Global Travel Insurance Market 2018 Size, Share, Type and Application, Forecast by 2025embed
Travel insurance market 2018 is analyzed by insurance coverage, consumers and distribution channels in coming years. The research report gives industry statistics and overall market share of travel insurance industry by 2025.
Adroit Market Research Global Travel Insurance Market Size by Type (Medical Expenses, Trip Cancellation, Trip Delay, Property Damage), by Application (Domestic Travel, International Travel), by Type of Travel (Business Travel, Leisure Travel), By Region and Forecast 2018 to 2025 Single Use License: US$ 4150 +1 (214) 884-6068 [email protected] www.adroitmarketresearch.com Request Sample Adroit Market Research Global Travel Insurance Market Size To Cross The USD 35 Billion Mark By 2025 • The global travel insurance market size is expected to be valued at more than USD 35 billion by 2025 owing to increasing levels of tourism globally. The global tourist arrivals reached approximately 11.9 billion in 2017. • Tourism has become the largest component of international trade in services, constituting 25% of total share. Thus, tourism growth has provided an impetus to travel insurance companies to capitalize on the rising demand for insurance among travellers. The rising awareness amongst young travellers regarding the need to secure their travel against medical and non-medical contingencies is a major factor driving the growth of global travel insurance industry. • Insurance providers are increasing their value-added services to achieve product differentiation from their competitors and to maintain better customer relationships. Recent market trends include the usage of data analytics to predict risks and formulate precise contingency plans. For instance, insurers can monitor weather conditions and notify their customers in advance, so that they can plan their trips accordingly. Such travel insurance industry trends are majorly being adopted by travel insurance providers located in the U.S. The U.S. travel insurance market size is estimated to cross USD 8 bn mark by the end of 2025. Browse the complete report on @ https://www.adroitmarketresearch.com/industry-reports/travel-insurancemarket +1 (214) 884-6068 [email protected] www.adroitmarketresearch.com Adroit Market Research Global Travel Insurance Market Size To Cross The USD 35 Billion Mark By 2025 • On the basis of type, the medical expense segment is anticipated to witness the highest growth during the forecast period. Medical expense coverage is crucial since it covers the cost of emergency treatment as well as any other overhead cost occurring at the time of travel. The uncertainty while travelling to foreign lands can pose health hazards and therefore, many countries have made travel insurance mandatory to issue VISA. • Geographically, Asia Pacific held the largest share in global travel insurance market. This has been attributed to the high demand for corporate travel insurance from countries such as China, Japan and Korea. The growing segment of travellers in countries such as India is providing tremendous opportunities to insurance companies and travel agencies to tap into. However, in terms of growth rate, Latin America is expected to exhibit the highest growth of 8.8% over the forecast period. Travel insurance is gaining popularity in several developing countries of Europe. UK travel insurance market share is expected to witness a decrease due to decline in the number of travellers. • Companies including Allianz SE, Munich Reinsurance America, Inc., American Express Company, Travelex Insurance Services, Atlas Travel Insurance Services Ltd, Aviva PLC, Saga Plc, Bajaj Finserv Limited, China Pacific Life Insurance Co., Ltd., MS&AD Insurance Group Holdings, Inc., Munich Reinsurance Company, Ping An Insurance Company of China, Ltd., China Life Insurance Company Limited., MAPFRE Insurance Company Inc., Prudential Financial Inc., and Chubb Limited amongst others have a broader presence within the global market. +1 (214) 884-6068 [email protected] www.adroitmarketresearch.com Adroit Market Research Key Segments of the Global Travel Insurance Market Type Overview, 2015-2025 (USD Million) • Medical Expenses • Trip Cancellation • Trip Delay • Property Damages Application Overview, 2015-2025 (USD Million) • Domestic Travel • Outbound Travel Type of Travel Overview, 2015-2025 (USD Million) • Business Travel • Leisure Travel +1 (214) 884-6068 [email protected] www.adroitmarketresearch.com Adroit Market Research Key Segments of the Global Travel Insurance Market Regional Overview, 2015-2025 (USD Million) • North America • Europe • Asia-Pacific • Latin America • Middle East & Africa Purchase a single user copy of the global Travel Insurance market report @ https://www.adroitmarketresearch.com/researchreport/purchase/78 +1 (214) 884-6068 [email protected] www.adroitmarketresearch.com Adroit Market Research About Us Contact Us Adroit Market Research is an India-based business analytics and consulting company. 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