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Travel Insurance Market by Type and Geography - Forecast Analysis 2022-2026

  • Published: Aug 2022
  • Pages: 136
  • SKU: IRTNTR70405
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The travel insurance market share is expected to increase by USD 9.88 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.23%.

This travel insurance market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers travel insurance market segmentation by end-user (senior citizens, business travel, family travel, and others) and geography (North America, Europe, APAC, MEA, and South America). The travel insurance market report also offers information on several market vendors, including Allianz Group, American Express Co., American International Group Inc., Arch Capital Group Ltd., Aviva Plc, AXA Group, Berkshire Hathaway Specialty Insurance Co., Groupama Assurances Mutuelles, HanseMerkur Reiseversicherung AG, HDFC Bank Ltd., HTH Travel Insurance, IMG Travel Insurance, Insure and Go Insurance Services Ltd., Seven Corners Inc., Travel Insured International, Travelex Group Companies, TravelSafe Insurance, Trip Mate Inc., USI Insurance Services, and Zurich Insurance Co. Ltd. among others.

What will the Travel Insurance Market Size be During the Forecast Period?

Travel Insurance Market Size

Download Report Sample to Unlock the Travel Insurance Market Size for the Forecast Period and Other Important Statistics

 

Travel Insurance Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post-COVID-19 era. The growing tourism and business travel are notably driving the travel insurance market growth, although factors such as lack of awareness and delayed services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the travel insurance industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Travel Insurance Market Driver

One of the key factors driving the travel insurance market growth is the growing tourism and business travel. The travel and tourism industry has witnessed substantial growth in recent years on account of inflating disposable incomes, rising business travel, and the easy availability of online travel bookings. These factors are bolstering the global travel insurance market growth. Moreover, governments of numerous countries, such as the US, the UK, Australia, Germany, and Belgium, have made it mandatory to attach travel insurance documents while applying for visas, which is also contributing to market growth. Major market vendors such as AXA and Allianz Group are incorporating digital tools, such as application program interface (API), artificial intelligence (AI), data analytics, and global positioning system (GPS), for improving distribution systems and providing personalized user experience. Some insurers are offering insurance cover for COVID-19-related medical expenses for inbound travelers and extending the expiration period without adding extra charges to their policies. Coverage of medical emergencies, trip cancelation, and trip interruption during the pandemic has become essential. Hence, the growth of the tourism industry will fuel gross premiums for the travel insurance market during the forecast period.

Key Travel Insurance Market Trend

Another key factor driving the travel insurance market growth is the insurance for unconventional expenses. Vacation rentals are popular, especially in the US. Thus, when a tourist opts for vacation rentals, the person gets accommodation in furnished houses, apartments, or resort condominium complexes. Most vacation rentals have standardized cancelation policies (flexible, moderate, and strict), which protect both the guest and host alike and generate little or negligible reimbursements. Some of the top websites where people can list and choose rentals include Airbnb, Flip Key, VRBO, Home Away, Roomorama, House Trip, and Wimdu. If a tourist book rental is offered by these vendors, then the travel is covered under the travel insurance policy. In such rentals, the cost includes expenses, deposits, and cancelation fees. Therefore, if a tourist (including a family member) falls ill during a vacation, he or she needs to show valid proof of the vacation rental and out-of-the-pocket expenses to claim reimbursements.

Key Travel Insurance Market Challenge

Lack of awareness and delayed services is one of the key challenges hindering the travel insurance market growth. Lack of awareness about insurance as a protection tool and inadequate details about the types of insurance products pose a major threat to the market. This often keeps potential clients away, which is one of the primary reasons for the slow growth of the market. Insurance service providers often offer services at a slow pace. The claim settlement process is a vital component in the whole process flow as it is crucial for the goodwill of the insurance company. Often the insurance companies are not agile in processing claims, especially processing documents through various departments in a foreign country. This has eroded client trust in travel insurance products and makes travelers reluctant to spend on such products. Moreover, in emerging countries, most insurance firms do not provide adequate insurance coverage for trip cancelation, especially for high-end customized trips that cost between $1,000 and above. This is another biggest challenge in the travel insurance market because some customers pay higher premiums; however, companies may not provide journey coverage for established international destinations.

