Travel insurance is an insurance type that covers various loses that might be incurred during travel, such as medical expenses, lost luggage, trip cancellation, and accident, among others. Growth in tourism and rising globalization are the major factors that are expected to drive the growth of the travel insurance market. Countries such as Australia, Japan, and the US are witnessing increasing demand for travel insurance due to a high number of travelers in the region.
The report aims to provide an overview of travel insurance market with detailed market segmentation by distribution channel, cover type, end-user, and geography. The global travel insurance market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading travel insurance market players and offers key trends and opportunities in the travel insurance market.
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The List of Companies:
1. Allianz Global Assistance(AGA Service Company)
2. AXA SA
3. CSA Travel Protection
4. Insure and Go Insurance Services Limited
5. Seven Corners Inc.
6. Tata AIG General Insurance Company Limited
7. Travel Insured International
8. TravelSafe Insurance
9. Trip Mate, Inc.
10. USI Affinity
Growing volumes of travelers, growing awareness about travel insurance are the major factors that are expected to drive the growth of the travel insurance market. The market for travel insurance in the Asia-Pacific region is expected to grow at a significant rate owing to the growing tourism in the regions such as Thailand, India, and Singapore. The travel insurance market is highly fragmented with the presence of some of the major international players as well as regional player operating in the market.
The global travel insurance market is segmented on the basis of distribution channel, cover type, and end-user. Based on distribution channel, the market is segmented into insurance intermediaries, insurance companies, banks, insurance brokers, insurance aggregators, and others. On the basis of cover type the market is segmented as single trip, annual multi-trip, and long stay. On the basis of end-user the market is segmented as senior citizens, educational travelers, backpackers, business travelers, fully independent travelers, and others.
The report analyzes factors affecting travel insurance market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the travel insurance market in these regions.
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This post was originally published on Industry Mirror