Travel Insurance Market Size with COVID-19 Impact and Forecast Report by 2027


Posted November 4, 2020 by pankajrathi

Increase in tourism which led to several incidences like trip cancellers, loss of luggage and important documents, and medical emergencies is the key driving factor for market which is expected to boost the global travel insurance market growth.
 
Latest published report on the Travel Insurance market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027. The report is based on an extensive study supervised by adept analysts.

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Travel insurance is mainly designed to cover the cost and losses associated with travelling. Travel insurance is useful protection for those travelling domestically or internationally. It is specialized form of insurance intended to cover financial default, medical expenses, and other sources of financial loss during travelling.

Market Drivers
Increase in tourism which led to several incidences like trip cancellers, loss of luggage and important documents, and medical emergencies is the key driving factor for market which is expected to boost the global travel insurance market growth. Furthermore, increase in disposable income, easy online travel bookings, extensive coverage of holidays, package holidays, and others positively contribute the market growth. Also, convenient options offered to customers for travel insurance purchases through online comparison shopping sites like direct airline sites and online travel agencies, company websites and applications will fuel the market growth over the forecast period. In addition to that, travel insurance providers offer various plans by covering costs and losses depending on coverage in the policy which is expected to propel the global travel insurance market growth.

Market Restraints
However, lack of awareness regarding travel insurance policies, and low consumer experiences in terms of coverage are major restraining factors which are expected to hinder the global travel insurance market growth during this analysis period.

Market Key Players
Various key players are discussed in this report such as Allianz Group, American International Group Inc., Assicurazioni Generali S.P.A, AXA, Insure & Go Insurance Services Limited, Seven Corners Inc., Travel Insured International, TravelSafe Insurance, USI Insurance Services, and Zurich Insurance Co. Limited

Market Taxonomy
By Insurance Cover
• Single-Trip Travel Insurance
• Annual Multi-Trip Travel Insurance
• Long-Stay Travel Insurance
By Distribution Channel
• Insurance Intermediaries
• Insurance Companies
• Banks
• Insurance Brokers
• Insurance Aggregators
By End User
• Senior Citizens
• Education Travelers
• Business Travelers
• Family Travelers
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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Issued By qualiket research
Country India
Categories Business , Insurance , Travel
Tags travel insurance market
Last Updated November 4, 2020