This travel insurance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global travel insurance market as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the travel insurance market during the forecast period.

Who are the Major Travel Insurance Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Allianz Group
  • American Express Co.
  • American International Group Inc.
  • Arch Capital Group Ltd.
  • Aviva Plc
  • AXA Group
  • Berkshire Hathaway Specialty Insurance Co.
  • Groupama Assurances Mutuelles
  • HanseMerkur Reiseversicherung AG
  • HDFC Bank Ltd.
  • HTH Travel Insurance
  • IMG Travel Insurance
  • Insure and Go Insurance Services Ltd.
  • Seven Corners Inc.
  • Travel Insured International
  • Travelex Group Companies
  • TravelSafe Insurance
  • Trip Mate Inc.
  • USI Insurance Services
  • Zurich Insurance Co. Ltd.

 

This statistical study of the travel insurance market encompasses successful business strategies deployed by the key vendors. The travel insurance market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Allianz Group - The company offers various travel insurance policies.

To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The travel insurance market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Travel Insurance Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the travel insurance market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Travel Insurance Market?

Travel Insurance Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

37% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for travel insurance in North America. Market growth in this region will be slower than the growth of the market in APAC regions.

The majority percentage of the population in North America goes on annual travel vacations within the country or abroad. As many opt for adventure sports, their trip risks remain high. Therefore, vendors in the market offer special and customized policies to meet customer needs, this will facilitate the travel insurance market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The travel insurance market in the region registered a decline in growth owing to the lockdowns imposed because of the outbreak of COVID-19 in 2020 and early 2021. Government organizations-imposed travel restrictions to prevent the spread of COVID-19. Flight operations were also suspended, due to which there was a decrease in the number of travelers. 

What are the Revenue-generating End-user Segments in the Travel Insurance Market?

Travel Insurance Market Share

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The travel insurance market share growth among senior citizens will be significant during the forecast period. Travel insurance plans for senior citizens are meant for elderly travelers. These plans cover various health and age-related aspects of senior citizens that are excluded from basic travel insurance benefits. Travel insurance for senior citizens can safeguard trips by covering overseas medical expenses, theft of belongings, and more, depending on the coverage which will drive the demand for this segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the travel insurance market size and actionable market insights on post-COVID-19 impact on each segment.

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Insurance Software market - The market share is expected to increase by USD 7.29 bn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.09%.

India Travel Services market - The market share is expected to reach an estimated value of USD 11.78 billion by 2026 at an accelerating CAGR of 11.38%.

Travel Technologies market - The market share is expected to increase by USD 3.70 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.67%.

APAC Travel Insurance market - The market share is expected to grow at a CAGR of 10.81 percent over the period 2013-2018. 

Travel Insurance Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.23%

Market growth 2022-2026

$ 9.88 billion

Market structure

Fragmented

YoY growth (%)

