Global Travel Credit Insurance Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2024 to 2032

Description

List of Tables

The global demand for Travel Credit Insurance Market is presumed to reach the market size of nearly USD 32.05 Billion by 2032 from USD 13.84 Billion in 2023 with a CAGR of 9.78% under the study period 2024-2034.

Travel credit insurance, alternatively referred to as travel insurance or trip protection, is an insurance policy crafted to offer financial security and aid to travelers in unforeseen circumstances or emergencies that may occur during their journey. It typically covers a range of risks and contingencies such as trip cancellation or interruption, medical emergencies, lost or delayed baggage, travel delays, emergency evacuation, and accidental death or dismemberment. These policies vary in coverage limits, exclusions, and premiums, depending on the provider, policy type, and travel destination. They offer travelers peace of mind and financial security, allowing them to enjoy their trips with confidence and assurance that they are protected against unforeseen circumstances.

MARKET DYNAMICS

The increasing globalization of travel and tourism, rising travel expenditures, and international business travel drive demand for travel credit insurance as a financial protection mechanism against unexpected trip cancellations, flight disruptions, medical emergencies, and other travel-related risks. Travel credit insurance provides travelers with peace of mind and financial security, covering non-refundable travel expenses and reimbursing costs incurred due to unforeseen events such as illness, injury, natural disasters, or political unrest. Additionally, the growing trend towards experiential travel and adventure tourism drives demand for comprehensive policies that offer coverage for high-risk activities such as extreme sports, wildlife safaris, and remote expeditions, ensuring travelers are adequately protected during their adventures. Moreover, the increasing prevalence of travel disruptions and incidents, including flight delays, cancellations, and airline bankruptcies, is driving awareness about the importance of travel credit insurance as a safety net for travelers, particularly in volatile and unpredictable travel environments. Furthermore, the COVID-19 pandemic and its influence on global travel patterns, border restrictions, and quarantine requirements have underscored the importance of this insurance in providing financial protection and flexibility for travelers facing unexpected disruptions and cancellations. The growing availability of these products and services through online travel agencies, travel insurance providers, credit card companies, and financial institutions is expanding market access and consumer awareness, making it easier for travelers to purchase and manage their travel insurance coverage, further driving market growth and adoption. However, changes in travel patterns and insurance regulations may challenge the market growth in the coming years.

The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Travel Credit Insurance. The growth and trends of Travel Credit Insurance industry provide a holistic approach to this study.

MARKET SEGMENTATION

This section of the Travel Credit Insurance market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Insurance

Trip Cancellation
Baggage Loss
Travel Accident Insurance
Emergency Medical Assistance
Rental Car Insurance
Flight Delay

By Distribution Channel

Direct
Travel Agencies
Airlines
Affinity Partners

By End User

Individuals Card Holders
Business Card Holders

REGIONAL ANALYSIS

This section covers the regional outlook, which accentuates current and future demand for the Travel Credit Insurance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Travel Credit Insurance market include American Express, JPMorgan Chase, Citi, Capital One, Bank Of America, Wells Fargo, U.S. Bank, PNC Bank, Barclays, HSBC, Allianz Partners, Travelex Insurance Services, Nationwide. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.

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Product Code: VMR112114482

1. PREFACE

1.1. Report Description
- 1.1.1 Objective
- 1.1.2 Target Audience
- 1.1.3 Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
- 1.3.1 Market Research Process
- 1.3.2 Market Research Methodology

2. EXECUTIVE SUMMARY

2.1. Highlights of Market
2.2. Global Market Snapshot

3. TRAVEL CREDIT INSURANCE - INDUSTRY ANALYSIS

3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter's Five Force Analysis
3.7. Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Insurance
- 3.7.2 Market Attractiveness Analysis By Distribution Channel
- 3.7.3 Market Attractiveness Analysis By End User
- 3.7.4 Market Attractiveness Analysis By Region

4. VALUE CHAIN ANALYSIS

4.1. Value Chain Analysis
4.2. Raw Material Analysis
- 4.2.1 List of Raw Materials
- 4.2.2 Raw Material Manufactures List
- 4.2.3 Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
- 4.4.1 Direct Marketing
- 4.4.2 Indirect Marketing
- 4.4.3 Marketing Channel Development Trend

5. GLOBAL TRAVEL CREDIT INSURANCE MARKET ANALYSIS BY INSURANCE

5.1. Overview By Insurance
5.2. Historical and Forecast Data
5.3. Analysis By Insurance
5.4. Trip Cancellation Historic and Forecast Sales By Regions
5.5. Baggage Loss Historic and Forecast Sales By Regions
5.6. Travel Accident Insurance Historic and Forecast Sales By Regions
5.7. Emergency Medical Assistance Historic and Forecast Sales By Regions
5.8. Rental Car Insurance Historic and Forecast Sales By Regions
5.9. Flight Delay Historic and Forecast Sales By Regions

6. GLOBAL TRAVEL CREDIT INSURANCE MARKET ANALYSIS BY DISTRIBUTION CHANNEL

6.1. Overview By Distribution Channel
6.2. Historical and Forecast Data
6.3. Analysis By Distribution Channel
6.4. Direct Historic and Forecast Sales By Regions
6.5. Travel Agencies Historic and Forecast Sales By Regions
6.6. Airlines Historic and Forecast Sales By Regions
6.7. Affinity Partners Historic and Forecast Sales By Regions

7. GLOBAL TRAVEL CREDIT INSURANCE MARKET ANALYSIS BY END USER

7.1. Overview By End User
7.2. Historical and Forecast Data
7.3. Analysis By End User
7.4. Individuals Card Holders Historic and Forecast Sales By Regions
7.5. Business Card Holders Historic and Forecast Sales By Regions

