forecasts of Travel Insurance in global, including the following market information:
Global Travel Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Travel Insurance market was valued at US$ 21430 million in 2022 and is projected to reach US$ 32700 million by 2029, at a CAGR of 6.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The main global Travel Insurance players include Allianz, Munich Re Group, AIG, etc. The top three Travel Insurance players account for approximately 30% of the total global market. Asia-Pacific is the largest consumer market for Travel Insurance, accounting for about 26%, followed by Europe and North America. In terms of product, Trip Cancellation is the largest segment, with a share about 45%. And in terms of application, the largest application is Family Traveler, followed by Business Traveler.
MARKET MONITOR GLOBAL, INC (MMG) has 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, 2018-2023, 2024-2029 ($ millions)
Global Travel Insurance Market Segment Percentages, by Type, 2022 (%)
    Trip Cancellation
    Trip Delay
    Medical Expense
    Property Damage
    Other
Global Travel Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Travel Insurance Market Segment Percentages, by Application, 2022 (%)
    Family Traveler
    Senior Citizens
    Business Traveler
    Other
Global Travel Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Travel Insurance Market Segment Percentages, By Region and Country, 2022 (%)
    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, 2018-2023 (estimated), ($ millions)
Key companies Travel Insurance revenues share in global market, 2022 (%)
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
Outline of Major Chapters:
Chapter 1: Introduces the definition of Travel Insurance, market overview.
Chapter 2: Global Travel Insurance market size in revenue.
Chapter 3: Detailed analysis of Travel Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Travel Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.

1 Introduction to Research & Analysis Reports
    1.1 Travel Insurance Market Definition
    1.2 Market Segments
        1.2.1 Market by Type
        1.2.2 Market by Application
    1.3 Global Travel Insurance Market Overview
    1.4 Features & Benefits of This Report
    1.5 Methodology & Sources of Information
        1.5.1 Research Methodology
        1.5.2 Research Process
        1.5.3 Base Year
        1.5.4 Report Assumptions & Caveats
2 Global Travel Insurance Overall Market Size
    2.1 Global Travel Insurance Market Size: 2022 VS 2029
    2.2 Global Travel Insurance Market Size, Prospects & Forecasts: 2018-2029
    2.3 Key Market Trends, Opportunity, Drivers and Restraints
        2.3.1 Market Opportunities & Trends
        2.3.2 Market Drivers
        2.3.3 Market Restraints
3 Company Landscape
    3.1 Top Travel Insurance Players in Global Market
    3.2 Top Global Travel Insurance Companies Ranked by Revenue
    3.3 Global Travel Insurance Revenue by Companies
    3.4 Top 3 and Top 5 Travel Insurance Companies in Global Market, by Revenue in 2022
    3.5 Global Companies Travel Insurance Product Type
    3.6 Tier 1, Tier 2 and Tier 3 Travel Insurance Players in Global Market
        3.6.1 List of Global Tier 1 Travel Insurance Companies
        3.6.2 List of Global Tier 2 and Tier 3 Travel Insurance Companies
4 Market Sights by Product
    4.1 Overview
        4.1.1 By Type - Global Travel Insurance Market Size Markets, 2022 & 2029
        4.1.2 Trip Cancellation
        4.1.3 Trip Delay
        4.1.4 Medical Expense
        4.1.5 Property Damage
        4.1.6 Other
    4.2 By Type - Global Travel Insurance Revenue & Forecasts
        4.2.1 By Type - Global Travel Insurance Revenue, 2018-2023
        4.2.2 By Type - Global Travel Insurance Revenue, 2024-2029
        4.2.3 By Type - Global Travel Insurance Revenue Market Share, 2018-2029
5 Sights by Application
    5.1 Overview
        5.1.1 By Application - Global Travel Insurance Market Size, 2022 & 2029
        5.1.2 Family Traveler
        5.1.3 Senior Citizens
        5.1.4 Business Traveler
        5.1.5 Other
    5.2 By Application - Global Travel Insurance Revenue & Forecasts
