Global Travel Insurance Market Report 2023: Increasing Spending on Travel Protection Plans Fuels Growth

DUBLIN, June 21, 2023 /PRNewswire/ -- The "Travel Insurance Market: Global Market Size, Forecast, Insights, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

The global travel insurance market is expected to grow at a CAGR of around 8.0% to reach $29.2 billion in 2030 from $16.99 billion in 2023.

This report on global travel insurance market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape.

The report presents a clear picture of the global travel insurance market by segmenting the market based on insurance type, coverage, distributional channel, end-user, and region.

Also, detailed profiles of companies operating in the travel insurance market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.

Companies Mentioned

• 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

Market Dynamics

Drivers

• Increasing Spending on Travel Protection Plans
• Mandatory Travel Insurance Policies in North America & Europe
• Growth in Tourism Industry in Latin America & MEA

Challenges

• Decline in International Travelling Activities due to Coronavirus Pandemics
• Lack of Consumer Experiences in Terms of its Coverages and Premium Rates

Historical & Forecast Period

• Base Year: 2022
• Historical Period: 2018-2022
• Forecast Period: 2023-2030

Market Segmentation

by Insurance Type

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

by Coverage

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

by Distribution Channel

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

by End-User

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

by Region

• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Rest of Asia Pacific
• Latin America
• Mexico
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• Turkey
• Iran
• United Arab Emirates
• Rest of Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/labxt

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SOURCE Research and Markets