8. GLOBAL TRAVEL CREDIT INSURANCE MARKET ANALYSIS BY GEOGRAPHY

8.1. Regional Outlook
8.2. Introduction
8.3. North America Sales Analysis
- 8.3.1 Overview, Historic and Forecast Data Sales Analysis
- 8.3.2 North America By Segment Sales Analysis
- 8.3.3 North America By Country Sales Analysis
- 8.3.4 United States Sales Analysis
- 8.3.5 Canada Sales Analysis
- 8.3.6 Mexico Sales Analysis
8.4. Europe Sales Analysis
- 8.4.1 Overview, Historic and Forecast Data Sales Analysis
- 8.4.2 Europe By Segment Sales Analysis
- 8.4.3 Europe By Country Sales Analysis
- 8.4.4 United Kingdom Sales Analysis
- 8.4.5 France Sales Analysis
- 8.4.6 Germany Sales Analysis
- 8.4.7 Italy Sales Analysis
- 8.4.8 Russia Sales Analysis
- 8.4.9 Rest Of Europe Sales Analysis
8.5. Asia Pacific Sales Analysis
- 8.5.1 Overview, Historic and Forecast Data Sales Analysis
- 8.5.2 Asia Pacific By Segment Sales Analysis
- 8.5.3 Asia Pacific By Country Sales Analysis
- 8.5.4 China Sales Analysis
- 8.5.5 India Sales Analysis
- 8.5.6 Japan Sales Analysis
- 8.5.7 South Korea Sales Analysis
- 8.5.8 Australia Sales Analysis
- 8.5.9 South East Asia Sales Analysis
- 8.5.10 Rest Of Asia Pacific Sales Analysis
8.6. Latin America Sales Analysis
- 8.6.1 Overview, Historic and Forecast Data Sales Analysis
- 8.6.2 Latin America By Segment Sales Analysis
- 8.6.3 Latin America By Country Sales Analysis
- 8.6.4 Brazil Sales Analysis
- 8.6.5 Argentina Sales Analysis
- 8.6.6 Peru Sales Analysis
- 8.6.7 Chile Sales Analysis
- 8.6.8 Rest of Latin America Sales Analysis
8.7. Middle East & Africa Sales Analysis
- 8.7.1 Overview, Historic and Forecast Data Sales Analysis
- 8.7.2 Middle East & Africa By Segment Sales Analysis
- 8.7.3 Middle East & Africa By Country Sales Analysis
- 8.7.4 Saudi Arabia Sales Analysis
- 8.7.5 UAE Sales Analysis
- 8.7.6 Israel Sales Analysis
- 8.7.7 South Africa Sales Analysis
- 8.7.8 Rest Of Middle East And Africa Sales Analysis

9. COMPETITIVE LANDSCAPE OF THE TRAVEL CREDIT INSURANCE COMPANIES

9.1. Travel Credit Insurance Market Competition
9.2. Partnership/Collaboration/Agreement
9.3. Merger And Acquisitions
9.4. New Product Launch
9.5. Other Developments

10. COMPANY PROFILES OF TRAVEL CREDIT INSURANCE INDUSTRY

10.1. Top Companies Market Share Analysis
10.2. Market Concentration Rate
10.3. American Express
- 10.3.1 Company Overview
- 10.3.2 Company Revenue
- 10.3.3 Products
- 10.3.4 Recent Developments
10.4. JPMorgan Chase
- 10.4.1 Company Overview
- 10.4.2 Company Revenue
- 10.4.3 Products
- 10.4.4 Recent Developments
10.5. Citi
- 10.5.1 Company Overview
- 10.5.2 Company Revenue
- 10.5.3 Products
- 10.5.4 Recent Developments
10.6. Capital One
- 10.6.1 Company Overview
- 10.6.2 Company Revenue
- 10.6.3 Products
- 10.6.4 Recent Developments
10.7. Bank Of America
- 10.7.1 Company Overview
- 10.7.2 Company Revenue
- 10.7.3 Products
- 10.7.4 Recent Developments
10.8. Wells Fargo
- 10.8.1 Company Overview
- 10.8.2 Company Revenue
- 10.8.3 Products
- 10.8.4 Recent Developments
10.9. U.S. Bank
- 10.9.1 Company Overview
- 10.9.2 Company Revenue
- 10.9.3 Products
- 10.9.4 Recent Developments
10.10. PNC Bank
- 10.10.1 Company Overview
- 10.10.2 Company Revenue
- 10.10.3 Products
- 10.10.4 Recent Developments
10.11. Barclays
- 10.11.1 Company Overview
- 10.11.2 Company Revenue
- 10.11.3 Products
- 10.11.4 Recent Developments
10.12. HSBC
- 10.12.1 Company Overview
- 10.12.2 Company Revenue
- 10.12.3 Products
- 10.12.4 Recent Developments
10.13. Allianz Partners
- 10.13.1 Company Overview
- 10.13.2 Company Revenue
- 10.13.3 Products
- 10.13.4 Recent Developments
10.14. Travelex Insurance Services
- 10.14.1 Company Overview
- 10.14.2 Company Revenue
- 10.14.3 Products
- 10.14.4 Recent Developments
10.15. Nationwide
- 10.15.1 Company Overview
- 10.15.2 Company Revenue
- 10.15.3 Products
- 10.15.4 Recent Developments

Note - In company profiling, financial details and recent developments are subject to availability or might not be covered in the case of private companies