Tourism Insurance Market Outlook 2021: Global Industry Share

The global tourism insurance market is expected to grow 1.5x by the end of the forecast period with a CAGR of over 18.5% during the forecast period (2021 to 2027).

Travel coverage provides insurance against associated perils including injury or death, lack of baggage, delays and even travel. Fees vary based on plans and coverages, including trip cancellation, lack of baggage and travel documents, scientific expenses, emergency scientific evacuations, and more. Also, a major boom in tourism, modern technologies, improvement in travel rules and regulations, and others are some of the gratifying elements enhancing the growth of the market.

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Based on end users, the market is segmented into family travellers, school travellers, business travellers, and others. Family travelers continue to dominate the industry, while business travelers are the fastest growing category over the projection period, driven by expanding foreign trade, increasing foreign affairs and increased business travel spending. The growth of the tourism industry is the main driver for the expansion of the global travel insurance industry.

Global tourism insurance market segmentation:

Global Tourism Insurance Market, By Insurance Coverage

One-way travel insurance
Annual multi-trip travel insurance
Long stay travel insurance

Global Tourism Insurance Market, By Distribution Channel

Insurance intermediaries
Insurance companies
Banks
Insurance brokers
Insurance aggregators

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Global Tourism Insurance Market, By End User

The elderly
Education Travelers
business travelers
Family travelers
Others

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Based on region, the global tourism insurance printing market has been segmented into five geographical regions, namely, North America, Asia-Pacific, Europe, South America, Middle East and Africa. In 2020, Asia-Pacific held the largest share of the global tourism insurance market, followed by North America.

Global Tourism Insurance Market, By Region

North America
WE
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
Slovenia
Slovakia
The Netherlands
Belgium
Norway
Denmark
Czech Republic
Sweden
The rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Vietnam
The Philippines
Singapore
Australia and New Zealand
Rest of Asia-Pacific
South America
Brazil
Argentina
Colombia
Rest of Latin America
The Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
North Africa
Rest of MEA

Key Market Players Covered in Global Tourism Insurance Market:
Allianz Group
American International Group Inc.
Assicurazioni Generali SPA
AXA
Insure & Go Insurance Services Limited
Seven corners inc.
International insured trip
TravelSafe Insurance
USI Insurance Services
Zurich Insurance Company Limited.

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