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PUBLISHER: IMARC | PRODUCT CODE: 1642477
PUBLISHER: IMARC | PRODUCT CODE: 1642477
Travel Insurance Market Report by Insurance Type, Coverage, Distribution Channel, End User, and Region 2025-2033
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PAGES: 126 Pages
DELIVERY TIME: 2-3 business days
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The global travel insurance market size reached USD 20.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 50.4 Billion by 2033, exhibiting a growth rate (CAGR) of 10.77% during 2025-2033. There are various factors that are driving the market, which include the rising focus on enhanced convenience during purchasing, managing, and utilizing services, favorable government initiatives, and increasing demand for personalized and customized traveling solutions.
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.
Travel Insurance Market Trends:
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.
Travel Insurance Market Segmentation:
Breakup by Insurance Type:
Single-Trip Travel Insurance
Annual Multi-Trip Insurance
Long-Stay Travel Insurance
Breakup by Coverage:
Medical Expenses
Trip Cancellation
Trip Delay
Property Damage
Others
Breakup by Distribution Channel:
Insurance Intermediaries
Banks
Insurance Companies
Insurance Aggregators
Insurance Brokers
Others
Breakup by End User:
Senior Citizens
Education Travelers
Business Travelers
Family Travelers
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
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 2024?
- 2. What is the expected growth rate of the global travel insurance market during 2025-2033?
- 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?
Product Code: SR112024A2432
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting 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
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Allianz SE
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 American Express Company
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 American International Group
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 AXA SA
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Berkshire Hathaway Specialty Insurance Company
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Generali Group
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 Insure & Go Insurance Services (Mapfre S.A.)
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.8 Seven Corners Inc.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Travel Insured International Inc. (Crum & Forster)
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 USI Affinity (USI Insurance Services)
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Zurich Insurance Group AG
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.11.4 SWOT Analysis
- 15.3.1 Allianz SE
Product Code: SR112024A2432
List of Figures
- Figure 1: Global: Travel Insurance Market: Major Drivers and Challenges
- Figure 2: Global: Travel Insurance Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Travel Insurance Market: Breakup by Insurance Type (in %), 2024
- Figure 4: Global: Travel Insurance Market: Breakup by Coverage (in %), 2024
- Figure 5: Global: Travel Insurance Market: Breakup by Distribution Channel (in %), 2024
- Figure 6: Global: Travel Insurance Market: Breakup by End User (in %), 2024
- Figure 7: Global: Travel Insurance Market: Breakup by Region (in %), 2024
- Figure 8: Global: Travel Insurance Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 9: Global: Travel Insurance (Single-Trip Travel Insurance) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 10: Global: Travel Insurance (Single-Trip Travel Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 11: Global: Travel Insurance (Annual Multi-Trip Insurance) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 12: Global: Travel Insurance (Annual Multi-Trip Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 13: Global: Travel Insurance (Long-Stay Travel Insurance) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 14: Global: Travel Insurance (Long-Stay Travel Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 15: Global: Travel Insurance (Medical Expenses) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 16: Global: Travel Insurance (Medical Expenses) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 17: Global: Travel Insurance (Trip Cancellation) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 18: Global: Travel Insurance (Trip Cancellation) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 19: Global: Travel Insurance (Trip Delay) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 20: Global: Travel Insurance (Trip Delay) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 21: Global: Travel Insurance (Property Damage) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 22: Global: Travel Insurance (Property Damage) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 23: Global: Travel Insurance (Other Coverage Types) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 24: Global: Travel Insurance (Other Coverage Types) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 25: Global: Travel Insurance (Insurance Intermediaries) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 26: Global: Travel Insurance (Insurance Intermediaries) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 27: Global: Travel Insurance (Banks) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 28: Global: Travel Insurance (Banks) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 29: Global: Travel Insurance (Insurance Companies) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 30: Global: Travel Insurance (Insurance Companies) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 31: Global: Travel Insurance (Insurance Aggregators) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 32: Global: Travel Insurance (Insurance Aggregators) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 33: Global: Travel Insurance (Insurance Brokers) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 34: Global: Travel Insurance (Insurance Brokers) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 35: Global: Travel Insurance (Other Distribution Channels) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 36: Global: Travel Insurance (Other Distribution Channels) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 37: Global: Travel Insurance (Senior Citizens) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 38: Global: Travel Insurance (Senior Citizens) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 39: Global: Travel Insurance (Education Travelers) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 40: Global: Travel Insurance (Education Travelers) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 41: Global: Travel Insurance (Business Travelers) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 42: Global: Travel Insurance (Business Travelers) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 43: Global: Travel Insurance (Family Travelers) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 44: Global: Travel Insurance (Family Travelers) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 45: Global: Travel Insurance (Other End Users) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 46: Global: Travel Insurance (Other End Users) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 47: North America: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 48: North America: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 49: United States: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 50: United States: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 51: Canada: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 52: Canada: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 53: Asia Pacific: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 54: Asia Pacific: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 55: China: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 56: China: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 57: Japan: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 58: Japan: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 59: India: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 60: India: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 61: South Korea: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 62: South Korea: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 63: Australia: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 64: Australia: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 65: Indonesia: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 66: Indonesia: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 67: Others: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 68: Others: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 69: Europe: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 70: Europe: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 71: Germany: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 72: Germany: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 73: France: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 74: France: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 75: United Kingdom: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 76: United Kingdom: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 77: Italy: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 78: Italy: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 79: Spain: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 80: Spain: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 81: Russia: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 82: Russia: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 83: Others: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 84: Others: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 85: Latin America: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 86: Latin America: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 87: Brazil: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 88: Brazil: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 89: Mexico: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 90: Mexico: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 91: Others: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 92: Others: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 93: Middle East and Africa: Travel Insurance Market: Sales Value (in Million USD), 2019 & 2024
- Figure 94: Middle East and Africa: Travel Insurance Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 95: Global: Travel Insurance Industry: SWOT Analysis
- Figure 96: Global: Travel Insurance Industry: Value Chain Analysis
- Figure 97: Global: Travel Insurance Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Travel Insurance Market: Key Industry Highlights, 2024 & 2033
- Table 2: Global: Travel Insurance Market Forecast: Breakup by Insurance Type (in Million USD), 2025-2033
- Table 3: Global: Travel Insurance Market Forecast: Breakup by Coverage (in Million USD), 2025-2033
- Table 4: Global: Travel Insurance Market Forecast: Breakup by Distribution Channel (in Million USD), 2025-2033
- Table 5: Global: Travel Insurance Market Forecast: Breakup by End User (in Million USD), 2025-2033
- Table 6: Global: Travel Insurance Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 7: Global: Travel Insurance Market Structure
- Table 8: Global: Travel Insurance Market: Key Players
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