Increase in technological development in the travel insurance industry is driving growth [Boss Insurance]

Increase In Technological Development In The Travel Insurance Industry Is Driving Growth

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Global travel insurance market

Global Travel Insurance Market

Global travel insurance market

Dublin, April 06, 2023 (GLOBE NEWSWIRE) — The report “Global Travel Insurance Market (2023-2028) by Type, Distribution, End User and Geography, Competitive Analysis, Covid-19 Impact with Ansoff Analysis” has been added to from offer.

The Global Travel Insurance Market is estimated to be valued at USD 19.75 Billion in 2023 and is projected to reach USD 46.27 Billion by 2028, growing at a CAGR of 18.56%.

Market dynamics


  • Increase in tourism

  • High cost of medical treatment abroad

  • Mandatory travel insurance in some countries

  • Growing demand for expense reimbursement

  • Increase technological development in the travel insurance sector




Market segmentation

The global travel insurance market is segmented on the basis of type, distribution, end user and geography.

  • By type, the market is categorized into one-way travel insurance, annual multi-trip travel insurance, and long-stay travel insurance.

  • By distribution, the market is categorized into insurance intermediaries, insurance companies, banks, and insurance brokers and aggregators.

  • By end-user, the market is categorized into educational travel, business traveler, family traveler, senior citizen, and others.

  • By geography, the market is categorized into Americas, Europe, Middle East & Africa, and Asia-Pacific.

Company Profiles

The report provides a detailed analysis of competitors in the market. It covers the analysis of financial performance of listed companies in the market. The report also offers detailed information about recent development and competitive scenario of the companies. Some of the companies covered in this report are Allianz Group, Aviva PLC, Berkshire Hathaway Specialty Insurance Company, Munich Reinsurance Company, Travelsafe Insurance, etc.

Countries studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)

  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)

  • Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)

  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Ansoff analysis

The report presents a detailed analysis of the Ansoff matrix for the global travel insurance market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design business growth strategies. The matrix can be used to assess approaches in four strategies viz. Market development, market penetration, product development and diversification. The matrix is ​​also used for risk analysis to understand the risk associated with each approach.

The analyst analyzes the global travel insurance market using the Ansoff Matrix to provide the best approaches a company can take to improve its position in the market.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has designed appropriate strategies for market growth.

Why buy this report?

  • The report offers a comprehensive assessment of the global travel insurance market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. Projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The main research is done through interviews, surveys and observations of renowned personnel in the industry.

  • The report includes in-depth analysis of the market using Porter’s 5 forces model, PESTLE analysis and Ansoff matrix. Additionally, the impact of COVID-19 and the impact of economic downturn and impending recession on the market are also presented in the report.

  • The report also includes the regulatory scenario in the industry, which will help you to make an informed decision. The report discusses the major regulatory bodies and major rules and regulations imposed on this industry across various geographies.

  • The report also contains competitive analysis using Positioning Quadrants, the analyst’s competitive positioning tool.

Report Highlights:

  • A comprehensive analysis of the market, including the parent industry

  • Important market dynamics and trends

  • Market segmentation

  • Historical, current and projected market size based on value and volume

  • Market shares and strategies of the main players

  • Recommendations for companies to strengthen their presence in the market

Key Attributes:

Report attribute


Number of pages


Forecast period

2023 – 2028

Estimated market value (USD) in 2023

$19.75 billion

Expected market value (USD) by 2028

$46.27 billion

Compound annual growth rate


Regions covered


Main topics covered:

1 Description of the report
1.1 Objectives of the study
1.2 Market Definition
1.3 Currency
1.4 years considered
1.5 Language
1.6 Key Stakeholders

2 Research methodology
2.1 Research process
2.2 Data collection and validation
2.2.1 Secondary research
2.2.2 Primary research
2.2.3 Analyst models
2.3 Market Size Estimation
2.3.1 Bottom-up approach
2.3.2 Top-down approach
2.4 Assumptions of the study
2.5 Limitations of the study

3 Executive summary
3.1 Presentation
3.2 Market Size, Segmentations and Outlook

4 Market dynamics

5 Market Analysis

6 Global Travel Insurance Market, by Type
6.1 Presentation
6.2 One-way travel insurance
6.3 Annual multi-trip travel insurance
6.4 Long Stay Travel Insurance

7 Global Travel Insurance Market, By Distribution
7.1 Presentation
7.2 Insurance intermediaries
7.3 Insurance companies
7.4 Banks
7.5 Insurance brokers and aggregators

8 Global Travel Insurance Market, By Demographics
8.1 Presentation

9 Global Travel Insurance Market, By End User
9.1 Presentation
9.2 Educational trips
9.3 Business travelers
9.4 Family travelers
9.5 Elderly
9.6 Others

10 Americas Travel Insurance Market

11 European travel insurance market

12 Middle East & Africa Travel Insurance Market

13 Travel insurance market in APAC

14 Competitive landscape

15 company profiles

16 Appendix

Companies cited

  • Allianz Group

  • American Express Co,

  • American International Group, Inc.

  • Assicurazioni Generali SpA

  • Atlas Travel Insurance Services Ltd.

  • Aviva PLC

  • AXA S.A.

  • Bajaj Finserv Ltd.

  • Battleface Insurance Services Ltd.

  • Berkshire Hathaway Specialty Insurance Co.

  • China Life Insurance Co., Ltd.

  • China Pacific Life Insurance Co., Ltd.

  • Chubb Ltd.

  • Mapfre Insurance Company, Inc.

  • Ms & Ad Insurance Group Holdings, Inc.

  • Munich Reinsurance Company.

  • Ping An Insurance Company of China, Ltd.

  • Prudential Financial, Inc.

  • Saga API

  • Seven Corners, Inc.

  • Travelex Insurance Services

  • Travelsafe Insurance

  • USI Insurance Services

  • Zurich Insurance Company, Ltd

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