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Travel Insurance Industry share, Forecast 2014 - 2022

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Growth in tourism is the prime factor that drives the travel insurance market. According to UNWTO, international tourist arrivals grew at a rate of 4.4% in 2015 to reach a total of 1,184 million, with North America witnessing the highest inbound travel. With the growing tourist traffic, increased incidences of loss of luggage, important documents, medical emergencies, and natural calamities are being registered. To mitigate the risk associated with such incidences,more number of travelers are opting for travel insurance.

In addition, there are several countries, where travel insurance is mandatory for obtaining VISA. For instance, to visit countries, such as the U.S., France, Belgium, Luxembourg, Norway, Finland, and Poland among others, travel health insurance is a must.

Read more details at: https://www.alliedmarketresearch.com/travel-insurance-market

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Travel Insurance Industry share, Forecast 2014 - 2022

  1. 1. TRAVEL INSURANCE MARKET Opportunities and Forecasts, 2014 – 2021 Pages: 110 Published: 2016
  2. 2. • Travel Insurance Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $28,264 million by 2022, growing at a CAGR of 8.5% during the period 2016- 2022. • In 2015, Europe lead the travel insurance market, followed by Asia-Pacific. Growth in the region has been supplemented by rise in number of senior citizen travelers, and increase in business travel expenditure. • Growth in tourism is the prime factor that drives the travel insurance market. According to UNWTO, international tourist arrivals grew at a rate of 4.4% in 2015 to reach a total of 1,184 million, with North America witnessing the highest inbound travel. Read more at : https://www.alliedmarketresearch.com/travel-insurance- market TRAVEL INSURANCE MARKET OVERVIEW
  3. 3. TRAVEL INSURANCE MARKET Travelling internationally is becoming easy with the increased aging population, growth in middle class, and improved infrastructure combined with technological advances and propelled demand for travel insurance. Low dependency ratio, rise in disposable income, more spare time, and rise in aspirations gave rise to Gen S travelers. A notable increase in the number of senior citizen travelers especially leisure travelers would have remarkable impact on travel insurance industry Bhawna Kohli
  4. 4. TRAVEL INSURANCE MARKET KEY BENEFITS • The study provides an in-depth analysis of the world travel insurance market with current trends and future estimations to elucidate the imminent investment pockets. • The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities. • The report provides actual historical figures for 2014 and 2015 and provides forecasts for 2016 to 2022, considering 2015 as base. • Competitive intelligence highlights the business practices followed by leading players across various regions.
  5. 5. MIDDLE EAST TRAVEL INSURANCE MARKET
  6. 6. • In 2015, Europe was the highest revenue-generating region, followed by Asia-Pacific. • Single trip travel insurance policies would continue to be the major revenue generating segment throughout the analysis period. • Family travelers occupied prominent share of the overall market revenue in 2015 and would continue to lead the market over 2016-2022. • Insurance intermediaries would be the highest- revenue generating market segment throughout 2014-2022. TRAVEL INSURANCE MARKET KEY FINDINGS
  7. 7. EU POPULATION PARTICIPATING IN TOURISM BY AGE GROUP
  8. 8. KEY PLAYERS IN INDUSTRY • Berkshire Hathaway Specialty Insurance, • Travelex Group, • Tokio Marine HCC Medical Insurance Services Group, • Aviva PLC, • American Express Company, • Travel Insured International. Download free Sample Report : https://www.alliedmarketresearch.com/request-free-sample/1610
  9. 9. Sales North America 2nd Qtr 3rd Qtr 4th Qtr TRAVEL INSURANCE MARKET BY DISTRIBUTION CHANNEL BY DISTRIBUTION CHANNEL Insurance Aggregator Insurance Intermediari es Insurance Company Bank Insurance Broker
  10. 10. MARKET SEGMENT BY BY INSURANCE COVER BY INSURANCE COVER Single Trip Travel Insurance Annual Multi-trip Travel Insurance Long-Stay Travel Insurance
  11. 11. Follow Us On Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/travel- insurance-market

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