Travel Insurance Global Market Report 2023: Sector to Reach $33.7 Billion by 2028 at a CAGR of 13.34%


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Dublin, March 17, 2023 (GLOBE NEWSWIRE) — The “Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to’s offering.

The global travel insurance market size reached US$ 15.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 33.7 Billion by 2028, exhibiting a CAGR of 13.34% during 2022-2028.

Travel insurance provides financial protection for expenses or losses incurred due to unexpected events while domestic or overseas travel. It generally covers the costs of lost or stolen belongings, emergency medical care, accidental death, and trip cancellation and interruption.

It takes into effect from the day of travel until the insured reaches back home. Nowadays, several companies are providing travel insurance with 24/7 emergency services, such as replacing lost passports, cash wire assistance and re-booking canceled flights. They are also offering customization options depending on the geographical location and as per the requirements of the insured individuals.

The substantial growth in the travel and tourism industry in recent years, on account of inflating disposable incomes, rising business travels and the easy availability of online travel bookings and discounted package holidays represents one of the major factors bolstering the global travel insurance market growth.

Moreover, governments of numerous countries have made it mandatory to attach travel insurance documents while applying for a visa, which is also contributing to the market growth.

Apart from this, leading players 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.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Allianz SE, American Express Company, American International Group, AXA SA, Berkshire Hathaway Specialty Insurance Company, Generali Group, Insure & Go Insurance Services (Mapfre S.A.), Seven Corners Inc., Travel Insured International Inc. (Crum & Forster), USI Affinity (USI Insurance Services) and Zurich Insurance Group AG.

Key Questions Answered in This Report
1. What was the size of the global travel insurance market in 2022?
2. What is the expected growth rate of the global travel insurance market during 2023-2028?
3. What are the key factors driving the global travel insurance market?
4. What has been the impact of COVID-19 on the global travel insurance market?
5. What is the breakup of the global travel insurance market based on the insurance type?
6. What is the breakup of the global travel insurance market based on the coverage?
7. What is the breakup of the global travel insurance market based on distribution channel?
8. What is the breakup of the global travel insurance market based on the end user?
9. What are the key regions in the global travel insurance market?
10. Who are the key players/companies in the global travel insurance market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Travel Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Insurance Type
6.1 Single-Trip Travel Insurance
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Annual Multi-Trip Insurance
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Long-Stay Travel Insurance
6.3.1 Market Trends
6.3.2 Market Forecast

7 Market Breakup by Coverage
7.1 Medical Expenses
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Trip Cancellation
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Trip Delay
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Property Damage
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast

8 Market Breakup by Distribution Channel
8.1 Insurance Intermediaries
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Banks
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Insurance Companies
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Insurance Aggregators
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Insurance Brokers
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast

9 Market Breakup by End User
9.1 Senior Citizens
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Education Travelers
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Business Travelers
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Family Travelers
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players

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