8.13

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Allianz Group, American Express Co., American International Group Inc., Arch Capital Group Ltd., Aviva Plc, AXA Group, Berkshire Hathaway Specialty Insurance Co., Groupama Assurances Mutuelles, HanseMerkur Reiseversicherung AG, HDFC Bank Ltd., HTH Travel Insurance, IMG Travel Insurance, Insure and Go Insurance Services Ltd., Seven Corners Inc., Travel Insured International, Travelex Group Companies, TravelSafe Insurance, Trip Mate Inc., USI Insurance Services, and Zurich Insurance Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Travel Insurance Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive travel insurance market growth during the next five years
  • Precise estimation of the travel insurance market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the travel insurance industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of travel insurance market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Senior citizens - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Senior citizens - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Senior citizens - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Senior citizens - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Senior citizens - Year-over-year growth 2021-2026 (%)
    • 5.4 Business Travel - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Business Travel - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Business Travel - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Business Travel - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Business Travel - Year-over-year growth 2021-2026 (%)
    • 5.5 Family Travel - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Family Travel - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Family Travel - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Family Travel - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Family Travel - Year-over-year growth 2021-2026 (%)
    • 5.6 Others - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by End-user
      • Exhibit 44: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 48: Chart on Geographic comparison
      • Exhibit 49: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 Allianz Group
              • Exhibit 97: Allianz Group - Overview
              • Exhibit 98: Allianz Group - Business segments
              • Exhibit 99: Allianz Group - Key news
              • Exhibit 100: Allianz Group - Key offerings
              • Exhibit 101: Allianz Group - Segment focus
            • 10.4 American Express Co.
              • Exhibit 102: American Express Co. - Overview
              • Exhibit 103: American Express Co. - Business segments
              • Exhibit 104: American Express Co. - Key offerings
              • Exhibit 105: American Express Co. - Segment focus
            • 10.5 American International Group Inc.
              • Exhibit 106: American International Group Inc. - Overview
              • Exhibit 107: American International Group Inc. - Business segments
              • Exhibit 108: American International Group Inc. - Key news
              • Exhibit 109: American International Group Inc. - Key offerings
              • Exhibit 110: American International Group Inc. - Segment focus
            • 10.6 AXA Group
              • Exhibit 111: AXA Group - Overview
              • Exhibit 112: AXA Group - Business segments
              • Exhibit 113: AXA Group - Key offerings
              • Exhibit 114: AXA Group - Segment focus
            • 10.7 Insure and Go Insurance Services Ltd.
              • Exhibit 115: Insure and Go Insurance Services Ltd. - Overview
              • Exhibit 116: Insure and Go Insurance Services Ltd. - Product / Service
              • Exhibit 117: Insure and Go Insurance Services Ltd. - Key offerings
            • 10.8 Seven Corners Inc.
              • Exhibit 118: Seven Corners Inc. - Overview
              • Exhibit 119: Seven Corners Inc. - Product / Service
              • Exhibit 120: Seven Corners Inc. - Key offerings
            • 10.9 Travel Insured International
              • Exhibit 121: Travel Insured International - Overview
              • Exhibit 122: Travel Insured International - Product / Service
              • Exhibit 123: Travel Insured International - Key offerings
            • 10.10 Trip Mate Inc.
              • Exhibit 124: Trip Mate Inc. - Overview
              • Exhibit 125: Trip Mate Inc. - Product / Service
              • Exhibit 126: Trip Mate Inc. - Key offerings
            • 10.11 USI Insurance Services
              • Exhibit 127: USI Insurance Services - Overview
              • Exhibit 128: USI Insurance Services - Product / Service
              • Exhibit 129: USI Insurance Services - Key offerings
            • 10.12 Zurich Insurance Co. Ltd.
              • Exhibit 130: Zurich Insurance Co. Ltd. - Overview
              • Exhibit 131: Zurich Insurance Co. Ltd. - Business segments
              • Exhibit 132: Zurich Insurance Co. Ltd. - Key offerings
              • Exhibit 133: Zurich Insurance Co. Ltd. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 134: Inclusions checklist
                • Exhibit 135: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 136: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 137: Research methodology
                • Exhibit 138: Validation techniques employed for market sizing
                • Exhibit 139: Information sources
              • 11.5 List of abbreviations
                • Exhibit 140: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Travel Insurance market growth will increase by $9880.08 million during 2022-2026.
              The travel insurance market is expected to grow at a CAGR of 9.23% during 2022-2026.
              Technavio has segmented the travel insurance market by end-user (Senior citizens, Business travel, Family travel, and Others) and geographic (North America, Europe, APAC, Middle East and Africa, South America, North America, Europe, APAC, MEA, and South America).
              Allianz Group, American Express Co., American International Group Inc., Arch Capital Group Ltd., Aviva Plc, AXA Group, Berkshire Hathaway Specialty Insurance Co., Groupama Assurances Mutuelles, HanseMerkur Reiseversicherung AG, HDFC Bank Ltd., HTH Travel Insurance, IMG Travel Insurance, Insure and Go Insurance Services Ltd., Seven Corners Inc., Travel Insured International, Travelex Group Companies, TravelSafe Insurance, Trip Mate Inc., USI Insurance Services, Zurich Insurance Co. Ltd. are a few of the key vendors in the travel insurance market.
              North America will register the highest growth rate of 36.82% among the other regions. Therefore, the travel insurance market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the travel insurance market growth are:
              • Growing tourism and business travels
              • Insurance for unconventional expenses
              The travel insurance market vendors should focus on grabbing business opportunities from the senior citizens segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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