        5.2.1 By Application - Global Travel Insurance Revenue, 2018-2023
        5.2.2 By Application - Global Travel Insurance Revenue, 2024-2029
        5.2.3 By Application - Global Travel Insurance Revenue Market Share, 2018-2029
6 Sights by Region
    6.1 By Region - Global Travel Insurance Market Size, 2022 & 2029
    6.2 By Region - Global Travel Insurance Revenue & Forecasts
        6.2.1 By Region - Global Travel Insurance Revenue, 2018-2023
        6.2.2 By Region - Global Travel Insurance Revenue, 2024-2029
        6.2.3 By Region - Global Travel Insurance Revenue Market Share, 2018-2029
    6.3 North America
        6.3.1 By Country - North America Travel Insurance Revenue, 2018-2029
        6.3.2 US Travel Insurance Market Size, 2018-2029
        6.3.3 Canada Travel Insurance Market Size, 2018-2029
        6.3.4 Mexico Travel Insurance Market Size, 2018-2029
    6.4 Europe
        6.4.1 By Country - Europe Travel Insurance Revenue, 2018-2029
        6.4.2 Germany Travel Insurance Market Size, 2018-2029
        6.4.3 France Travel Insurance Market Size, 2018-2029
        6.4.4 U.K. Travel Insurance Market Size, 2018-2029
        6.4.5 Italy Travel Insurance Market Size, 2018-2029
        6.4.6 Russia Travel Insurance Market Size, 2018-2029
        6.4.7 Nordic Countries Travel Insurance Market Size, 2018-2029
        6.4.8 Benelux Travel Insurance Market Size, 2018-2029
    6.5 Asia
        6.5.1 By Region - Asia Travel Insurance Revenue, 2018-2029
        6.5.2 China Travel Insurance Market Size, 2018-2029
        6.5.3 Japan Travel Insurance Market Size, 2018-2029
        6.5.4 South Korea Travel Insurance Market Size, 2018-2029
        6.5.5 Southeast Asia Travel Insurance Market Size, 2018-2029
        6.5.6 India Travel Insurance Market Size, 2018-2029
    6.6 South America
        6.6.1 By Country - South America Travel Insurance Revenue, 2018-2029
        6.6.2 Brazil Travel Insurance Market Size, 2018-2029
        6.6.3 Argentina Travel Insurance Market Size, 2018-2029
    6.7 Middle East & Africa
        6.7.1 By Country - Middle East & Africa Travel Insurance Revenue, 2018-2029
        6.7.2 Turkey Travel Insurance Market Size, 2018-2029
        6.7.3 Israel Travel Insurance Market Size, 2018-2029
        6.7.4 Saudi Arabia Travel Insurance Market Size, 2018-2029
        6.7.5 UAE Travel Insurance Market Size, 2018-2029
7 Travel Insurance Companies Profiles
    7.1 Allianz
        7.1.1 Allianz Company Summary
        7.1.2 Allianz Business Overview
        7.1.3 Allianz Travel Insurance Major Product Offerings
        7.1.4 Allianz Travel Insurance Revenue in Global Market (2018-2023)
        7.1.5 Allianz Key News & Latest Developments
    7.2 Munich Re Group
        7.2.1 Munich Re Group Company Summary
        7.2.2 Munich Re Group Business Overview
        7.2.3 Munich Re Group Travel Insurance Major Product Offerings
        7.2.4 Munich Re Group Travel Insurance Revenue in Global Market (2018-2023)
        7.2.5 Munich Re Group Key News & Latest Developments
    7.3 AIG
        7.3.1 AIG Company Summary
        7.3.2 AIG Business Overview
        7.3.3 AIG Travel Insurance Major Product Offerings
        7.3.4 AIG Travel Insurance Revenue in Global Market (2018-2023)
        7.3.5 AIG Key News & Latest Developments
    7.4 Assicurazioni Generali
        7.4.1 Assicurazioni Generali Company Summary
        7.4.2 Assicurazioni Generali Business Overview
        7.4.3 Assicurazioni Generali Travel Insurance Major Product Offerings
        7.4.4 Assicurazioni Generali Travel Insurance Revenue in Global Market (2018-2023)
        7.4.5 Assicurazioni Generali Key News & Latest Developments
    7.5 Prudential
        7.5.1 Prudential Company Summary
        7.5.2 Prudential Business Overview
        7.5.3 Prudential Travel Insurance Major Product Offerings
        7.5.4 Prudential Travel Insurance Revenue in Global Market (2018-2023)
        7.5.5 Prudential Key News & Latest Developments
    7.6 ACE&Chubb
        7.6.1 ACE&Chubb Company Summary
        7.6.2 ACE&Chubb Business Overview
        7.6.3 ACE&Chubb Travel Insurance Major Product Offerings
        7.6.4 ACE&Chubb Travel Insurance Revenue in Global Market (2018-2023)
        7.6.5 ACE&Chubb Key News & Latest Developments
