Sector to reach US$ 33.7 billion by 2028 with CAGR of 13.34%

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Dublin, March 17, 2023 (GLOBE NEWSWIRE) — “Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” has been added to offer.

The global travel insurance market size reached USD 15.9 billion in 2022. Looking ahead, the publisher expects the market to reach USD 33.7 billion by 2028, exhibiting a CAGR of 13.34% during 2022 -2028.

Travel insurance offers financial protection for expenses or losses incurred due to unexpected events while traveling domestically or internationally. It usually covers the costs of lost or stolen belongings, emergency medical care, accidental death, and trip cancellation and interruption.

It takes effect from the day of travel until the insured person returns home. Currently, several companies offer travel insurance with 24/7 emergency services such as replacement of lost passports, money transfer assistance and rescheduling of canceled flights. They are also offering customization options depending on the geographic location and as per the requirements of policyholders.

The substantial growth in the travel and tourism industry in recent years, due to increased disposable income, increased business travel and the easy availability of online travel bookings and discounted vacation packages, represents one of the main factors that driving the growth of the global travel insurance market.

Furthermore, the governments of several countries have made it mandatory to attach travel insurance documents when applying for a visa, which is also contributing to the growth of the market.

Additionally, major players are incorporating digital tools such as application program interface (API), artificial intelligence (AI), data analytics and global positioning system (GPS) to improve distribution systems and provide user experience. personalized.

Competitive scenario:

The report also analyzed the competitive landscape of the market with some of the key players being Allianz SE, American Express Company, American International Group, AXA SA, Berkshire Hathaway Specialty Insurance Company, Generali Group, Insure & Go Insurance Services (Mapfre SA), Seven Corners Inc., Travel Insured International Inc. (Crum & Forster), USI Affinity (USI Insurance Services) and Zurich Insurance Group AG.

Key questions answered in this report
1. What was the size of the global travel insurance market in 2022?
2. What is the expected growth rate of the Global Travel Insurance Market during 2023-2028?
3. What are the key factors driving the global travel insurance market?
4. What was the impact of COVID-19 on the global travel insurance market?
5. What is the breakdown of the global travel insurance market based on insurance type?
6. What is the breakdown of the global travel insurance market based on coverage?
7. What is the breakdown of the global travel insurance market based on distribution channel?
8. What is the breakdown of the global travel insurance market based on end-user?
9. What are the main regions of the global travel insurance market?
10. Who are the main players/companies in the global travel insurance market?

Main topics covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Main Industry Trends

5 Global Travel Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market breakdown by type of insurance
6.1 Single Trip Travel Insurance
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Annual Multi-trip Insurance
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Long Stay Travel Insurance
6.3.1 Market Trends
6.3.2 Market Forecast

7 Market breakdown by coverage
7.1 Medical Expenses
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Trip cancellation
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Travel Delay
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Property damage
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast

8 Market breakdown by distribution channel
8.1 Insurance Intermediaries
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Banks
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Insurers
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Insurance Aggregators
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Insurance Brokers
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Other
8.6.1 Market Trends
8.6.2 Market Forecast

9 Market Breakdown by End User
9.1 Seniors
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Educational Travelers
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Business Travelers
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Family Travelers
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast

10 Market Breakdown by Regions

11 SWOT Analysis

12 Value Chain Analysis

13 Porter’s Five Forces Analysis

14 Price Analysis

15 Competitive Scenario
15.1 Market Structure
15.2 Key Players
15.3 Profiles of key participants

For more information on this report, visit

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Sector to reach US$ 33.7 billion by 2028 with CAGR of 13.34%

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