Growth in tourism is the prime factor that drives the travel insurance market. According to UNWTO, international tourist arrivals grew at a rate of 4.4% in 2015 to reach a total of 1,184 million, with North America witnessing the highest inbound travel. With the growing tourist traffic, increased incidences of loss of luggage, important documents, medical emergencies, and natural calamities are being registered. To mitigate the risk associated with such incidences,more number of travelers are opting for travel insurance. In addition, there are several countries, where travel insurance is mandatory for obtaining VISA. For instance, to visit countries, such as the U.S., France, Belgium, Luxembourg, Norway, Finland, and Poland among others, travel health insurance is a must. Read more details at: https://www.alliedmarketresearch.com/travel-insurance-market

1. TRAVEL INSURANCE
MARKET
Opportunities and Forecasts,
2014 – 2021
Pages: 110
Published: 2016

2. • Travel Insurance Market Report, published by Allied Market Research, forecasts
that the global market is expected to garner $28,264 million by 2022, growing at
a CAGR of 8.5% during the period 2016- 2022.
• In 2015, Europe lead the travel insurance market, followed by Asia-Pacific.
Growth in the region has been supplemented by rise in number of senior citizen
travelers, and increase in business travel expenditure.
• Growth in tourism is the prime factor that drives the travel insurance market.
According to UNWTO, international tourist arrivals grew at a rate of 4.4% in 2015
to reach a total of 1,184 million, with North America witnessing the highest
inbound travel.
Read more at : https://www.alliedmarketresearch.com/travel-insurance-
market
TRAVEL INSURANCE MARKET
OVERVIEW

3. TRAVEL INSURANCE MARKET
Travelling internationally is becoming easy with the increased aging
population, growth in middle class, and improved infrastructure
combined with technological advances and propelled demand for travel
insurance. Low dependency ratio, rise in disposable income, more spare
time, and rise in aspirations gave rise to Gen S travelers. A notable
increase in the number of senior citizen travelers especially leisure
travelers would have remarkable impact on travel insurance industry
Bhawna Kohli

4. TRAVEL INSURANCE MARKET
KEY BENEFITS
• The study provides an in-depth analysis of the world travel insurance market
with current trends and future estimations to elucidate the imminent
investment pockets.
• The report provides a quantitative analysis from 2014 to 2022, which is
expected to enable the stakeholders to capitalize on prevailing market
opportunities.
• The report provides actual historical figures for 2014 and 2015 and provides
forecasts for 2016 to 2022, considering 2015 as base.
• Competitive intelligence highlights the business practices followed by
leading players across various regions.

5. MIDDLE EAST TRAVEL INSURANCE
MARKET

6. • In 2015, Europe was the highest revenue-generating region, followed by
Asia-Pacific.
• Single trip travel insurance policies would continue to be the major
revenue generating segment throughout the analysis period.
• Family travelers occupied prominent share of the overall market revenue
in 2015 and would continue to lead the market over 2016-2022.
• Insurance intermediaries would be the highest- revenue generating
market segment throughout 2014-2022.
TRAVEL INSURANCE MARKET
KEY FINDINGS

7. EU POPULATION PARTICIPATING IN
TOURISM BY AGE GROUP

8. KEY PLAYERS IN INDUSTRY
• Berkshire Hathaway Specialty Insurance,
• Travelex Group,
• Tokio Marine HCC Medical Insurance Services Group,
• Aviva PLC,
• American Express Company,
• Travel Insured International.
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9. Sales
North America 2nd Qtr 3rd Qtr 4th Qtr
TRAVEL INSURANCE MARKET
BY DISTRIBUTION CHANNEL
BY
DISTRIBUTION
CHANNEL
Insurance
Aggregator
Insurance
Intermediari
es
Insurance
Company
Bank
Insurance
Broker

10. MARKET SEGMENT BY BY
INSURANCE COVER
BY
INSURANCE
COVER
Single Trip
Travel
Insurance
Annual
Multi-trip
Travel
Insurance
Long-Stay
Travel
Insurance

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insurance-market