    7.7 Manulife
        7.7.1 Manulife Company Summary
        7.7.2 Manulife Business Overview
        7.7.3 Manulife Travel Insurance Major Product Offerings
        7.7.4 Manulife Travel Insurance Revenue in Global Market (2018-2023)
        7.7.5 Manulife Key News & Latest Developments
    7.8 UnitedHealthcare Global
        7.8.1 UnitedHealthcare Global Company Summary
        7.8.2 UnitedHealthcare Global Business Overview
        7.8.3 UnitedHealthcare Global Travel Insurance Major Product Offerings
        7.8.4 UnitedHealthcare Global Travel Insurance Revenue in Global Market (2018-2023)
        7.8.5 UnitedHealthcare Global Key News & Latest Developments
    7.9 Mapfre
        7.9.1 Mapfre Company Summary
        7.9.2 Mapfre Business Overview
        7.9.3 Mapfre Travel Insurance Major Product Offerings
        7.9.4 Mapfre Travel Insurance Revenue in Global Market (2018-2023)
        7.9.5 Mapfre Key News & Latest Developments
    7.10 AXA
        7.10.1 AXA Company Summary
        7.10.2 AXA Business Overview
        7.10.3 AXA Travel Insurance Major Product Offerings
        7.10.4 AXA Travel Insurance Revenue in Global Market (2018-2023)
        7.10.5 AXA Key News & Latest Developments
    7.11 Tokio Marine Holdings
        7.11.1 Tokio Marine Holdings Company Summary
        7.11.2 Tokio Marine Holdings Business Overview
        7.11.3 Tokio Marine Holdings Travel Insurance Major Product Offerings
        7.11.4 Tokio Marine Holdings Travel Insurance Revenue in Global Market (2018-2023)
        7.11.5 Tokio Marine Holdings Key News & Latest Developments
    7.12 China Pacific insurance
        7.12.1 China Pacific insurance Company Summary
        7.12.2 China Pacific insurance Business Overview
        7.12.3 China Pacific insurance Travel Insurance Major Product Offerings
        7.12.4 China Pacific insurance Travel Insurance Revenue in Global Market (2018-2023)
        7.12.5 China Pacific insurance Key News & Latest Developments
    7.13 Hanse Merkur
        7.13.1 Hanse Merkur Company Summary
        7.13.2 Hanse Merkur Business Overview
        7.13.3 Hanse Merkur Travel Insurance Major Product Offerings
        7.13.4 Hanse Merkur Travel Insurance Revenue in Global Market (2018-2023)
        7.13.5 Hanse Merkur Key News & Latest Developments
    7.14 Ping An Insurance (Group) Company of China
        7.14.1 Ping An Insurance (Group) Company of China Company Summary
        7.14.2 Ping An Insurance (Group) Company of China Business Overview
        7.14.3 Ping An Insurance (Group) Company of China Travel Insurance Major Product Offerings
        7.14.4 Ping An Insurance (Group) Company of China Travel Insurance Revenue in Global Market (2018-2023)
        7.14.5 Ping An Insurance (Group) Company of China Key News & Latest Developments
    7.15 People's insurance company of China
        7.15.1 People's insurance company of China Company Summary
        7.15.2 People's insurance company of China Business Overview
        7.15.3 People's insurance company of China Travel Insurance Major Product Offerings
        7.15.4 People's insurance company of China Travel Insurance Revenue in Global Market (2018-2023)
        7.15.5 People's insurance company of China Key News & Latest Developments
    7.16 China Life
        7.16.1 China Life Company Summary
        7.16.2 China Life Business Overview
        7.16.3 China Life Travel Insurance Major Product Offerings
        7.16.4 China Life Travel Insurance Revenue in Global Market (2018-2023)
        7.16.5 China Life Key News & Latest Developments
    7.17 Sompo Japan Nipponkoa
        7.17.1 Sompo Japan Nipponkoa Company Summary
        7.17.2 Sompo Japan Nipponkoa Business Overview
        7.17.3 Sompo Japan Nipponkoa Travel Insurance Major Product Offerings
        7.17.4 Sompo Japan Nipponkoa Travel Insurance Revenue in Global Market (2018-2023)
        7.17.5 Sompo Japan Nipponkoa Key News & Latest Developments
8 Conclusion
9 Appendix
    9.1 Note
    9.2 Examples of Clients
    9.3 Disclaimer

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Travel Insurance Market, Global Outlook and Forecast 2023-2029

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